In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning. Editor’s note: Yesterday’s TC Daily subject line, “Paystack cuts the Allawee,” was intended as a pun but may have suggested that Allawee had shut down. To clarify, Allawee, the Nigerian card-issuing fintech startup, has been integrated into Paystack following its acquisition by the payments company. In the latest episode of Headlines by TechCabal, hosts Eme Agbor and Muktar Oladunmade and guest Noah Banjo, our Analysis and Special Reports Editor, discussed some of the biggest stories shaping business, tech, and security across Africa. They break down Meta’s new $0.0101 fee for WhatsApp Business and what it could mean for businesses. They also look at the new regulations affecting drivers on ride-hailing platforms such as Uber and Bolt in Johannesburg, South Africa. And finally, the hosts discussed AI and its use in creating presentation slides and content, and why digital safety is becoming important as more people adopt online tools. Watch the episode on YouTube. Become smarter about tech and commerce in Francophone Africa, and the policies shaping them. Read previous editions here first and subscribe below. Subscribe MTN Nigeria has a new growth problem WIOCC raised $300 million Shoprite finalises R&A Cellular acquisition Kenya merges eTIMS with government payments World Wide Web 3 Opportunities Telecoms MTN Nigeria has a new growth problem Image Source: MTN MTN Nigeria has more customers and is making more money than ever, but each customer is bringing in less money. What happened? The telecom operator added 7.5 million subscribers in H1 2026, taking its customer base to 92.2 million. Service revenue rose 25.9% to ₦2.99 trillion ($2.25 billion), but the average amount MTN made from each customer fell 1.67% in naira terms and 8.82% in dollar terms. State of play: In 2025, MTN’s biggest growth lever was pricing. Its 50% tariff increase helped drive a sharp rise in revenue. But that boost is now largely annualised, and revenue growth is slowing. Between the lines: MTN now needs to grow without relying on another major price increase—something that may not happen again for years. Data is its clearest opportunity. Average data usage per subscriber rose 15.2% in H1 2026, while data revenue grew 38.4%. MTN is also looking beyond mobile data, with home broadband and fintech offering new ways to earn more from its customers. Zoom out: For now, adding subscribers can make up for falling revenue per customer. But that gets harder as subscriber growth slows. MTN’s challenge is becoming less about getting more customers and more about getting existing customers to spend more. Our senior reporter Temitayo Jaiyeola wrote a deep dive on this; read it on our website. Every business owner needs to watch this. The business questions you Google, answered by experts. Watch for free. Funding WIOCC, the Africa-focused data centre company, raises $300 million from Saudi investor and AFC Image Source: Tenor The West Indian Ocean Cable Company (WIOCC) Group, an Africa-focused digital infrastructure provider, has raised $300 million, its biggest fundraising haul yet. The company wants to expand its data centres, fibre networks, and subsea cables. What happened? On Tuesday, WIOCC signed an agreement with Africa Finance Corporation (AFC), a development finance institution, and Vision Invest, a Saudi Arabian investment company, to raise a combined $300 million from both investors. WIOCC is swapping an undisclosed amount of shares in its business for that capital. The money will fund new data centres, expand the company’s terrestrial fibre network, and investments in new subsea cable assets. Explain like I’m new here: WIOCC sells connectivity and infrastructure to telecom operators, cloud companies, Internet service providers (ISPs), and other businesses, and operates across more than 30 African countries. In 2021, WIOCC raised $200 million in mixed debt and equity funding. According to Serrari, a Kenyan financial data publisher, the company raised over $400 million across three separate rounds in 2025, including a $65 million sustainability-linked debt from the International Finance Corporation (IFC), Proparco, and other investors. It’s a factor of the industry WIOCC operates in: Teraco, South Africa’s largest data centre operator, has close to 190 megawatts (MW) and about $877 million in committed investment. Vantage Data Centers, a global hyperscale data centre developer, is building out its Johannesburg campus in Waterfall City with investment of up to $1 billion. Cavaleros Group, a property developer, is developing large data centre campuses in Johannesburg and Cape Town, South Africa. Why should you care about the big numbers? Data centre infrastructure operators are becoming aggressive about providing local capacity, and they are raising big money to do so. With more local data centres, we can reduce reliance on foreign infrastructure and keep more of Africa’s data closer to home. A survey for Nigeria’s health logistics buyers. If you’re a Health Logistics Buyer in Nigeria, participate in our report by filling out the survey by 4 September. It takes less than 10 minutes. M&A Shoprite, the South African retailer, is taking its financial services to spaza shops Image Source: Zikoko Memes Shoprite, the South African retailer, is already one of the most recognisable chain markets for weekend and last-minute shopping runs. What happens when it owns the payment rails that process transactions at local tills and spaza shops—smaller provision stores—in South Africa? After aggressively scaling back, exiting markets such as Ghana and Malawi in 2025, and prioritising its home market, the retailer just bought a point-of-sale (PoS) business. Yes, your guess is as good as ours. What happened? In its financial results released on Tuesday, the South African retailer reported that it has bought a 51% majority stake in R&A Cellular, which makes PoS devices from South Africa’s busy province of Mpumalanga. The value of the deal, which finalised on August 14, was not disclosed. Why does this matter? Owning a critical payments infrastructure business could enable Shoprite to expand deeper into payments. Small businesses, an estimated 15,000, use R&A Cellular’s PoS devices in South Africa, where it is a prominent niche provider. Between the
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