South African-born AI infrastructure startup Cerebrium raises $8.5 million
Cerebrium, a South African-born startup that helps developers run AI apps without worrying about the tech setup, has raised an $8.5 million seed round to hire more engineers, grow the core platform, and scale operations to meet rising enterprise demand. Graident, Google’s AI venture fund, led the round, with participation from Y Combinator, Authentic Ventures, and several strategic angel investors and operators. Cerebrium was founded in 2021 by Michael Louis and Jonathan Irwin, who previously held roles as CTO and lead engineer at OneCart, a South African online grocery delivery platform, acquired by MassMart, a major retail and wholesale group, the same year. Frustrated by the fragmented tooling and long development cycles they encountered while building AI-driven products, the duo launched Cerebrium to streamline the process for others. “We built Cerebrium so engineers can focus on building AI products that users love with real business impact, instead of hiring an infrastructure team, racking up six-figure cloud bills, or worrying about security and compliance, “ said Louis. The global market for companies like Cerebrium is estimated to exceed $197 billion in 2030, driven by demand for real-time AI applications, generative models, and multimodal systems. Developer-first platforms are gaining traction as companies seek faster deployment and lower overhead. AI that can handle voice, video, and text all at once—called multimodal AI—is growing fast, and Cerebrium is built for this kind of real-time performance. Tech like GPU-as-a-service (renting powerful chips instead of owning them) makes it easier for startups and smaller companies in this space to compete. As part of a fast-growing company building infrastructure for AI, Cerebrium says its focus is on performance, security, and tools that work in multiple regions, including Africa, the U.S., and Europe. “We are betting on the next wave of AI applications being real-time, multimodal, and deeply integrated into customer experiences,” said Louis. This means that the system needs to be quick, easy to use, and built for developers—without all the hassle of setting up hardware or dealing with complicated tech. “AI adoption is accelerating across industries, and we are focused on building a robust, secure, and scalable foundation that can support that growth — especially for real-time, latency-sensitive use cases,” said Louis. “Real-time AI will become central to how customers interact with products,” says Eylul Kayin, Partner at Gradient. “Cerebrium’s tech scales elastically, and that’s going to matter more and more.” What Cerebrium Does Cerebrium makes running powerful AI chatbots, voice assistants, and smart video tools easier and cheaper without complicated setups or expensive servers. It’s serverless, meaning companies only pay for what they use, and the system scales up or down automatically. Platforms based in the U.S. and Europe with a global presence, such as Tavus (an AI video avatar creator), Deepgram ( an instant speech-to-text platform), and Vapi (which builds voice assistants for automated customer support) already use Cerebrium to run fast, real-time AI systems that respond instantly, a growing demand as businesses look to build smarter, more responsive experiences. “We run a lot of audio and video models in real time,” says Roey Paz-Priel, a machine learning engineer at Tavus. “Cerebrium gives us the speed and stability we need — even when things scale up quickly.” At the backend, Cerebrium claims that its building tools handle everything from fast startup times to secure code execution and better monitoring for developers. Some upgrades include reducing loading time for AI models; improving memory and the part of the computer that handles images, videos, and visual tasks for faster processing; creating secure containers so developers can run untrusted code safely; and making it easier to monitor performance and troubleshoot issues. Cerebrium is also building features to let companies deploy in specific regions, helpful for meeting local data rules and reducing latency. Cerebrium’s long-term goal is to become the go-to platform for AI-native applications. That means helping businesses build entire products powered by AI, not just single tools or models. “From sales agents to onboarding flows to healthcare support, we want Cerebrium to be the infrastructure behind it all,” Louis said. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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After processing $9.3 billion in Q1, Kuda relaunches remittance product for non-Nigerian users
Three years after shelving its initial cross-border remittance plans, Nigerian neobank Kuda Technologies has relaunched with a multi-currency wallet that allows Kuda users outside Nigeria to send money directly to Nigerian bank accounts. “The first time, we did not quite get it right, but now we have figured it out,” Nosakhare Oyegun, Kuda’s senior vice president for business banking, told journalists at a media parley on Monday. Babs Ogundeyi, Kuda’s CEO, and Oyegun were part of the Kuda staff who spoke to journalists in a rare meeting with the media. Besides sharing details of Kuda’s Q1 financial performance, Ogundeyi disclosed that the company raised $20 million at a $500 million valuation in 2024, sharing the numbers behind its previously undisclosed round. Why Kuda is going after remittances Kuda initially paused remittances due to its reliance on intermediaries for remittance transactions, which dampened margins, and the need to build the product in-house with Kuda’s core banking application. Its new attempt is built in-house and entirely in Kuda’s wallet, which helps Kuda deepen the customer offering in its ecosystem. The wallet is currently unavailable to Nigerian users due to regulatory restrictions on microfinance banks from processing foreign transactions. For now, it supports the British pound and the euro, with plans to add the U.S. and Canadian dollars within the next six months, Oyegun said. After realising that many Nigerian users who relocated abroad continued to use Kuda’s app, the neobank is re-entering the remittance market as a way to improve the remittance experience of those users. “I have gone through that myself. It’s not ideal from a user experience standpoint,” Oyegun said. These users often sent money to their Kuda accounts or used the app when visiting home, but sending money through multiple banks was expensive and cumbersome. With its new multi-currency wallet, Kuda aims to simplify cross-border transfers for its users. In 2024, Nigeria’s personal remittance market rebounded from a slight dip in 2023, rising by 8.9% to $20.9 billion. Much of this growth was because inflows through International Money Transfer Operators (IMTOs) grew sharply by 43.5%, reaching $4.73 billion, up from $3.30 billion the previous year. With the Central Bank of Nigeria’s recent FX policies, remittance growth is expected to continue. Startups like Lemfi, Nala, and Moniepoint are increasingly competing with incumbents such as Western Union and WorldRemit in Nigeria’s crowded remittance market. As it enters the fray, Kuda is betting on its app’s convenience and user-centric design to attract new users. “Remittance is a highly competitive space, but we’re focused on convenience. It’s frustrating to have to jump between three or four apps just to make one transaction,” Oyegun said.” Putting everything into a single app that people already use—that’s the real value.” Kuda’s Q1 Performance Kuda’s remittance attempt is a way to improve the experience of a segment of its users, which continually increases the volume and value of transactions with Kuda. In Q1 2025, Kuda processed over 300 million transactions totalling ₦14.3 trillion ($9.3 billion) across its retail and business banking arms. Retail banking accounted for ₦8.5 trillion ($5.5 billion), while business users processed ₦5.8 trillion ($3.7 billion). Despite launching its business arm in 2022, three years after Kuda’s launch as a no-fee digital bank, it contributes 40% of Kuda’s total transaction value, a clear sign of how commercially rewarding it is to serve Nigerian businesses. However, due to Kuda’s business model, which is built around frequency, the margins on serving retail users who perform smaller transactions but in far greater volume mean more revenue. The fintech also issued ₦16.4 billion ($10.7 million) in overdrafts in Q1 2025 (a 43% growth compared to the previous quarter), which was issued profitably, according to Kuda. While Kuda does suffer losses with its credit product like other financial institutions, its net margin remains positive and ranges between 3% and 7% depending on the month. “We want to be able to give credit to anyone,” said Babs Ogundeyi, Kuda’s CEO. “ Risk-based pricing is the model. The better your profile, the cheaper your rate. But even if your profile is riskier, we should still be able to offer credit, just at a higher rate.” Kuda users can not apply for loans from the bank but are offered loans based on how active they are on the bank’s app. If Kuda continues at the same pace till the end of 2025, the neobank will process ₦57.2 trillion ($37.2 billion) and 1.2 billion transactions, more than the ₦55.8 trillion it processed in its first five years. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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Roqqu acquires Kenya-based Flitaa to enter East Africa’s crypto market
In a rare intra-African crypto acquisition, Nigerian crypto startup Roqqu has acquired Flitaa, another crypto exchange with operations in Nigeria and Kenya, marking its entry into East Africa’s growing digital asset market. The company did not disclose the value of the all-cash deal. The acquisition, which Roqqu claims has received regulatory approval, allows the company to bypass Kenya’s slow-moving crypto licencing process and sidestep the hurdles that competitors like Busha and Luno have faced. It also signals a strategic shift as Roqqu deepens its African footprint beyond Nigeria, Ghana, and South Africa, and builds a case for crypto consolidation across the continent. “We’re not just building to expand to Europe,” Ayo Shonibare, Roqqu’s chief marketing officer, said. “We also want to expand into our home base [Africa], so it only makes sense that in our quest for this expansion, we also expand into our own home territory.” As part of the acquisition, Flitaa will continue to operate independently using Roqqu’s infrastructure, but its leadership and staff have exited the company, with severance packages provided. Great Onomor, a director at Roqqu, will head Flitaa’s operations and serve as its CEO. The integration gives Flitaa users access to Roqqu’s broader services while stabilising the Kenyan startup’s operations, which had suffered from limited funding, weak infrastructure, and a narrow product offering. The combined entity now positions Roqqu for deeper expansion into Uganda, Rwanda, and Tanzania. “We want to stabilise the operations of Flitaa and make sure they are as strong as Roqqu’s,” said Shonibare. “Our goal is to ensure that existing and new users enjoy the same experience across both platforms.” Flitaa’s existing groundwork in Kenya made the acquisition valuable for Roqqu. The crypto startup had already set up local operations, giving Roqqu an immediate entry into the Kenyan market without the friction of building from scratch. Shonibare noted that Flitaa had fulfilled Kenya’s regulatory requirements before the acquisition. “Flitaa had already figured it out in Kenya,” he explained. “Rather than go through the entire hassle of setting up from scratch, we saw value in their groundwork, especially their plans to expand into Uganda, Rwanda, and Tanzania. They had already set up the operational processes in these countries.” Founded in 2021, Flitaa built its presence by listing lesser-traded cryptocurrency tokens. The startup grew to 72,544 users—with most of its operations in Kenya—and processed around 560,000 transactions monthly, according to internal figures. Its key advantage lay in its deep M-PESA integration and local traction in Kenya’s $100 million crypto market. This M-PESA integration allowed customers to easily buy, sell, and convert their crypto assets to Kenyan Shillings. Joseph Mutati served as Flitaa’s country manager in Kenya, helping to deepen the startup’s traction in the country. He also led the startup’s engagement with regulators and local partners. While Flitaa lacked intellectual property (IP) and regulatory licences and suffered poor app reviews, its user base and compliance posture made it a valuable off-ramp for Roqqu. M-PESA access is particularly important in Kenya, where banks are currently barred from providing services to crypto companies. Two investment analysts who spoke to TechCabal estimated the value of the deal to be between $85,000 and $350,000, citing Flitaa’s small user base and the limited spending power of its African customers, which kept its revenue potential low. Joseph Mutati did not immediately respond to a request for comment on the valuation. Roqqu declined to disclose the value of the deal. 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Former Land Rover engineer joins handful of Africa’s electric vehicle manufacturers
Nigeria, Africa’s largest economy with over 200 million people, has a nascent electric vehicle (EV) market. Only 15,000 to 20,000 EVs are currently on its roads, representing a mere 0.5% to 1% of the total vehicle fleet. While this shows progress from 5,000 EVs five years ago, it falls well short of government targets: 7.5% electric vehicle adoption by 2025 and 40% by 2050. High costs present a significant barrier, with a new electric vehicle averaging $25,000, several times Nigeria’s median annual income. Unreliable electricity, limited charging infrastructure, and underdeveloped transport and manufacturing systems further hinder progress. This challenge extends across Africa. Despite ambitious government targets for cleaner transport, supported by tax incentives and import duty waivers, older, imported petrol vehicles still dominate urban centres. A wave of innovative startups is emerging to bridge this gap. In Kenya, BasiGo deploys electric buses in Nairobi using a pay-as-you-drive model. Rwanda’s Ampersand pioneers electric motorcycles and battery-swapping networks, while Ghana’s SolarTaxi assembles EVs and tricycles with integrated solar charging. Another such startup is Kemet Automotive, co-founded by Nissi Ogulu and Rui Mendes Da Silva. Before Kemet, Da Silva had worked at companies providing electric mobility solutions, while Ogulu was building luxury cars at Jaguar. Having progressed from an intern to a critical role on the Range Rover project at Jaguar, the pandemic and its existential uncertainties encouraged her to leave behind her 9-5 for entrepreneurship. “Our mortality was laid bare [during the pandemic], forcing us to prioritise what truly matters,” she said. “I realised that the skills and position I had gained were tools I wanted to bring back to the continent for greater impact.” Kemet Automotive’s ambitious plans centre on its vehicle lineup: the Gezo tricycle, Nandi compact SUV, and Mansa premium SUV. According to Ogulu, the company is actively developing regional and global supply chains and establishing production facilities with a 2027 launch in mind. Nissi Ogulu and Rui Mendes Da Silva, co-founders of Kemet. Image source: Google Overcoming obstacles The journey, however, is fraught with challenges. Electric vehicle manufacturers face high costs, limited infrastructure, and consumer scepticism. Ogulu is frank about the hurdles: “It’s highly capital-intensive and time-consuming, with no instant gratification. The infrastructural demands and high capital expenditure create a steep barrier to entry.” She added that a fundamental issue is having to “build a system that does not exist.” A 2023 African Development Bank (AfDB) report underscores these difficulties, noting that Africa accounts for just 1% of global vehicle production. Supply chains rely heavily on imports due to underdeveloped regional networks, a process Ogulu estimates will take five to seven years to mature. Currently, Kemet has completed the design and prototype phases of six concept vehicles, including the Gezo tricycle, Nandi compact SUV, and Mansa premium SUV. The company is still in the manufacturing stage. Kemet’s strategy is to spread its manufacturing footprint across three specific geographical locations on the continent. A 2023 Mail & Guardian article reported Kemet’s plans to establish plants in Senegal and Ghana, with a primary facility in Côte d’Ivoire. However, Ogulu told TechCabal that Nigeria, her home country, will serve as a secondary site due to its market potential, despite infrastructural limitations. She declined to disclose the other two manufacturing locations, citing ongoing negotiations. According to her, Kemet selects its manufacturing site based on a few criteria: adoption readiness, progressive policies, favourable incentives, and proximity to market demand, as well as the ability to nurture the business in that environment. “We are in the development phase of our manufacturing structures,” Ogulu said. “We’ve done all the work with regards to the design phase, development of prototypes, et cetera. So it’s now down to creating your production chain and building your supply chain both regionally and internationally, and fully just understanding how you handle the arrival and dispersal of your supply chain management and the setup of the manufacturing plant.” The company is targeting a 2027 launch for its first fleet. Consumer readiness and affordability In Nigeria, fuel prices, which shot up by 40% in 2024, are driving curiosity about EVs. “People are researching what it means to own an electric vehicle,” Ogulu observed, citing the presence of Tesla Cybertrucks in Lagos. She noted that while there’s still education needed, “there is now the curiosity which is always the first step.” Kemet’s pricing strategy is designed to match what Nigerians already spend on vehicles. The company benchmarks its base models against popular brands like Toyota, targeting a price range of $20,000 to $25,000. For lower-income segments, Kemet is developing micromobility solutions, such as compact, affordable tricycles. Ogulu emphasises the importance of affordability: “It’s about ensuring that the amount of money people are spending today on vehicles is not surpassed when they need to buy ours and we offer solutions that can cater to a local market because of the fact that we will be locally manufacturing as well. So, it’s a convenient approach to purchasing as opposed to importing or going with dilapidated vehicles that are secondhand and just pollute everywhere.” Charging, range, and innovation Charging infrastructure remains a major bottleneck. Nigeria has fewer than 200 public charging stations, mostly concentrated in Lagos and Abuja. Across Africa, the number of charging points is growing but remains far below demand. South Africa leads with over 300 stations, while Kenya, Ghana, and Rwanda are rapidly expanding their networks. Kemet is addressing this through various approaches. “We’ve created varying systems that can cater to all the varying conditions,” Ogulu explains. They have partnerships with charging station companies in Côte d’Ivoire, Senegal, Benin, and Kenya, to whom they cater their technology. Kemet and one of their partners have also installed a few stations in Victoria Island, Lagos, acknowledging the current sparsity of charging points in Nigeria. The company is also exploring portable and supercharging solutions, aiming for vehicles with a range of up to 800 km per charge—enough for a trip from Lagos to Port Harcourt. Ogulu noted that they are developing their swapping stations, which will
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Only one in 100 internet users in Nigeria uses 9mobile. Can roaming turn things around?
Once a formidable player in Nigeria’s internet market, 9mobile now holds just over 1% of the internet subscriber base, raising questions about its future in a market where data has become the lifeblood of telecom operators. From a peak of 15.5 million internet subscribers in September 2015, the telco has plunged to 1.45 million as of May 2025, according to the Nigerian Communications Commission (NCC) data. In a market of over 141 million internet users, only one in every hundred Nigerians chooses 9mobile. The decline comes at a time when internet services have become the primary growth driver for telecom operators. Rivals MTN and Airtel have aggressively invested in nationwide fibre, spectrum acquisitions, and 4G/5G expansion to consolidate their dominance. 9mobile, meanwhile, has struggled with infrastructure gaps, network quality complaints, and years of stagnant innovation. Now, the company is betting on a national roaming deal with MTN Nigeria to claw its way back into relevance. Roaming: A lifeline or a stopgap? In July 2025, 9mobile signed a three-year roaming agreement with MTN, allowing it to use MTN’s radio infrastructure in areas where it lacks coverage. The move gives 9mobile near-nationwide reach without the capital-intensive burden of building new towers—an arrangement it hopes will stabilise its shrinking internet user base. “We’re not freeloading,” said 9mobile CEO Obafemi Banigbe at the joint press briefing. “It’s a commercial agreement. Both parties are paying for what they use. It’s a win-win.” For years, poor coverage and inconsistent data speeds have plagued 9mobile’s service, driving internet users to competitors. The MTN deal addresses that weakness, but only partially. 9mobile hopes to retain existing internet users, attract new ones, and buy time to execute a deeper recovery strategy. Real recovery, analysts say, will depend on 9mobile’s ability to improve user experience and market itself as a credible alternative. “They are too far behind to build infrastructure,” said Ladi Okuneye, CEO of UniCloud Africa. “Their cash is best used for building on quality of service and a good user experience. I don’t think they will have enough cash to do both.” Can roaming lead to a comeback? The roaming agreement is part of a broader four-phase transformation plan, including infrastructure upgrades, core network overhaul, billing system modernisation, and a refreshed product suite. Banigbe also revealed that the company has secured investor commitments worth $3 billion for network transformation over the next four years. Whether the strategy is enough remains uncertain. Though there are precedents for network-sharing turnarounds—such as South Africa’s Cell C using MTN’s virtualised RAN to revive its prepaid business—the scale of 9mobile’s decline, and the intensity of Nigeria’s data wars, make this a much tougher climb. Rival operators like Airtel and Glo have not only secured scale but also brand trust and deep penetration in underserved areas. Meanwhile, Starlink, Spectranet, and other broadband challengers are offering alternatives in the fixed-wireless space. Okuneye believes the best recovery strategy will be for 9mobile to consider operating like a mobile virtual network operator (MVNO) instead of investing in new infrastructure. “If they make it, they will need to renew the roaming deal (after three years) and probably sign others,” Okuneye said. “They essentially need to look at themselves as an MVNO. It is best they leverage someone else’s infrastructure.” What’s at stake Beyond commercial competition, 9mobile’s recovery—or lack thereof—has broader economic implications. The telecom sector is one of Nigeria’s biggest contributors to GDP and tax revenue. A weak or failing player reduces the sector’s resilience and limits customer choice. Regulators have long pushed for infrastructure sharing to lower costs, improve rural coverage, and boost digital inclusion. Speaking at the roaming sharing partnership announcement, MTN Nigeria’s CEO, Karl Toriola, said this is the first deal of its kind in West, East, and Central Africa. “This is not just a technical integration. It’s a shift in how we think about competition—towards collaboration,” he said. 9mobile’s roaming deal could become a model for how struggling telecom operators survive in the age of data. But the real test will be execution. Can 9mobile upgrade fast enough? Can it offer value that convinces users to return? Can it grow from 1% to 5%, or even 10%, of the market? These are questions only time and customers can answer. But one thing is clear: without a significant turnaround in its internet business, 9mobile’s future as a telecom operator in Nigeria remains uncertain. And in a country where data is increasingly synonymous with opportunity, relevance, and growth, staying small is no longer an option. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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Safaricom CEO becomes highest-paid NSE executive with $2.2 million
Safaricom chief executive Peter Ndegwa earned KES 294.2 million ($2.2 million) in total compensation for the year ended March 2025, a 17% increase from the previous year, as the telecoms giant raised executive pay after a return to growth. Ndegwa’s record compensation included a KES 98.7 million ($765,100) salary, a KES 116.7 million ($904,600) bonus, KES 33.5 million ($259,187) in non-cash benefits, and KES 45.3 million ($351,155) through Safaricoma’s Employee Performance Share Award Plan (EPSAP). While Safaricom’s disclosures do not specify the details, such non-cash perks could cover school fees, housing, club memberships, and cars in Kenya. The increase makes Ndegwa the highest-paid chief executive at the Nairobi Securities Exchange (NSE). By comparison, KCB Group CEO Paul Russo received KES 250.2 million ($1.9 million) in the same period — a 40.8% rise that made him the highest-paid bank executive in the country. The executive pay hikes are out of step with the country’s economic reality, where most companies have frozen hiring or salaries and workers are struggling with rising costs and shrinking disposable incomes. Safaricom’s board also approved higher payouts across its C-suite. Chief Financial Officer Dilip Pal earned KES 132 million ($986,000), up from KES 113.8 million ($882,152) the previous year, driven by a larger bonus and EPSAP. The CEO and CFO pocketed KES 426.7 million ($3.2 million), a 16.5% increase from the KES 366.1 million ($2.8 million) paid out the previous year. Chairman Adil Khawaja received KES 24.5 million ($189,918), while Safaricom’s non-executive directors shared KES 84.7 million ($655,319). Total director remuneration rose 10% to KES 511.4 million ($3.8 million), cementing Safaricom’s position as one of Kenya’s most generous boardrooms. The surge in pay follows a recovery in Safaricom’s financial performance. In the year ended March 2025, the company posted an 11% rise in net profit to KES 69.8 billion ($540 million), driven by strong performance in mobile money and mobile data, and narrowing losses in Ethiopia. The performance marks a return to growth after two years of muted earnings, mainly linked to Safaricom’s costly expansion into Ethiopia. Despite early hurdles, the telco remains bullish on its long-term prospects in East Africa’s most populous market. Safaricom continues to dominate Kenya’s telecoms and digital payments sectors and remains the most profitable listed company in East and Central Africa. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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At Power Learn Project, tech skills mean nothing if it won’t impact how you earn
At April’s Connected Africa Summit in Diani, Kenya, I met the team behind an edtech trying to close the growing gap between digital skills training and actual income opportunities. Here’s how they’re doing it and what’s coming next. The Connected Africa Summit brings together policymakers, telcos, investors, and tech operators to discuss infrastructure, regulation, and digital growth on the continent. But while the big names debated cloud infrastructure and AI, a team was working on a more grounded challenge of making digital skills generate income. Power Learn Project (PLP) was founded in 2021 by Mumbi Ndung’u and Kenji Sasaki, driven by what Ndung’u called “a pressing concern: the growing digital divide across Africa.” Despite the continent’s young population and rising demand for tech talent, millions still lacked the basics, reliable internet, affordable devices, and structured training. “What if we could democratise access to digital skills at scale and directly connect young people to real work?” That was the core idea, Ndung’u said. The team started with a 16-week software development scholarship in Kenya, offered remotely and at no cost to learners from low-income communities. “What started as a pilot in Kenya with a handful of learners quickly proved that with the right support,” Ndung’u said, adding that with the right support, learners could build real technical skills Scale doesn’t always translate to success Since launching in 2021, PLP claims it has trained over 20,000 learners across Kenya, South Africa, Nigeria, Zambia, and Rwanda. But the team is quick to caution that scale, on its own, doesn’t mean impact. “The number alone doesn’t tell the full story,” Ndung’u said. “What’s important is who these learners are—young people from underserved communities, many of whom had never touched a line of code before.” PLP also closely tracks what happens after the training ends. The edtech firm says that in 2025, 63% of its alumni will be actively engaged in the tech economy. That includes full-time employment, freelance work on platforms like Upwork, and early-stage ventures. Some have gone further. Peter Okware, one of PLP’s alumni, co-founded iThreeM, a Web3 company that’s now part of a growing wave of African blockchain startups. The link between training and income is held together by the firm’s Talent Hub, a placement and support platform that helps learners build portfolios, prep for interviews, and connect with employers. “Our alumni are working across sectors, from fintech and healthtech startups to corporate IT teams and global outsourcing firms,” Ndung’u said. “Encouragingly, many of these placements are not just short-term. Learners are being retained, promoted, or scaling ventures of their own.” Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events TC Scoop <!– Next Wave –> <!– Entering Tech –> Subscribe So far, over 1,200 learners have secured work through the hub. PLP adds that feedback from employers has been consistent, as graduates come in better prepared for the demands of fast-moving teams. It points to what one hiring partner called “readiness and adaptability” as key advantages over more traditionally trained candidates. Still, the team sees placement figures as just one layer of success because it is trying to measure income mobility, business survival, and whether access to training translates into sustained economic change over time. That kind of tracking is harder but essential to proving the model works beyond the initial course. How PLP pays for free training PLP operates as a non-profit. Funding comes from a mix of development agencies, corporate backers like
Read MoreFibreOne loses 42% of subscribers as Starlink, Spectranet also decline in Nigeria
Nigeria’s internet service provider (ISP) market suffered its steepest subscriber decline in years with over 18,000 subscribers lost and 18 companies leaving the market between Q3 2024 and Q1 2025, according to new data from the Nigerian Communications Commission (NCC), as rising operational costs and a shift toward cheaper mobile internet eroded the customer base of key players. Spectranet, once Nigeria’s leading fixed broadband provider, saw a 2.08% drop in subscribers. Starlink, now the largest by coverage, fell by 9%, while FibreOne faced the steepest decline, losing 42.4% of its subscribers. The total number of fixed broadband users in Nigeria declined from 307,946 in Q3 2024 to 289,369 in Q1 2025, indicating the vulnerability of ISPs in a market increasingly dominated by mobile internet. This downturn reflects a broader shift as Nigerians increasingly favour mobile internet for its affordability. However, while sufficient for casual use, mobile data lacks the reliability and speed needed for services like e-learning, telemedicine, and remote work, raising concerns about Nigeria’s growing dependence on networks ill-suited for enterprise or institutional needs. “Mobile data is just more accessible,” said one telecom industry executive who spoke on condition of anonymity. “Why pay a premium for fibre or satellite when you can buy a few hundred megabytes on your phone for ₦500?” Given the tough economic climate, the convenience and affordability of mobile internet make it the default choice for many households. In contrast, fixed broadband typically requires upfront hardware fees, and recurring monthly bills, and is often unavailable in less urbanized areas—factors that severely limit its reach and appeal outside major cities. When Starlink entered Nigeria in early 2023, it was hailed as a potential disruptor that could bridge connectivity gaps across hard-to-reach areas. But the promise has not fully materialised. Demand has lagged not only in Nigeria but also in other African markets like Kenya, Rwanda, and South Africa. High hardware costs and steep monthly fees have priced it out of reach for average users, while persistent economic pressures across the continent continue to dampen demand. Despite its global promise to connect the unconnected, Starlink has quickly become emblematic of a wider ISP struggle in emerging markets—high potential, but low affordability. “Starlink also reviewed their service plan prices in the same period,” said a Starlink retailer who would only speak under condition of anonymity. “Many Nigerians are cutting down on their subscriptions. I know a couple of people who have scaled down on the subs.” The vanishing middle By Q1 2025, Nigeria had 234 licensed ISPs, but only 127 had active users. In contrast, there were 252 licensed ISPs in Q4 2023, with just 106 active. This points to a growing collapse of smaller, local providers unable to compete with telcos or absorb the rising operational costs. According to Diseiye Isoun, CEO of Content Oasis, an ISP, the implications run deeper than mere subscriber counts. “At the end of the day,” he said, “ISPs are treated as peripheral, but they are critical to the broadband ecosystem—especially for schools, hospitals, and local businesses. What’s missing is policy—not just investment—that ensures ISPs can serve strategic access points.” Isoun advocates for a hybrid model, drawing inspiration from Brazil’s Telebras, a state-backed initiative that funds broadband access in schools and clinics via partnerships with private ISPs. Rather than allowing the free market alone to dictate internet access, Telebras ensures guaranteed minimum connectivity where it matters most. Why ISPs still matter While mobile networks have taken the lead in internet access, ISPs remain critical to Nigeria’s long-term digital infrastructure. They provide the stable, high-capacity last-mile connectivity required in environments such as universities, hospitals, industrial parks, and tech hubs—places where mobile data simply isn’t enough. “You can’t fix connectivity in a university with just mobile internet,” said Isoun. “You need permanent infrastructure, service-level guarantees, and someone on the ground when a power surge knocks out the indoor router.” Yet despite this need, Nigeria lacks a coherent policy framework to support ISPs in delivering these essential services. Agencies like the Universal Service Provision Fund (USPF), under the Nigerian Communications Commission (NCC), have struggled to meet growing demand due to limited funding and weak execution capacity. “There is no structured effort to guarantee connectivity in strategic sectors,” Isoun adds. “What if we redirected a portion of cash-transfer programs or subsidy savings to fund broadband access in schools and health centers through vetted ISPs?” The continued decline of ISPs, coupled with an overreliance on mobile network operators, risks creating a market imbalance and a developmental gap. While mobile broadband is sufficient for light browsing and messaging, it falls short in powering e-learning, telemedicine, cloud computing, and remote work at scale. One potential path forward could be consolidation. ISPs may need to merge, form consortia, or seek public investment to survive and scale. “We may need a solution similar to what was done with the banking sector: mergers, acquisitions, IPOs, SEC listings,” suggests Nnamdi Richards, a telecom industry expert. “That could help stabilise some of them financially. We’re in the rainy season now, and lightning strikes and flooded communities. This is a nightmare for small ISPs without the capacity to cope.” Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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👨🏿🚀TechCabal Daily – MultiChoice, multistruggles
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning. July 7 marked the Saba Saba (Seven Seven) protests in Kenya, where citizens marched against bad governance and police brutality. Major roads were blocked, and authorities attempted to curtail the demonstrations. If you’re a Kenyan reading this newsletter, please stay safe. PS: If you’re curious about the tech ecosystem in Francophone Africa, sign up for our latest newsletter, TNW: Francophone Africa. We’ll bring the biggest insider insights and analysis of the region’s technology landscape bi-monthly. Sign up here and be the first to know. Let’s get into today’s dispatch! Ghana orders MultiChoice to slash prices by 30% Cameroon fines telcos $4.6 million for poor service delivery Sparkle, a Nigerian fintech, plans to list on the NGX Trump extends US reciprocal tariff deadline World Wide Web 3 Opportunities Streaming Ghana orders MultiChoice to slash prices by 30% Image Source: MultiChoice Someone needs to check on MultiChoice. The pay TV giant is going through it. Imagine losing revenue and subscribers in one financial year, fighting tooth and nail against streaming giants, offering discounts to win back consumers, and still being forced to slash your prices by 30%. Madenning innit? That’s the fate of Multichoice Ghana. Ghana’s Ministry of Communication, Digital Technology, and Innovation has ordered Multichoice to reduce its subscription costs by 30%. Why? Over the past five months, the value of the Ghanaian Cedi increased by 30%. Yet, the prices of DStv subscriptions have not reflected the positive change. Let’s just say the Ministry was not too happy about that. Therefore, they called for a 30% price slash by Multichoice, to match the cedi’s appreciation and pass on such appreciation benefits to consumers. The ministry noted that feedback from public consultations indicated widespread dissatisfaction among users with DStv’s content, which many described as outdated except for Premier League football. Additionally, users felt that the current pricing was not justified. ICYMI: Before the directive was issued, Multichoice Kenya had already started offering promotional discounts, including free upgrades to subscription packages and reducing the price of DStv decoders from $16.25 to $8.56. On the other side of Africa: MultiChoice just increased the prices of DSTV and GOTV subscription packages in Kenya due to the country’s operating environment. These new prices are to take effect by 1st August 2025. In contrast, Showmax prices were reduced to increase access to its streaming content. If you ask me, the company has accepted that streaming is the future, and it’s trying to gain as much ground (and as many screens) as it can. None of this is happening in a vacuum. MultiChoice is dealing with regulatory pressure in many countries, fierce competition from global streamers, price-sensitive consumers, and even ongoing court battles. So yes, someone does need to check on MultiChoice, because Africa’s pay-TV giant is fighting for its future on every front. Paying 2% or more on every transaction adds up fast. For businesses in e-commerce, logistics, travel, fintech, and more, every naira counts. Fincra helps you save more with 1% NGN fees capped at ₦300. Ideal for high-value or high-volume transactions. Get started for free with just your email address! Telecoms Cameroon fines telecom operators $4.6 million for poor service delivery Image Source: Zikoko Memes Somewhere across Africa, people are probably hoping their governments would pull a Cameroon, because when telcos fumble, someone needs to hold them accountable. Cameroon’s two main mobile network carriers, MTN Cameroon and Orange Cameroun, have been fined a combined $4.6 million by the country’s regulatory board for violating their coverage and quality of service obligations. As is in the license, telcos are expected to meet minimum coverage thresholds, maintain service quality, and offer transparent pricing. This sanction stems from investigations carried out by the regulator’s agents between April and May 2024. Their investigations revealed that network coverage was below the required thresholds in certain areas. Orange was found to have malfunctioning opt-out codes for value-added services and pricing irregularities. The company was fined $2.8 million in total, while MTN was fined $1.8 million. This isn’t the first time telcos have been fined in Cameroon. In 2023, Orange, MTN, Nexttel, and Camtel were fined a combined $9.7 million for similar persistent network coverage failures. While the crackdown on poor service might signal stricter oversight, it’s hard to ignore the timing, especially when the regulator announced in April that it was embarking on a debt recovery operation targeting the country’s mobile network operators to claim over $52 million in unpaid dues accumulated over the years. With regulatory debt already piling up to $52 million, Cameroon is walking a tightrope. On one hand, it wants to enforce quality and pricing standards. On the other hand, the country is trying to get the same telcos to settle long-standing debts. The fines may look like a win for consumer protection, but they raise an uncomfortable question: Are regulators using new penalties to plug old financial holes? Drive your business forward with Doroki Whether you are a retail store, restaurant, pharmacy, supermarket, salon or spa, Doroki helps simplify your operations so you can focus on what matters most: your customers and your growth. Manage your business smarter, start here. Fintech Sparkle, a Nigerian fintech, plans to list on the NGX Uzoma Dozie of Sparkle/Image Source: TechCabal Sparkle, a Nigerian neobank founded by ex-Diamond Bank CEO Uzoma Dozie, is eyeing a listing on the Nigerian Exchange (NGX), per Business Day. While the fintech has not revealed its plans around timing or how much it is looking to raise from the bourse, a listing like Sparkle will turn the debate again on the benefits of tech startups going public. Sparkle likely wants to raise capital for expansion. The fintech wants to offer more SME loans, scale invoice financing, and grow its tech infrastructure and teams. However, there are questions whether the Nigerian Exchange (NGX) is a great place to source growth capital? In five years, Sparkle has raised $5.1 million in disclosed funding across two
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Ask an Investor: Africa’s new-crop of investors have a few things to teach the continent
Lessons. That’s the common theme across the past five episodes of Ask an Investor. These episodes could not have been more different. I spoke with one of the most active firms in Africa in terms of recent exits, an ambitious first-time fund manager, an angel investor with 40 startups under his belt, and a geographically ambitious firm relative to its portfolio size. I also allowed six founders to ask questions directly to venture capital analysts, flipping the script on how these conversations typically unfold. Those conversations, expectedly, paint a very colourful picture of how money moves from investors to founders and how founders are expected to handle capital and deliver returns. Across the five episodes, it was apparent that African investors do not believe pure USD dependence or pure local currency isolation is future-proof. Most general partners are focusing on hybrid hedges. This week, my recap of the past five episodes pulls lessons from interviews with Samuel Efosa Austin (ECO Fund), Temidayo Oniosun (40+ deal angel), Ibrahim Sagna (Silverbacks Holdings), Akinyi Wavinya (Madica), and founders with pressing questions about investments. Here are the lessons to be drawn from those conversations: Lesson 1: Exits happen—but they are engineered, not awaited In recent months, Silverbacks has made two partial exits: 29× on LemFi and 5× on OmniRetail. Ibrahim Sagna’s logic about these achievements can be broken down into three simple takeaways: His firm has access to permanent capital and, unlike many VC firms, has no forced 10-year clock. This has allowed them to make some patient bets which are now paying off. Silverbacks’ divestment committee meets annually to match LP (limited partner) liquidity needs with secondary opportunities which has allowed them to return capital to investors annually. They can double down on winners and have re-entered some portfolio companies. Silverbacks has sold and later re-bought Flutterwave and Moove stakes. Meanwhile, the founder-investor roundtable episode hammered home that most African deals die in “seed-stage jail.” VCs admit they will now underwrite only if a plausible secondary route is visible from day one. For founders, this means clean cap tables, transparent reporting and verified unit economics are not nice-to-haves; they are the passport stamps that let secondaries clear. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events TC Scoop <!– Next Wave –> <!– Entering Tech –> Subscribe Lesson 2: The Silicon Valley playbook might not work in Africa Madica’s first thirty months are a case study in unlearning. The team, unlike most VC firms, refuses to focus on Lagos, Nairobi, Cairo or Cape Town and prefers to invest in startups outside Africa’s Big Four hubs. Their $200,000 cheque comes with a biweekly peer forum, mentor office hours, and four immersion trips. For Madica, this approach is important because the firm wants to show that Silicon Valley assumptions like thick secondary markets, talent pools, and Series A funnels do not exist across Africa. Madica, therefore, front-loads what many accelerators outsource: governance templates, data-room hygiene, recruiting, and even founder mental-health triage. For other investors, Madica’s approach shows that if you will not build unique rails for Africa, keep your cheque. Lesson 3: Local capital is scarce—but when it arrives it lowers risk Two fund managers attack the capital-currency mismatch from opposite ends. Silverbacks, which has 90% foreign limited partners, picks founders who earn in USD to hedge depreciation, while ECO Fund wants to raise entirely in naira to prove that data infrastructure can be funded, monetised, and exited in
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