👨🏿🚀TechCabal Daily – Lipa Later, see ya later?
In partnership with Lire en Français اقرأ هذا باللغة العربية TGIF! MTN and Lynk just made the first direct-to-satellite phone call in South Africa. Here’s the Explain Like I’m 5 version of why this matters: Normally, phones need cell towers to work. But this call used a satellite instead—no special phone needed. That means in the future, even the most remote places could have network coverage. Quick Fire with Aderayo Adesokan Lipa Later enters administration Kenyan court orders Marketforce to pay $16,000 in wrongful termination lawsuit Funding Tracker World Wide Web 3 Job Openings Features Quick Fire with Aderayo Adesokan Image: Aderayo Adesokan Aderayo Adesokan shapes how Moniepoint is seen and understood, leading its brand and communications across markets. She manages external messaging, campaign production, global experiential activations, and corporate brand perception, ensuring consistency in how the company presents itself. With experience spanning banking, finance, FMCG, BNPL, insure-tech and entertainment, she focuses on narratives that reflect business priorities and connect with key audiences. She works closely with senior leadership to align communication with strategy, ensuring Moniepoint’s presence remains clear and trusted as it serves over 10 million businesses and individuals in its ecosystem. If you were explaining your work to a 5-year-old, how would you describe what you do? I’d say I’m like Blossom from the Powerpuff Girls – the one who keeps things organised and makes sure everyone’s doing what needs to be done. It’s a bit like being a headgirl for a school, making sure everything’s in order, representing the school in the best way, and ensuring the students are updated with the latest news. And being organised, making sure everyone is on the same page, and ensuring everything runs smoothly. And of course, I try to keep it relatable and impactful. How did you transition from working on digital strategies to leading communications for Moniepoint, one of Africa’s fastest-growing brands? I spent a lot of time in creative advertising, working with transformative technologies like augmented and virtual reality, helping big brands communicate in innovative ways. But I found myself wanting to focus more deeply, rather than hopping between industries. I realised my strength was in strategic thinking, ideation, and project management. After researching the tech space, I saw a great fit for my skills in roles like digital communications. When a role at Moniepoint opened up, I knew it was the right opportunity. Fast forward, here I am, leading brand and communications for one of Africa’s rapidly growing financial brands, and I don’t regret the decision for a second. What does it take to build a brand presence that not only stands out but also resonates globally in such a competitive tech landscape? It takes grit, intentionality and clarity. When I joined Moniepoint, we had almost no digital presence, so I had to build it from the ground up. The key was creating storytelling that resonated locally while also being globally recognised. Had to hack showing trust, impact, and connecting with real people. From the start, we knew we were shaping something bigger than just a payment system or financial solutions. It was purposefully creating value that felt genuine and belonged in people’s lives. It’s not always easy, and it takes persistence, but with the right direction and consistency, people will notice. You’ve worked on strategic communications that attracted investor interest in startups. What’s your approach to crafting messaging that inspires trust? It’s two words for me, impact and relatability. Investors want to see the value in what you’re doing, but also want to feel a connection to the brand and its journey. Crafting a message that shows how your product or service can make a difference and speak to real needs is super crucial. Of course numbers are important, but at the heart of it, investors want to know that the brand aligns with their values and has a clear, positive impact. There is a lot of critical thinking that goes into weaving even a sentence or a report to align with specific messages to a certain audience. Storytelling is central to your work. How do you balance the need for compelling narratives with driving measurable business results? Everything we do has to be measurable (Let’s not do things for vibes or because it’s cool). I’m fortunate to work with amazing colleagues like Tosin and Didi at Moniepoint, who have helped me refine the art of data-driven decision-making. We don’t create content just for the sake of it – I may sound like a broken record to people cause this is my mantra. Each story has a purpose. Each piece of communication, be it digital, a campaign, hard paper, or whatever, has to have a purpose or something you want people to take out that falls within the context of the business direction at the time cause we yield the perception. I always ask, and it’s embedded in my subconscious: Why are we telling this story? How does it connect with the brand and the audience? Does the data support it? In the end, it’s not just great storytelling; it’s important to align that storytelling with the company’s broader goals and making sure we can measure its impact. What’s the biggest lesson you’ve learned about shaping a company’s public perception, and how has it shaped your career? “Thank you very much for that question” *breaths in* … my biggest lesson- is it takes time to knock a narrative into people’s heads – I know that sounds a bit rough. So many theories tell you the what and the hows, but not how important it is to be a brand that people see themselves in. Experiences are great but ensuring your audience can relate to the brand’s journey. This has shaped my approach to communications, teaching me to be patient and deliberate. The longer you nurture a narrative, the more people will connect with it. It’s not always instant, but with consistency, people begin to see themselves in your brand story. What advice would you give
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16 venture capital firms in Africa actively funding startups in 2025
A Venture Capital firm provides funding, strategic guidance, and other resources to startups with high growth potential, ranging from early-stage to later-stage companies. Unlike taking a loan, VC investments do not require repayment if the startup fails. Instead, VC firms take an equity stake in the company, meaning their returns depend on the startup’s success, incentivising VC firms to create the success of their portfolio startups. VC firms typically raise capital from high-net-worth individuals, larger funds, and institutions like development finance institutions, using these funds to build a diverse portfolio of startups. Due to the potential for high returns, venture capital is a highly competitive funding source, with investors actively seeking out innovative businesses poised for rapid growth. Here are some of the active VC firms actively investing in African startups. 16 venture capital firms actively funding African startups in 2025 1. 54 Collective (Founders Factory Africa) Summary of 2025 Investment Activities: Despite the planned shutdown of its venture studio operations by April 30, 2025, following the conclusion of its partnership with the Mastercard Foundation, 54 Collective’s $40 million venture capital fund, UAF1, remains active and committed to investing in African startups. Website checks confirm recent investment activity in late 2024 and early 2025, including a partnership announcement with Carbin Africa in 2024. Notably, 54 Collective was recognised as Africa’s most active pre-seed investor for deals exceeding $100,000 in 2024, underscoring their continued significance in the early-stage funding landscape. Primary Investment Focus: 54 Collective adopts a sector-agnostic approach, allowing them to invest in a diverse range of startups across various industries. Their primary focus is on pre-seed and seed-stage companies operating across Africa. This broad mandate enables them to identify and support promising ventures at their earliest stages, regardless of their sector. 2. Accion Venture Lab Summary of 2025 Investment Activities: Accion Venture Lab expanded its investment portfolio by investing in SUKHIBA, an AI-powered conversational commerce platform in Africa. The firm also co-invests with firms like Baobab Network, highlighting their collaborative role within the ecosystem. Primary Investment Focus: Accion Venture Lab’s primary investment focus is on financial inclusion, targeting innovative startups that address the financial needs of underserved populations globally, with a significant emphasis on Africa. They typically invest in companies at the early and seed stages. 3. Ajim Capital Summary of Investment Activities: Ajim Capital has actively deployed capital across 22 companies since its inception in 2022. This activity level positions them as a significant early-stage investor in the African tech landscape. While specific names of the 22 companies invested in during early 2025 were not detailed in the report by Weetracker, the sheer number of investments underscores their active role in funding African startups across various sectors. Primary Investment Focus: Initially adopting an agnostic approach, Ajim Capital increasingly focuses on sectors such as B2B SaaS, HealthTech, PropTech, and Developer Tools, alongside their continued interest in the broader technology space. They typically invest in companies ranging from Early to Growth stages, with a geographical focus on Africa, particularly Kenya and Nigeria. 4. Aruwa Capital Management Summary of 2025 Investment Activities: Aruwa Capital Management is a female-founded and led growth equity impact investment company based in Lagos, Nigeria. They hosted a strategy retreat to refine their focus for the year and were featured in the PEVCA Nigeria 2024 Year-End Report. The firm also actively participated in the Demo Day of the Transitioning to Tech for Women Programme, underscoring its commitment to gender-lens investing. Additionally, they conducted strategy sessions with new and existing portfolio companies, indicating a hands-on approach to supporting their investments. Primary Investment Focus: While their initial focus was relatively agnostic, they strongly emphasise gender-lens investing, supporting rapidly growing companies that provide essential goods and services to the female economy or are founded or co-founded by women. They invest across the early-stage, seed-stage, seed-to-growth, and Series A stages, primarily targeting Nigeria and the broader West African region. Read More: Aruwa Capital, a female-led equity fund, has closed its first institutional fund, surpassing its $20 million target. 5. Capria Ventures Summary of 2025 Investment Activities: In March 2025, Capria Ventures announced its intention to invest between $1 and $3 million each in two more African Series A startups. This clear statement signals their active interest and availability of capital for growth-stage ventures in the African market. Primary Investment Focus: Capria Ventures is an impact-driven venture capital firm focusing on key sectors such as fintech, agtech, HR tech/job tech, edtech, health tech, and B2B SaaS. Their primary investment stage is Series A, targeting companies in emerging markets, specifically Nigeria, Kenya, and Egypt. This strategic focus allows them to support companies that have already demonstrated product-market fit and are ready to scale. 6. Catalyst Fund Summary of 2025 Investment Activities: While specific investment news for 2025 is not prominent, the Catalyst Fund has built a significant portfolio of 81 companies across 19 markets since its inception in 2015, strongly emphasising ventures in Africa. Primary Investment Focus: The Catalyst Fund specialises in supporting early-stage startups in the agritech, cleantech, healthtech, and insurtech sectors, with a broader focus on technology solutions that promote climate adaptation and resilience in Africa. They typically provide pre-seed and seed-stage funding to emerging market companies with a significant African concentration. 7. DOB Equity Summary of 2025 Investment Activities: DOB Equity commenced 2025 with a strategic investment in Spouts International, a Ugandan company specialising in ceramic water filters. This investment, made in January 2025, marks the first under DOB Equity’s revised investment strategy, emphasising sustainable solutions and impact-driven ventures within the East African region. Primary Investment Focus: DOB Equity’s investment focus centres on the agritech, edtech, and fintech sectors, mainly focusing on companies operating in East Africa. They typically provide funding to businesses in the early to growth stages. This regional and sector-specific approach allows them to build deep knowledge and provide tailored support to their portfolio companies. You Might Also Like: DOB Equity shakeup as co-CEOs step down in leadership overhaul. 8. Flourish Ventures Summary of 2025 Investment
Read MoreStarlink price in Africa: full breakdown by country (March 2025)
Starlink has made significant strides in its expansion across Africa. As of early 2025, the satellite internet service is confirmed to be operational in many countries, demonstrating its commitment to the African market. The first African nation to embrace Starlink was Nigeria in January 2023. Since then, the service has rapidly expanded its reach to include: Benin (November 2023) Botswana (August 2024) Burundi (operational following license approval in March 2025) Cape Verde (December 2024) Eswatini (December 2023) Ghana (August 2024) Kenya (July 2023) Madagascar (June 2024) Malawi (July 2023) Mozambique (June 2023) Niger (March 2025) Rwanda (February 2023) Sierra Leone (June 2024) South Sudan (August 2024) Zambia (October 2023) Zimbabwe (September 2024). This rapid deployment across diverse African nations underscores Starlink’s aggressive strategy to tap into the continent’s growing demand for high-speed internet. Looking ahead to 2025, Starlink has indicated plans for further expansion. Namibia is one country where a launch is anticipated later in the year. However, the path to operation is not always straightforward. In Lesotho, for instance, while Starlink has gone live in several neighbouring Southern African countries like Eswatini, Botswana, and Zimbabwe, there are no confirmations regarding a launch date. Similarly, South Africa presents a unique case. Despite being the birthplace of Starlink’s founder, Elon Musk, and a significant economy on the continent, Starlink faces substantial regulatory hurdles related to local ownership requirements. South Africa’s Black Economic Empowerment (BEE) policies mandate that foreign-owned telecommunications licensees allocate at least 30% equity to historically disadvantaged groups. This requirement has been a point of contention, with Starlink yet to meet these conditions for operation in the country. Starlink price: country-by-country breakdown in Africa (2025) The cost of Starlink services in Africa varies across different countries, reflecting many factors. Below is a detailed breakdown of the pricing information available for each operational country in 2025. Benin: The hardware cost for Starlink in Benin is reported to be approximately $650 – $700, which translates to around 400,000 FCFA to 415,000 CFA. The monthly subscription fee ranges from $47 – $50, or 30,000 FCFA to $47.12. Additionally, there is a shipping and handling fee of approximately $24 (15,000 FCFA). These figures suggest that the initial investment for Starlink in Benin is relatively substantial, while the monthly cost aligns with a premium internet service. Botswana: In Botswana, the hardware cost is reported to be between $359 and $363. Paratus Africa, an authorised reseller, lists the standard kit at P5,000 and the Mini kit at P400. Monthly subscription fees vary depending on the plan. Reports indicate a range of $28 – $52. Paratus offers Residential Lite at P400 per month and Residential at P688 per month. For businesses, Paratus provides Priority Service plans ranging from BWP 1,230 (for 40GB) to BWP 8,950 (for 6TB), all on a 36-month contract. Mobile Priority Service plans for businesses start at BWP 15,745 for 50GB, also under a 36-month contract. These tiered offerings indicate a strategy to cater to individual and business needs with varying data requirements. Burundi: While specific pricing details directly from Starlink for Burundi are somewhat limited, one source indicates that residents will pay $299 for standard hardware or $599 for the mini version. Monthly service costs range from $50 for 50 GB to $165 for unlimited data. Another source lists the hardware starlink price at KSh 70,000, approximately $437, based on current exchange rates. This suggests a hardware cost of $300 to $600, with monthly subscriptions starting at $50. Cape Verde: Starlink officially launched in Cape Verde in December 2024. The hardware cost is reported as CVE 39,000, approximately $373, with the Mini dish available for CVE 20,000, or $191. Subscription plans include a Residential Plan at CVE 5,000 per month ($48), offering standard connectivity, and a Residential Lite Plan at CVE 3,500 per month ($34), providing a more affordable option with deprioritised unlimited data. The availability of standard and lite options caters to different user needs and budgets. Eswatini: In Eswatini, the residential service costs R950 per month, with an additional R120 per month for a “regulatory fee”. The residential-grade dish kit costs R12,000, with shipping and handling costing an extra R450. For business users, the high-end hardware costs R54,625 (plus R1,000 for shipping and handling), and priority connectivity pricing starts at R2,185 per month for 1TB of priority traffic. Converting these to USD at an approximate exchange rate of $1 = 18 ZAR (South African Rand), the residential monthly cost is around $53 + $7 regulatory fee, the hardware is approximately $667, and business plans start at around $121 per month. Ghana: Starlink’s official operations in Ghana began by the end of August 2024. The residential service is priced at GH₵770 per month, with a hardware cost of GH₵5,390. Another source indicates a monthly fee of GH₵500 for Residential Lite. Converting to USD at an approximate exchange rate of 1 USD = 14.5 GH₵, the standard residential monthly cost is around $53, the hardware is approximately $372, and the Residential Lite monthly cost is about $34. These prices position Starlink as a premium internet option in the Ghanaian market. Kenya: Starlink offers its residential service in Kenya for Ksh4,000 per month for Residential Lite and Ksh6,500 per month for the standard Residential plan, with a hardware cost of Ksh49,900. Using an approximate exchange rate of 1 USD = 128 Ksh, the Residential Lite monthly cost is about $31, the standard Residential monthly cost is around $51, and the hardware cost is approximately $390. These prices appear to be more competitive compared to some other African markets. Read more: Starlink suspends new subscriptions in Nairobi due to network overload Madagascar: Pricing information for Madagascar indicates a monthly fee of around $28 – $50 and a hardware cost of $250 – $378. One Reddit user mentioned a Mini option at $30/month and a kit cost of $200. These figures suggest a relatively affordable entry point for Starlink in Madagascar compared to other African nations. Malawi: Starlink’s residential service in Malawi starts from MK94,000
Read MoreJiji bets on Bangladesh’s growing e-commerce market in first Asian expansion
African e-commerce platform Jiji, is making its first foray outside the continent. The company will launch in Bangladesh, drawn to its growing middle class and increased mobile connectivity. The move signals the company’s ambition to tap into high-growth emerging markets beyond Africa. Bangladesh’s e-commerce sector is projected to reach $13 billion by 2027, according to Payments and Commerce Market Intelligence (PCMI). Jiji, which currently operates in seven African countries—Ethiopia, Ghana, Kenya, Nigeria, Tanzania, Uganda, and Senegal—sees Bangladesh as a natural next step. With 131 million internet users and a growing appetite for digital shopping, the South Asian nation offers the company a chance to grow its current 12 million monthly active users. “With a solid financial foundation and a scalable business model, we have grown into a profitable leader in Africa’s e-commerce space,” a Jiji spokesperson said in an email to TechCabal. “Our success in Africa has shown us how to navigate fast-growing markets, and we believe Bangladesh has the same potential for Jiji to thrive, helping to grow the e-commerce sector.” Bangladesh is an emerging player in the Asia-Pacific e-commerce market thanks to government policies targeted at driving e-commerce growth. One of such policies is the Information and Communication Technology (ICT) Act of 2006 which provides the legal framework for online transactions and addresses cybersecurity concerns. The government also formulated national ICT policies to guide the development of the digital economy, including e-commerce. These initiatives, coupled with a rising middle class, have created fertile ground for e-commerce expansion. In 2024, 79% of Bangladeshi consumers shopped online, and 47% expressed comfort making payments on digital platforms, according to a PCMI survey. Jiji’s entry into Bangladesh will put it in direct competition with established players such as Daraz, Bikroy, and Ajkerdeal, which have strong brand recognition and consumer trust. To replicate its African success, Jiji will need to differentiate itself through localized offerings and strategic partnerships. Founded in 2014, Jiji initially broke into Nigeria’s competitive e-commerce market by offering free listings for first-time users and partnering with phone manufacturers to preload its app on affordable smartphones. The company also struck a 2016 deal with Airtel to provide data-free access to its platform. It raised $21 million in 2019 and acquired OLX Africa, taking over its operations in Nigeria, Kenya, Ghana, Uganda, and Tanzania. This move helped Jiji reach 300 million people across five countries. In 2021, Jiji acquired Cars45, a platform that buys, sells, and trades used cars in Nigeria, Kenya, and Ghana. The following year, the company acquired Tonaton, its main competitor in Ghana. Jiji’s playbook worked in Africa. The company hopes to replicate the success in Asia.
Read MoreMarketforce ordered to pay $16,000 in wrongful termination case
A Kenyan court has ordered Marketforce Technologies, once a rising star in Africa’s B2B e-commerce sector, to pay KES 2.1 million ($16,000) to a former employee for wrongful termination. The ruling comes nearly a year after the Y Combinator-backed startup shut down RejaReja, its flagship B2B marketplace, leaving its future uncertain. Its co-founder, Tesh Mbaabu, has since moved on to launch a social commerce platform, Chpter. Tom Maina Chege, a former product manager who worked at Marketforce from January 2022 to August 2023, filed the case in October 2023. Chege, whose monthly gross salary was KES 200,000 ($1,550), was laid off in July 2023, with his termination taking effect in August. He argued that the redundancy was unlawful, as “the notice period of 30 days did not lapse before the redundancy took effect”, and Marketforce failed to notify the Labour Office, a requirement under Section 40 of the Employment Act, 2007. Chege sought KES 1,560,870 ($12,000) in compensation for unpaid leave, notice pay, severance pay, salary arrears, and general damages, according to court documents seen by TechCabal. After Marketforce failed to defend the suit, Judge C.N. Baari ruled that the redundancy was procedurally and substantively unfair. The court awarded Chege KES 1,316,547 ($10,000) in terminal dues and KES 800,000 ($6,000) in compensation and legal costs. “[Marketforce] did not attempt to comply with the seven steps set out in Section 40(1) of the Employment Act, 2007,” the ruling stated. Staff exits and pay cuts The judgment sheds light on Marketforce’s internal troubles, which three former employees say began with mass staff exits in late 2022 and 2023. The company lost key employees, which affected operations and strained relationships with major distributors. “Marketforce had a credit line with major manufacturers, which enabled them to get stock and pay later,” a former employee who asked not to be named told TechCabal. “This was ended when we started having issues, and employees who were the glue holding the deal left.” At the same time, Marketforce faced severe cash flow problems, resulting in salary delays and pay cuts of up to 50% for non-tech employees. Despite raising over $40 million from investors such as Reflect Ventures, Greenhouse Capital, and Century Oak Capital, the company’s abrupt exit from the B2B e-commerce space in 2024 left its current status unclear. While Marketforce’s fate hangs in the balance, co-founder Tesh Mbaabu has shifted his focus to Chpter, a platform helping businesses sell via social media. In September 2024, Chpter closed a $1.2 million pre-seed round led by Pani, an Africa-focused investment firm co-founded by former Cellulant CEO Ken Njoroge. The company is also part of the Safaricom Spark and Norrsken Accelerators. Whether Marketforce can revive itself and stage a comeback remains to be seen.
Read MorePalmPay rolls out Verve debit cards as Nigerian fintechs shift to local providers
PalmPay, the Nigerian fintech with over 35 million users, has launched its first debit card in partnership with Verve, marking a major step in its evolution from a mobile wallet to a full-service digital financial platform. The move comes amid a broader shift by Nigerian fintechs toward local card schemes, as rising costs and declining international spending make global providers like Visa and Mastercard less attractive. The debit card launch comes three weeks after Palmpay’s partnership with the national domestic card scheme, AfriGo, to distribute five million contactless payment cards across Nigeria. Now, it is integrating Verve-powered debit cards directly into its digital wallet. The company says it will distribute the cards through its network of over one million agents nationwide. With its expansive reach, PalmPay expects to onboard millions of cardholders by the end of the year. Palmpay debit cards come in two tiers: a standard version available to all users and a premium version linked to a new membership program. To upgrade to premium status, users must maintain a monthly balance of at least ₦20,000 and transact a minimum of ₦500,000 per month. Premium members will earn up to 36% annual savings interest—compared to 20% for regular users—and receive higher cashback rewards and merchant discounts. Why now? For years, Palmpay has focused on building scale, user trust, and backend infrastructure, according to Sofia Zab, its chief marketing officer. The company waited until it could deliver card services integrated into the PalmPay wallet, Zab said. “There are third-party APIs that let you spin up prepaid cards quickly, but we took a more deliberate route,” she said. “We formed a direct partnership with Verve so we could design a product that truly fits the needs of Nigerian consumers.” Palmpay’s debit card partnership continues the wave of Nigerian fintechs partnering with local card schemes due to rising costs for international card providers and reduced customer spending. Opay and Moniepoint have both issued about 17 million Verve cards post-pandemic, ditching international partners like Visa and Mastercard. Carbon, the Nigerian digital bank known for its loans-led approach to banking, recently partnered with Verve to resume issuing debit cards nine months after pausing card operations. The debit card launch comes at a time when much of Nigeria’s fintech ecosystem is leaning towards bank transfers. HabariPay, the fintech subsidiary of one of Nigeria’s biggest banks, is betting its future on increased transfers. Paystack also recently launched Zap by Paystack, its first consumer app, on that promise of increased transfer volumes. Despite the surge in bank transfers, PalmPay believes cards still serve a crucial segment of Nigerian consumers. “Not every user is a young, digital-first Lagosian. Some live in towns with limited phone access or want the flexibility to shop online,” Zab noted. “If we want to serve every Nigerian, we need to build for every Nigerian, and that includes access points such as our app and also our agents, USSD, and now cards.” The bigger play PalmPay’s ambitions extend beyond payments. The company has quietly rolled out a growing suite of banking services, including savings, credit (through a licensed partner), and an insurance product launched in partnership with AXA Mansard and Leadway. PalmPay claims that over one million users have already adopted its insurance offerings. “We are much more than a digital wallet or POS company,” Zab said. “We’re building a full financial ecosystem—one that works for every Nigerian, no matter where they are on their financial journey.” The fintech also plans to expand its nationwide presence by opening more offices and experience centers to support its growing customer base. PalmPay’s bet on cards suggests that, in the race to redefine banking in Africa’s most populous economy, fintechs are realizing that old-school banking tools still have their place.
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👨🏿🚀TechCabal Daily – Pay up or pack up
In partnership with Lire en Français اقرأ هذا باللغة العربية Happy pre-TGIF! Have you tried ChatGPT’s new AI Image feature? On Tuesday, ChatGPT’s parent company announced the launch of GPT-4o native image generation, which allows users to upload and modify images. We tried generating a couple of anime-type (Studio Ghibli) images, and we were impressed with the results. In other news, our subject for this week’s My Life in Tech column wants you to work like you own the company. Find out why here. Tunisia to suspend Bolt for alleged tax evasion Russian auto-maker AvtoVAZ enters Nigeria MTN and Airtel team up to cut costs, boost coverage Jumia and Jiji say Temu’s advertising show-off can’t touch them World Wide Web 3 Opportunities Ride-hailing Tunisia to suspend Bolt for alleged tax evasion Image Source: Wunmi Eunice for TechCabal Bolt is in hot water in Tunisia. The ride-hailing giant is facing allegations of tax evasion, money laundering, and operating without proper licenses. Tunisia’s transport ministry says it has seized 12 million dinars ($3.8 million) from accounts linked to several platforms, including Bolt, claiming the funds were illegally transferred abroad. But this isn’t just about alleged wrongdoing—it’s also about control. Tunisia is getting ready to launch its own state-backed ride-hailing app to regulate fares and keep revenues local. The new platform will reportedly limit ride prices to 1.5x the traditional taxi fare, offer digital payments and real-time tracking, and work exclusively with officially registered taxis. Bolt, for its part, says the accusations are “completely unfounded” and that the government’s actions are procedurally flawed. “All local authority actions have been taken without the involvement of an investigating judge,” the company told TechCabal, adding that it hasn’t been given a chance to defend itself. The transport ministry claims its actions are part of a broader effort to “reform the transport sector” and protect the local market from foreign apps that transfer profits abroad. Bolt, however, warned that pushing out international players sets a dangerous precedent for market competition. Meanwhile, other platforms like Yassir, Heetch, and local operator Amigo remain active in Tunisia. Uber and Careem never entered the market. For now, Bolt says it’s still operating as usual. But with the state gunning for its own slice of the ride-hailing pie, the road ahead may be anything but smooth. Freelancers & remote workers, we want to hear from you! Fincra is exploring the challenges Nigerian freelancers and remote workers face with international payments. Share your experience and help contribute to building better payment solutions. Take the survey now! Mobility Russian auto-maker AvtoVAZ enters Nigeria A Lada Vesta SW Sedan/Image Source: avtoVAZ For a change of scene, you could soon be seeing less of the Toyota cars that dominate Nigerian roads. Russian giant auto-maker AvtoVAZ has expanded to Nigeria, flush with the bright plan to establish a local assembly plant—which many foreign players in the auto market fail to do. This could endear AvtoVAZ to the government as an assembly plant directly points to paying manufacturing incentives and company taxes; the government loves its taxes. AvtoVAZ is coming in with three heuristics: first, it will prioritise assembling its small car brand, Lada, knowing that Nigerians typically buy second-hand cars due to their low-price points, compared to luxury local car-makers like Innoson and Nord Motors. The price for Lada cars being sold in Europe—such as the Lada Vesta 4×4 Sedan—start at CHF13,200 (₦23 million or $14,920). This is a mid-range price (and a little steep) for Nigerians despite the current price inflation tightening the auto market. But there is an opportunity for AvtoVAZ to enter the market with a lower price point for its popular sedan brand, but it is unclear if it will. Second, it is following a trend. Its Lada vehicles will come fitted with compressed natural gas (CNG) engines. This could entice gig drivers who have been retro-fitting their cars with CNG engines as a response to the high fuel costs. AvtoVAZ also thinks that CNG vehicles are the future of the Nigerian auto market. Third, it will establish a local assembly plant, which is the icing on the cake. Across Africa, several countries (like Egypt) have been creating policies to entice more foreign players to invest in the local auto manufacturing economy, rather than just dumping their cars in the market through distribution units. AvtoVAZ will be the first-ever Russian auto brand to operate in Nigeria, and if its plans actually take off, it could carve out some market share by investing locally and adding some spice to the local manufacturing market. Plus, its logo already looks like Toyota’s with that familiar oval shape—so if nothing else, at least Nigerians won’t have to miss Toyota’s logo too much. Introducing Paystack’s new consumer app — Zap! Zap by Paystack is a mobile app for instant, secure payments via bank transfers. Download Zap on Android and iOS → Telecoms MTN and Airtel team up to cut costs, boost coverage Image source: Google MTN Group and Airtel Africa have decided to put competition aside—at least when it comes to their towers—by signing a network-sharing agreement in Nigeria and Uganda. Faced with skyrocketing costs and a naira that just won’t cooperate, the two telecom giants are taking a “why build two when we can share one?” approach. The plan: pool resources, cut costs, and bring better mobile coverage to areas that need it most. Nigeria, their biggest battlefield, has been a tough nut to crack lately. With the naira playing a game of “how low can you go?” network expansion has gotten ridiculously expensive. Yet, MTN still managed to snag 51% of the market with 87.5 million subscribers, while Airtel is holding steady at 57.6 million. Ralph Mupita, MTN’s CEO, says the partnership will help meet Africa’s growing digital appetite—because let’s be real, nobody likes a buffering screen. Adding a little regulatory spice to the mix, the Nigerian Communications Commission (NCC) gave telecom operators a three-month deadline to boost infrastructure after approving price hikes. With only
Read MoreLipa Later enters administration after failed fresh fundraising efforts
Lipa Later, a Kenyan buy-now-pay-later (BNPL) fintech, has been placed under administration effective March 24, 2025, after months of financial struggles and failed fundraising efforts. Joy Vipinchandra Bhatt from Moore JVB Consulting LLP has been appointed administrator, according to a gazette notice seen by TechCabal. This latest development caps a turbulent year for Lipa Later, which has struggled to secure fresh funding since its last capital injection—a $3.4 million debt raise in September 2023—leaving it unable to pay employees and suppliers. Entering into administration means the company’s directors have lost control of its assets and operations, with decision-making authority shifting to the appointed administrator. Creditors have until April 23 to submit claims as the company’s future hangs in the balance. “We are currently engaging all key stakeholders of the company to elicit their cooperation in order to achieve the best possible outcome for the company,” Bhatt said. At least five employees told TechCabal they had not received salaries for several months as of December 2024. Lipa Later also owed several suppliers, including London-based consultancy Africa Foresight Group (AFG), which sued the company in 2024 over an unpaid $13,516 consultancy fee, according to court documents seen by TechCabal. The dispute with AFG, which was contracted in April 2022 to prepare a market report, escalated after Lipa Later withheld payment, claiming the work was substandard. In a December 2024 ruling, Kenya’s High Court dismissed Lipa Later’s defense, stating the company had admitted to the debt in internal correspondence. “It is therefore clear to me that the amount demanded in the statutory demand is, in fact, not disputed, and the debtor (Lipa Later) is estopped from claiming so having admitted to the debt,” Justice Mong’are said in the ruling. The court also ruled that Lipa Later failed to meet the legal threshold of showing a genuine and substantial dispute over the debt. From investor darling to financial distress Lipa Later had previously strong investor backing, raising $12 million in seed funding in January 2022 from Cauris, Lateral Frontiers, and others, alongside undisclosed debt from the same investors. Earlier rounds saw seed investments from Orbit Startups in 2021 and Founders Factory Africa in 2019. Despite early investor confidence, the company failed to raise more funding in 2024. One top executive, who wished not to be named for discussing confidential information, claimed the company was close to securing a deal in Q4 2024, but it never materialised. The company’s financial position came under scrutiny in December 2023 when it acquired struggling e-commerce platform Sky.Garden for KES 250 million ($1.9 million). The deal raised concerns about Lipa Later’s financial health, as it was already grappling with mounting obligations at the time. Lipa Later’s fate now rests on whether its administrator can restructure its operations or find a buyer willing to take a chance on its BNPL model.
Read MoreFrom Okada Books to PiggyVest: Martha Kingsmike wants 9-5ers to work like they own a startup
Swipe away on Martha Kingsmike’s Instagram stories, and you might catch her mid-workout—legs splayed in a precarious split, stretching before or after a grueling gym session. You hold your breath, half-expecting her legs to buckle. They don’t. Spend two hours talking to her, and it’s clear: that’s how she lives—pushing her boundaries, testing her limits. Take 2024, when she juggled three jobs like a high-wire act: full-time product marketing associate at PiggyVest, Nigeria’s fintech darling; social media consultant for GoLemon, a fast-rising grocery delivery startup; and a five-month audience engagement contract with openDemocracy. By the end, she was running on fumes, but the quality of her work never suffered, she claimed. When I ask what fuels this relentless multitasking, she says, “Passion and money.” The openDemocracy contract, now mercifully over, outpaid her full-time gig at PiggyVest at the time, but it was dull. PiggyVest, on the other hand, keeps her sharp and on her toes. She’s either turning the chief marketing officer’s scattered sparks of ideas into full-blown strategies, chasing down designers to keep content on schedule, or crafting high-stakes influencer campaigns—all while ensuring PiggyVest’s online persona stays witty yet safe, never spooking users who have millions saved in the savings platform. Meanwhile, at GoLemon, she gets to play. The budding startup lets her audience engagement strategies lean into the chaotic humour that would be risky at PiggyVest but stimulating for shoppers. It also allows her to experiment more without the bureaucracy typical of late-stage startups. One night, in an ADHD-fueled sprint, she shot 30 videos for a 30-day challenge—and reach increased sevenfold. With nine years of marketing and audience engagement under her belt, Kingsmike has built a reputation that keeps job offers rolling in, all of which she has been declining in the past year. “I’m not being cocky or anything,” she says during our virtual interview, “but I’m great at what I do.” In her LinkedIn header, she describes herself as “superhuman.” But she wasn’t always this confident. Founder mode Kingsmike began her career at Okada Books, a now-defunct digital publishing startup, landing an internship after university. With a literature background and experience promoting her own blog, the audience engagement role suited her perfectly. The CEO called 30 minutes after she applied, offering a higher position due to her strong resume, but lacking formal experience beyond a one-off gig, she chose the content marketing internship instead. Nonetheless, three weeks in, she was promoted, and three months later, the then-five-year-old startup started facing serious challenges. Launched in 2013, Okada Books disrupted publishing with instant author payments and joined Google’s 2018 Launchpad Accelerator alongside PiggyVest (then PiggyBank, where Kingsmike now works) and three other Nigerian startups. As at the time she joined, key staff members, like the social media manager, were quitting without replacements. Kingsmike stepped up, learning on the fly and leaning on teammates to fill technical gaps necessary to keep the content marketing machine running. “I’m not the type of person to come into a company and just do my job. I try my hands at everything. I’m like a sponge—I absorb everything around me,” she said. This high agency mentality is one many in the tech ecosystem describe as ‘founder mode’—operating with the intensity, adaptability, and problem-solving drive of a startup founder—to get things done. By late 2019, exhausted and dissatisfied, Kingsmike left Okada Books. “I thought maybe it’d get better or I wanted better pay, but it wasn’t about the salary—I knew it was time to go.” Kingsmike joined TechCabal shortly after, where she worked to boost its online presence, balancing humorous audience engagement with credibility. After two years, having worked across both TechCabal and its sister publication, Zikoko, she moved on again when the role no longer inspired her. Growing with Piggyvest In search of a bigger challenge, Kingsmike took up an audience engagement management role at Pocket, a fintech platform acquired by PiggyVest. “It opened me up to a whole new world of fintech where things hardly stayed the same and where I could move out of my bubble to gain insight into how consumers actually behave with money,” she said. Like her time at Okada Books, she arrived during a period of transformation. Pocket, a recent acquisition of Piggyvest, initially built as a social payments app, was evolving, and so was her role. Though hired as an audience engagement manager, as the platform shifted, she transitioned into product marketing. When her team lead left, Kingsmike filled the gap just as she had done at Okada Books, saying she “had to keep the team in rhythm and make sure we stayed on track.” This ownership mindset has defined her career and has transformed her from a believer in switching jobs every few years into someone who now sees the value of growing within a great company. “I saw someone on LinkedIn who started working at Microsoft in 2001. They’ve had 15 roles, but they’re still there. That made me think: Just find a good company, stick there, and grow. I think I’ve found that at PiggyVest.” While a few startups, including the Stripe-owned Paystack, have gained attention for high employee retention, high churn is more common, driven by layoffs, shutdowns, toxic work culture, and more. The idea of spending half a decade in a company you have no equity in is almost radical in Nigeria’s tech ecosystem, where job-hopping isn’t just ambition but survival. Kingsmike acknowledges her privilege. “It’s sad how lucky a hardworking person has to be to find a place where they can work for a long time,” she said on a call. However, she believes there are indicators for spotting such companies: a thoughtful evaluation can show whether a company fosters an environment where high-performing people thrive. “You don’t have to wait until you’re employed to figure out a company’s growth trajectory,” she explained. “My research on PiggyVest, [before joining the company] showed that many mid- and high-level employees started as interns. Some began in one department and later moved
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In Egypt, AgriCan’s robots make farming smarter, one field at a time
Where once workers would toil under the heavy heat, sleek, wheeled robots glide silently between rows of strawberry plants on Abdel Rahman Abdel Karim’s farm in Egypt’s Nile Delta. Mechanical arm rise and swivel, releasing a fine mist of chemicals with pinpoint accuracy onto the leaves below. In 2023, when Abdel Karim was battling a severe infestation of powdery mildew and needed an immediate remedy, these robots became a lifeline. “It was the first time we saw robots outside of the internet,” he told TechCabal. “They sprayed pesticides quickly and with precision, something that would have taken human labor much longer and with less accuracy.” Each year, around the world, an average of 10 to 28 percent is lost to agricultural pests, driving a global reliance on herbicides and insecticides. These chemicals, according to the World Health Organization (WHO), are among the leading causes of fatal self-poisoning in low- and middle-income countries. In 2015, Salem Ghanam, then a young engineer, was hospitalized in a rural Egyptian province. Bedridden for days, he encountered dozens of farmers suffering from a number of respiratory ailments, all sparked by excessive pesticide exposure. Years later, tasked to come up with an AI-driven innovative solution while studying for his senior year, Ghanam recalled the plight of these farmers. “I realised Egypt has a serious problem with the uncontrolled use of pesticides, which can cause cancer,” he explained. “Farmers often don’t wear protective gear due to a lack of awareness, and because spraying usually happens in the summer, the heat makes wearing such equipment unbearable.” Motivated by this, Ghanam gathered a team of university peers and experts to develop precision pesticide-spraying devices, and what began as a student project grew into a full-fledged agritech startup, and in 2020, AgriCan was born. AgriCan leverages robotics and smart technologies to boost crop yields and quality by cutting pesticide use and improving crop monitoring. Initially focused on drones, the company shifted in 2022 to ground-based robots equipped with AI and Internet of Things systems. The robots, using cameras and data analytics, would diagnose plant diseases and deliver targeted pesticide doses reducing waste and environmental impact. Structural barriers AgriCan’s mission unfolds against a backdrop of deeply rooted challenges. Many Middle Eastern and African countries remain reliant on rudimentary or outdated agricultural techniques, in stark contrast to countries like the UAE and Saudi Arabia, which have advanced in areas such as vertical farming and AI-driven agriculture. Yet, much of the region lags behind, slow to adopt sustainable and productivity-enhancing technologies. “The issue stems from the dominance of smallholder farmers in Egypt, who rely on traditional practices due to limited financial resources,” UN expert on agricultural sustainability Mohammed Ali Faheem explained. “Additionally, there’s a general lack of technological literacy among farmers, leading to hesitation in adopting new tools.” There are also structural challenges, he said: weak digital infrastructure, limited connectivity in rural areas, and insufficient investment in agritech, adding that the lack of strong governmental support and clear policies to drive agricultural digital transformation has slowed the adoption of modern technologies on a wide scale. “Convincing farmers to use a robot is a significant hurdle – it’s something completely new to them,” Ghanam explained. Caused by a variety of fungal species, powdery mildew affects hundreds of crop and fruit species worldwide.Source: Wikimedia Commons Early on, AgriCan offered free trial services to demonstrate the technology’s benefits. Over time, farmers began to notice improvements in crop quality, and word of mouth spread among agricultural communities. Today, AgriCan is working with research centres in Egypt to develop training programs for farmers to familiarise them with agricultural technologies. Faheem noted the “critical role” of smart agricultural tools, such as robots and sensor-based greenhouse monitoring systems, in enhancing sustainable development. “These technologies improve agricultural yields without depleting natural resources, reduce crop diseases and waste through AI and sensor-based systems, and limit environmental pollution through targeted spraying, ultimately reducing health risks,” he explained. These solutions, he argues, could also promote regional cooperation in agricultural research and development between Arab and African countries. Such technologies tackle key challenges by offering efficient alternatives as rural labor continues to migrate to urban areas. They also reduce operational costs compared to traditional methods, improving farm profitability. In addition, sensor systems and robotics enable farmers to better adapt to changing climate conditions. According to Faheem, however, concerns persist about the cost and risks of robotic technology, especially for smallholder farmers. “The high price of these robots could be prohibitive for small farmers,” he told TechCabal. “Any malfunction in the devices or errors in AI systems could lead to significant crop losses if there are no fallback options and repairs or replacements could add further financial strain on farmers already operating on tight margins.” For Ghanam, while Faheem’s concerns are valid, he sees climate variability as the biggest hurdle to scaling the technology. “One of the key obstacles is adapting robotic solutions to sudden climate shifts within the same growing season,” he said. “We need to design systems that can respond effectively to unpredictable weather patterns, and that’s no easy task.” Despite these hurdles, Ghanam is confident in the efficacy of his technology. He points to a field study his team conducted where a farm was split into two sections, one operated by a human workforce, the other by a robot. Both areas grew the same crops under identical conditions. The results were telling: the robot-assisted section produced 15% higher yields, used 31% less pesticide, and reduced labor needs by 12%. Abdel Karim also saw similar results. “The quality of the harvest improved by 15 to 20 percent compared to previous seasons, and we managed to export a large share of our crop,” he said. However, he pointed out that robotic solutions cost more upfront, compared to hiring human labor. So far, AgriCan has deployed its technology across 5,230 acres on more than 15 farms and expanded to markets in the UAE and Jordan. The next major milestone will come in 2025, with the
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