Quick Fire 
with 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. I also like 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 someone starting out in communications who wants to follow a similar career path? Find what you’re truly good at and build on it. Communications is vast, and there are many paths to take. Start by focusing on what sets you apart, then think globally while staying locally relevant. Don’t be afraid to try new things, and remember that there are no bad ideas- only bad execution. Make sure you’re always learning, and don’t limit yourself to the boundaries of your current environment. The world is wide open. What excites you the most about the future of communications, especially in the African
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TechCabal Daily – AI for hands and brains
In partnership with Lire en Français اقرأ هذا باللغة العربية Eid Mubarak. Welcome to Q2 2025, where the moon’s fresh and the vibes are high. But for folks in Nigeria, it’s a bittersweet moment—plenty to celebrate, yet much to mourn. Adetunji “TeeJay” Opayele, CTO of Bumpa, a Base10-backed e-commerce startup, was killed by a reckless driver who walked away with little more than a slap on the wrist. Over 70,000 people have signed a petition demanding real justice. Here’s TechCabal’s profile of Teejay—read it to see why his life, and now his death, matter so much in this world. AI agents are getting better at doing our jobs MTN launches uncapped internet for $0.27 per day The path to exits, the support VCs provide, and Africa’s hottest sectors World Wide Web 3 Opportunities AI AI agents are getting better at doing our jobs Image Source: Botscrew How long should it take to go from idea to product? Before you answer that, artificial intelligence wants to make sure the answer is simply “minutes.” Cue in AI agents. AI agents are changing how software is built. Instead of developers spending days or weeks writing code, debugging, and setting up infrastructure, AI tools can now generate entire applications, deploy them, and manage backend operations in real-time. Need an MVP? An AI agent can spin one up in hours. Deploying updates? AI can automate that too. Even DevOps—once a highly specialised role—is now seeing AI-driven automation handle cloud configurations, monitoring, and scaling. This rise of “vibe coding,” where developers rely on AI to generate, refine, and deploy software, is shaking up the industry. For founders, this means lower development costs, faster time-to-market, and fewer technical bottlenecks. For engineers, the skills in demand are shifting—less manual coding, more strategic thinking, and a deeper understanding of how to work with AI systems effectively. It’s not a question of if AI will change software development as we know it, but how fast it will happen. And if AI gets its way, the answer to that opening question could go from “minutes” to “faster than you think.” Read our feature on Stakpak, a0dev, and Vzy—startups helping early-stage teams become multi-efficient. 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! Telecoms MTN launches uncapped internet for $0.27 per day Image source: MTN On March 18, Telkom, the South African-owned telecom operator, announced that it will raise its telecom tariffs by April 1, 2025. But guess who seized the opportunity to launch an uncapped internet service for just $0.27 per day? Its competitor, MTN South Africa. While competitors were expected to react to Telkom’s tariff hike, no one expected MTN to move this quickly. Its new product, GigZone, offers 5Mbps (megabytes per second) internet for just R5 ($0.27) a day. The speed isn’t exactly fast—streaming high-definition videos or downloading large files may be a challenge—but at that price, it’s hard to complain. For many people in township communities, this could be the most affordable way to stay connected. Other telecom players are also looking at the low-cost internet market, but most of the competition so far has come from fibre-based providers like Riot Network, Vumatel, and Wire-Wire Networks. These companies have been working to bring affordable fibre to South African townships, but they face a major hurdle: rolling out last-mile infrastructure is expensive and takes time. MTN, on the other hand, already has mobile towers in these areas, allowing it to launch GigZone without building new infrastructure first. This means it can expand much faster than traditional fibre operators. Right now, GigZone is only available in parts of Gauteng and the Western Cape, but if the pilot is successful, MTN could quickly scale it across the country. South Africans are facing price hikes for different services that improve their livelihoods: electricity (Eskom), internet (Telkom), and streaming service providers (like MultiChoice) have increased prices—almost at the same time—making downsizing a likely option for many of them, especially those in lower-income areas. A $0.27 uncapped internet per day looks like a good deal, and only Wire-Wire Networks previously offered internet service at this amount. Yet, with more people joining its network, it became slow. From the pilot test, MTN’s GigZone doesn’t appear to have that problem. Commercially, it remains to be seen. Paystack introduces its first consumer app, Zap! Zap by Paystack is an app for secure and fast payments via bank transfers in Nigeria. Download Zap on iOS and Android → Venture Capital The path to exits, the support VCs provide, and Africa’s hottest sectors Image source: Wunmi Eunice for TechCabal In an ideal world, venture capitalists cash out via initial public outings (IPOs) or blockbuster acquisitions. But in the past five editions of TechCabal’s Ask an Investor, where fund managers from Oui Capital to Launch Africa were grilled, we see that in Africa, securing funding is only half the battle—investors must also creatively extract returns for their LPs. With IPOs and acquisitions scarce, secondary sales have become the go-to exit. Take Oui Capital: In 2021, they bet $150,000 on a 1.2% stake in Nigerian fintech Moniepoint. Three years later, with Moniepoint a unicorn, they sold part of that stake for $8 million—enough to return their first fund twice. HoaQ, meanwhile, scored a 6x return flipping a Raenest stake at Series A. Olu Oyinsan of Oui Capital admits secondaries aren’t the gold standard, but “any liquidity is better than no liquidity.” Nonetheless, while secondaries are a practical workaround, favourable terms do not come easy either. So whether it is secondaries, IPOs or acquisitions, squeezing returns in Africa requires patience, discipline, and sometimes building the exit yourself. Read TechCabal’s recap to see how these five VCs pull it off, the hands-on support they give founders, and which sectors are the hottest on the continent right now. Get notified when the Moonshot
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The Life and Times of Teejay, according to people whose lives his code touched
On March 4, 2025, Adetunji ‘Teejay’ Opaleye, Bumpa’s chief technical officer, was returning from a gym in Victoria Island, Lagos, when a careless driver hit him. He died in the early hours of the following day from a lack of timely medical intervention, a cruel end for the 32-year-old engineer, whose startup worked to digitise e-commerce for thousands of informal traders across the country. The general public learned of Teejay’s death after the “Get Teejay Justice” petition went viral online. It detailed the negligence of the perpetrator, Biola Adams-Odutayo, the hospitals that denied him treatment, and the levity of the ensuing punishment for the driver. It also lists several demands, including that Adams-Odutayo, who was previously arraigned on March 12 and released on bail, be charged with manslaughter, rather than the lesser offense of reckless driving. Over 68,000 people have signed the petition and are closely following the case, furious that systemic failures within the country’s healthcare and justice systems directly contributed to the death of a promising innovator. Opaleye’s legacy extends beyond the algorithms he engineered. He had a voracious appetite for life and a generosity that those closest to him described as bordering on selflessness. “Teejay was the sort of person who would give you his last ₦200,000 ($130) if you told him you needed it for a flight,” an extended family member who asked not to be named due to privacy concerns, told TechCabal. Teejay’s early years Opaleye’s life unfolded in Lagos, with a childhood marked by a quiet curiosity and a proclivity for solving problems, foreshadowing his later life as a software engineer. A relative, who asked to remain unnamed to protect their privacy, recalls him retrofitting cardboard boxes with rotors and tyres from toy cars, and making his skateboard with wheels from worn luggage. “People with mobile phone issues would queue at the gates of their house; he would fix their problem and they’d be on their way,” recalled the extended family member, who lived with Opaleye’s family for some years. Despite his tinkering, Opaleye opted to study law at Obafemi Awolowo University, and on the side, began learning programming languages like PHP and Linux. A little over a year into his degree, he landed a job as a website developer at the school’s radio station, Great FM. A relative recalls him putting up flyers advertising his web development services. “He was super intelligent, even among his law peers,” says Femi Fadahunsi, a faculty mate who first met Opaleye in 2011. Towards the end of that year, he was only sporadically attending classes, Uyoyo Ogedegbe, another coursemate, recalled in an interview with TechCabal. Fadahunsi suggested this stemmed from disillusionment with university education. “I guess he saw the light earlier than I did; that studying law was eventually a dead end,” says Fadahunsi, who now works as a marketing specialist. Ogedegbe, studying law to follow in his father’s footsteps, attributed it to Opaleye’s personality as an independent thinker who “wanted more.” Opaleye eventually dropped out but remained on campus. “He was always going somewhere with his HP backpack, containing a large laptop, as he often carried then, and his glasses, just heading to the computer lab to program all night, and you’d mostly only see him in those places,” Fadahunsi recalled. By his third year, when peers like Ogedegbe also started dabbling into tech, learning to build e-commerce platforms, Opaleye was already far ahead, securing paid gigs and supporting himself financially. During this time, in 2013, Opaleye met Kelvin Umechukwu, who’d become his co-founder eight years later. Umechukwu recalls how quickly they bonded during their first meeting somewhere close to the Student Union Building (SUB). “I decided that we should not eat anything, and we just sat talking about our work and exchanging ideas,” Umechuwku told TechCabal in an interview. Both were similar: optimistic about technology, building their ideas, and popular for supporting others in their tech journeys. They had gained campus-wide fame as innovators: Umechukwu’s most popular platform at the time was Voice of Informed Student Social (VOISS), a Facebook-like social app that allowed students to connect and access lecture notes in PDF, audio, or video formats. Opaleye had also built several things, including a platform known at the time as “I Rep OAU”, Umechukwu recalled. Adetunji ‘Teejay Opaleye, wearing a blue shirt and glasses, and his PayPanda team members in 2015. Image Source: Techpoint “He always had ideas, and one was for a reverse marketplace where the buyer, having the demand and money, could post a description of the item they wanted, and sellers could bid for their purchase,” Umechukwu said. Beyond ideas, Opaleye also possessed staggering gumption. Umechukwu recalls a back-and-forth Opaleye had with the university administration about the official student platform. Opaleye believed he could build something better and told the university they would have to overhaul the entire legacy system, as it was obsolete, Umechukwu said with a hint of amusement in his voice as he recalled the incident from over a decade ago. They didn’t budge, but it was one of many instances that demonstrated Opaleye’s desire to improve things. Opaleye’s bravado wasn’t all talk. In 2015, Paypanda, an eight-person team he was part of, won first place and ₦1 million ($5,000*) in a competition co-organised by Oracle. Their technology was an online escrow service that held funds paid for merchandise until the buyer was satisfied, based on the seller’s terms of agreement. After the competition, Opaleye secured another job as a software engineer at E-Settlement Limited, where he helped build fintech and mobile money solutions. Building Bumpa By the time Umechukwu finished university, Opaleye had taken another leap forward and founded a hosting service, HostCabal. Umechukwu says Opaleye started the business due to dissatisfaction with local cloud providers at the time. He hired Umechukwu, who had built a community of developers (HostCabal’s target customers) at Consonance, to attract users, while he managed the backend. Adetunji ‘Teejay’ Opaleye with Kelvin Umechkwu and some friends in a promotional video for
Read MoreAsk an Investor: The path to exits, the support VCs provide, and Africa’s hottest sectors
Five weeks ago, we rebooted our Ask an Investor column, and in that time, we spoke to the heads of investment at Oui Capital, Antler Nigeria, Capria Africa, HoaQ, and Launch Africa. Scattered from Nairobi to Lagos, these fund managers told TechCabal how they find startups, guide founders, and, more importantly, how they land or think about exits in Africa. This week, we are publishing a recap that highlights the three biggest questions that have come up in our conversations so far: How do you deliver successful exits in Africa? What kind of support can startups expect? Which sectors are most likely to produce big wins? Exits and how to deliver them Secondaries are the practical path to liquidity In our first episode back, Oui Capital’s Olu Oyinsan told TechCabal that secondaries—where an investor or founder sells some or all of their stake in a company to other investors—are not the gold standard for investors, but “liquidity is better than no liquidity.” In 2021, Oui Capital invested $150,000 for a 1.2% stake in Nigerian fintech Moniepoint, and three years later, when it became a unicorn, Oui Capital partially exited its $150,000 investment to other investors and returned $8 million—enough to return its first fund twice to investors. All five investors we spoke to echoed Oyinsan’s thoughts: Africa’s exit landscape is still evolving as full acquisitions and IPOs remain relatively rare. Consequently, secondary sales have emerged as the “path of least resistance for liquidity,” according to Launch Africa’s Uwemakpan. His firm has observed significant demand from later-stage VCs or strategic investors who want to buy out early investors in successful startups. Given the relative scarcity of large-scale M&A or IPOs, secondaries are a practical exit lever for seed-stage funds like theirs. HoaQ experienced this firsthand when it used the secondary strategy to secure a 6x return on Raenest at the Series A stage. Despite being a small cheque, the partial exit was enough to deliver substantial gains to their angel syndicate members. How Oui Capital made a 53x return on an early $150,000 investment in Moniepoint Patience and discipline bring exits Across the board, the VCs caution that the best exits in Africa require patience. They also emphasised that the best way to achieve a good exit—whether via acquisition, secondaries, or even an IPO—begins with strong governance and rigorous reporting from day one. At Capria, startup founders are told that the importance is on staying focused on good governance, strong financial controls, and local resilience from the earliest stages. Good fundamentals, Mobola da Silva argued, will always be an exit magnet. However, the discipline cuts both ways. Oyinsan told TechCabal that investors also need to understand the importance of “portfolio construction discipline” and “thinking about the exit math” as early as the seed round. In their Moniepoint deal, they deliberately sized their cheque so that if (and when) the startup reached a lofty valuation, their stake would be large enough to return the fund. Antler’s Anil Atmaramani, who invests extremely early in Nigerian startups, explained that “inception-stage” bets take time to mature. His approach is to help founders pivot fast if needed, build disciplined habits early, and keep them on a pathway towards eventual acquisition or robust follow-on rounds. “Most African companies don’t need VC” – Launch Africa’s Uwem Uwemakpan Sometimes, investors have to create their exits Exits are hard, and investors often have to be proactive in securing exits in Africa. Oui Capital helped Moniepoint set up “a data room and the entire due diligence process,” specifically to make the company more legible to future growth-stage VCs. They also facilitated partial buyouts of an early stakeholder who opposed the startups’ pivot to retail customers. All of these steps smoothed the road for bigger rounds—and, in turn, a lucrative partial exit. Launch Africa designs their follow-on strategy and constantly coaches founders to meet the diligence expectations of Series A and B investors. They have also repeatedly teed up secondaries that bring in new investors and grant Launch Africa partial liquidity. With $100,000 per startup, Antler VC enters Nigeria to back startup ideas The type of support startups get from VCs Deep operational support and networks While money is crucial, all five investors stressed that African founders need robust operational support. Launch Africa, a VC firm with over 140 startups in its portfolio, identified two main support areas for founders: strategic support and operational support. The firm uses what it calls a “coverage model,” where each partner oversees a handful of startups deeply. They also run weekly office hours and “actively coach founders on pitch preparation, deck refinement, cap-table management, and investor targeting” while also leveraging their network of corporate partners. The ultimate goal is to make each startup “Series A–ready” as soon as the metrics allow. HoaQ stressed giving founders “hands-on, founder-first” guidance on everything from recruiting to forging corporate partnerships. Because it operates both a syndicate and a fund, it has built a large community of angels, founders, and micro-VCs. Startups that take their cheques get introduced to this crowd for co-investments, pilot customers, or future hires. It’s a distinctly community-driven form of support, with a big emphasis on curated introductions. Antler provides a structured “day zero” approach and provides “pre-company” support. They recruit aspiring founders—often with domain expertise—and match them with co-founders, provide a monthly stipend so they can focus on building, and host them in a structured residency program. They continue with board-level guidance through future rounds, basically “staying in the trenches” until Series C. Capria maintains an in-house AI team that can partner with portfolio companies on product development. This offering is optional yet highly valued by founders looking to implement advanced technologies without hiring entire engineering teams. They also employ a local partner model, investing in local VCs with on-the-ground insights. This dual model ensures that startups receive not just a global vantage point but also hyper-local, daily operational guidance. After securing exits for its angel network, HoaQ is expanding with a dedicated VC fund
Read MoreAI agents make early-stage startups more efficient but developer jobs could be at risk
Opinions about AI rightly remain divided. Builders and innovators in the sector who have championed the technology’s growth, see it as the future—the future of work, and the future of saying no to the mundane, repetitive tasks. Users, on the other hand, are split into pro-AI adopters, and those who fear how deeply the bleeding-edge technology will impact jobs. Yet, this hasn’t stopped AI’s rapid advancement—which has been anything but accidental futurism. In Africa, this innovation wave is quickly gaining ground, thanks to ChatGPT and open-source large language models (LLMs), which have sparked startup ideas that sit on the borderline of displacing jobs while also removing mundane tasks for businesses. The rise of AI-powered “Swiss Army” tools In Nigeria, a few of these startups have popped up recently: Vzy, a Nigerian AI-powered website builder, launched in 2023, allows anybody to prompt their way to building a new website; a0dev, another Nigerian startup which joined Y Combinator in 2025, allows you to create a React mobile app from scratch using prompts; and now, Egypt’s Stakpak, through the use of AI agents, helps software and DevOps engineers set up production-ready infrastructure much faster. “At least 45% of developers use six core tools to ship their products, but configuring them is complex,” George Fahmy, Stakpak CEO told TechCabal. “Each tool speaks its own language, requiring teams to stitch them together by going through hundreds of documentation pages just to ship a product to customers. Only about 3% of developers have the skills to manage this full-time.” Globally, there is a shortage of DevOps engineers, making the few existing professionals high-maintenance. According to salary aggregator, Payscale, the average Nigerian engineer earns ₦250,000 ($163) monthly. This overhead cost is in addition to the software engineering teams that companies have to hire. In an infrastructure-heavy payments company like eTranzact, entry-level DevOps engineers earn between ₦250,000–₦400,000 ($163–$260) monthly, while mid-level professionals earn over ₦600,000 ($390), depending on performance and negotiation. Some companies opt to hire the services of cloud engineering consulting firms to offset the expenses of paying full-time salaries. Yet, according to Clutch, these firms charge between $10,000–$50,000 on a project basis. With the fast-rise of platforms like Stakpak, a0dev, and Vzy, founders could become the startup equivalent of a Swiss Army knife, shipping products faster, hiring fewer talents and saving money on staff overhead costs, thus extending runway. AI development tools are making it easier to turn startup ideas into real products, but the trade-off is that talents may struggle to keep up—forcing them to evolve or pivot. Building upside, scaling downside Due to the high cost of retaining DevOps talent, some startups train their software engineers to take on a hybrid role. In the short term, this can work, especially as startups ship fewer features and often use serverless technology, reducing the need for hands-on infrastructure management. Yet, as workloads increase, engineers will need more control over infrastructure. For example, transitioning from serverless to managed Kubernetes or other scalable architectures requires strong DevOps skills. If they make it past that hurdle, growing infrastructure demand can disrupt the workflow of engineers who are splitting time between development and DevOps, slowing down product iteration and increasing time-to-market. To ease this burden, some startups are turning to AI-powered DevOps tools. These tools help automate infrastructure setup and management, reducing the need for dedicated DevOps engineers in the early stages. For example, Stakpak has gotten early traction from early-stage startups in Egypt, such as Credify, Paymob, and Zammit. Its AI agentic development tool costs only $50 monthly. Stakpak’s clear benefit is being a sidekick to early-stage engineering teams, however, its use case for large enterprises is still in doubt. Stakpak’s AI is used for critical DevOps work, thus ensuring reliability is crucial—mistakes in infrastructure setup could lead to security risks, downtime, or high cloud costs. “It might take a longer time for bigger companies to adopt agents in deployment,” said Aaron Adetunmbi, a Nigerian software developer. “They often have complicated processes for this, and as the technology is new, there is nowhere for them to learn. LLMs can ‘hallucinate’ and this can lead to costly mistakes.” Fahmy claims that Stakpak was built using a mix of closed-source and open-source LLMs, but the startup sets its own evaluation benchmarks for its data sets, making sure its AI agents are reliable. Running manual evaluation checks cost about $400 per experiment, according to Fahmy, making AI-powered platforms expensive to build. But he admits that it has been difficult selling to large enterprises, so the startup is focused on early-stage startups, with a potential to onboard bigger clients in the future. Launched in 2024, Stakpak has already started generating revenue, said Fahmy. “Our tool is niched, so we’re still validating who our best clients are,” said Fahmy. “We’ve not hit product-market fit, but we’re iterating our product and generating revenue from customers who have been paying us for over a year and a half since we released our earliest version. The next milestone for us is to hit $100,000 in annual recurring revenue with Stakpak.” Presently, Fahmy, who splits his time between Cairo and San Francisco, sees a market in the US due to its developed startup ecosystem. He says that adoption of agentic deployment tools like Stakpak may take a while in Africa. Are jobs heading down the drain? A 2024 Stack Overflow report, based on a survey of over 30,000 software developers, found that most of them expect AI tools to impact their workflows in 2025. About 79% believe AI will play a major role in how they document, write, test, and deploy code. Meanwhile, the term “vibe coding” has gained traction, referring to entrepreneurs rapidly building and deploying software-as-a-service (SaaS) apps using prompts. This trend is spreading beyond software development to areas like marketing, DevOps, design, and animation, showing AI’s growing versatility. Beyond their utility, there’s investor confidence around these startups. Stakpak raised $500,000 in pre-seed funding from P1 ventures, with participation from investors Digital Currency Group, 500
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TechCabal Daily – MultiChoice, mini dividends
In partnership with Lire en Français اقرأ هذا باللغة العربية Eid Mubarak. We have one question for you: How much power should one company have? MultiChoice is tightening its purse strings, and Phuthuma Nathi shareholders are bracing for a much smaller payday. Meanwhile, South Africa’s competition watchdog is not backing down on Vodacom’s big fibre play, and Cleva just unlocked a key licence to move your money faster. Let’s get into it. MultiChoice money woes hit Phuthuma Nathi shareholders South Africa’s Competition Commission says Vodacom-Maziv deal is anti-competitive Cleva secures IMTO licence World Wide Web 3 Job Openings Companies MultiChoice money woes hit Phuthuma Nathi shareholders Image Source: MultiChoice MultiChoice is warning investors to expect a much smaller dividend this year, and that’s bad news for shareholders in its Phuthuma Nathi scheme. Phuthuma Nathi is a black economic empowerment (BEE) investment fund that allows South Africans to own a stake in MultiChoice South Africa—a total of 25%. It has been a strong performer in the past, paying out good dividends to its investors. Phuthuma Nathi has paid R19.1 billion ($1 billion) in dividends from 2006 to 2023, with annual payouts reaching R1.5 billion ($81.4 million) in 2020. But now, MultiChoice says those payouts will drop sharply. The company is struggling. Fewer people are paying for DStv—which led the pay-TV to increase prices in its key market—and outside South Africa, the business is battling weak currencies and unreliable power in key African markets. MultiChoice hasn’t said exactly how much smaller the dividend will be, but it will finalise the decision in June. This comes as the company is in the middle of a takeover bid from Canal+, the French media giant. Canal+ is offering R125 ($6.78) per share, and its deal with MultiChoice has been extended to October while regulators review it. MultiChoice’s stock price dropped to R11,060 ($600) on Friday, declining by 0.81%. In the past month, it has held steady because of the Canal+ offer. But for Phuthuma Nathi shareholders, who rely on dividends rather than stock price movements, this year’s payout will be disappointing. It’s a tough time for South Africa’s biggest pay-TV company, and shareholders are feeling the pinch. 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! Telecoms South Africa’s Competition Commission says Vodacom-Maziv deal is anti-competitive Image Source: Vodacom How much power should one company have? The answer is simple: not too much—or at least enough to ensure it plays fair, allowing participation (and innovation as a by-product) in the industry. But when the power becomes unchecked, that company is said to display “anti-competitive” behaviour. Companies do this by showing monopolistic tendencies, cartel behaviour, or worse, undercutting competitors through unfair or predatory pricing strategies. Anti-competitive behaviour locks out smaller players, limits consumer choice, and slows industry growth—which is why competition watchdogs keep a keen eye for these trends across industries. Five months after blocking the Vodacom-Maziv merger deal, South Africa’s Competition Commission is standing firm on its decision to prevent the country’s second-largest telecom operator’s attempt to acquire a co-controlling stake in Maziv, the parent company of Vumatel and Dark Fibre Africa. In a 350-page document released on Friday, the anti-competition watchdog argued that allowing Vodacom to take control would cement its dominance in mobile and give it undue influence over the fibre market—an industry where it previously had limited control. Owning a co-controlling stake in Maziv would let it dictate business decisions affecting independent internet service providers (ISPs)—some of which rely on Vumatel and Dark Fibre Africa. Here’s what makes it worse: Vumatel partly owns Herotel, a South African ISP. Think of this Vodacom-Maziv deal as MTN acquiring ipNX—only Maziv is bigger, and there’s a whole web of ownership entanglements that benefits Vodacom. Another complication for the telecom operator is that it does not have any precedent to make an argument. Telecom operators with fibre businesses have created their vertical businesses from scratch. In 2015, Telkom spunned off Openserve as its subsidiary fibre provider, instead of buying an existing player. MTN also launched Supersonic, its fibre-to-the-home (FTTH) business in 2018. A potential compromise for Vodacom could be to consider building a fibre business from scratch or reduce its stake in Maziv to a non-controlling position. That way, it could invest in fibre without wielding unchecked power over the market. That said, a Vodacom-Maziv merger is expected to open doors to more deals in South Africa’s telecoms market. But for now, the Competition Commission is holding its ground. The case will go before the appeal court in July. Paystack introduces its first consumer app, Zap! Zap by Paystack is an app for secure and fast payments via bank transfers in Nigeria. Download Zap on iOS and Android → Fintech Cleva secures IMTO licence L-R: Cleva CEO Tolu Alabi and Philip Abel, CTO/Image source: Cleva Cleva, the Y Combinator-backed startup offering USD accounts to Nigerians, has secured an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria (CBN). The licence allows Cleva to facilitate inbound remittances—money sent from outside Nigeria into local accounts. Until now, Cleva focused on helping users—primarily freelancers and remote workers—receive USD payments and hold the funds in virtual accounts. With the IMTO licence, it can now process these international transfers directly rather than rely on third-party intermediaries. That move could lead to faster transfers, lower fees, and more control over the user experience. The IMTO licence is not easy to get. Companies must meet strict requirements, including a minimum share capital (₦1 billion for local firms or $1 million for foreign ones) and compliance with anti-money laundering standards. But it’s a crucial licence in Nigeria, which remains one of Africa’s top destinations for diaspora remittances. Cleva joins a short but growing list of startups with the IMTO licence. Flutterwave got its licence in 2022. Interswitch and Paga are
Read MoreSabi doubles down on TRACE for transparent mining of Africa’s mineral, agricultural wealth
Initially known for its multi-category approach, including a focus on fast-moving consumer goods (FMCG), Norskenn-22-backed startup, Sabi, has sharpened its focus on commodities, especially mineral and agricultural commodities. Launched in 2021 by Ademola Adesina and Anu Adedoyin Adasolum, Sabi has developed a robust digital infrastructure and market intelligence that improves global market access for Africa’s informal sector. Its digital infrastructure now consists of a product called Market through which it will continue to manage FMCG businesses, and Technology Rails for African Commodities Exchange (TRACE), through which it manages mineral and agricultural commodities businesses. The startup will no longer operate in sectors outside these three. Sabi began its market segmentation in November 2023 with emphasis on its TRACE product as demand grew. Adedoyin Adasolum, Sabi’s CEO, said on a call that this focus reflects TRACE’s potential to help the startup meet its long-term objectives. Sabi’s decision to double down on its TRACE platform underscores the growing global scrutiny of ethical sourcing, aiming to address the persistent issues of unreliable supply chain and limited visibility in Africa’s resource-rich regions. Sabi aims to standardise small- and medium-scale mining operations to ensure commodities meet international standards. Transparency is key Similar to challenges with market access for FMCGs, Sabi’s foray into commodities, particularly minerals, stems from supply chain unreliability, limited visibility, and access. “But the difference here is that we’re orienting this for export, and commodities do work very differently,” Adedoyin Adasolum said. The commodities and mining industry in Nigeria and many parts of Africa is populated by small and medium, often informal, mining operations which, to be matched with large, global supply chains, demand commodities be supplied in more industrial quantities, meet higher degrees of quality control as well as stricter policy requirements, among several others. Sabi’s TRACE aims to simplify this process—not only for mineral commodities but for agriculture as well. “So, suppliers can list their inventory,” Adedoyin Adasolum said. “They can list their quality tests; they can plug into more quality tests; they can ask for samplers to come to site; they can access finance, and then, extremely importantly, we can trace the source of the supply.” Mineral commodities so far processed via the TRACE platform include lithium, tin, copper, monazite, and beryllium sourced from several African countries including Nigeria, Zambia, Zimbabwe, and Tanzania. These minerals, and agricultural commodities, reach global off-takers who supply to variously sized companies in several countries from the US, UK, and Netherlands to Singapore and other parts of Asia. These range from battery manufacturers to chocolate-producing companies—Louis Adun, Business Manager, Africa at COAF, a big offtaker for American multinational, Cargill, is one of TRACE’s clients. Adedoyin Adasolum argues that outside of precious metals and gemstones–which Sabi doesn’t deal in—African mining has not featured significantly in the global supply chain despite holding 30% of the world’s minerals reserves. “Basically, what we’re doing is helping these mines professionalise, learn to meet standards and then plugging them into these off-take opportunities,” she said. For many of the global companies it serves, Sabi’s TRACE offers much needed transparency throughout the supply chain, a factor that has become even more critical as the methods and politics of Africa’s mineral extraction comes under scrutiny globally and companies are put to test about their sustainable sourcing philosophies. If you followed the news cycle in late 2024, for instance, you may have learned of a lawsuit filed by the Democratic Republic of Congo against Apple Inc.’s French and Belgian subsidiaries. The DRC government, through its lawyers, accused the tech giant of sourcing what they referred to as “blood minerals”, “pillaged from the DRC and laundered through international supply chains,” to manufacture their devices. In response, the tech giant rejected the allegations and later, suspended sourcing gold, tin, tantalum, and tungsten from the DRC, telling the BBC that the company was “concerned it was no longer possible for independent auditors or industry certification mechanisms to perform the due diligence required to meet our high standards.” With its ESG (Environmental, Social, and Governance) compliance mechanisms, TRACE helps local suppliers understand and meet global standards requirements as they apply to different countries and buyers. This involves two key aspects: tracing the commodity’s origin, ensuring it meets ethical standards, and verifying that the commodity adheres to the quality specifications of the buyer. To achieve this, TRACE incorporates a system called Flare, which acts like a “passport” for each commodity, both mineral and agricultural. Integrated with blockchain technology, Flare tracks ESG data for every commodity, ensuring compliance at every stage of the supply chain and providing a transparent, traceable, and auditable record from sourcing to off-take. Standards-wise, each commodity is optimised to meet product-specific requirements like suitable sizes, moisture content, or processing levels for agricultural commodities. The verification process is multi-layered and adapts to the specific mineral, location, and quantity. While the initial step involves suppliers listing their information and existing quality reports, physical verification is a crucial element. Adedoyin Adasolum says Sabi’s network of samplers, testing labs, verification agencies, and ESG/traceability consultants visit sites to verify data and sourcing practices. The verification levels within the system depend on several factors including the quantity of supply, as well as the familiarity of the source location. “For instance, if you are supplying from a particular location and it’s a location we’re familiar with and it’s already been verified, then we wouldn’t need to send someone else out to verify all those pieces,” she said. Beyond the technological infrastructure, Sabi’s internal ESG framework, built on principles of shared value and prosperity, social impact through market access, and corporate stewardship lends to its long-term objective of sustainable and responsible commodity sourcing from the African continent. Since its piloting, Sabi’s TRACE has facilitated approximately 50,000 tons of mineral exports. A more sustainable way According to Adedoyin Adasolum, the company is focused on creating standard and sustainable supply chains in a world increasingly powered by technology. By working with its network of small and medium-sized operations and providing them with the necessary technology tools
Read MoreDigital Nomads: How David Ukauwa built a six-figure remote career in Design
David Ukauwa, a UK-based senior product designer at event hosting company Grip Events, likes to try his hand at different things: experimenting with design styles, illustration, photography, videography, and high-speed cars. Back in Nigeria, he was part of an exclusive car club in Lagos that lived for the thrill of the road. They hosted a fashion rave called Revs and Runway, which combined the grandeur of fashion exhibitions with the edgy, rebellious display of stunt drivers who loved to impress a crowd with their showmanship. “I could have a problem with my car, and I’m stuck on the Third Mainland bridge,” said Ukauwa, “And I’ll make a phone call. Before you know it, three bikers are driving toward me, and asking, ‘What do you need?’ Almost everybody is a mechanic, and they’re bringing parts for me to fix my car.” But in London, where he now lives, he has never found that same drive to take on the steering wheel. “Taxing in the UK is really weird,” he said. “I live in the central part of London. If you’re driving in a petrol or diesel car, you pay taxes for emissions. These are part of the zonal taxes you pay in central London and other zones 2 and 3 because the city officials want to keep these places uncongested.” Between congestion charges and emissions fees that stack up to £27.5 ($36) a day, driving in London feels less like a convenience and more like an expensive habit. That might explain why electric vehicles (EVs) have been flying off dealership lots—381,970 units sold in 2024 alone—shrinking the market for petrol and diesel cars. But that EV boom could hit the brakes on April 1, when the UK will start taxing electric and zero-emission vehicles, too. Not that it bothers Ukauwa much. He’s not a fan of EVs and works from home, even though his company’s office is just a few town-skips away. His odds of survival are pretty high. Throw in another revelation that he’ll be leaving London for Manchester soon, I thought the city had already done a fine job of pushing him out. From Lagos to London In 2022, Ukauwa left Nigeria for the UK through the Global Talent Visa opportunity offered by Tech Nation. London wasn’t his first choice when he wittingly chose a life outside Nigeria, but for now, that’s where he’s nested. “A part of me wished I didn’t get the visa,” said Ukauwa. “I gave in to peer pressure because all my friends were leaving Nigeria on the Global Talent Visa, and I didn’t want to be left out.” Ukauwa’s journey goes back to his campus days at the University of Lagos, Nigeria, where he studied Computer Science, though he’d always wanted to be an artist. His choice of study was a rebellious move against his father, who wanted him to become a petroleum engineer. Now, he keeps his artist dreams alive by making slapdash illustration pieces every four months. Shortly after getting into college in 2015, Ukauwa got his first design job at Hotels.ng. He describes this role as a springboard that took him where he truly wanted to go. “Hotels.ng was like an incubator experience for me,” said Ukauwa. “It didn’t feel like work. I shared a fence with the office, but I was often late. All my boss wanted was to get the work done, and I could do whatever I wanted.” After leaving the company in 2019, Ukauwa says he worked remotely with US companies from his Lagos bedroom apartment until the Global Talent Visa breakthrough came. Nomad life, nomad struggles The nomad life is the high-flyer life, Ukauwa told me. He’d just returned from his last trip to Malaysia in February, which he said changed him; it made him more courteous, and he started introducing ‘please’ and ‘thank you’ into his mannerisms. Yet, there’s a gnawing homesickness to living alone abroad. It’s similar to the classic analogy of the sun and its shadow—you cannot have one without the other. When Ukauwa came to London, he struggled to fit in because it was harder to self-identify with anything. “You feel at ease when you’re home,” he says. However, he has found a community of 20 friends—most of whom he met for the first time in the UK—and now splits his time between London and Manchester, where he visits them. As a small band of friends, they do everything together, from travel, hangouts, and experimenting with work trends to sharing craft tricks in photography, as well as other interests. A past trip to and from Morocco cost £50 ($65) which is around ₦100,000—cheaper than a flight from Lagos to Abuja. However, expenses rise with accommodation and food, he explains. On average, Ukauwa says he spends £1,000 ($1,300) traveling within Europe or to Africa. “It’s not as expensive as people think once you’re out of Nigeria,” he said. “My biggest blocker to get access to this travel life was living in Nigeria,” he added. “It was hard to get visas and cheap flights. But that isn’t the case anymore. It’s a lot easier now.” Although Ukauwa travels five times a year, his trips are mostly spontaneous, with a little planning in between when he travels with friends. The most difficult thing about travelling while working, according to him—and frankly an honest submission—is finding the zeal to work while away “chilling.” “I could be at a beach in Barcelona, and I still have to work. That’s the real struggle. Timezones are never a problem for me because, thankfully, I work asynchronously and I’m flexible in the way I work,” he said. To cope with his struggle, he now travels light. When selecting an Airbnb in a new city, he ensures it has a dedicated workspace with a desk and chair that allows him to comfortably sit at his computer. Planning also helps. He sets aside dedicated time for both work and play, making sure not to mix the two. There are jobs in
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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
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