Nigerian digital lender Lidya shuts down operations
Nigerian digital lender Lidya shuts down operations despite raising $16.45 million and nearly a decade after launching, Techpoint Africa has learnt. “Despite best efforts to restructure and sustain operations, the Company has encountered severe financial distress and is no longer able to continue in business. As a result, the Company has ceased
Kenya-based mobility startup Spiro raises $100m funding round
Kenya-based mobility startup Spiro raises $100m in funding to boost its mission of providing affordable and accessible mobility to the masses while transforming Africa’s clean energy and urban transport sectors. Spiro is Africa’s largest electric mobility company, operating the continent’s most extensive and fastest growing network of battery-swapping for electric two-wheel
Global Shop Group acquires Ivory Coast’s ANKA
New York-based company, Global Shop Group, acquires Ivory Coast’s ANKA, an Ivorian e-commerce startup that raised over $13 million from investors like the International Finance Corporation. “I recently acquired ANKA… because I deeply believe in what this platform represents: a powerful movement that has connected African and diaspora creators to customers
Kenyans ask court to declare Mogo’s lending practices illegal
Mogo Auto Ltd, a Kenyan buy-now-pay-later (BNPL) firm popular among gig workers, has been hit with a class action lawsuit over alleged predatory and unfair lending practices, a case that could have far-reaching implications for the country’s fast-growing asset financing market. Three borrowers, Caroline Nderitu, Wilson Mbogo Gikonyo, and Joseph
Moniepoint raises $90 million to close Series C
Moniepoint raises $90 million to close Series C as Visa and Google deepen Africa bets, bringing the total to $200 million after its initial $110 million raise in 2024. The fresh investment was led by Development Partners International (DPI), with participation from the International Finance Corporation (IFC), Leapfrog Investments, Google’s Africa
How the Amazon Web Services outage hit South Africa
On Monday, Amazon Web Services (AWS), the world’s largest cloud provider suffered a widespread outage that disrupted several platforms across the globe, from AI tools and government systems to fintech apps. Around 09:00 am South African time, user complaints were already flooding in, according to data from Downdetector. In local WhatsApp
Kenyan court orders Twiga Foods to pay ex-employee $7,800 for unfair dismissal
Twiga Foods, a Kenyan B2B startup, has been ordered to pay a former sales representative over KES 1 million ($7,800) after the Employment and Labour Relations Court found that his dismissal was unfair. In a judgment delivered virtually on October 9, Justice Linnet Ndolo ruled that Twiga wrongfully fired Maxton Duke
Today Africa Weekly | October 13 – 19, 2025
Last week (October 13 – 19, 2025) was one of those weeks that remind you just how fast things shift in the African tech ecosystem. Startups are raising again, slowly, but with intent. Morocco and East Africa saw the biggest movement, while smaller rounds in Egypt and Central Africa quietly
How Entrepreneurs can Leverage Open Banking APIs in Africa
In 2018, when Nigeria’s fintech ecosystem was still finding its rhythm, few could have predicted how quickly Africa would embrace digital finance. Mobile money had already taken root in East Africa, but something deeper was brewing, a quiet shift toward openness. Today, Open Banking has become one of the most
Rising costs leave 38% of Nigeria’s SMEs earning under ₦10k profit daily
38% of Nigeria’s SMEs make less than ₦10,000 ($6.78) in daily profit, according to Moniepoint’s 2025 Informal Economy Report, suggesting that small businesses, critical engine of the country’s economy, remain stuck in survival mode rather than scaling toward growth. The study, which leveraged Moniepoint’s data of 5 million businesses and physically
