Kenya’s digital lenders disbursed $594 million since 2022
Kenya’s disbursed 5.5 million loans worth KES 76.8 billion ($594 million) in the past three years, underscoring the scale of an industry that only came under formal regulation in 2022. The Central Bank of Kenya (CBK) on Thursday cleared 27 additional providers, raising the number of licenced firms to 153. The first
7 Things Silicon Valley Gets Wrong About African Entrepreneurs
For years, Africa has stood at the intersection of fascination and oversimplification in the global tech conversation. Silicon Valley, the world’s tech capital, has turned its gaze toward the continent with increasing intensity: venture capital trickles and surges, hackathons branded as “bridges,” evangelism around blockchain and Web3, and celebratory headlines
NALA expands into Kenya with Equity Bank, Pesalink partnership
Tanzanian fintech, NALA, expands into Kenya through a partnership with Equity Bank and payment utility Pesalink, targeting the country’s fast-growing remittance inflows while sidestepping the lengthy licensing process required of foreign entrants. The deal allows NALA, which provides cross-border payment services for consumers and businesses, to route diaspora transfers through
Kenya’s High Court exempts fintechs from VAT in landmark ruling
Kenya’s High Court exempts fintechs from VAT in a landmark ruling, overturning an earlier tribunal decision in a case pitting payments startup Pesapal against the Kenya Revenue Authority (KRA). Justice Rhoda Rutto found digital payment providers are “functionally equivalent” to banks, a blow to the tax authority. The court overturned
20 entrepreneurs advance to Africa’s Business Heroes 2025 Semi-Finals
20 entrepreneurs advance to Africa’s Business Heroes 2025 Semi-Finals of its annual prize competition, an initiative of Alibaba Philanthropy. The event will take place in Dakar, Senegal, on September 10–11, 2025, marking the first time the program is hosted in a Francophone country. Now in its seventh edition, ABH supports
Central Bank of Kenya scraps preferential borrowing terms for bank staff
The Central Bank of Kenya (CBK) scraps preferential borrowing terms for bank staff, rejecting a push to exempt staff loans from its new risk-based pricing model. The move will drive up borrowing costs for thousands of insiders who, for years, enjoyed cheaper credit than ordinary customers. The regulator stated that only
Why Many African Startups Fail Before Their Third Year
Startups across Africa launch every week with big dreams: to modernize payments, solve logistics headaches, transform agriculture, or unlock digital services for millions. Yet for many founders, the dream ends painfully fast. If you’ve ever wondered why many African startups fail before their third year, this post pulls back the
Today Africa Weekly: Tech News Recap | August 25–31, 2025
Last week (August 25–31, 2025) was quieter on the funding front, but still marked by important shifts across the African startup ecosystem. The spotlight fell on ecosystem-building efforts, new initiatives aimed at closing the gender funding gap, and continued momentum in digital health and infrastructure. Even without major capital raises,
GTCO injects ₦365.9 billion into GTBank to meet new capital rules
One of Nigeria’s largest financial services groups, Guaranty Trust Holding Company Plc (GTCO), injects ₦365.85 billion ($236 million) into its flagship subsidiary, Guaranty Trust Bank Limited (GTBank), to meet Nigeria’s new capital requirements for lenders with international authorisation. The move, announced in a regulatory filing on Friday, comes through the issuance of
Roqqu lists the cNGN stablecoin on its platform
Four months after talks began, Nigerian crypto company Roqque lists the cNGN stablecoin, a stablecoin pegged 1:1 to the local currency. It joins Busha, Quidax, Xend Finance, Blockradar, and Boundlesspay, among startups that now support the token. Launched in February and distributed by the WrappedCBDC team, the cNGN stablecoin now has ₦604 million
