Ethiopian birr hits record low against the dollar
The Ethiopian birr hits record low of 174 to the dollar on the parallel market, widening the gap with the official exchange rate to nearly 40% and raising questions about the country’s attempts to liberalise its economy. The widening spread could further pressure financial institutions and import-reliant businesses struggling to
Fintech in Africa: Trends to Watch in 2025
In 2025, fintech in Africa is no longer an emerging story; it’s a continental force. In the first half of the year alone, startups raised $1.42 billion, nearly half of all African tech funding, as investors bet big on the sector’s ability to bank the unbanked and fuel economic growth. Mobile‑money
Tanzania’s digital payments hit $11.6 billion as real-time system adoption rises
Tanzania’s digital payments more than doubled in value in 2024, with the country’s national switch processing TSh29.9 trillion ($11.6 billion) in transactions by December, up from TSh12.5 trillion ($4.9 billion) in the previous year, according to the Bank of Tanzania’s (BoT) latest financial stability report. The Tanzania Instant Payment System (TIPS),
Kenya’s DigiTax gets approved to offer e-invoicing in Nigeria
Kenyan e-invoicing startup, DigiTax gets approved by Nigeria’s Federal Inland Revenue Service (FIRS) as an Access Point Provider and System Integrator, allowing it to connect businesses to the government’s e-invoicing platform as Nigeria ramps up digital tax enforcement for large companies. “This milestone solidifies DigiTax’s position as a trusted partner
5 African Countries Leading the Tech Boom in 2025
Africa’s tech industry is booming in 2025, with five countries standing out for their rapid growth, investment, and innovation: Kenya, Nigeria, South Africa, Egypt, and Rwanda. These nations are driving advancements in fintech, AI, agritech, and more, while attracting billions in funding. Here’s a quick breakdown: Country H1 2025 Funding
Today Africa Weekly: Tech news recap | July 28 – August 3, 2025
July 28 – August 3, 2025, Africa’s startup ecosystem kept up its fast‑paced momentum, powered by fresh ideas, new funding, and shifting market trends. From young startups finding their footing to established players pushing boundaries, the continent’s tech space is creating opportunities, solving local problems, and catching the world’s attention. Here’s a look
Nigerian court blocks sale of 54gene’s assets, as founder claims investor wrongdoing
In Lagos, the Federal High Court blocks the sale of 54gene’s assets, preserving the integrity of one of Africa’s most ambitious biotech ventures. The ruling comes amid an explosive legal dispute between 54gene’s founder, Dr. Abasi Ene-Obong, and its major investors—Cathay AfricInvest Innovation Fund and Adjuvant Capital—over allegations of corporate
What Investors Look for in African Startups
The days of winning over investors with flashy user numbers and rapid growth alone are over. In 2021, that may have sealed the deal. In 2025, the conversation starts with fundamentals. “Talk me through your unit economics,” an investor now asks as a baseline question. Across Kenya, Nigeria, South Africa,
8 African Startups that Raised Series A in H1 2025
In the first half of the year alone, startups on the continent raised over $1.35 billion, representing a 78% increase from the same period in 2024. At the heart of this funding surge are Series A rounds—critical for startups ready to move beyond seed funding and scale their operations across
8 Ways African Women Entrepreneurs Are Accessing Global Funding
African women entrepreneurs are rising as innovators and leaders, launching businesses that address real-world problems while supporting their communities. Despite their potential, many face major funding challenges due to structural inequalities, limited networks, and cultural barriers. However, a growing number are now accessing global funding through grants, equity financing, accelerators,
