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 at the key moments and trends from the past week.
Tech News Highlights
Google invests $37 million in African AI initiatives
Google announced a $37 million push into AI-related grants and research across Africa, focusing on food security, digitization in 40 African languages, and educational scholarships. Nigeria, Kenya, South Africa, and Ghana are primary beneficiaries
Lagos court stops 54gene asset sale
A Lagos court has halted the $3 million sale of 54gene’s biobank amid a bitter dispute between founder Dr. Abasi Ene‑Obong and key investors, raising wider concerns over governance and the ethical ownership of African genomic data.
Treepz expands to Canada with University of Toronto deal
Nigerian corporate travel startup Treepz has launched in Canada, securing a two-year partnership with the University of Toronto’s African Impact Initiative as its first North American client. Founded in 2019, the company operates a digital ride-booking platform and bus travel aggregator, serving over five million customers across four African countries.
Squirrel Away launches South Africa’s first investment gifting app
Johannesburg-based Squirrel Away has launched its mobile app, enabling users to invest in a child’s future through low-cost contributions into ETFs. Founded by Sibongile Maputla and rolled out in May, the platform simplifies gifting while promoting responsible financial habits, allowing users to start investing from as little as ZAR10.
MAX debuts West Africa’s first solar-powered battery swap station
Nigerian e-mobility startup MAX has launched what it says is West Africa’s first solar-powered battery swap station. Powered by a 20kWp solar PV array, 24kW inverter, and 30kWh battery bank, the Nigeria-based facility offers 24/7 swaps for riders. The move is part of MAX’s plan to cut grid reliance and replace fuel generators with clean energy.
Affinity raises $8m to scale inclusive digital banking in Ghana
Ghanaian fintech Affinity, founded in 2022 by Tarek Mouganie, has launched a branchless digital banking platform serving informal workers and MSMEs with low-cost accounts, savings, payments, and loans. Now with 70,000 users and 97% loan repayment rates, the startup has raised an oversubscribed US$8 million seed round led by Backed VC and Grazia Equity to expand in Ghana.
Major Funding Rounds (July 28–August 3, 2025)
Sun King – Off-grid Solar Energy (Kenya)
- Amount raised: US $156 million
- Lead investors: Citi (arranger/structurer), Stanbic Bank Kenya Ltd (placement agent), backed by five commercial banks and three DFIs
Sun King, the world’s largest off-grid solar company, closed Kenya’s largest-ever securitisation outside South Africa to expand affordable pay-as-you-go solar access. Founded in 2007, the company has provided $1.3B in solar loans to nearly 10M customers across Africa.
This deal will enable 1.4M low-income households and businesses to replace costly kerosene/diesel with solar, boosting energy access and supporting local-currency financing for green energy in Africa.
HAVAÍC – VC Fund Second Close & New Investments (South Africa)
- Amount raised: US $25 million second close of African Innovation Fund 3 (target US$50M)
- Lead investors: Sanlam Multi-Manager, with follow-on commitments from Fireball Capital and SA SME Fund
HAVAÍC, a Cape Town-based VC firm investing in early-stage, high-growth African-born tech startups, has reached a US$25M second close for its African Innovation Fund 3, targeting 15 investments between seed and Series B stages.
Recent investments include a US$1M lead investment in SAPay, digitising payments in South Africa’s taxi industry, and a US$1M follow-on in sports analytics platform Sportable. Earlier 2024 investments include NjiaPay (Pan-African payments) and SwiftVEE (livestock trading).
MoneyBadger – Bitcoin Payments (South Africa)
- Amount raised: US $400,000 pre-seed
- Lead investor: P1 Ventures
MoneyBadger, founded in 2022 in Stellenbosch, enables safe, seamless bitcoin payments for merchants and consumers via its merchant API and universal translator app, supporting Lightning Network transactions and major crypto wallets.
The startup has deployed bitcoin payment solutions to 1,600+ South African outlets, processing 20,000 transactions. Its funding will accelerate partner network expansion, explore new African markets, and establish more real-world bitcoin use cases beyond South Africa.
Trends to Watch
1. VC fundraising picking up
Firms like Havaíc are continuing to raise dedicated African tech funds—new commitments signal investor confidence in African startups, even at earlier stages.
2. Fintech remains dominant
Fintech captured nearly half of all H1 funding; however, sectors like energy & water, healthtech, and housing tech posted significant funding and growth momentum.
3. Geographic concentration on the rise
South Africa and Egypt emerged as leading funding destinations, each drawing more than $300 million in H1—while Nigeria, despite its ecosystem size, saw comparatively lower inflows in this period.
4. Rise in acquisitions and consolidation
M&A activity surged in H1, with 29 transactions, especially in fintech. These exits—notably including Fatura (Egypt) and Baobab+ (West Africa)—underscore growing ecosystem maturity.
5. AI and corporate investment ramp‑up
Google’s $37 million bet on Africa’s AI research reflects Big Tech’s interest in African languages, climate resilience, and capacity-building in key innovation hubs.
6. Persistent gender funding gap
Women‑led startups composed just 9% of deals and 0.9% of total capital in early 2025. Female CEOs captured only ~4 percent of aggregate funding, highlighting a serious equity challenge.
Conclusion
Africa’s tech scene continues to show momentum, with record-breaking funding, bold corporate bets, and global expansions. Google’s $37 million AI push, Sun King’s $156 million green energy financing, and fintech growth signal strong investor confidence.
Yet, the 54gene dispute highlights governance gaps that could threaten credibility. From solar-powered mobility to investment gifting apps, innovation is thriving—but closing the gender funding gap and strengthening oversight will be key to sustaining Africa’s rise on the global tech stage.
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