Today Africa Weekly | October 20 – 26, 2025

October 27, 2025

Today Africa Weekly | October 20 – 26, 2025

You didn’t hear this from me, but… Africa’s tech scene was a bit dramatic last week (October 20 – 26, 2025).

On Monday, the 20th, AWS crashed half the internet, while still trying to recover, the news of Moniepoint raising $90 million started flying around.

Founders are either firefighting or fundraising, sometimes both.

Anyway, let’s talk about it.

African tech news highlights

SA’s VALR completes Proof of Reserves audit by Hacken

South Africa’s VALR, the continent’s largest crypto exchange by trade volume, has completed a comprehensive Proof of Reserves audit by blockchain security firm Hacken.

The audit confirmed that VALR maintains a full 1:1 backing for all user assets, with collateral ratios exceeding 100% across major cryptocurrencies.

The company says the milestone underscores its commitment to user trust and financial integrity amid growing calls for transparency in the global crypto industry.

Nairabox acquired by travel group Wakanow

Wakanow expands into the entertainment space with the acquisition of Nigerian startup Nairabox, a popular platform for movie and event tickets. The move marks a shift from traditional travel booking to a broader “experience economy” that blends travel, leisure, and payments. CEO Bayo Adedeji says the integration will let users explore culture as seamlessly as they book flights or hotels.

Threndx, a social media platform that “pays you to be you”

Nigeria’s new social media platform, Threndx, has launched globally, promising users a fresh way to connect, create, and earn. Founded by Agbene Ejigah, Arun Ahir, and Ijeamaka Ojeifo, the app seamlessly blends photo and video sharing, blogging, storytelling, and rewards within a secure and intuitive interface. Available on iOS and Android, Threndx positions itself as a safer, more rewarding alternative to traditional social networks.

Read Last Week’s Edition Here

Kenyan innovator wins $67k for sign-language app

Kenyan innovator Elly Savatia has won the Royal Academy of Engineering’s Africa Prize for Engineering Innovation for Terp 360, an AI-powered app that translates speech into sign language using 3D avatars.

The solution addresses interpreter shortages across classrooms, workplaces, and public services, earning Savatia a £50,000 ($67,000) award. Other finalists from Uganda, Ghana, Kenya, and Mozambique were also recognized for innovations spanning renewable energy, smart housing, and sustainability.

Egyptian startup, Breadfast, launches fintech arm

Egyptian quick commerce startup Breadfast has launched Breadfast Pay, a fintech arm aimed at creating a full-fledged super-app for Egyptian households. The move follows a $10 million Series B2 round led by Novastar Ventures and the EBRD, pushing the company’s valuation to around $400 million.

In partnership with ADIB Egypt, Visa, and Masria Digital Payments, Breadfast Pay introduces a regulated payment card that enables users to save, withdraw, and manage daily spending directly through the app.

Key funding rounds (October 20 – 26, 2025)

Locstat secures €2.5m pre-Series A to scale AI intelligence platform in Europe

Sector: Artificial Intelligence & Data Analytics (fraud detection, decision intelligence)
Lead investor(s): Portugal Gateway Fund (PGF) and ANZA Capital
Why it matters: Strengthens Africa’s AI footprint while expanding a home-grown solution to global markets.

Founded in 2016, Locstat’s graph-powered AI platform helps banks and fintechs detect fraud, enhance compliance, and uncover real-time insights from connected data. The funding—led by PGF and ANZA Capital—will enable the team to grow its European presence, build new partnerships, and advance its technology for faster, smarter decision-making.

Rana Energy raises $3m to scale clean energy services

Sector: Renewable Energy & Sustainability (solar, battery storage)
Lead investor(s): Techstars, EchoVC Eco, FSDH Asset Management (via green debt facility)
Why it matters: Accelerates Africa’s clean energy transition by combining venture equity with green debt to power businesses sustainably.

Founded in 2023, Rana plans to grow its asset base to 10 MW within a year and enter new markets in Ghana and Zambia, proving that aggregated sub-1 MW systems can attract institutional capital and drive measurable impact.

Moniepoint completes $200m Series C round

Sector: Fintech (payments, banking, business management)
Lead investor(s): Development Partners International’s ADP III fund, anchored by LeapFrog Investments
Why it matters: Strengthens Africa’s largest merchant payment ecosystem, fuels continental expansion, and underscores profitability at unicorn scale

Founded in 2015 as TeamApt by Tosin Eniolorunda and Felix Ike, Moniepoint powers most of Nigeria’s POS transactions and processes $17 billion monthly while operating profitably. The round, led by Development Partners International and LeapFrog Investments with participation from Visa, Google’s Africa Investment Fund, IFC, and others, will drive Moniepoint’s next phase of growth and expansion across Africa and beyond.

Spiro secures $100m to expand electric mobility across Africa

Sector: Electric Mobility & Clean Energy (two-wheel EVs, battery swapping)
Lead investor(s): The Fund for Export Development in Africa (FEDA), the investment arm of Afreximbank
Why it matters: Accelerates Africa’s shift to clean, affordable transportation while deepening local EV manufacturing and battery-swapping infrastructure.

Kenya-based electric mobility company Spiro has raised $100 million to scale its battery-swapping network and grow its fleet of electric motorcycles across Africa. With 60,000 vehicles, 1,200+ swap stations, and 26 million swaps to date, Spiro is already the continent’s largest EV operator. The new funding, led by FEDA, will support expansion into new markets and strengthen its tech platform, as the company targets 100,000 deployed vehicles by 2025.

Kotani Pay secures strategic investment from Tether

Sector: Web3 Infrastructure & Digital Payments (blockchain, cross-border finance)
Lead investor(s): Tether
Why it matters: Strengthens Africa’s Web3 payment rails, bridging local currencies with global digital assets and expanding financial access for underserved communities.

Kenyan startup Kotani Pay has received strategic funding from Tether to scale its blockchain-based payment infrastructure that connects Web3 users to local payment channels across Africa. The partnership will enhance cross-border payments, reduce transaction costs, and provide global liquidity access for SMEs and individuals who areoften excluded from international financial systems.

PAYDAY closes pre-seed round at $3m valuation

Sector: Insurtech & Financial Inclusion
Lead investor(s): UGFS North Africa, with participation from TALYS Group and BioProtection SA
Why it matters: Expands access to digital financial tools for low- and middle-income workers, bridging the gap between insurers, banks, and employers in North Africa.

Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY provides digital financial solutions that help workers boost productivity and financial stability. With over 10,000 transactions worth $2.8 million processed so far, the new investment will fuel PAYDAY’s evolution into a financial and insurance aggregator—linking banks, microfinance institutions, and insurers to serve both businesses and individuals.

Trends to watch

1. Big, strategic capital is still flowing into infrastructure and fintech

Large cheques and asset deals, from tower transactions to $100m mobility investments and a near $90m fintech close, show investors are still willing to back capital-intensive plays that promise scale and defensibility.

2. Crypto and token presales remain active but uneven

There’s heavy activity in token presales and meme/gaming crypto projects. That brings short-term liquidity and hype, but it’s a double-edged sword for the industry’s long-term credibility. Expect more scrutiny and calls for audits or reserves proofs.

3. Operational resilience gained spotlight after the AWS outage

October 20’s AWS disruption highlighted single-region risk and the need for multi-region strategies, better disaster recovery, and local fallback. Founders should be asking whether uptime guarantees and cloud architecture choices match product-criticality.

4. Investor interest remains diverse across sectors

Fintech and mobility took the week’s biggest headlines, while insurtech, energy, and web3 projects continued to find early-stage capital. That suggests a healthy, if selective, appetite for both deep-tech infrastructure and consumer-facing fintech.

5. More visible moves on audits, compliance, and regulation

Exchanges conducting Proof of Reserves audits and local projects launching legal/data-protection education show a maturing market that’s more comfortable with transparency and compliance signaling. That’s good for investor confidence over time.

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