Despite interest rates, VC funding, and geopolitical tensions, merger and acquisition activity stayed active in 2025, especially across fintech, mobility, telecoms, prop-tech, and software.
A number of deals were completed across Nigeria, South Africa, East Africa, Europe, and the Middle East. While many of the transactions were modest compared to global tech mega-deals, their impact on African tech and cross-border financial infrastructure was substantial.
As in previous years, financial inclusion, payments infrastructure, and international expansion were drivers behind these deals. Several established brands sought to acquire startups with proven product-market fit to accelerate growth, derisk market entry, or consolidate their regional footprints.
Top 10 Acquisitions in Africa in 2025
Below is an analysis of the major 2025 acquisitions based on size, visibility, and industry attention.
1. Bureau Buttercrane acquired by LemFi
LemFi, the Nigerian fintech serving immigrants across 22 countries, acquired Irish FX platform Bureau Buttercrane, securing approval from the Central Bank of Ireland. The deal grants LemFi an Irish operating licence, enabling expansion across the entire European Economic Area (EEA). The acquisition follows LemFi’s $53 million Series B raised weeks earlier. Terms of the deal were not disclosed.
2. Moove acquires Kovi
Africa-born mobility-fintech Moove acquired Kovi, a Brazilian vehicle-access startup backed by Y Combinator. Moove described the deal as an all-share transaction, giving it full ownership of Kovi and strengthening its presence in Latin America’s mobility and fleet-financing market. The value of the transaction was not disclosed.
3. Stitch acquires ExiPay
South African payments company Stitch acquired ExiPay, an in-person payments provider serving enterprise merchants and PSPs across South Africa and select African markets. The acquisition enables Stitch to offer a more complete payments suite, spanning online, API-based, and physical point-of-sale channels. Financial terms were not disclosed.
4. Bankly acquired by C-One Ventures
C-One Ventures, a Nigerian investment firm focused on technology and financial services, acquired Bankly, a licensed microfinance bank serving unbanked and underbanked communities across Nigeria. Bankly reports over 2 million customers and a network of more than 50,000 agents nationwide. The acquisition signals C-One’s move to consolidate its fintech operations under a single structure.
The value of the transaction was not disclosed.
5. Access Bank acquires National Bank of Kenya (NBK) from KCB Group
Access Bank Plc completed its acquisition of NBK, strengthening its East African presence. The deal, initiated in 2024 and finalized on May 30, 2025, boosts Access Bank Kenya’s market share from 0.2% to 1.9%, elevating it from a tier-three to a tier-two financial institution. While the purchase price was not officially disclosed, NBK had been valued at 1.25× book value, placing the deal at an estimated $102 million.
6. Zuvy acquired by BAS Group
Nigeria’s BAS Group acquired a majority stake in Zuvy, a local fintech startup specializing in invoice financing for SMEs. Based on Zuvy’s previously reported funding, analysts estimate the majority stake could fall between $1.5 million and $3 million, though both companies declined to share exact terms. BAS Group now holds over 50% ownership following the deal. The financial details remain undisclosed.
7. Chowdeck acquires Mira
Nigerian YC-backed delivery platform Chowdeck acquired Mira, a restaurant management and point-of-sale startup offering QR menu ordering, payments, inventory tracking, and hardware POS systems. Mira reported usage across 500+ businesses prior to the acquisition. The purchase price was not disclosed.
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8. Roqqu acquires Flitaa
Nigerian crypto exchange Roqqu acquired Flitaa, a Kenya-based cryptocurrency platform operating in Kenya, Ghana, Uganda, and Tanzania. The all-cash deal is the first publicly confirmed intra-African acquisition in the crypto sector. Flitaa’s operations will be integrated into Roqqu’s platform. The acquisition amount was not disclosed.
9. SmartCrowd acquired by Nawy
Egypt’s Nawy, one of Africa’s largest proptech platforms, acquired a majority stake in SmartCrowd, a Dubai-based fractional real-estate investment platform. The acquisition marks one of the earliest notable Africa–Gulf cross-border proptech transactions and expands Nawy’s reach into high-yield Middle Eastern property markets. The fee for the acquisition was not disclosed.
10. AXIAN Telecom acquires Wananchi Group
Madagascar-based AXIAN Telecom completed its $63 million acquisition of Wananchi Group, the parent company of Kenya’s Zuku Internet and Tanzania’s Simbanet. Wananchi, one of East Africa’s longest-standing ISPs, played a key role in pioneering home-fibre connectivity in Kenya. The deal is expected to intensify competition in East Africa’s broadband market.
A clear pattern across these transactions is the high rate of undisclosed deal values, reflecting a trend in African and emerging-market M&A where private companies often keep valuation and pricing details confidential.
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