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    Ecosystem News

    IFC Halts $50m Credit Line for African Fintech Onafriq

    The IFC’s proposed $50m investment, comprising an A Loan and B1 Loan Participations, was intended to further fuel Onafriq’s growth.

    The Top Small-Ticket VCs Backing Early-stage Tech Startups in Africa

    Investments in African tech startups go beyond supporting unicorns. There are hard-tilling VCs operating at the roots.

    DOB Equity Backs Water Filter Startup in Strategic Shift After Portfolio Setbacks

    Karen Serem Waithaka, who took over as CEO of DOB Equity last year, is leading the fund’s new direction.

    Purple Elephant Ventures Secures Record $4.5 Million Seed Round for African Tourism Tech

    The $4.5 million seed round will allow PEV to scale its existing portfolio.
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    Finimo Founders Sell Fintech Spinoff Exipay to Stitch Two Years After Launch

    Netherlands-headquartered Exipay, originally a spin-off from Mr. Büchner and Mr. Keats’ IT consulting firm, specializes in building fintech solutions.

    NjiaPay Secures $1m+ in Pre-Seed Funding to Streamline African Payments

    NjiaPay’s platform acts as an aggregator of PSPs and payment methods, offering businesses a single integration point for managing transactions.

    New Five-Year Grant Deal for Africa Sidesteps Trump’s Foreign Aid Freeze

    “The extension of our strategic partnership reaffirms our shared commitment to creating a more sustainable and prosperous future for Africa,” said USTDA Director.

    Egypt’s Paymob Expands to UAE with Retail Payment License Backed by $72 Million Series B

    In the UAE, Paymob’s operations have scaled rapidly. Within just 14 months, transaction volumes in the UAE matched what took five years to achieve in Egypt.

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    Finimo Founders Sell Fintech Spinoff Exipay to Stitch Two Years After Launch

    Netherlands-headquartered Exipay, originally a spin-off from Mr. Büchner and Mr. Keats’ IT consulting firm, specializes in building fintech solutions.

    NjiaPay Secures $1m+ in Pre-Seed Funding to Streamline African Payments

    NjiaPay’s platform acts as an aggregator of PSPs and payment methods, offering businesses a single integration point for managing transactions.

    Trump’s Aid Freeze Hits African Insurtech Firm OKO as New Battle for Survival Begins

    “We survived COVID-19, we survived the war in Israel, but we might not survive Donald Trump.”

    Ignite Power Takes Over ENGIE Energy Access in Major African Solar Deal

    This is Ignite’s fourth acquisition in the past two years, cementing its position as a leading consolidator in the African energy access sector.