Global AI Expansion Raises Labor Concerns in East African Markets.
Silicon Valley’s AI vision raises alarms over democracy, labor, and humanity.
A new investigative series, Captured, exposes how Silicon Valley’s AI ambitions are evolving into a quasi-religious ideology, prioritizing techno-elitism over democratic values and worker welfare. The podcast, led by journalist Isobel C. and Cambridge Analytica whistleblower Christopher Wylie, traces AI’s global footprint—from lavish investor parties in flood-hit Dubai to impoverished content moderators like Meta’s Mercy Chimwani in Nairobi earning $1 an hour for traumatizing labor.
The series reveals stark contrasts between AI’s builders and its enablers. In San Francisco, developers tout dreams of digital immortality and omniscience, while in Kenya’s informal settlements, workers silently train these systems under exploitative conditions. Former CTOs and startup investors push for minimal regulation, rejecting European-style democratic checks. Meanwhile, early internet pioneers like Judy Estrin warn of blind faith in innovation overtaking critical thought.
As AI shapes economies and cultures, Captured questions whether citizens are willingly adopting a belief system rooted in inequality and automation. The investigation urges the public to challenge the unchecked influence of AI evangelists before this vision of the future becomes irreversible.
#AIgovernance #SiliconValley #TechEthics #DigitalLabor #MetaModerators #TechnoPopulism #AIandDemocracy #ContentModeration #FutureOfWork #CapturedSeries
𝐀𝐟𝐫𝐢𝐜𝐚 𝐔𝐧𝐢𝐭𝐞𝐬 𝐭𝐨 𝐂𝐫𝐞𝐚𝐭𝐞 𝐂𝐨𝐧𝐭𝐢𝐧𝐞𝐧𝐭𝐚𝐥 𝐀𝐈 𝐅𝐮𝐧𝐝 𝐚𝐬 𝐋𝐞𝐚𝐝𝐞𝐫𝐬 𝐄𝐧𝐯𝐢𝐬𝐢𝐨𝐧 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 $𝟐.𝟗 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐈𝐦𝐩𝐚𝐜𝐭.
African leaders have announced plans to establish a continent-wide AI fund to finance critical infrastructure, skills development, and energy resources needed to accelerate artificial intelligence adoption across the region. The initiative, revealed at the Global AI Summit on Africa, aims to mobilize resources from all 54 African nations, private stakeholders, and international partners to build the foundation for Africa's AI-driven future. With AI projected to inject $2.9 trillion into Africa's economy by 2030, creating 500,000 annual jobs and lifting 11 million people out of poverty, Rwanda's President Paul Kagame emphasized that "Africa can't afford to be left behind, once again playing catch up."
The economic implications of this initiative are substantial, with AI projected to inject $2.9 trillion into Africa's economy by 2030—potentially lifting 11 million people out of poverty while creating 500,000 jobs annually. Rwanda alone anticipates a $589 million boost (approximately 6% of GDP) over the next five years through its National AI Policy implementation. Leading stakeholders are emphasizing collaborative approaches, with Equity Group CEO James Mwangi advocating for abandoning the "narrow mentality" separating public and private initiatives to build inclusive digital infrastructure benefiting the entire continent. African Continental Free Trade Area Secretary-General Wamkele Mene underscored the importance of measuring implementation progress across harmonized digital market rules, while World Economic Forum Managing Director Jeremy Jurgen highlighted how AI infrastructure could transform opportunities for smallholder farmers, SMEs, and over 800 million AI-native youth across the continent—positioning Africa to leverage its demographic advantage in the global AI revolution.
JP Morgan to expand in Nigeria with merchant banking licence bid.
JP Morgan is seeking a merchant banking license from Nigeria's Central Bank to expand in Africa's largest economy. The bank's Lagos office will become a full-service branch, allowing Nigerian firms to get dollar-denominated loans and improving local access to global financial solutions.
In recent months, JP Morgan and Nigerian financial officials held high-level meetings. The bank strives to increase investor confidence, Nigeria's economy, and company liquidity. Its Nigerian services include advice and asset management, but the new licence will expand financing alternatives.
The move is part of JP Morgan's Africa expansion strategy. Recent office openings in Abidjan and Nairobi demonstrate its commitment to helping government and corporate clients issue Eurobonds and attract foreign investment. Analysts expect the bank's Nigerian expansion to boost capital markets and regional banking.
#JPMorgan #NigeriaFinance #MerchantBanking #DollarLoans #CBN #InvestmentAfrica #Eurobonds #CorporateFinance #AfricaBanking #LagosFinancialHub
Absa plans Dubai expansion to strengthen investment banking presence in MENA region.
Absa Group Bank is preparing to establish a corporate and investment banking (CIB) office in Dubai, pending regulatory approval, as part of its strategy to deepen ties with clients and expand its presence in the Middle East and North Africa (MENA). The move positions Absa alongside competitors such as Investec and Standard Bank, which have already made inroads into the region. CIB CEO Yasmin Masithela said the office will support clients aligned with the bank’s infrastructure development focus.
The expansion comes amid rising trade flows between Sub-Saharan Africa and the Gulf region. According to the World Economic Forum, UAE-Africa trade has surged 30%, and Saudi-Africa trade has grown twelvefold over the past decade. The UAE and Saudi Arabia were also recently admitted to the BRICS bloc, underscoring their growing influence in global markets. Absa already has international offices in the US, UK, and China, and views Dubai as a strategic addition to its global footprint.
Absa expects moderate growth in its investment banking segment, with higher double-digit growth projected for corporate banking. The move follows the recent appointment of Kenny Fihla as CEO of Absa Group and Absa Bank. Fihla previously led Standard Bank’s CIB unit, where he doubled earnings to R20.5 billion, and is expected to bring similar growth momentum to Absa's regional expansion strategy.
NGX equity turnover plunges as investors lose N370 billion amid holiday-shortened week.
Equity trading on the Nigerian Exchange Ltd (NGX) dropped sharply this week, with investors transacting 1.183 billion shares worth N28.87 billion across 42,397 deals—an 1,282% decline in value from the previous week’s N398.95 billion. The reduced activity followed a two-day trading halt for the Eid el Fitr holidays. Market capitalisation fell by N370 billion, while the NGX All-Share Index depreciated by 0.14% to close at 105,511.89 points.
Fidelity Bank, Zenith Bank, and Universal Insurance led trading, contributing 22.36% of total volume and 20.55% of value. The financial services sector dominated the chart with 906.59 million shares valued at N18.93 billion. The consumer goods and services sectors followed, accounting for 71.06 million and 47.31 million shares respectively. Despite the market downturn, indices such as NGX Banking, NGX Pension, and NGX MERI Value recorded modest gains, while the broader market remained under pressure.
Fifty-one equities declined, compared to 36 last week, with UAC of Nigeria and Oando among the top losers. Meanwhile, 23 stocks appreciated, down from 43 previously. VFD Group, Union Dicon Salt, and Africa Prudential led gainers, rising by up to 20.76%. The week's mixed performance reflects cautious investor sentiment amid fewer trading days and lingering market uncertainties.
#NigerianStockMarket #NGX #EquityTrading #MarketUpdate #FinancialMarkets #Investors #StockLosses #BankingSector #MarketPerformance #EidHolidays #NigeriaFinance
CBN injects $197.71m into FX market amid naira depreciation and global economic pressures
The Central Bank of Nigeria (CBN) injected $197.71 million into the foreign exchange market on April 4, 2025, in a bid to stabilize the naira and ensure adequate liquidity. This move follows intensified volatility driven by global economic shifts, including new U.S. import tariffs and falling crude oil prices. The intervention aligns with the CBN’s objective of promoting a stable, transparent, and efficient FX market, according to a statement by the Financial Markets Department.
The CBN cited a 12% drop in crude oil prices to $65.50 per barrel and global market reactions to U.S. tariff policies as key pressures affecting Nigeria’s exchange rate. These developments have weighed heavily on oil-exporting economies, triggering capital flow uncertainties and local currency pressures. The bank reaffirmed its commitment to maintaining market order and urged authorized dealers to follow the Nigerian FX Market Code to support transparency.
Despite the intervention, the naira depreciated further, closing at N1,600/$1 on April 4, down 1.9% from the previous day and its weakest level since December 2024. Intra-day trading saw highs of N1,625 and lows of N1,519, highlighting divergent market sentiment. The average NFEM rate settled at N1,567, indicating persistent depreciation and signaling potential continued volatility unless sustained policy responses are applied.
#CBN #NigeriaEconomy #NairaWatch #ForexMarket #FXIntervention #CrudeOilPrices #EmergingMarkets #FinancialStability #TradeTariffs
Standard Bank warns of rising card-not-present fraud as digital scams grow in South Africa.
Standard Bank Group has issued a warning to South African consumers over the increasing risk of Card-Not-Present (CNP) fraud, driven by the growth of digital platforms such as delivery apps, e-hailing services, and online shopping. The bank noted that cybercriminals are exploiting e-commerce systems and social media ads to steal card information and make unauthorized transactions. Fraudsters often use malicious pop-ups or fake websites to deceive users into providing sensitive card data.
According to Athaly Khan, Head of Fraud Risk Management at Standard Bank, these scams are evolving with AI tools and algorithm-based targeting, making them harder to detect. Criminals are leveraging search engine algorithms to display fake investment ads and Ponzi schemes, funded using stolen card details. Platforms offering virtual payments for advertising campaigns are particularly vulnerable, as they allow fraudsters to bypass security layers using saved card credentials.
Standard Bank advises customers to use official app stores, avoid saving card details unnecessarily, enable two-factor authentication, and use secure platforms like Apple Pay or PayPal. The bank also warned against fraudulent WhatsApp groups impersonating Standard Bank and its affiliates, urging customers to remain alert and use the bank’s card settings feature to control transaction permissions. Staying vigilant is essential as fraud tactics become more sophisticated.
#StandardBank #CNPfraud #CyberSecurity #OnlineFraud #DigitalSafety #SouthAfrica #FintechSecurity #ConsumerProtection #ScamAlert #EcommerceFraud #PhishingScams
Peach Payments acquires PayDunya to enter Francophone West Africa and expand regional reach.
Peach Payments has signed an agreement to acquire PayDunya , a Dakar-based fintech operating across six West African nations. This marks Peach Payments’ first expansion into mainland Francophone Africa, following earlier market entries in Kenya, Mauritius, and Eswatini. The deal, pending standard closing conditions, will give Peach Payments access to new regional markets and strengthen its position as a pan-African payment gateway.
Founded in 2015, PayDunya enables digital payments for businesses through websites, apps, and bulk processing tools. The firm operates in Senegal, Côte d’Ivoire, Benin, Burkina Faso, Togo, and Mali and serves clients like VFS Global, SUNU Assurances, and Jeune Afrique. The acquisition gives Peach Payments a strategic entry into the UEMOA and CEMAC regions, where mobile money and ecommerce usage is rising rapidly. Statista projects the West African ecommerce sector will reach $15.33 billion by 2029, with nearly 48 million users.
This transaction is Peach Payments’ third major move since raising $30 million in Series A funding in 2023. Previous acquisitions include Exipay’s in-store payment tech and software firm Operativa.
#PeachPayments #PayDunya #FrancophoneAfrica #FintechExpansion #DigitalPayments #AfricanEcommerce #WestAfrica #CrossBorderPayments #FintechNews #UEMOA #CEMAC
Ghana scraps 1% E-Levy to revive digital payments and boost financial inclusion.
Ghana has officially abolished the 1% Electronic Transfer Levy (E-Levy) effective April 2, 2025, following presidential assent to the Electronic Transfer Levy Amendment Act. The Ghana Revenue Authority (GRA) has instructed all financial institutions and payment platforms to halt deductions and reconfigure systems for a "no charge" policy. Any E-Levy deducted after the effective date must be refunded, with institutions required to submit detailed reports of processed refunds to the GRA.
Entities still applying the levy or failing to issue refunds face legal sanctions, and the GRA has announced regular compliance checks to enforce the directive. Institutions must also account for and remit any outstanding E-Levy collected before April 2, and maintain transaction records for at least six years in line with tax laws. The removal of the levy ends a policy that had faced widespread criticism for discouraging mobile money use and digital payments.
Analysts say the move will help restore confidence in Ghana’s digital finance ecosystem, encouraging greater use of electronic transfers and advancing financial inclusion. The E-Levy’s abolition is seen as a strategic effort to stimulate the digital economy by reducing transaction costs and supporting broader access to financial services.
#GhanaEconomy #DigitalPayments #ELevyScrapped #FinancialInclusion #MobileMoney #GRA #FintechAfrica #PolicyShift #DigitalEconomy #AfricaFinance
Zepz secures fresh funding to scale digital remittances and prepare wallet launch in 2025.
Zepz , the parent company of WorldRemit and Sendwave (International Remittance) , has raised new funding to expand its operations, enhance user experience, and reduce transfer costs. This follows its $267 million Series F raise in 2024, reflecting sustained investor confidence despite global fintech funding slowdowns. The company, which serves over 9 million users across 4,600 payment corridors, aims to strengthen its global market position and boost transaction speed and reliability through its fully digital platform.
With over 85% of its transfers completed within minutes, Zepz offers services such as mobile money transfers, airtime top-ups, bank deposits, and cash pickups.
The firm’s 2025 strategy includes launching a digital wallet with savings, insurance, and microloans, targeting migrants who need centralized financial services beyond money transfers. Managing foreign exchange volatility remains a critical challenge for Zepz as it operates in high-risk currency regions.
#Zepz #WorldRemit #Sendwave #DigitalRemittances #FintechGrowth #FinancialInclusion #EmergingMarkets #DigitalWallet #CrossBorderPayments #RemittanceSolutions #FintechInnovation
TerraPay harnesses agentic AI to boost cross-border efficiency and customer support.
TerraPay is integrating agentic artificial intelligence (AI) into its operations to enhance global money movement, particularly in real-time cross-border payments. The company, which connects over 3.7 billion mobile wallets and 7.5 billion bank accounts across 200 sending and 144 receiving countries, is using AI to automate decision-making and streamline processes like fraud detection and compliance. While automation is accelerating, TerraPay maintains a human-in-the-loop approach to ensure accuracy in customer-facing interactions.
AI models are improving internal operations by analyzing anomalies, expediting compliance reviews, and supporting technical integrations with partner institutions. For customer service, machine learning tools assist agents by pre-analyzing transaction issues before they are verified by staff, reducing resolution time. However, TerraPay remains cautious about fully automating sensitive functions in financial services due to the high risk of error and regulatory implications.
The use of agentic AI still faces hurdles such as high costs, fragmented internal data, and unstructured information across software-as-a-service platforms. TerraPay believes industry-wide commoditization and open-source developments will drive down AI costs. Company leadership emphasized the need for unified, clean data to realize AI's full potential, aiming to build a secure, scalable infrastructure that enables faster and more affordable transactions worldwide.
#TerraPay #AgenticAI #CrossBorderPayments #FintechInnovation #AIinFinance #DigitalInfrastructure #ComplianceTech #FasterPayments #AIModels #MachineLearning #CustomerExperience
Djamo raises $17M to expand digital banking across Francophone West Africa.
Ivorian fintech Djamo has secured $17 million in new funding to deepen its reach in Francophone West Africa, marking the largest equity round ever for an Ivorian startup. Backed by Janngo Capital, SANAD Fund, Partech, and Y Combinator, the company aims to scale its offerings for both retail users and small businesses across Côte d’Ivoire and Senegal. The funding follows its $14 million Series A in 2022 and will support the expansion of financial products, including savings, investments, and salary-linked accounts.
Serving over 1 million users, Djamo positions itself between mobile money and traditional banks, targeting young, underbanked users with more advanced yet accessible financial tools. Over 55% of its users are unbanked, and Djamo combines its app with offline agents to boost activation. The startup has also grown its small business user base to 10,000, offering bulk payments, QR tools, and payment links to help merchants manage digital transactions directly from the app.
Djamo has grown revenue fivefold since 2022 and processed $4.5 billion in transactions. It now plans to raise the share of users receiving salaries through its app from 10% to 50% and expand lending and savings features pending regulatory approvals. With a 250-person team, Djamo is looking to scale across Francophone Africa, where fewer than 25% of adults have access to formal financial services. One-third of its user base is women, contributing to financial inclusion in a region with significant gender disparity.
#Djamo #FrancophoneAfrica #FintechFunding #DigitalBanking #FinancialInclusion #MobileMoney #AfricanFintech #IvorianStartups #Neobank #FintechInnovation #GenderInclusion #EmergingMarkets
Fintech thought leaders converge in Helsinki to explore AI, identity, and banking’s future.
In a special crossover episode of Breaking Banks and Fintech Daydreaming, fintech experts Brett King , Pål Krogdahl , and Ville Sointu met in Helsinki for a dynamic discussion on the future of finance. Topics ranged from agentic AI and smart contracts to mobile money and digital identity infrastructure. The conversation emphasized how AI, quantum computing, and cloud-native systems are reshaping banking, highlighting the need for new regulatory, technical, and identity frameworks to support emerging financial ecosystems.
The panel explored global payment transformations led by platforms like UPI, PIX, and Chinese super apps, alongside Europe’s progress on digital identity wallets and Know Your Machine (KYM) standards. They cautioned that banks reliant on branches and outdated systems risk obsolescence. With AI powering real-time, frictionless finance, retail banking is shifting to wallet-based systems and digital platforms that outperform traditional banks in user acquisition and transaction volume.
Smart contracts—rebranded as "digital contracts"—were discussed in the context of supply chains and programmable money, with the trio favoring central bank digital currencies (CBDCs) over private stablecoins due to their regulatory backing. The episode concluded with a look at Brett King's upcoming book Branch Tomorrow, which argues that physical branches must now serve digital banking strategies or face extinction in a channel-less, AI-first future.
Watch now and get future-ready! - https://www.youtube.com/watch?v=f_SjmoJZlY4
IFC invests $100M in Raxio to boost Africa’s digital infrastructure footprint.
The International Finance Corporation (IFC) has committed $100 million in debt funding to Raxio Group, supporting its expansion of Tier III data centres across Africa. This marks IFC’s largest data infrastructure investment on the continent and will finance facilities in Ivory Coast, Mozambique, Ethiopia, and the Democratic Republic of Congo. Raxio launched its first centre in Uganda in 2021 and is now building a regional network to meet rising digital demand.
Despite mobile data usage growing by 40% annually in Africa—double the global rate—the continent hosts less than 1% of global data centre capacity. Hosting data locally reduces latency, costs, and improves national data sovereignty. Raxio's projects are drawing support from governments eager to strengthen digital connectivity, with global cloud providers like AWS, Microsoft Azure, and Huawei increasingly interested in regional hosting solutions beyond Europe and South Africa.
While challenges such as power instability and regulatory complexity remain, IFC’s investment aims to de-risk early-stage ventures and catalyze private capital in frontier markets. The move is expected to advance Africa’s digital economy, enabling the growth of AI, mobile money, and cloud-based services while supporting long-term infrastructure development across key African markets.
#RaxioGroup #IFCInvestment #AfricaDigitalEconomy #DataCentresAfrica #DigitalInfrastructure #CloudAfrica #FintechAfrica #TechInvestment #Mozambique #IvoryCoast #UgandaTech #ConnectivityInAfrica #DigitalTransformation
MTN MoMo hits 13 million users in South Africa amid group-wide revenue losses.
MTN South Africa has reached 13 million registered users on its mobile money platform, MoMo, just five years after relaunching in 2020. Despite a slow initial uptake when first introduced in 2012, the service has gained nearly three million new users annually, offering no-fee mobile transfers, bill payments, and access to financial products like credit and insurance. MoMo is now one of South Africa’s most popular mobile money solutions, helping bridge the country’s digital financial divide.
The platform's success contrasts with broader challenges facing MTN Group, which reported significant financial losses for 2024. The telecom giant lost R11 billion due to the conflict in Sudan and saw revenues in Nigeria fall by R34 billion amid severe naira devaluation and high inflation. Group CEO Ralph Mupita noted that while the macroeconomic environment remains volatile, MTN continues to push strategic priorities across its markets.
To stabilize performance, MTN plans to invest R30 million in its network infrastructure. The company remains Africa’s largest mobile network operator by subscriber base, reporting 291 million users across its footprint in 2024. MoMo’s growth in South Africa highlights mobile money’s resilience and role in advancing financial inclusion despite regional market turbulence.
#MTNMoMo #MobileMoney #FintechSouthAfrica #DigitalInclusion #MTNGroup #TelecomAfrica #FinancialAccess #NairaDevaluation #SudanConflict #AfricaFintech #MobilePayments #MoMoGrowth
FAO hands over digital farmer registry to MRU, boosting data-driven agriculture in West Africa.
The Mano River Union (MRU) received a regional Digital Farmer Registry from the FAO (FAO) to transform agriculture in Guinea, Côte d'Ivoire, Liberia, and Sierra Leone. Policy, targeted subsidies, and food security programs will use real-time data from millions of farmer records digitized by the platform. This is a major step toward modernizing agriculture in a region where fragmented data has hampered intervention.
Freetown hosted the handover after extensive training for national agriculture ministries and MRU Secretariat workers. The SmartConekt-supported register is projected to improve social protection, interact with mobile money platforms, and promote climate resilience through weather-linked systems. FAO officials said the technique might turn reactive policymaking into proactive agriculture planning.
Climate shocks and regional import dependency—Sierra Leone imports over $200 million in rice annually—exacerbate food insecurity, making the register essential for sustained agricultural growth. The MRU proposes countrywide rollouts and system integrations to unite farmers into a digitally connected bloc that can quickly adapt to future difficulties.
#DigitalAgriculture #FAO #MRU #WestAfricaFarming #FarmerRegistry #AgriTechAfrica #FoodSecurity #ClimateResilience #MobileMoney #SmartFarming #SierraLeone #Liberia #Guinea #CotedIvoire
Crypto market sheds $160bn as Trump’s new tariffs spark investor retreat.
The global cryptocurrency market lost $160 billion in value within 24 hours, following former U.S. President Donald Trump’s announcement of sweeping new tariffs on foreign imports. Bitcoin dropped 6% to $81,000, while Ethereum, Solana, and XRP declined 7%, 13%, and 8% respectively. The overall market capitalization fell from $2.78 trillion to $2.62 trillion, intensifying a broader sell-off across financial markets.
Trump's newly announced tariffs include a 10% baseline on all foreign goods, a 25% duty on foreign cars, and sharply higher levies on specific regions such as a 46% tariff on Vietnam and 20% on the EU. The announcement stoked fears of rising inflation and economic slowdown, which weighed heavily on investor sentiment. The Dow Jones and S&P 500 also declined over 3%.
Analysts cite crypto’s high-risk profile as a reason for its outsized decline. The downturn continues a bearish trend triggered in December after the Federal Reserve signaled limited interest rate cuts for 2025. The market has seen Bitcoin fall from its $109,000 peak in January to $78,000 in March before partially rebounding.
#CryptoCrash #BitcoinDrop #TrumpTariffs #Ethereum #Solana #XRP #CryptoMarkets #GlobalEconomy #InflationFears #DigitalAssets #MarketVolatility
Founded by Kenyan-American Josephine K. Stegeman, Human Rights Vision Group Unveils Expanded Global Empowerment & Social Progress Services
The Human Rights Vision Group (HRVG), founded by Kenyan-American Josephine K. Stegeman, has unveiled an expanded portfolio of global programs promoting social justice, human rights, and sustainable development. Under the umbrella theme of “International Dreams For Human Rights,” HRVG integrates education, legal advocacy, health services, environmental protection, and humanitarian aid across multiple countries. The group’s mission centers on empowering communities through data-driven policy, cultural diplomacy, and grassroots engagement.
HRVG’s key programs include a Digital Farmer Registry, addiction rehabilitation, city partnership exchanges, and female genital mutilation (FGM) awareness. It also supports mobile healthcare units, mental health services, education scholarships, and infrastructure development such as irrigation boreholes. Through arts initiatives and environmental campaigns, HRVG promotes global cooperation while amplifying local voices. Animal welfare and disaster relief services are additional pillars of its multifaceted operations.
The organization also emphasizes legislative advocacy and cross-cultural partnerships, mobilizing communities to influence policy and promote inclusive reforms. HRVG’s platform, hrvgroup.org, serves as a hub for participation and outreach. Positioned as a changemaker in the development space, HRVG calls on governments, individuals, and corporations to collaborate on a global movement anchored in dignity, equality, and transformational progress.
#HumanRights #SocialJustice #CommunityEmpowerment #HRVG #GlobalDevelopment #EducationForAll #FGMAwareness #MentalHealth #CulturalDiplomacy #SustainableDevelopment #JosephineStegeman #AdvocacyInAction #InternationalDreams
Kenya court fines neobank Umba for unfair dismissal of executive.
A Kenyan Employment and Labour Relations Court has ordered Umba , a neobank operating in Kenya and Nigeria, to pay KES 2.88 million ($21,600) to former executive Alice Anyango Oduor for unfair termination. The court found that Umba violated due process by dismissing Oduor in January 2023 during her six-month probation without conducting a formal performance review or issuing proper notice.
Oduor, who served as head of growth, claimed she was dismissed via a WhatsApp call without clear targets or evaluations. Umba argued that it had held meetings to clarify expectations, but Judge Stella Rutto ruled the company failed to offer documented proof or provide Oduor with an opportunity to respond. The compensation includes three months' salary and legal costs, and the company must issue a Certificate of Service within 30 days.
The ruling reinforces Kenya’s Employment Act, which mandates fair procedural treatment even during probation. It signals growing regulatory scrutiny of startup employment practices and serves as a cautionary precedent for tech firms expanding in East Africa's fast-evolving markets.
#EmploymentLaw #StartupEthics #KenyaTech #Umba #Neobank #LaborRights #DigitalBanking #EastAfricaBusiness #HRCompliance #TechLegalUpdate
Meta faces $2.4bn lawsuit over Ethiopia hate content as Kenyan court asserts jurisdiction.
A $2.4 billion lawsuit against Meta can proceed in Kenya, the country’s high court has ruled, affirming jurisdiction over the U.S. tech giant in a landmark case focused on Facebook’s alleged role in fueling violence in Ethiopia. The lawsuit, brought by Ethiopian nationals Abrham Meareg and Fisseha Tekle, accuses Meta of failing to curb algorithm-driven hate content during Ethiopia's civil war, including posts that allegedly led to the murder of Prof Meareg Amare Abrha.
The claimants demand structural changes, including more African content moderators and algorithm reforms to prevent incitement. The case also seeks a $2.4 billion restitution fund for victims and a formal apology. Supported by NGOs such as Foxglove and Amnesty International, it marks a major legal test of tech accountability in African jurisdictions.
Meta had contested the case on jurisdictional grounds, arguing Kenyan courts lacked authority. The court’s decision signals a shift in how digital platforms may be held liable for content moderation lapses across Africa. A full trial is expected to examine Meta’s content practices and their broader societal impacts.
#MetaLawsuit #FacebookAfrica #DigitalAccountability #HateSpeech #TechRegulation #EthiopiaConflict #ContentModeration #KenyaHighCourt #PlatformResponsibility #HumanRightsTech
Ripple launches blockchain-based drought aid pilot for Kenyan pastoralists.
Ripple, in partnership with Mercy Corps Ventures and DIVA Donate, has launched a blockchain-powered pilot to deliver preemptive financial aid to drought-affected pastoralists in northern Kenya. The program will use Ripple’s USD-backed stablecoin, RLUSD, deployed on Ethereum via smart contracts that trigger automatic payouts based on satellite data measuring vegetation levels.
Targeting 533 pastoralists in Laikipia County, the pilot utilizes the Normalized Difference Vegetation Index (NDVI) to detect drought conditions. If vegetation thresholds fall below a set level by May 31, 2025, $75 in RLUSD will be distributed to each affected pastoralist to subsidize food and water for livestock. Contributions are pooled in RLUSD, and unused funds may be redirected to future relief efforts.
The initiative highlights blockchain’s potential in improving humanitarian aid delivery, particularly for unbanked populations. By ensuring faster, transparent, and condition-based disbursements, stablecoins like RLUSD offer a programmable and cost-effective alternative to traditional aid systems. Ripple continues to expand its Ripple Impact program to test blockchain solutions in financial inclusion and crisis response.
#BlockchainForGood #RippleImpact #Stablecoins #KenyaRelief #DroughtAid #RLUSD #SmartContracts #HumanitarianInnovation #DigitalAid #MercyCorpsVentures
YouTube creators challenge moderation bias in landmark study on aspirational governance.
A new academic study explores how creators are using reaction videos on YouTube to question content moderation practices and platform bias, especially regarding race and transparency. The research, published in Internet Policy Review, examined 115 videos created in response to a viral post by CoryxKenshin, a Black gaming creator with over 21 million subscribers, who accused YouTube of racial bias in content moderation. The study introduces the concept of aspirational platform governance to describe this informal, creator-led movement seeking reform without guaranteed influence.
The findings reveal a fragmented but vocal ecosystem where creators—especially Black male YouTubers—use personal testimony and peer comparisons to evaluate opaque moderation decisions. While over 80% of creators believed moderation is biased, fewer directly endorsed claims of racism, citing limited transparency. High-profile YouTubers and small creators alike engaged in the discourse, showing that perceived discrimination resonates across the platform’s size and genre tiers.
Despite minimal policy changes from YouTube, the study argues this meta-moderation fosters solidarity, surfaces unseen patterns, and encourages structural accountability. By airing grievances publicly, creators simultaneously challenge and legitimize platform governance, emphasizing the need for more participatory, transparent content moderation systems.
#ContentModeration #PlatformBias #YouTubeCreators #DigitalGovernance #AspirationalGovernance #CoryxKenshin #OnlineModeration #AlgorithmicBias #MetaModeration #SocialMediaJustice
NCBA secures KES 3B guarantee from AGF to expand SME lending in Kenya.
NCBA Group has signed a 10-year KES 3 billion enhanced guarantee agreement with the African Guarantee Fund (AGF), aimed at increasing access to credit for small and medium enterprises (SMEs) in Kenya. The deal will enable NCBA to support renewable energy, sustainable agriculture, and women-led businesses through long-term, flexible financing. This comes as NCBA’s total SME disbursements under AGF’s risk-sharing mechanism reached KES 16.4 billion, directly supporting 696 SMEs and generating over 7,200 jobs.
Signed by NCBA Group MD John Gachora and AGF CEO Jules Ngankam, the partnership renewal underscores a 12-year relationship focused on advancing financial inclusion. AGF will also provide a Capacity Development grant to build a credit-ready pipeline of women-led SMEs. The collaboration aligns with AGF’s AFAWA initiative and Green Guarantee Facility, while also supporting NCBA’s broader sustainability and inclusion agenda, including its partnership with Proparco for green and women-centered financing.
NCBA reaffirmed its commitment to women entrepreneurs during a recent Women’s Day event in Kapsabet, pledging targeted financial solutions and mentorship. SMEs under the new facility will benefit from access to digital banking, foreign exchange, and cash management tools. AGF’s broader impact spans 44 African countries, unlocking over USD 5 billion in SME financing since inception.
#SMEFinance #GreenEconomy #WomenInBusiness #FinancialInclusion #NCBA #AGF #KenyaBusiness #AFAWA #SustainableDevelopment #InclusiveBanking
New compensation report reveals salary gaps and transparency trends in African investment firms.
A new study titled The Compensation Map: African Investment Salaries Report 2025, jointly published by Dream VC and the A&A Collective, reveals crucial insights into compensation trends across Africa’s venture capital, private equity, and impact investing sectors. Based on 209 responses from 28 countries, the report highlights that while analysts in Africa earn an average of $21,000 annually, their peers abroad command $28,000. The disparity grows with seniority, with investment managers abroad earning $110,000 compared to $70,000 within the continent.
The report underlines a persistent gap in carry allocation, especially at junior levels, and shows that most professionals do not receive equity-linked compensation. USD remains the dominant salary currency, and 53% of roles support remote or hybrid arrangements. Benefits like health insurance and paid time off are common, though 17% receive no workplace benefits. Kenya, Nigeria, and South Africa account for the majority of participants, reinforcing their roles as regional investment hubs. Gender representation stood at 43% female, though senior roles remain male-dominated.
By creating transparency around pay structures, the report aims to support salary benchmarking, foster equitable hiring, and strengthen Africa’s talent pipeline in investment. The findings also signal the need for more localized data, broader inclusion at C-suite levels, and better compensation alignment with global standards to retain talent within the continent.
Download the report here: https://www.africainvestmentsalaries.com/
#InvestmentSalaries #DreamVC #AfricaVC #PayTransparency #PrivateEquityAfrica #VentureCapitalAfrica #WomenInFinance #EmergingMarkets #ImpactInvesting #TalentDevelopment
KEPSA and KenInvest sign pact to boost investor confidence and streamline business climate.
In a strategic move to strengthen Kenya’s investment landscape, the Kenya Private Sector Alliance (KEPSA) and Kenya Investment Authority (KenInvest) have signed a cooperation agreement focused on streamlining investment processes and enhancing investor engagement. The pact, signed in Nairobi by KEPSA CEO Carole Kariuki and KenInvest CEO John Mwendwa, outlines joint initiatives including investment forums, trade delegations, and policy advocacy.
Key priorities include streamlining regulations, reducing barriers to entry, and promoting sustainable investment. The agreement also supports the development of platforms such as the KEPSA Market Intelligence Hub and Kenya Investment Single Window to improve data access, coordination, and investor decision-making.
The collaboration is expected to foster a transparent, business-friendly environment and position Kenya as a leading investment hub in Africa. By aligning efforts between public and private sectors, KEPSA and KenInvest aim to boost capital inflows, encourage innovation, and drive inclusive economic growth.
#KenyaInvestment #KEPSA #KenInvest #EaseOfDoingBusiness #PrivateSectorGrowth #InvestmentPromotion #EconomicDevelopment #AfricaInvests #PolicyReforms #InvestorConfidence
Africa’s startup funding slumps in Q1 2025 despite strong January start.
African startups raised $460 million in Q1 2025, marking the second-lowest quarter in five years despite a strong start in January, which pulled in over $300 million. March saw a sharp decline with just $50 million raised—the lowest monthly total since 2020—mainly due to the absence of large funding rounds above $10 million.
Kenya, Nigeria, South Africa, and Egypt led regional fundraising, with Togo entering the top five following Gozem’s $30 million Series B. Fintech remained the top-funded sector, accounting for 46% of total funding, followed by energy and logistics. However, female-led startups continued to face stark disparities, receiving just 0.7% of capital (excluding grants).
Though 52 startups raised over $1 million, sustaining early-stage momentum, the quarter lacked breakout deals. A funding rebound in Q2 may hinge on renewed investor confidence and larger rounds materializing to break the current stagnation.
#AfricanStartups #VCFunding #FintechAfrica #StartupEcosystem #Q12025 #WomenInTech #KenyaTech #NigeriaStartups #InvestmentTrends #AfricaFunding
MTN Cameroon wins $23M court battle, clears path for $225M network expansion.
After nearly three years of legal wrangling, MTN Cameroon has regained access to over $23 million following a February 2025 ruling by the Littoral Court of Appeal in Douala. The court lifted a garnishee order that had frozen the telecom firm’s bank accounts in a case initiated by Bestinver group, led by businessman Ahmadou Baba Danpullo. The freeze stemmed from Danpullo’s separate financial dispute with South Africa’s FNB, where MTN was wrongly implicated through its connection to the Public Investment Corporation.
MTN, which consistently denied any involvement with Bestinver or FNB, called the asset freeze unjustified and maintained that it had no legal ties to the matter. The ruling marks a major legal victory for MTN, enabling it to fully resume its operations in Cameroon without financial obstruction.
The company now shifts focus to executing its $225 million investment in Cameroon’s telecom infrastructure. This includes 5G rollout and expanding rural internet access. With the court hurdle cleared, MTN aims to strengthen its position in the market while advancing digital inclusion goals.
#MTNCameroon #TelecomAfrica #5GAfrica #DigitalInclusion #CameroonNews #CourtVictory #AfricanTelecoms #MTNExpansion
IATA to host first African Ground Handling Conference in Nairobi, spotlighting modernization and collaboration.
The International Air Transport Association (IATA) will host its 37th Ground Handling Conference (IGHC) in Nairobi, Kenya from May 13–15, 2025, marking the first time the global aviation event takes place on African soil. Themed “Elevate,” the event will focus on modernizing operations, enhancing workforce skills, and improving industry collaboration to boost ground handling performance worldwide.
Kenya’s President William Ruto, IATA Director General Willie Walsh, and Kenya Airways CEO Allan Kilavuka will deliver keynotes, reinforcing the continent’s growing role in global aviation. Sessions will spotlight ground and baggage operations, real-time tracking, green technologies, and regulatory coordination, with a special emphasis on Africa’s aviation transformation.
The event highlights Kenya’s commitment to aviation-led development and IATA’s Focus Africa initiative. Kenya Airways, the host airline, aims to position the continent as a global aviation hub while catalyzing economic growth and regional connectivity.
#IATA #IGHC2025 #AviationAfrica #KenyaAviation #GroundHandling #NairobiEvents #FocusAfrica #KenyaAirways #AirTransport #AfricaConnectivity
Visa Appoints New Country Manager for Kenya South Sudan & Somalia.
Visa has appointed John Njoroge as Country Manager and Senior Business Development Leader for Kenya, South Sudan, and Somalia, positioning an industry veteran with over two decades of banking and fintech experience to drive regional expansion of digital payment solutions. Njoroge brings substantial strategic credentials to this role, having previously served as Regional Managing Director for East Africa at Network International and Chairman of the Kenya Credit & Debit Cards Association, where he spearheaded critical industry initiatives including contactless payment adoption, the migration from magnetic stripe to Chip & PIN technology, and enhanced security protocols against card fraud.
In his new role, Njoroge will set strategic direction for Visa's regional business objectives while overseeing the implementation of new products and services designed to accelerate digital payment adoption across all three territories. His extensive industry relationships and proven track record in navigating complex regulatory environments position him to strengthen Visa's client partnerships while identifying growth opportunities that benefit both the company and its partners.
𝑃ℎ𝑜𝑡𝑜: 𝐿-𝑅: 𝐶ℎ𝑎𝑑 𝑃𝑜𝑙𝑙𝑜𝑐𝑘, 𝑉𝑖𝑠𝑎 𝐸𝑎𝑠𝑡 𝐴𝑓𝑟𝑖𝑐𝑎 𝑉𝑖𝑐𝑒 𝑃𝑟𝑒𝑠𝑖𝑑𝑒𝑛𝑡 𝑎𝑛𝑑 𝐺𝑒𝑛𝑒𝑟𝑎𝑙 𝑀𝑎𝑛𝑎𝑔𝑒𝑟 𝑎𝑛𝑑 𝐽𝑜ℎ𝑛 𝑁𝑗𝑜𝑟𝑜𝑔𝑒, 𝑡ℎ𝑒 𝑛𝑒𝑤𝑙𝑦 𝑎𝑝𝑝𝑜𝑖𝑛𝑡𝑒𝑑 𝑉𝑖𝑠𝑎 𝐶𝑜𝑢𝑛𝑡𝑟𝑦 𝑀𝑎𝑛𝑎𝑔𝑒𝑟.
MoneyGram integrates Mastercard Move to expand global real-time payment access.
MoneyGram has partnered with Mastercard to implement Mastercard Move, a portfolio of money transfer solutions enabling faster, more secure cross-border payments. The integration allows U.S.-issued Mastercard cardholders to send funds to 38 international markets in near real-time, while recipients gain access to nearly 10 billion endpoints, including bank accounts, cards, mobile wallets, and cash pick-up locations.
This collaboration aims to streamline remittance flows by enhancing speed, security, and affordability. It leverages MoneyGram’s expansive network across 200 countries and Mastercard’s reach into over 180 countries and 95% of the world’s banked population. More cross-border capabilities will roll out through 2025.
For consumers, the partnership promises a digital-first experience with low transaction costs and broad financial access. This strategic alliance supports MoneyGram’s mission to simplify global money movement and boost financial inclusion through efficient and trustworthy infrastructure.
#Remittances #MoneyTransfer #MoneyGram #MastercardMove #CrossBorderPayments #DigitalFinance #FinancialInclusion #GlobalPayments #FintechCollaboration
Chpter launches Pluto to streamline social commerce on WhatsApp in Kenya.
Chpter, a Kenyan social commerce startup, has launched Pluto—a new WhatsApp API suite designed to help businesses automate customer service and enable in-app payments. Now operating as a wholly owned subsidiary, Pluto is led by Andrew Bosson, formerly Chpter’s chief growth officer, who now serves as CEO and co-founder.
Pluto seeks to tackle high cart abandonment rates by keeping shoppers within the WhatsApp environment during the entire purchase journey. The product emerged after Chpter’s partnership with Meta prompted a surge in demand for custom chat-based experiences. Businesses using Pluto can now manage browsing, transactions, and customer engagement on a single platform.
Clients like NCBA Bank, Britam, Safarilink, and the Kenyan Government are already onboard. Pluto operates on a SaaS pricing model, charging between $50 and $550 monthly based on business size, and also earns from usage-based interaction and messaging fees.
#SocialCommerce #Fintech #WhatsAppAPI #KenyaStartups #Chpter #PlutoTech #DigitalPayments #SaaS #MetaPartner #AfricanTech
𝐊𝐞𝐧𝐲𝐚 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐅𝐫𝐚𝐮𝐝 𝐑𝐞𝐩𝐨𝐫𝐭.
As mobile money transforms lives across Kenya, our collective responsibility is to safeguard the trust that millions place in fintech solutions every day. The fintech revolution has transformed Kenya's economy, but it has also attracted sophisticated fraudsters. Our latest report reveals alarming statistics:
💸 Over KSh 500M lost to SIM swap fraud in 2023 alone
🕸️ Millions of sensitive records leaked on the dark web
🎭 Social engineering remains the #1 attack vector
But there's hope. Through industry collaboration, regulatory vigilance, and technological innovation, Kenya's fintech sector is fighting back with advanced fraud prevention strategies.
This comprehensive preview examines prevalent fraud tactics, regulatory developments, and cutting-edge prevention strategies from leading industry players.
Read it here: https://www.linkedin.com/feed/update/urn:li:activity:7313397678099382272
🔒 The full premium edition will include exclusive interviews, case studies, compliance guidance, and strategic insights for fintech professionals.
Interested in fraud prevention or digital security? Partner with us on the final edition - reach us at pr@fintechassociation.africa
CoreWeave appoints Meg Whitman to board amid $11.9B AI expansion.
CoreWeave, a leading GPU cloud provider, has appointed Meg Whitman to its board of directors as the company scales rapidly amid booming demand for AI infrastructure. The appointment comes as CoreWeave finalizes its acquisition of AI tooling startup Weights & Biases and advances a strategic agreement with OpenAI worth up to $11.9 billion.
Whitman brings decades of leadership experience, having served as CEO of eBay and Hewlett-Packard, and most recently as U.S. ambassador to Kenya. Her expertise in scaling global tech operations will support CoreWeave’s ambitions to dominate the high-performance cloud computing space.
This move reflects a growing trend of experienced tech leaders steering AI infrastructure firms as competition for computing power intensifies globally.
#CoreWeave #AIinfrastructure #MegWhitman #CloudComputing #OpenAI #GPUCloud #TechLeadership #AIgrowth #StartupBoardAppointments #TechPolicy #WeightsAndBiases
Kenya’s AI strategy under fire for excluding robotics sector.
The Robotics Society of Kenya (RSK) has criticized the Kenya National Artificial Intelligence Strategy 2025–2030 for failing to include robotics, despite its growing relevance in sectors like healthcare, education, agriculture, and manufacturing. The group says excluding robotics from the Ksh.152 billion strategy ignores global trends and undermines Kenya’s technological aspirations.
RSK argues that key institutions, including the Ministry of Health and the Teachers Service Commission, were sidelined during the policy’s formation. They warn that drafting a separate robotics strategy later would waste public funds and call on Parliament to ensure a more inclusive approach moving forward.
The Society now urges Kenya to adopt a unified AI and robotics policy to avoid missed economic opportunities and better prepare youth for the digital future.
#AIstrategy #Kenya #Robotics #DigitalTransformation #EdTech #STEM #AIpolicy #FutureOfWork #TechInclusion #KEGov #RSK
Jiji expands beyond Africa, targets Bangladesh’s booming e-commerce sector.
Jiji, the Nigerian-founded digital marketplace operating in seven African countries, has made a strategic leap beyond the continent by soft-launching in Bangladesh. With over 131 million internet users and a projected $13 billion e-commerce market by 2027, Bangladesh presents fertile ground for expansion, particularly with rising digital payment adoption and a growing middle class.
The company has already registered a local subsidiary and plans to invest millions to secure a share of the market. Jiji’s approach in Africa—offering free listings, forging telco partnerships, and pre-installing its app on smartphones—will now guide its Bangladesh playbook as it seeks to replicate its success against local giants like Daraz and Bikroy.
This marks a bold diversification strategy as Jiji aims to become a global classifieds leader while leveraging Africa-tested models in new high-growth markets.
#Ecommerce #Jiji #DigitalExpansion #Bangladesh #AfricaTech #MarketEntry #OnlineMarketplace #StartupStrategy #EmergingMarkets #CrossBorderTech #DigitalPayments
US downplays Aussom funding as Somalia’s peace mission faces $150M shortfall.
The African Union Support and Stabilisation Mission in Somalia (Aussom) is grappling with a major funding deficit of nearly $150 million, just months after replacing its predecessor mission in January 2025. As the hybrid mission nears the midpoint of its transitional phase, the United States has declined to commit financial support, citing a greater focus on countering ISIS-Somalia’s global financing and recruitment networks.
While the European Union and its member states await a UN Security Council decision by May 15 on funding Aussom through a hybrid model—combining 75% UN-assessed contributions and 25% voluntary support—the US is urging the African Union and UN to resolve funding independently. The EU has signalled readiness to contribute within this framework, noting its €4.3 billion historic investment in Somalia’s peace efforts.
The African Union Commission Chairperson, Mahmoud Ali Youssouf, is rallying support from major donors including the EU, US, and UK to secure the mission’s future. However, with no confirmed commitments and growing concern over a resurgent Shabaab and ISIS threat, the mission’s long-term viability remains uncertain.
#Somalia #Aussom #Peacekeeping #AfricanUnion #USforeignpolicy #EUSupport #HornOfAfrica #Counterterrorism #SecurityPolicy #FundingCrisis #ISISSomalia #Shabaab #UNSecurityCouncil
AfDB-backed Senegal and Rwanda deals win top honours at Africa capital markets awards.
Two landmark financial deals backed by the African Development Bank Group (AfDB) were awarded top distinctions at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards in Cape Town. Senegal’s $500 million sustainable term loan was named Sovereign Syndicated Loan Deal of the Year, while Rwanda’s €200 million ESG loan won ESG Loan Deal of the Year. Both transactions were enabled through AfDB partial credit guarantees, marking new milestones in African sovereign access to international sustainable finance markets.
Senegal’s debut sustainable loan, partially denominated in CFA francs, mobilized diverse investor interest to finance climate-resilient infrastructure, clean energy, and social development. Similarly, Rwanda's deal supports its National Strategy for Transformation, focusing on green urbanisation, inclusive health and education projects, and environmental sustainability.
The recognition highlights AfDB’s growing role in de-risking African sovereign financing, while enhancing member countries’ access to long-term global capital for sustainable and socially transformative development. AfDB officials hailed the awards as a testament to the continent’s rising profile in global ESG investment circles.
#AfDB #SustainableFinance #ESG #Senegal #Rwanda #CapitalMarkets #GreenFinance #InfrastructureDevelopment #AfricanEconomies #ClimateFinance #BondsLoansAfrica #PartialCreditGuarantee #InclusiveDevelopment
Microsoft employee disrupts AI CEO speech to protest tech's role in Gaza conflict.
A Microsoft software engineer, Ibtihal Aboussad, interrupted the company’s 50th anniversary celebration to protest the company’s alleged role in enabling human rights abuses in Gaza. Directing her message at Mustafa Suleyman, Microsoft’s AI CEO, Aboussad accused the company of “powering genocide” through its AI and cloud services used by the Israeli military. The protest reflects rising internal dissent amid global scrutiny of corporate involvement in armed conflicts.
Aboussad followed her public outburst by emailing thousands of employees, alleging that Microsoft’s Azure cloud platform and AI tools are being used to support Israeli military operations through surveillance and targeting infrastructure. Citing a $133 million contract with Israel’s Ministry of Defense, she claimed that AI tools developed within Microsoft were being weaponized, with data from Palestinian communications cross-referenced to enable deadly strikes.
Her protest has reignited internal ethical concerns around Microsoft's role in defense contracts and broader implications of AI usage in war. Employee activism in tech firms continues to pressure companies to reassess military engagements, raising difficult questions around ethical AI deployment and corporate accountability.
#Microsoft #AIethics #TechActivism #Gaza #HumanRights #Azure #EmployeeProtest #AIresponsibility #SurveillanceTech #CorporateAccountability
PwC exits Francophone Africa amid global strategy shift and shrinking advisory demand.
PricewaterhouseCoopers (PwC) has withdrawn from nine Francophone African markets, including Côte d’Ivoire, Senegal, and Cameroon, following a strategic review aimed at reshaping its African presence. The firm announced on March 31 that its operations in sub-Saharan Francophone countries will no longer be part of the PwC network, though service continuity will be maintained through other offices across the continent.
This move aligns with broader restructuring trends among Big Four accounting firms, which are grappling with reduced demand for consultancy services post-COVID. As firms tighten budgets amid economic uncertainty and inflation, advisory spending is being deprioritized, pushing firms like PwC and Deloitte to streamline operations and reduce headcount globally.
PwC’s exit underscores a larger realignment as global firms adapt to shifting client expectations. While Africa remains a strategic market, professional services firms are recalibrating their regional footprints and operational models to maintain efficiency and profitability under challenging market conditions.
#PwC #FrancophoneAfrica #ProfessionalServices #BigFour #AdvisoryServices #AfricaBusiness #CorporateRestructuring #ConsultingTrends #EconomicUncertainty #Deloitte #EY #KPMG
Startup Funding in Africa and the Middle East — Week 14, 2025.
Investor confidence in innovation continues to surge across Israel and Africa despite geopolitical tensions and economic pressures. Israeli tech firms raised a reported $10.6 billion in 2024, with total investment estimates reaching $12.2 billion. Climate food-tech startup Brevel secured over $5 million in a Seed round extension, while water-tech firm LeakZon raised $5 million in Series A funding to address regional water management challenges.
In Africa, tech-driven startups are also attracting significant capital in Q2 2025. Côte d'Ivoire's Djamo raised $17 million to expand its neobank services across Francophone Africa. Egypt's semiconductor firm InfiniLink secured $10 million from MediaTek and others to drive AI chip innovation. In Tanzania, FMCG distributor Sumet closed a $1.5 million pre-seed round to optimize local supply chains.
South Africa’s NOSIBLE raised $1 million for its AI solutions, and fintech Trade Shield secured $820,000 to combat financial fraud. These investments signal growing investor appetite for high-impact technologies in emerging markets, with startups poised to lead transformation across sectors like finance, climate, and AI.
#TechFunding #IsraelStartups #AfricaTech #AIInnovation #FintechAfrica #ClimateTech #StartupInvestment #Djamo #InfiniLink #NOSIBLE #TradeShield #Brevel #VCTrends #MiddleEastAfricaTech #Semiconductors #Neobanks
🌱 𝐂𝐀𝐋𝐋𝐈𝐍𝐆 𝐀𝐋𝐋 𝐀𝐆𝐑𝐈𝐓𝐄𝐂𝐇 𝐈𝐍𝐍𝐎𝐕𝐀𝐓𝐎𝐑𝐒! 𝐉𝐮𝐬𝐭 𝟏𝟓 𝐝𝐚𝐲𝐬 𝐥𝐞𝐟𝐭 𝐭𝐨 𝐬𝐡𝐨𝐰𝐜𝐚𝐬𝐞 𝐲𝐨𝐮𝐫 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐚𝐭 𝐀𝐟𝐫𝐢𝐜𝐚'𝐬 𝐩𝐫𝐞𝐦𝐢𝐞𝐫 𝐟𝐢𝐧𝐭𝐞𝐜𝐡 𝐬𝐮𝐦𝐦𝐢𝐭 🌱
Are you revolutionizing how farmers access finance across Africa? We want YOU at FINAS 2025!
FINAS and the Fintech Association of Kenya are scouting for game-changers who are solving real problems:
✅ Bringing financial services to the last agricultural mile
✅ Reimagining value chain financing
✅ Developing climate-smart financial products
✅ Leveraging data for better agricultural lending
✅ Creating solutions specifically for women and youth in agriculture
𝐖𝐡𝐲 𝐚𝐩𝐩𝐥𝐲?
👉 Premium showcase space at FINAS 2025 in Nairobi (May 20-22)
👉Direct access to investors hungry for agricultural innovation
👉Featured in the "African Agricultural Finance Innovation Compendium"
👉Automatic nomination for FINAS 2025 Awards
👉Post-event scaling support from major development partners
Don't just build in silence – your innovation could be the missing link Africa's agricultural sector needs right now.
Deadline: April 15, 2025
Submit here: https://form.typeform.com/to/vn0P9uNk?typeform-source=lnkd.in
𝑾𝒆 𝒉𝒐𝒑𝒆 𝒚𝒐𝒖 𝒇𝒐𝒖𝒏𝒅 𝒗𝒂𝒍𝒖𝒆 😊 𝒊𝒏 𝒕𝒉𝒊𝒔 𝒘𝒆𝒆𝒌'𝒔 𝒏𝒆𝒘𝒔𝒍𝒆𝒕𝒕𝒆𝒓. 𝑰𝒇 𝒚𝒐𝒖 𝒅𝒊𝒅, 𝒘𝒉𝒚 𝒏𝒐𝒕 𝒔𝒉𝒂𝒓𝒆 𝒊𝒕 𝒘𝒊𝒕𝒉 𝒚𝒐𝒖𝒓 𝒏𝒆𝒕𝒘𝒐𝒓𝒌 📢? 𝒀𝒐𝒖𝒓 𝒔𝒖𝒑𝒑𝒐𝒓𝒕 🙏 𝒉𝒆𝒍𝒑𝒔 𝒖𝒔 𝒓𝒆𝒂𝒄𝒉 𝒎𝒐𝒓𝒆 𝒓𝒆𝒂𝒅𝒆𝒓𝒔. 𝑨𝒉𝒔𝒂𝒏𝒕𝒆 𝒇𝒐𝒓 𝒚𝒐𝒖𝒓 𝒄𝒐𝒏𝒕𝒊𝒏𝒖𝒆𝒅 𝒓𝒆𝒂𝒅𝒆𝒓𝒔𝒉𝒊𝒑 🙌. 𝑾𝒆 𝒍𝒐𝒐𝒌 𝒇𝒐𝒓𝒘𝒂𝒓𝒅 𝒕𝒐 𝒃𝒓𝒊𝒏𝒈𝒊𝒏𝒈 𝒚𝒐𝒖 𝒎𝒐𝒓𝒆 𝒊𝒏𝒔𝒊𝒈𝒉𝒕𝒔 🔍 𝒏𝒆𝒙𝒕 𝒘𝒆𝒆𝒌.
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Reach out to us at pr@fintechassociation.africa and get featured in our vibrant community.
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𝐏𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐰𝐞𝐞𝐤𝐥𝐲 - 54,010++💙𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞𝐫𝐬