Moniepoint has received regulatory approval to acquire a 78% stake in Kenya’s Sumac Microfinance Bank, marking a strategic expansion into East Africa’s financial sector. The deal awaits final clearance from the Central Bank of Kenya.
BUA Group has committed over $65 million to reconstruct Terminal B of the Rivers Port Complex without any public funds. The project, approved in 2022 and awarded to Italian firm TREVI, is expected to be completed in the first quarter of 2026. The company says the terminal is vital to its industrial operations.
Against global economic headwinds, Nigerian startups defied the odds, securing over $100 million in Q1 2025. Fintech led the charge, but clean energy and agritech also saw major wins. Here's a breakdown of the top 10 deals and what they signal for the startup ecosystem.
Arnergy, a Nigerian company known for its distributed renewable energy solutions, has raised $18 million to scale its solar energy systems across Africa.
Kano State has entered a strategic partnership with Moroccan firms to attract over $10 billion in investments across renewable energy, solid minerals, and agriculture. The deal includes plans for solar energy generation, fertilizer plants, and support for smallholder farmers, following a high-level investment mission led by Governor Abba Kabir Yusuf.
Google for Startups Accelerator Africa is now open! This AI-focused program offers equity-free support, expert mentorship, and Google Cloud credits to help African startups scale.
At a private investor forum hosted by the CBN in New York, foreign investors praised Nigeria’s reform progress but raised concerns over oil dependence and regulatory costs.
Visa has backed Tunisian startup Konnect and Morocco’s PayTic after both completed its Africa Fintech Accelerator. The move strengthens Visa’s push to support digital innovation and expand financial inclusion across the continent.
Solape Akinpelu, founder of Nigerian fintech platform HerVest, has won the 2025 Aurora Tech Award, securing $30,000 in funding and global recognition for her work empowering African women through financial inclusion.
AI startups building practical applications on large language models are seeing explosive growth, drawing billions in investment and transforming how businesses and consumers interact with technology. From coding tools to AI-powered search engines, these agile companies are scaling faster than any previous tech wave.