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Mr Eazi’s Choplife moves operations to Itana
Mr Eazi’s Choplife has moved its operations into Itana, Nigeria’s digital special economic zone, giving the company a central base as it continues to do business across Africa. Choplife was founded by Nigerian musician Oluwatosin Ajibade, better known as Mr Eazi. What started around music has grown into a business covering entertainment, media, technology, gaming
Mozambique cuts banks’ FX position limit from 20% to 2%
The Bank of Mozambique has cut the amount of foreign currency commercial banks can hold in excess of their foreign currency liabilities. The overall limit for long foreign exchange positions has fallen from 20% to 2% of a bank’s own funds. For a single foreign currency, the limit has dropped from 10% to 1%. The
Naran raises $10m to expand vehicle financing across Africa
For someone working as a ride-hailing or delivery driver, getting access to a car or motorcycle is often the first problem to solve. Naran is building its business around that problem. The mobility finance startup has raised $10 million in debt and equity financing from Landel as it looks to finance more vehicles and expand
TurnStay processes $61.5m in travel payments in six months
South African travel fintech TurnStay processed more than $61.5 million in payments during the first six months of 2026, according to the company. TurnStay helps travel businesses collect payments from international customers. Its customers include hotels, lodges and tour operators that often have to deal with different currencies and payment methods.The latest figure is notable
Standard Bank wants a bigger share of Africa’s digital payments
Standard Bank is looking to make more money from the payments moving through its African operations. Its latest results show why the bank sees room to grow. Domestic payment values increased by 11% in the first half of 2026. Cross border payment values rose by 7%. Standard Bank accounted for 30% of South Africa's cross-border
Nigeria opens regulatory sandbox to crypto and stablecoin businesses
Nigeria is giving crypto and stablecoin companies a way to test their businesses under regulatory supervision. The Securities and Exchange Commission (SEC) is using its Accelerated Regulatory Incubation Programme (ARIP) for this purpose. The programme allows virtual asset businesses to operate in a controlled environment. The SEC can then assess their products and business models.
MTN expects profits to fall by up to 30% as Iran investment takes a hit
MTN Group expects its first half earnings to fall from last year, with its Iranian investment accounting for much of the decline. The group expects earnings per share for the six months to 30 June 2026 to come in between 377 cents and 431 cents. That would put earnings 20% to 30% below the 539
Spiro and Davido launch new electric motorcycles
Spiro has launched two electric motorcycles with Nigerian musician Davido as the company looks to grow its electric mobility business across Africa. The two models are the Davido Collectible and the Alpha+ by Davido. Spiro unveiled them at the Africa CEO Forum, where it also announced Davido as a brand ambassador and strategic partner. The
Africa Business Registration: How startups and SMEs can register a business in Mauritius
Starting a business in Mauritius does not require entrepreneurs to spend days moving between government offices. Company and business registration is handled by the Corporate and Business Registration Department (CBRD), with applications available through its online Companies and Businesses Registration Integrated System (CBRIS). The process is fairly quick, although registering the business is only one
Moove’s $250m funding round puts autonomous vehicles in focus
Moove has raised $250 million in a Series C funding round led by Abu Dhabi’s Mubadala, putting the mobility startup’s valuation at $2.1 billion. The company started in Lagos in 2020 with a simple model. Moove financed cars for ride-hailing drivers, who used their earnings from platforms such as Uber to repay the vehicles. Six
Weekly AI Tools: How Cursor Is Helping Startups and SMEs With Software Development
For a small software team, there is usually no shortage of work. Developers have to build new features, fix bugs, review code and keep existing applications running. When there are only a few people handling all of that, even simple development tasks can take up a large part of the week. Cursor is one of
HSBC helps arrange $1.36 billion for Angola’s Luena–Saurimo railway
Angola is working with HSBC to arrange up to $1.36 billion in financing for the Luena–Saurimo railway, a 260 kilometre line that will connect parts of eastern Angola to the country’s existing rail network. HSBC will act as the agent and coordinating arranger for the financing. Export credit agencies will also take part in the
Nigeria Pushes for More Cloud Workloads to Be Hosted Locally
About 85% of Nigerian workloads now run on public cloud services, but most of the infrastructure supporting them sits outside the country. Kashifu Inuwa, director general of the National Information Technology Development Agency (NITDA), says Nigeria needs to increase its local cloud capacity. Only 22% of the country's 1,000 most accessed websites are hosted locally.
African Bank joins GEC+Africa 2026 as official partner
African Bank has joined the Global Entrepreneurship Congress Africa (GEC+Africa) as an official partner ahead of the event in Cape Town in September. GEC+Africa will take place on 16 and 17 September at the Cape Town International Convention Centre (CTICC). Organisers expect more than 2,000 delegates from over 43 African countries. The event will bring
Naira-backed cNGN launches on Celo for cross-border payments
Naira-backed stablecoin cNGN has launched on the Celo blockchain, giving Nigerian fintechs and payment companies another option for cross border transactions. WrappedCBDC, a Nigerian company, issues cNGN and has been working with regulators on its digital asset offering. The launch allows users to swap cNGN for dollar-backed stablecoins such as Tether’s USDT through Textile FX,
500 Meters launches R250 plan to build 20,000 community-owned spaza shops
A new initiative wants South Africans to put R250 each towards building community owned spaza shops across the country. The OWN SPAZA SHOP initiative was shared by entrepreneur Nthabeleng Likotsi on Instagram, with a target of raising R500 million. The plan is to use the money to establish 20,000 spaza shops and create more than
SafeSip Uses Smart Water Stations to Tackle Rural Water Supply in Tanzania
Water projects across Africa often struggle long after construction is complete. Equipment breaks down, maintenance budgets disappear and communities return to unsafe water sources. Tanzanian startup SafeSip is trying a different model. The company has built a network of solar-powered water stations that sell treated drinking water while generating enough income to pay for maintenance
How Automation Is Changing Sales for African SMEs and Startups
Sales teams around Africa are finding it harder to keep up with growing numbers of customer enquiries. Businesses are selling through websites, social media, WhatsApp and online marketplaces, creating more leads than many sales teams can comfortably manage using spreadsheets or manual follow ups. That is one reason more companies are introducing automation into their
ASUS Opens Flagship Store in Nigeria with Konga
ASUS has opened a flagship store in Lagos through a partnership with Konga. The new outlet gives the technology company a dedicated retail presence in Nigeria. Located in Computer Village, Ikeja, the store stocks ASUS laptops, gaming devices, creator laptops and other computing products. ASUS says it is the company's first flagship store in Africa.The
How Digital Payment Data Is Changing Access to Finance for African Startups
The majority of African startups and small businesses, getting a bank loan has often depended on having financial records that many young businesses simply do not have. Banks have traditionally relied on payslips, bank statements and credit histories when assessing loan applications. While those remain part of the process, they do not always reflect how