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Inside Interswitch's Plan for Nigeria's Fuel Retail Industry
Fuel stations process thousands of transactions every day, yet many still operate with systems that belong to an earlier era. Payments may be digital, but inventory records, reconciliations and operational reporting are often handled separately. For station owners, that can mean spending hours matching transactions to stock levels and sales records. Interswitch believes there is
MTN Seeks Licences to Become a Direct Lender
Africa's biggest telecom operator is preparing to take a more direct role in lending as it pursues fintech licences that would allow it to issue loans from its own books. MTN already plays a part in the credit market through partnerships with banks and other lenders. More than a million customers access loans through its
Breaking News Today – Thursday 11 June 2026
African Start-up News Headlines: Business News Today South African Rand Under Pressure The South African rand hovered around 16.5 per USD, near the lowest since mid-May, pressured by falling prices of key precious metals, particularly gold and PGMs. Markets turned cautious as Middle East tensions flared again with US–Iran strikes, while President Trump’s remarks unsettled a
The Birth of Battery and Magnet Manufacturing in Southern Africa
Southern African states and are shifting from pure raw material mining and supply and taking their first meaningful steps toward becoming players in the global electric vehicle (EV) batteries and magnet value chain. For decades, the region has been a major exporter of raw critical minerals such as manganese, lithium, vanadium, and others, and simultaneously
Amazon Chooses Kenya for First African Project Kuiper Ground Station
Amazon has selected Kenya as the location for its first Project Kuiper satellite Internet ground station in Africa, strengthening the country's position in the continent's digital infrastructure sector and advancing the company's plans to expand satellite broadband services. The announcement, made on 8 June 2026, The move adds to Amazon's growing presence across Africa, where
Asure Resources to Open Mpumalanga Coal Mine After Eight Years of Inactivity
Asure Resources plans to officially open Asure Colliery in Kriel, Mpumalanga, on 17 June 2026. The colliery, previously known as Fentonia Colliery, has been inactive since 2018. Its reopening returns the mine to production and restores economic activity at the site. Asure Resources launched the project to bring the mine back into production after years
No Free Lunch Podcast – How WhatsApp Is Transforming Customer Engagement for Businesses in Africa
Messaging apps are rapidly reshaping how businesses connect with their customers. If you're a business owner or leader looking to stay competitive, understanding the significance of WhatsApp in customer engagement is crucial. From real-time communication to seamless integration with business operations, WhatsApp offers a host of opportunities that can boost efficiency, customer satisfaction, and revenue.
Impact Measurement and Proving Social Value to Investors
Investors have always cared about return, but today they also care about impact. For social enterprises, ESG-focused companies, and nonprofits with earned revenue models, the ability to prove social value is now part of raising and retaining capital. The problem is that financial performance follows established accounting standards, while social value is harder to define
TIA Secures R1.2 Billion Settlement From Kapa Biosystems Dispute
The Technology Innovation Agency (TIA) has received R1.2 billion from a settlement linked to the sale of biotechnology company Kapa Biosystems. The payment ends a dispute that lasted more than a decade. The settlement relates to TIA's sale of its 49% stake in Kapa in 2015 for US$4.9 million. Eight months later, Kapa's shareholders sold
Breaking News Today – Wednesday 10 June 2026
African Start-up News Headlines: Business News Today Brent Oil Prices Turbulent After Helicopter Attack Brent oil futures lifted above $92 per barrel this morning, reversing losses yesterday that saw prices fall below $90 at one point. The price jumped after the US launched new strikes against Iran following an Iranian attack on an American helicopter,
Kenyan Startup Terrafy Named MassChallenge Switzerland 2026 Finalist
Kenyan startup Terrafy has been selected as a finalist in the MassChallenge Switzerland 2026 Accelerator, providing the company with an opportunity to expand its partnerships, strengthen its technology platform, and connect with global investors. Based in Nairobi, Terrafy is developing land intelligence infrastructure designed to address one of Africa's longstanding challenges: the lack of reliable
CreditChek Lands $600,000 for East Africa Push
Lending in Africa has become easier. Deciding who should receive a loan remains much harder. Nigerian startup CreditChek wants to address that challenge. The company is preparing to expand into East Africa after raising $600,000 in a funding round led by Janngo Capital. CreditChek provides credit intelligence and income verification tools to lenders. It will
South Africa’s Stalled Economy: A Long-Term Crisis Demands Urgent Accountability
Today’s release of South Africa’s Q1 gross domestic product (GDP) figures came out slightly higher than expected with a growth of 0,5% in the first quarter of 2026, following an increase of 0,4% in the fourth quarter of 2025. The growth was primarily driven by a large upswing in the agriculture, forestry and fishing industry,
Ecobank to Coordinate US$200 Million Financing for Sentuo Oil Refinery Expansion
Ecobank Ghana has been appointed to coordinate a US$200 million financing package for the next phase of expansion at Sentuo Oil Refinery, a project that will more than double the facility's processing capacity and introduce petrochemical production. The agreement was formalised through a memorandum of understanding signed in Accra, with Ecobank tasked with assembling a
Breaking News Today – Tuesday 9 June 2026
African Start-up News Headlines: Business News Today IMF Approves $250 Credit Facility for Rwanda on Positive Growth The International Monetary Fund on Monday said its executive board approved Rwanda's request for a new $250 million, 38-month extended credit facility to help it deal with tighter global financial conditions, while protecting social and development spending. The
3IF Ventures Raises US$12 Million to Support African Insurtech Startups
Impact venture capital firm 3IF Ventures has reached a US$12 million first close of its Inclusive Insurance Investment Fund, a dedicated investment vehicle focused on backing insurtech startups across Africa. The fund is anchored by FSD Africa Investments (FSDAi) and pan-African reinsurer ZEP-RE and is targeting a final close of US$30 million. Investments will range
West Africa Lines Up $1.54 Billion for Rice Production Drive
West African governments and investors have pledged $1.54 billion to boost rice production across the region. Imported rice still accounts for a large share of food sales in many West African countries. The commitments emerged from a rice investment roundtable in Accra, Ghana. The event brought together officials from ECOWAS member states, development finance institutions
Cascador Deploys Over US$5 Million to Seven African Startups
Cascador, a platform that supports African entrepreneurs building businesses with a social impact focus, has deployed more than US$5 million in growth capital to seven startups during its second annual Pitch Day. The funding initiative builds on Cascador's Catalytic Fund, a US$2 million annual programme launched last year to provide tailored financing to companies that
Cybersecurity Best Practices for Emerging African Tech Firms
African tech has been on a run. Over the last decade, startups have evolved from side projects into businesses handling real money and large amounts of sensitive customer data. Payments, health records, school fees, farm logistics, and e-commerce transactions now move through digital platforms every day. As businesses collect more information and rely on more
AfricInvest Begins Exit From Centaures
AfricInvest is beginning to cash out of Centaures, the Ivorian logistics and transport group it backed in 2018. The private equity investor said it has reached an agreement with the Delsuc family, which founded the business, and expects to complete its exit from SIPO Holding, Centaures' parent company, by the end of 2026. The investment