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Egyptian proptech startup Byit announced last week its expansion into the United Arab Emirates. Its AI-powered platform helps independent brokers match homebuyers with available properties. The expansion aims to connect Egyptian developers with Gulf investors. The company, which says it already has 40,000 brokers on its platform, is also planning to launch in Saudi Arabia soon.
Fintech company M-KOPA said on Wednesday it had extended more than 1.2 billion cedis (about $82 million) in credit to over 550,000 customers since launching operations in Ghana in 2021. Using a flexible daily payment model, the company enables low-income users to acquire smartphones and access the internet. For the first time, the devices also include health insurance. M-KOPA said the initiative has helped more than half of beneficiaries increase their income and improve their quality of life.
Facebook parent Meta is laying off about 8,000 employees worldwide as it shifts its focus to artificial intelligence (AI), with engineers bearing the brunt of the cuts. At the same time, the company is reassigning 7,000 employees to teams working on next-generation technologies. Chief Executive Mark Zuckerberg has made AI the company’s top priority, even at the cost of reducing headcount to fund digital infrastructure.
Egyptian startup ARRW has raised $4 million to expand its ride-hailing platform. The company, the first local app to secure an official licence, plans to use the funding to recruit drivers and strengthen its technology. ARRW is positioning itself against global competitors with a safer service tailored to local users.
Electric motorcycle leasing startup Spiro is expanding its vehicles and battery-swapping stations in Rwanda and Cameroon. Already operating in seven African countries, the company aims to replace fossil fuels with cleaner energy solutions. In Rwanda, it is also partnering with a local organization to train and finance women, helping them enter the fast-growing sustainable mobility sector.
Digital Africa, a French-backed initiative, is launching a $57 million fund to support African tech startups in 20 underserved markets often overshadowed by hubs such as Nigeria and Kenya. The fund will focus on early-stage ventures in healthcare, artificial intelligence and climate-related technologies.
Global tech conference Web Summit will hold its first African edition in Cape Verde this December, marking a milestone for the island nation’s growing digital ambitions. Organizers said the country was chosen for its investments in the digital sector and its strategic geographic position. The event is expected to bring together African entrepreneurs, investors and global tech players to strengthen innovation across the continent.
On Wednesday, May 13, JuiceMe announced the acquisition of Ajiraworks as part of its expansion in Africa. Ajiraworks founder Catherine Ochako will join JuiceMe’s leadership team to lead the initiative. The deal will allow international companies to hire, pay and manage local employees across Africa while complying with local regulations. By integrating Ajiraworks’ systems, JuiceMe aims to position itself as a partner for companies seeking to quickly expand on the continent.
Fintech company Happy Pay announced on Wednesday, May 13, a partnership with Ozow to offer buy-now-pay-later services to South African merchants. Under the agreement, shoppers will be able to pay for purchases in monthly installments, with no upfront payment or interest charges. The solution integrates into e-commerce platforms, helping retailers attract new customers while giving consumers access to a flexible and secure payment option at no extra cost.
On Monday, May 11th, Eswatini's Ministry of Technology launched the "Startup World Cup" initiative to drive innovation. The program gives young local entrepreneurs a pathway to turn their ideas into real businesses and connect with global investors. The kingdom is looking to create jobs and make its mark on the world stage, with winners even getting a shot at competing in Silicon Valley.
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Sales app Bumpa and financial platform Vendorcredit have partnered to launch “Bumpa Capital,” a financing solution designed to support Nigerian merchants. The service uses merchants’ sales data to speed up access to loans, reducing the administrative hurdles associated with traditional bank financing. Through the partnership, thousands of small and medium-sized businesses will gain access to more flexible growth financing directly through the platform they already use to manage daily operations.
The SIA Startup Foundry accelerator program announced its latest cohort last week. Fifty-six early-stage startups from Nigeria, Ghana and Ethiopia will take part in an intensive month-long boot camp aimed at refining their business models. At the end of the program, ten finalists will be selected, with six receiving funding. The initiative seeks to help entrepreneurs turn tech ideas into viable businesses at a time when access to capital remains a major challenge.
The cryptocurrency payment platform Breet is launching a $10,000 equity-free grant for African digital finance teams. The initiative targets established projects in payments, stablecoins, and banking infrastructure. Finalists will pitch their solutions at the Africa Technology Expo 2026 before an audience of investors, regulators, and industry leaders.
In Nigeria, fintech giant Flutterwave and the Activate Success International Foundation announced a partnership on Wednesday, April 29, to support more than 30,000 young entrepreneurs. The initiative will provide payment tools and targeted training to help business owners run their operations and accept international payments. As of 2025, more than 50 million naira has already been disbursed to fund projects and support startup creation.