To democratize access to long-term investments for young South Africans, two tech entrepreneurs have launched a fintech solution.
Fynbos Money is a fintech solution designed to simplify and make long-term investing more attractive in South Africa. Launched in 2024 by Matthew de Haast and Adrian Hope-Bailie, the platform offers an intuitive web-based interface that eliminates financial jargon and advisor fees.
“The platform is designed to make investing easy to understand by distilling the basics of long term wealth building into a platform that does it all for you without charging a share of your investment as a fee,” explains Adrian Hope-Bailie. “Instead we are trying to disrupt the way financial service providers structure their fees by only charging a flat subscription fee.”
Fynbos Money offers a free emergency account with low-risk savings that deliver an “attractive” annual return, as well as a savings account that allows users to choose from five equity funds to maximize long-term investment growth, all without capital gains tax. Unlike traditional platforms that charge fees based on the amount invested, Fynbos Money operates on a two-tier model: a free “Roots” plan and a paid “Protea” plan.
The “Roots” plan provides access to both types of accounts without requiring a subscription, enabling users to start investing with no upfront costs. The “Protea” plan, on the other hand, is a fixed monthly subscription that unlocks additional features, such as family accounts and dedicated savings options.
“We started with a friends and family pilot in October and have been growing steadily from there. We’re just over 2,000 users now and are seeing great growth week-on-week,” adds Adrian Hope-Bailie.
By Adoni Conrad Quenum,
Editing by Feriol Bewa
The country is steadily moving toward a cashless economy. In recent months, authorities have approved the interoperability of bank cards, followed by that of point-of-sale terminals.
Sierra Leone launched its instant payment service on Thursday, enabling real-time transfers between mobile operators, banks, and mobile money and bank accounts. Currently, seven banks and two mobile money service providers are connected to the system, with full integration deadline set for April 1st for all players.
"Today I have a system that is connected to the banks directly, with interoperability, I am going to shut that system down, that is one more cost removed. When our cost of business is reduced that means we can be able to translate it and give the customer a better service," explained Martison Obeng-Agyei, Managing Director of Afrimoney Sierra Leone (Africell).
David Mansaray, CEO of Orange Money Sierra Leone (Orange), believes the initiative will facilitate access to loans and, in the long run, streamline banking operations and business transactions.
This initiative aligns with the Bank of Sierra Leone’s (BSL) vision to modernize the country’s payment system and build a cashless economy. Following the launch of the national payment switch in April 2023, the central bank successively implemented interoperability for bank cards and then for point-of-sale terminals. The next phase will focus on opening an international payment gateway, allowing Sierra Leonean-issued payment cards to be used abroad.
As of December 31, 2023, Sierra Leone had 8.2 million mobile money accounts, including 1.7 million active accounts, according to central bank data. The country also recorded 22.3 million bank accounts, although the number of individuals holding these accounts was not specified. In 2022, the BSL estimated that 29% of the adult population had an account with a financial institution or a mobile money service provider.
By Isaac K. Kassouwi,
Editing by Sèna D. B. de Sodji
In Africa, the advent of 5G is revolutionizing the telecommunications sector, delivering ultra-fast speeds, reduced latency, and enhanced connectivity. This technology paves the way for new applications in key industries, which Tunisia can now leverage to accelerate its digital transformation.
Orange Tunisia officially launched its 5G network on Friday, offering ultra-high-speed connectivity. This milestone marks a major turning point in Tunisia’s digital development and positions Orange Tunisia at the forefront of innovation in the telecommunications sector. The introduction of 5G addresses the growing demand for connectivity, benefiting both professionals and individuals while supporting the country’s digital transition.
"5G from Orange Tunisia delivers an optimized customer experience with ultra-fast download speeds, minimal latency, and increased connection capacity. With speeds three to four times faster than 4G, 5G meets the rising need for connectivity," the operator stated in a press release.
Apart from this major technological rollout, Orange Tunisia has introduced the MAXBOX 5G, a next-generation WiFi 6 router designed to provide an optimal home experience. With unmatched performance, the MAXBOX 5G includes a Turbo mode, specifically tailored for gaming and streaming enthusiasts, allowing users to fully harness 5G’s capabilities in their daily digital activities.
This initiative is also accompanied by the creation of a “5G Lab”, an innovation hub dedicated to testing 5G applications in key sectors such as Industry 4.0, healthcare, culture, and education. Open to businesses, startups, and academic institutions, this laboratory aims to foster collaborative innovation and explore how 5G can drive Tunisia’s digital transformation.
A Milestone for Tunisia’s Telecom Sector
The launch of 5G is part of a broader digital development strategy. With this deployment, Orange Tunisia becomes the fifth operator within the Orange Group to commercialize 5G in Africa and the Middle East. The network is already operational across 400 sites, covering multiple regions, and will progressively expand to reach all governorates in the country.
This launch aligns with the forecasts of the African Telecommunications Union (ATU), which, in its January 30 report titled “5G Readiness and Relevant Use Cases in Africa,” highlights 5G’s potential to transform the continent’s economy. According to the report, applications such as smart agriculture, remote healthcare, and online education could be revolutionized by 5G, significantly improving the quality of life across Africa.
The GSMA, the global association of mobile operators and manufacturers, goes even further, estimating that 5G networks could contribute $26 billion to Africa’s economy by 2030. This projection underscores 5G’s enormous potential to drive growth in key sectors and support economic development across the continent.
By Samira Njoya,
Editing by Sèna D. B. de Sodji
The Tony Elumelu Foundation (TEF) signed, on February 12, a $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to support 1,000 young African entrepreneurs with training, mentorship, networking opportunities, and non-refundable $5,000 seed capital each.
The agreement was signed at the World Governments Summit by TEF Founder, Tony O. Elumelu, and His Excellency Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation.
This initiative further reinforces TEF’s mission to empower young business leaders across all 54 African countries, strengthening Africa’s entrepreneurial ecosystem and driving economic growth on the continent.
Fintech Company Payaza has expanded to Ghana, introducing a ₵15 million ($973,000) business support initiative to help entrepreneurs, small businesses, and startups scale.
At its launch event, SME Thrive, attendees will gain networking opportunities, expert business insights, and access to funding and payment solutions designed to drive local and global growth.
Payaza aims to enhance financial accessibility and business expansion through seamless payment processing and tailored financial tools. This expansion cements Payaza’s role in boosting SME growth and strengthening Ghana’s digital economy.
Leveraging AI research and innovation can help African countries tap into this multi-trillion-dollar opportunity, driving advancements in healthcare, fintech, and smart agriculture. It is vital for enhancing digital access, creating jobs, driving innovation, and improving global competitiveness
President Tinubu engaged in strategic discussions with Google executives on Wednesday, February 12 in Paris, accompanied by Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani. The meeting focused on positioning Nigeria as a key technology and innovation hub, leveraging AI, cloud computing, and expanded digital infrastructure to boost economic growth and global competitiveness.
President Tinubu commended Google CEO Sundar Pichai for the company’s commitment to advancing Artificial Intelligence (AI) and digital transformation in Nigeria. He emphasized that this collaboration aligns with his administration’s Renewed Hope Agenda, aimed at economic diversification through industrialization, technology, and innovation. The Federal Ministry of Communications, Innovation, and Digital Economy will oversee the partnership, while the National Information Technology Development Agency (NITDA) will coordinate efforts alongside private sector stakeholders to maximize impact.
Key initiatives discussed include expanding digital infrastructure to enhance connectivity nationwide, equipping Nigeria’s workforce with essential digital skills for the future, promoting AI-driven research and innovation, encouraging cloud adoption across various industries, and strengthening Nigeria’s role in the global digital economy.
Sundar Pichai reaffirmed the company’s commitment to supporting Nigeria’s digital transformation. He stated, “Nigeria has an incredible opportunity to lead in AI and digital innovation in Africa. Google is excited to continue working with the Nigerian government to create an ecosystem that fosters innovation and economic growth.”
The partnership between Google and the Nigerian government is a significant step toward accelerating digital transformation, economic growth, and job creation in Africa’s largest economy. The World Economic Forum estimates that AI and automation will create 97 million new jobs globally by 2025. Equipping Nigerians with AI and digital skills will help bridge the digital divide and prepare the workforce for the future.
Hikmatu Bilali
In today's digital world, reliable citizen identification is essential. To ensure access to services, prevent fraud, and promote digital inclusion, we need robust systems and clear rules, all while safeguarding personal data.
Trident Digital Tech Holdings Ltd., a Singapore-based digital transformation company, said on Wednesday it signed an agreement with the Democratic Republic of Congo's Ministry of Posts, Telecommunications, and Digital Affairs to deploy a national digital identity system. The initiative aims to modernize public administration and improve citizens' access to essential services.
"The digital identity system is a fundamental pillar of our country's modernization through digital transformation," said Augustin Kibassa Maliba, Minister of Posts, Telecommunications, and Digital Affairs. "With Trident, we will be able to provide our citizens with secure and efficient access to government services while protecting their personal data through advances in blockchain technology."
The system will allow the Congolese government to digitally manage and authenticate citizens' identities, enabling individuals to securely and reliably prove their identity online or offline using unique digital credentials.
National digital identification systems typically operate on four key principles: secure authentication (allowing citizens to reliably identify themselves for public or private services), streamlined procedures (facilitating online administrative processes like tax payments), fraud prevention (reducing identity theft and fraud risks), and interoperability (ensuring the digital identity's usability across various contexts).
The system's deployment could significantly impact the Congolese population by expanding access to formal financial services like bank accounts, loans, and insurance; enabling more efficient distribution of public services, including subsidies, healthcare, and education; and providing accurate, up-to-date demographic data for economic planning and policy decisions.
Trident's statement did not detail the company's specific roles in the project, such as IT infrastructure provision, database construction, or system security expertise.
For the project to succeed, the Congolese government must address several challenges, including safeguarding personal data through an effective legal and technical framework under the digital code. Expanding internet access and digital devices, especially in rural and remote areas, is also crucial. Furthermore, educating the population on using the digital identity system will be essential to maximize its benefits.
By Samira Njoya,
Editing by Sèna D. B. de Sodji
As Africa undergoes a digital transformation, the continent is strategically positioning itself to leverage the opportunities of artificial intelligence. To this end, Morocco, Kenya, and Nigeria have partnered to launch an initiative promoting AI for the public good.
Smart Africa, an alliance of 40 African countries overseeing the continent's digital agenda, said on Wednesday it will officially launch the African Artificial Intelligence Council (AI Council) in April 2025. The announcement comes ahead of the Global AI Summit on Africa, slated for April 3-4 in Kigali, where council members will be appointed. The exact number of members has not yet been disclosed.
The AI Council will bring together policymakers, business leaders, and key players in the AI ecosystem. Its mission is to drive digital transformation, foster innovation, and develop policies aimed at accelerating Africa’s digital economy.
According to Smart Africa, the council will promote collaboration, knowledge-sharing, and innovation to position Africa as a strategic player in the global AI landscape. It will also work to ensure that AI technologies are leveraged in a way that benefits all sectors of society and supports inclusive growth.
The initiative was first announced during the High-Level Meeting on Artificial Intelligence for Africa, held in Rabat, Morocco, on February 4, 2025. Ahead of its official launch, stakeholders also met on the sidelines of the AI Action Summit in Paris from February 10-11. Further consultations are planned during the Mobile World Congress in Barcelona from March 3-6.
This initiative comes as African nations seek to capitalize on AI, a technology that could add $2.9 trillion to the continent’s economy by 2030—equivalent to a 3% increase in annual GDP, according to the GSMA. The organization highlights AI’s potential to support the Sustainable Development Goals by providing innovative solutions for more inclusive and sustainable development, particularly in critical areas.
However, GSMA also points to several challenges that must be addressed for Africa to fully harness AI’s potential. These include low mobile internet adoption, a persistent digital divide, insufficient digital skills, a lack of regulatory frameworks, limited research capacity, weak energy infrastructure, and ethical and security risks. Additionally, there is a shortage of AI solutions tailored to the continent’s specific challenges.
By Isaac K. Kassouwi,
Editing by Sèna D. B. de Sodji
AI models are primarily trained on online data, which tends to favor widely spoken languages like English. As a result, African languages are often underrepresented in AI-based solutions. This gap has prompted African tech entrepreneurs to take action and develop initiatives to integrate local languages into artificial intelligence systems.
ToumAI is a Moroccan startup specializing in customer experience (CX) optimization through AI-driven voice analytics. The company addresses gaps in current AI systems by integrating African languages and dialects, which are often overlooked in traditional language models.
"Our HolistiCX suite is pioneering a new era in customer experience, where businesses can adapt interactions to generational preferences, emotional profiles, communication channels, and cultural nuances—all while using hashtag#AI systems that are more sustainable and efficient," the company explains.
Founded in 2020 by Youcef Rahmani, Odin Demassieux, and Imade Benelallam, ToumAI works closely with telecom operators, banks, and call centers to collect and analyze voice data. This approach allows its AI to accurately process local dialects, accents, and speech patterns, making it a game-changer for emerging markets.
"In a world where AI advancement has been dominated by the US, China, and to a lesser extent Europe, we are proud to be building an important AI application layer from Africa for global markets," says co-founder Youcef Rahmani.
ToumAI has caught the attention of major tech players, earning recognition from Intel Liftoff for Startups and Nvidia Inception, accelerator programs run by U.S. semiconductor giants Intel and Nvidia.
On Monday, February 10, the startup announced it had successfully raised $1 million in funding. The investment will fuel technology development, team expansion, and market growth, solidifying ToumAI’s position as a key innovator in AI-driven customer experience for Africa and beyond.
By Adoni Conrad Quenum,
Editing by Feriol Bewa
Like many African countries, Burundi has made digital transformation a key driver of its economic and social development. However, the country struggles to finance its various projects.
Burundi is exploring partnerships with the International Finance Corporation (IFC) for digital projects. An IFC delegation met with the Burundian Executive Secretariat for Information and Communication Technologies (SETIC) on Monday to discuss the matter.
The initiative aligns with Burundi’s vision of becoming an emerging country by 2040 and a developed nation by 2060, with digital technology as a key development driver. The government aims for a "technological leap" to boost economic growth by fostering business activities within a secure legal framework leveraging ICT.
In January, the Senate unanimously ratified the East African Community (EAC) protocol on ICT networks, facilitating stronger cooperation with neighboring countries to accelerate digital sector development. In November 2024, Burundi signed a memorandum of understanding with Vietnam to deepen collaboration in this area. The World Bank launched the $92 million Digital Economy Foundations Project (PAFEN) in September 2024 to support Burundi’s digital infrastructure.
Despite these efforts, Burundi ranks 46th out of 47 African countries in the International Telecommunication Union’s (ITU) 2024 ICT Development Index, with a score of 24.4 out of 100. The country’s internet penetration rate is 19%, mobile broadband coverage is 8.3%, and mobile phone usage is 25.6%. Only 50.6% of the population has at least 3G coverage, and 32.2% has 4G. The UN Department of Economic and Social Affairs (UN DESA) classifies Burundi as having a low e-Government Development Index (EGDI) of 0.2480 out of 1, significantly below the global average of 0.6382.
Details of the SETIC-IFC discussions remain unclear. No official agreement has been signed or announced, leaving the scope and implications of the potential collaboration uncertain.
By Isaac K. Kassouwi,
Editing by Sèna D. B. de Sodji
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In a global context where digital technology is becoming a key driver of economic and social development, the Liberian government is investing to ensure high-quality Internet access for all, including more affordable costs.
The Liberia Telecommunications Authority (LTA) is modernizing the Liberia Internet Exchange Point (LIXP), the country’s sole internet exchange point. Last week, the regulator acquired $39,000 worth of new equipment for the LIXP, which it said will improve internet quality.
“The main goal of an IXP is to improve the efficiency of Internet routing by allowing for direct interconnection between networks. This can help reduce latency, decrease bandwidth costs, improve network performance, and enhance overall Internet reliability and resilience" the LTA said in a Facebook statement.
Improved internet connectivity could support the government’s “Digital Fast Track” program, which aims to accelerate Liberia’s digital transformation by improving digital infrastructure and services. The government considers digital infrastructure crucial for achieving national development goals.
The UN Department of Economic and Social Affairs (UN DESA) ranks Liberia 47th out of 54 African countries in e-government deployment, with an e-Government Development Index (EGDI) score of 0.2513 out of 1. UN DESA notes that Liberia has an average EGDI, “reflecting steady growth in digital integration despite various challenges.” The International Telecommunication Union (ITU) ranks Liberia 36th out of 47 African countries for ICT development, with a score of 37.1 out of 100.
Despite government efforts, Liberia faces significant digital infrastructure deficits beyond the internet exchange point. The country has only one fiber-optic submarine cable, which is frequently disrupted and affects internet access. According to Datacenterplatform, Liberia has only one data center. UN DESA gives Liberia a telecom infrastructure score of 0.1238 out of 1, a key component of the EGDI.
By Isaac K. Kassouwi,
Editing by Sèna D. B. de Sodji
Mobile video games are experiencing rapid growth in Africa, driven by a tech-savvy youth and widespread access to digital technologies. This dynamic sector presents a significant opportunity for innovation, entrepreneurship, and economic development across the continent.
Sonatel, a subsidiary of French telecom group Orange, and Netgem, a digital entertainment solutions provider, announced on Wednesday the launch of Wido Games, West Africa's first cloud gaming platform. The service will be available to Sonatel subscribers later this month.
"With this partnership, we are proud to launch the first Cloud Gaming service in West Africa with a simple promise: a console gaming experience on any device, powered by the strength of our network," said Malick Dary, Sonatel’s Director of Consumer Marketing.
The launch comes amid rapid expansion of digital infrastructure in West Africa, including investment in high-speed technologies, and a booming video game industry. Sonatel, which has invested nearly 263 billion CFA francs ($416 million) in network expansion, continues to seek new ways to meet the growing demand for digital entertainment.
Wido Games represents a major step forward for cloud gaming in Africa, a continent experiencing remarkable growth in mobile gaming. A February 5 study by African game publisher Carry1st and market research firm Newzoo showed Africa’s mobile gaming market reached $1.8 billion in 2024, a 12.4% increase from 2023. This growth rate significantly outpaces the global industry’s 2.1% growth in 2024.
Wido Games will allow players to enjoy console-quality gaming on their smartphones, with PC compatibility planned soon, without the need for expensive gaming equipment. Sonatel’s high-speed network, including 5G coverage, is expected to provide a smooth, lag-free experience.
By Samira Njoya,
Editing by Sèna D. B. de Sodji
The rapid expansion of digital services across Africa has led to a surge in online attacks, jeopardizing the security of individuals and businesses. Addressing these growing cyber threats requires immediate action.
Burkina Faso launched a new online platform, “Alerte-BCLCC,” on Tuesday to allow citizens to report cybercrimes and flag online content promoting terrorism. The platform, accessible at alerte.bclcc.gov.bf and available for download on Play Store (Android) and AppGallery (Huawei), was launched by the Ministry of Security through its Central Brigade for Combating Cybercrime (BCLCC).
"With this tool, our specialized forces will be able to intervene more quickly, analyze trends more effectively, and strengthen actions to combat these new forms of cybercrime," said Mahamadou Sana, Minister of Security, urging Burkinabè citizens to use the platform.
The initiative is part of the government’s efforts to strengthen national cybersecurity amid rapid digital transformation, including increased use of electronic communication services and a rise in cyberattacks. According to national authorities, cybercriminals extorted more than 3 billion CFA francs (approximately $5 million) from Burkinabè citizens between 2020 and 2023.
Last November, Burkina Faso approved a National Cybercrime Strategy (2025-2029) to modernize its tools for combating digital threats.
The “Alerte-BCLCC” platform ensures user data confidentiality, allowing for anonymous and secure incident reporting. Users can transmit essential information to the BCLCC with a few clicks, enabling rapid and targeted interventions. The system reflects Burkina Faso’s commitment to protecting its citizens in cyberspace and adapting to evolving security challenges.
By Samira Njoya,
Editing by Sèna D. B. de Sodji
Digital banking platform Affinity Africa announced on February 11 that it had raised $8 million in an oversubscribed Seed Round led by Grazia Equity and BACKED VC to expand financial services for the unbanked.
Affinity operates a branchless model via a mobile app, agent network, and proprietary tech. Unlike traditional banks, it charges no monthly fees or transaction costs.
With this capital, Affinity will scale operations in Ghana and expand further across Africa, driving financial inclusion.