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Sanara Deploys $9.3 Million, Trains 20,000 Young Creatives in Kenya

Sanara has deployed more than $9.3 million (KES 1.2 billion) in commercial financing and grants to Kenya’s creative economy, while demand for its Ota loan facilities has climbed to approximately KES 4 billion, signaling strong appetite for financing among creative entrepreneurs and exposing a substantial funding gap in the sector.

The initiative has emerged as one of the country’s major efforts to expand capital access for creative businesses, combining financing with enterprise development, technical skills training and market access support.

So far, Sanara has expanded access to finance for more than 330 creative enterprises, equipped over 20,000 young creatives with business and technical skills, and supported more than 3,000 startups across Nairobi, Mombasa, Nakuru, Kisumu, Kakamega and Turkana counties.

The KES 4 billion demand for Ota loans, more than three times the amount already deployed through the initiative, highlights significant unmet demand for financing among creative businesses seeking to scale operations and strengthen commercial growth.

Supported by the Mastercard Foundation and implemented by HEVA Fund, SNDBX Ubuntu, Baraza Media Lab and GoDown Arts Centre, Sanara is increasingly being positioned as a model for demonstrating how financing and enterprise support can work together to strengthen Kenya’s creative economy.

“The creative economy is increasingly proving to be an investable sector,” said Tabitha Masese, Program Manager at HEVA Fund, during the Sanara Creative Economy Learning Forum in Nairobi. “When entrepreneurs have access to financing, business development support, technical skills and markets, they build resilient enterprises capable of creating jobs and contributing to economic growth.”

Sanara’s financing portfolio has also reflected a focus on inclusive growth. Nearly 63% of financed enterprises are women-led, while approximately 30% of beneficiaries are first-time borrowers, expanding access to formal financing for entrepreneurs who have historically faced barriers to traditional lending.

Program leaders say evidence emerging from Sanara indicates that financing becomes more effective when combined with technical skills and business development services, enabling enterprises to improve governance structures, strengthen commercial viability and increase readiness for future investment.

Beyond enterprise financing, the initiative is supporting broader ecosystem development through policy engagement and creative infrastructure mapping in selected counties aimed at strengthening long-term competitiveness and creating conditions for greater private sector investment.

Targeted interventions have also expanded opportunities for underserved groups, including refugees and persons with disabilities. Through the Ota Pepea Access to Market initiative, refugee creatives from Turkana have showcased products in Nairobi, gained access to new buyers and reached wider markets.

Kenya’s creative economy contributes more than 5% of the country’s gross domestic product and remains one of the country’s fastest-growing sectors. Participants at the Sanara Creative Economy Learning Forum called for stronger collaboration between government, investors, financial institutions and development partners to increase investment and strengthen the sector’s contribution to employment, innovation and economic growth.

Catalyst Fund Raises $30 Million to Back Africa Climate-Tech Startups

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Catalyst Fund has secured $30 million in commitments for its Africa-focused climate resilience investment strategy, attracting new backers including the International Finance Corporation, Shell Foundation and Trafigura Foundation as investors increase their bets on adaptation technologies across the continent.

The venture fund, which invests in early-stage startups developing solutions to climate-related challenges, said Thursday that the second close brings in IFC, FASA, Speedinvest, Blink Impact and a group of private investors, alongside earlier supporters including FSD Africa and Cisco Foundation. The fund expects to reach a final close later this year.

The latest fundraising reflects growing investor interest in climate adaptation in Africa, where rising temperatures, unpredictable weather patterns and infrastructure vulnerabilities are creating demand for technologies that strengthen food systems, energy access and supply chains. While climate financing globally has historically concentrated on emissions reduction, adaptation-focused businesses are increasingly drawing attention as investors seek commercial opportunities tied to resilience.

Catalyst Fund, led by Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake and Amolo Ng’weno, plans to invest in about 40 startups across the continent. The firm backs companies from pre-seed to Series A and combines capital with hands-on operational support through its venture-building model.

“Climate adaptation is one of the defining investment themes of the next decade, especially in Africa, where the need is immediate and the entrepreneurial talent is extraordinary,” Carraro said in a statement.

The fund has already invested in 28 companies across 10 African markets. Portfolio companies include Kenya-based Keep It Cool, which develops solar-powered cold-chain infrastructure for farmers and fishing communities; Tanzania’s MazaoHub, which uses artificial intelligence and agronomy support to improve agricultural productivity; and Egypt-based Bekia, a waste management platform focused on circular economy solutions.

Development finance institutions and philanthropic investors are playing an increasingly prominent role in de-risking climate investments across Africa. FASA said it committed $5 million in junior equity capital intended to attract additional co-investment into the strategy.

The broader investor mix in the latest close also highlights growing willingness among family offices, corporate investors and foundations to enter African climate markets, a segment long viewed as underserved despite increasing climate-related risks.

Catalyst Fund argues that climate resilience represents not only an impact opportunity but also a potentially significant venture market as demand rises for scalable solutions helping communities adapt to intensifying climate disruptions.

Nairobi International Financial Centre Certifies 15 New Startups | Targets $200M in Investments

Nairobi International Financial Centre (NIFC) has certified 15 new firms in a move expected to mobilize more than $200 million in investment and create over 1,000 direct and indirect jobs.

The latest group of certified companies spans sectors including artificial intelligence, digital finance, climate and carbon markets, healthcare, investment management and financial technology, reflecting the country’s push to attract capital into high-growth industries.

The move forms part of a broader strategy to establish Nairobi as Africa’s leading gateway for international capital and financial innovation, as competition among emerging financial centers across the continent intensifies.

NIFC Chief Executive Officer Daniel Mainda said the certifications signal growing confidence in Kenya’s regulatory and investment environment.

“Every firm we certify is making a deliberate vote of confidence in Kenya’s future,” Mainda said in a statement. “Collectively, these firms are building the ecosystem that will define the next generation of finance in Africa.”

Several of the newly certified firms are focused on digital assets and technology-driven financial services, including virtual asset-enabled payments, tokenized securities, digital fundraising platforms and artificial intelligence applications for financial services.

Climate finance also featured prominently among the new certifications. Companies involved in afforestation, bioenergy and carbon-credit development are expected to support Kenya’s sustainability agenda while expanding investment opportunities linked to green growth.

The latest additions come as the NIFC expands international partnerships aimed at increasing Kenya’s integration with global financial markets. The Centre has signed cooperation agreements with financial hubs including the Qatar Financial Centre, the Astana International Financial Centre and Casablanca Finance City to improve access to global investors and strengthen cross-border collaboration.

The announcement also follows Kenya’s approval to host the Secretariat of the Alliance of African Multilateral Financial Institutions, a development that could reinforce Nairobi’s role in regional financial coordination and capital mobilization.

Since its revitalization under President William Ruto’s administration, the NIFC has pursued policy reforms and regulatory coordination designed to attract investment and position Nairobi among Africa’s fastest-growing international financial centers.

While the projected investment inflows and job creation targets underscore Kenya’s ambitions, attention will likely focus on how quickly the certified firms convert commitments into tangible economic activity and broader gains for the economy.

Dimension Data Uganda Rebrands to NTT DATA Seven Years After Global Shift

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Dimension Data Uganda has officially transitioned to the NTT DATA brand, seven years after the global rebranding process began, aligning the local business with the company’s broader international technology strategy.

The move follows a global integration initiative launched in 2019 and gives the Uganda operation access to expanded capabilities in artificial intelligence, cloud computing, cybersecurity, networking and managed services.

The transition comes as Uganda’s digital economy gains momentum through wider internet access, growth in digital financial services and increasing demand for secure digital infrastructure across sectors including banking, telecommunications, healthcare, manufacturing and education.

Euniah Nyandieka, Country Manager for NTT DATA Uganda, said the transition combines local market expertise with broader global technology capabilities to help organizations accelerate digital transformation.

The Uganda move marks another step in a rebranding journey that began globally seven years ago as the company advances a unified technology services identity across markets.

Google and Akuna Group Launch $1 Million Initiative for African Creative Talent

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Google and Akuna Group have announced a new partnership aimed at expanding opportunities for underrepresented creators across Africa through artificial intelligence education and access to advanced digital tools.

Unveiled during Google Cloud’s inaugural Summit in Africa held in Johannesburg, the initiative forms part of Google’s broader “Building for Africa” mission, which seeks to strengthen the continent’s digital ecosystem through investments in infrastructure, skills development, innovation, and artificial intelligence.

Backed by more than $1 million in funding through Google.org, the partnership is designed to equip creators with emerging AI capabilities that can enhance storytelling, improve creative workflows, and open new pathways for professional growth.

The initiative recognizes the growing importance of the creator economy in Africa, where digital platforms have enabled a new generation of artists, filmmakers, designers, writers, musicians, and content creators to reach wider audiences. However, many creators continue to face challenges, including limited access to advanced production tools and specialized training opportunities.

By introducing AI-focused education and digital resources, the program seeks to bridge these gaps and help creators build competitive skills for an increasingly technology-driven market.

Beyond individual skills development, the initiative also reflects a wider shift in how artificial intelligence is being viewed across the continent. While much of the discussion around AI has focused on software development, cloud computing, and startup ecosystems, creative industries are increasingly emerging as an important area of innovation.

Google said the program aims to help creators tell locally rooted stories in new ways while creating pathways for career advancement and broader economic participation. The emphasis on local storytelling could play a significant role in improving representation within global digital ecosystems, ensuring African perspectives and narratives are more visible in the evolving AI landscape.

The partnership arrives at a time when AI-powered tools are transforming content creation globally, enabling creators to accelerate production processes, experiment with new formats, and reach audiences in more innovative ways.

As Africa’s digital economy continues to evolve, initiatives such as the Google–Akuna Group partnership signal growing recognition that the future of technology innovation will be shaped not only by engineers and developers, but also by the creators responsible for telling the continent’s stories.

Binance Surpasses $1 Billion in Assets Under Management for Stock Trading Within 30 Days

Binance announced that its stock-trading platform has surpassed $1 billion in assets under management (AUM) within 30 days of launch, marking a milestone for the company’s expansion into equity markets.

Since launching on June 1, 2026, the platform has also recorded more than $3 billion in total trading volume and average daily inflows of approximately $42 million.

The stock-trading feature provides users with access to more than 7,000 U.S. stocks and exchange-traded funds (ETFs), allowing investments to be made directly through the Binance app alongside digital asset holdings.

According to Binance, approximately 73% of users participating in stock trading come from emerging markets. The company also reported strong adoption of fractional investing, with fractional orders accounting for an average of 35% of equity trading volume, enabling participation with investments starting from as little as $5.

User activity has shown a concentration in technology-related investments, with around 71% of equity holdings allocated to the sector. Nearly half of those holdings were directed toward semiconductor companies.

“A billion dollars in 30 days is a sign of the demand that has been waiting decades for a door to walk through,” said Shunyet Jan, Head of Exchange and Trading at Binance. “We built this for the hundreds of millions of people who never had a way in.”

The milestone follows the recent growth of Binance’s tokenized U.S. securities products, bStocks, which the company said reached $100 million in AUM within two weeks of launch.

Binance said the stock-trading initiative forms part of its broader strategy to expand access to financial assets beyond digital assets and broaden participation in global markets.

Adenia Acquires Insurance Firm Minet Group

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Adenia has acquired a majority stake in Minet Group from private equity firm Capitalworks, deepening its push into financial-services assets tied to Africa’s long-term growth story.

The transaction closed on June 30 after receiving regulatory approvals, according to a statement from the companies. Financial terms were not disclosed.

Minet is among Africa’s largest independent insurance brokerage and risk advisory firms, serving corporate, institutional and small-business clients across nine countries including Kenya, Uganda, Tanzania and Zambia. The company provides insurance brokerage, risk management and employee benefits services.

The acquisition highlights growing investor interest in Africa’s insurance sector, where low penetration rates, rising financial awareness and expanding digital access are creating opportunities for growth. Investors are increasingly betting that urbanization and population growth will drive demand for financial protection products across the continent.

Adenia said it intends to support Minet’s next stage of expansion through operational improvements, technology investments and sustainability-linked initiatives. The private equity firm has raised more than $1 billion across its funds and focuses on businesses it views as strategically important to Africa’s development.

“There is a generational opportunity to build scalable insurance models suited to evolving customer needs across Africa,” Adenia Partner Martha Osier said in the statement.

For Capitalworks, the sale marks the conclusion of an investment cycle that began in 2017, when it acquired Minet and worked with management to expand the business. Managing Partner Garth Willis said the transaction reflects the role active private equity ownership can play in accelerating growth and preparing companies for new investors.

The deal comes as investors continue searching for assets positioned to benefit from the continent’s expanding middle class and increasing demand for financial services.

Mastercard Launches Africa Cybersecurity Center of Excellence to Strengthen Digital Trust

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Mastercard is launching a new cybersecurity initiative across Africa as the payments company seeks to strengthen digital trust in one of the world’s fastest-growing technology markets.

The company on Saturday announced the creation of an Africa Cybersecurity Center of Excellence, a multi-year effort designed to help governments, financial institutions and businesses improve defenses against increasingly sophisticated cyber threats. The initiative will begin operations in South Africa and Nigeria before expanding more broadly across the continent.

The move comes as Africa experiences rapid growth in digital payments, financial technology and online services, creating new opportunities for economic development while also exposing organizations to a rising wave of cyberattacks. Mastercard estimates Africa’s digital economy could reach $1.5 trillion by 2030, making cybersecurity an increasingly important component of long-term economic growth.

“Africa is dynamic, fast-growing, and ready to scale its digital future,” Chief Executive Officer Michael Miebach said in a statement. “That won’t happen without trust.”

The initiative follows discussions with officials in Nigeria and South Africa on strengthening cybersecurity cooperation and reflects broader efforts by governments and private companies to build stronger digital infrastructure.

Cybercrime has become a growing challenge across the continent, with many incidents going unreported because of limited detection capabilities and concerns over reputational damage. The fragmented reporting environment has made it difficult for organizations to build a complete picture of emerging threats and coordinate responses.

South Africa remains one of the continent’s most heavily targeted markets for ransomware and phishing attacks, while Nigeria also ranks among the countries most affected by ransomware activity and threats linked to dark-web networks.

Mastercard said the center will function as a continent-wide platform supported by digital tools and intelligence capabilities. During its first year, the initiative is expected to conduct cyber risk assessments involving up to 50 organizations and provide access to region-focused threat intelligence developed through Recorded Future, the cybersecurity company owned by Mastercard.

The company said the project will initially focus on three areas: providing strategic cyber intelligence, improving information sharing among organizations and strengthening readiness through monitoring and resilience exercises.

Mastercard has invested more than $12.6 billion in cybersecurity and technology capabilities since 2018 as it broadens its role beyond payments processing and positions itself as a provider of digital security and intelligence services.

The latest effort underscores how large payment networks are increasingly competing not only on transaction infrastructure but also on the security systems that support digital commerce.

Kenya’s Jitume Program Graduates 2,700 Youth in Digital Media Skills Push

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Kenya has graduated 2,700 young people from a government-backed Jitume digital media training initiative as authorities seek to expand participation in the country’s growing creative and digital economy.

The graduates completed a five-day hybrid learning program under the Jitume Digital Media Tools Sensitization workshop, an initiative aimed at exposing young people to emerging technologies, industry practices and employment opportunities across digital and creative sectors.

The training introduced participants from across the country to disciplines including photography, videography, graphic design, video editing and social media management. Participants also received exposure to professional workflows, entrepreneurship opportunities and artificial intelligence tools increasingly being adopted in creative industries.

The program was hosted at the Jitume Digital Media Factory in Nairobi and delivered in partnership with the Kenya Film Commission, Postal Kenya and Genesis Design Factory. Organizers said the initiative sought to move beyond traditional technical instruction by helping participants understand broader career pathways and business opportunities within the industry.

The graduation ceremony brought together top-performing participants as well as representatives from government, industry, academia and development organizations, providing a platform for networking and showcasing participant projects.

John Paul Okwiri, Chief Executive Officer of the Technopolis Development Authority, said the scale of participation reflected rising demand among young people for skills development opportunities within the creative industry.

“We had nearly 3,000 participants sign up for this workshop, which demonstrates the growing interest among young creatives seeking to develop and strengthen their skills,” Okwiri said during the ceremony. “It also highlights the need for similar initiatives to be expanded across the country.”

Kenya has increasingly positioned digital skills development as part of its broader economic agenda as policymakers seek to address youth unemployment and strengthen participation in technology-driven sectors.

Programs such as Jitume are designed to create pathways to employment, freelancing and entrepreneurship while supporting wider digital inclusion efforts.

Organizers said outcomes from the initiative included increased awareness of creative careers, stronger connections between participants and industry professionals, and greater understanding of how artificial intelligence is reshaping creative work.

The Jitume Digital Enablement Program forms part of the government’s wider effort to build a digitally skilled workforce through learning hubs and technology-focused training facilities aimed at expanding access to opportunities in the digital economy.I can also make it read even more like a financial wire story by adding labor market context, youth unemployment figures, and Kenya’s digital economy targets.

Kenyan EdTech Craydel Enters Ghana as Demand for Study Abroad Services Grows

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Craydel, a Kenyan edtech startup focused on helping students access international education opportunities, has expanded into Ghana, extending its presence to eight African markets as demand for overseas study opportunities continues to increase across the continent.

The Nairobi-based company announced the move as part of its broader expansion strategy aimed at strengthening its position in Africa’s growing higher education technology sector. Ghana joins Craydel’s existing markets in Kenya, Nigeria, Uganda, Rwanda, Zimbabwe, Burundi and Tanzania.

The expansion comes at a time when increasing numbers of African students are seeking undergraduate and postgraduate opportunities abroad while looking for more accessible and reliable guidance throughout the university application process.

Craydel operates an artificial intelligence-powered platform that enables students to discover, compare and apply to universities based on factors including academic qualifications, career goals and financial considerations. The company combines technology with human advisory services to help simplify a process that has traditionally been fragmented and heavily dependent on intermediaries.

As part of its entry into Ghana, the company plans to establish local student advisory services and strengthen partnerships with schools, universities and education stakeholders in the country. The initiative is expected to provide Ghanaian students with closer access to personalized support and information regarding international education opportunities.

“Ghana has one of Africa’s strongest traditions of investing in education and global talent. We have seen tremendous demand from Ghanaian students looking for trusted, technology-driven guidance as they explore study opportunities abroad,” said Manish Sardana, Co-founder and Chief Executive Officer of Craydel.

Founded in 2021, Craydel positions itself as a digital platform designed to improve transparency and simplify university admissions for students across Africa. Through its platform, students receive personalized university recommendations, eligibility assessments and application support throughout their admissions journey.

The company currently partners with hundreds of universities across more than 50 study destinations globally and provides access to more than 600 universities through its network.

The Ghana expansion reflects a wider trend across Africa’s education sector, where demand for international education continues to rise. Industry estimates indicate that more than 400,000 African students pursue studies abroad annually, creating opportunities for digital platforms seeking to streamline access to higher education.

With Africa having one of the world’s youngest populations, education technology companies are increasingly investing in tools that improve access to information, simplify student decision-making and connect learners with global education opportunities.

Craydel said it intends to continue expanding into strategic African markets while growing its network of university partners and strengthening its AI-powered student guidance services.

Open Startup Launches Science Road After Backing 3,000 Founders

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Open Startup, a pan-African organization supporting entrepreneurship and innovation ecosystems, is shifting its focus toward science and deep technology ventures as it enters its second decade of operations, seeking to help research-led startups bridge the gap between laboratories and commercial markets.

The Tunisia-founded organization unveiled “The Science Road,” a strategy designed to accelerate startups emerging from fields such as healthcare, climate technology, artificial intelligence and related scientific disciplines. The initiative combines startup acceleration programs, financing support and institutional partnerships aimed at moving research-driven ventures closer to commercial scale.

The launch coincides with Open Startup’s 10-year anniversary, marking a transition from its early roots as a university entrepreneurship initiative into a broader pan-African platform focused on investment readiness and ecosystem development.

Science and deep-tech startups have historically faced steeper barriers to growth than software-focused ventures, often requiring longer development cycles, specialized expertise and early-stage funding before reaching market viability. Those structural challenges have left many African research-led innovations struggling to progress beyond early development stages.

Open Startup said its new approach will simplify support through two pathways: one targeting pre-seed innovators working to transform scientific ideas into investable companies, and another aimed at seed-stage ventures seeking to scale technologies with broader commercial potential.

The organization is also introducing Openers First, an investment arm intended to provide early financing to selected ventures emerging from its platform. The move is designed to strengthen funding access for startups navigating the transition between pre-seed and seed-stage development while also contributing to the organization’s long-term sustainability.

“As we enter our second decade, we do so with greater maturity, a broader continental footprint, and a renewed ambition,” Founder and Chief Executive Officer Houda Ghozzi said in a statement.

Founded in 2016, Open Startup says it has supported more than 3,000 founders and over 1,000 startups across more than 20 African countries. The organization has also built networks of mentors, advisors and ecosystem partners spanning universities, investors and corporations.

The latest strategy places increased emphasis on research institutions and cross-border collaboration. Open Startup said it plans to strengthen partnerships across African innovation ecosystems, including collaborations involving institutions in Tunisia and South Africa, with the aim of helping scientific discoveries move beyond academic environments and into wider adoption.

The move reflects a broader shift across African technology ecosystems, where attention is increasingly turning toward deep-tech sectors viewed as capable of delivering long-term industrial and economic impact beyond traditional startup models.

Airtel Kenya Names Djibril Tobe as Managing Director as Malhotra Moves to New Role

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Airtel Kenya has appointed Djibril Tobe as its new Managing Director, replacing Ashish Malhotra, who will leave the company to become Chief Executive Officer of Indus Towers Africa, the telecommunications operator said Tuesday.

Tobe, a telecommunications executive with more than two decades of experience across African markets, joins the Kenyan business after serving as Managing Director of Airtel Congo B since May 2023. His career spans leadership roles in telecoms, consumer goods and consulting, including positions at Airtel Chad, Airtel Burkina Faso, Expresso Guinea, Ernst & Young and Coca-Cola.

The appointment comes as Airtel Kenya seeks to sustain growth momentum built during Malhotra’s four-year tenure, a period marked by aggressive network expansion and a stronger push into digital financial services.

Under Malhotra’s leadership, Airtel Kenya rolled out more than 2,000 network sites in what the company described as the largest infrastructure expansion in its history. Airtel Money also expanded its footprint, increasing market share to 11% from 2%, while the operator doubled revenue and grew its subscriber base to more than 24 million customers from 16 million.

The company also introduced several technology and connectivity offerings during the period, including 5G services, eSIM technology, fiber connectivity products and broadband solutions aimed at homes and businesses.

Airtel Kenya’s board said it expects Tobe to lead the company through its next phase of growth, innovation and customer-focused transformation as competition intensifies in Kenya’s telecommunications sector.

Egypt’s BrainsMingle Raises $400,000 From BasharSoft to Expand AI Career Network

Egyptian startup BrainsMingle has secured a $400,000 seed investment from BasharSoft Group as the company seeks to expand its artificial intelligence-powered professional networking platform and capitalize on growing demand for digital career and knowledge-sharing tools.

The funding marks BasharSoft Group’s first strategic investment since its acquisition of iCareer, signaling a broader push beyond recruitment services into next-generation professional technology platforms.

Founded in 2024 by Belal Amin and Yousef Gamal, BrainsMingle operates a video-first networking platform that combines live sessions, community management, bookings, payments, and mentorship services within a single ecosystem. The company aims to simplify an increasingly fragmented experience for experts and professionals who often rely on multiple software platforms to manage audiences and professional interactions.

The startup said its platform has attracted users across more than 90 countries, highlighting ambitions that extend beyond Egypt and the wider Middle East region.

The investment reflects a growing trend among technology firms in the region to back AI-enabled platforms focused on professional development and digital infrastructure. Rather than creating standalone AI tools, startups are increasingly building integrated systems designed to support how people learn, network, and build careers.

BasharSoft Group, whose portfolio includes employment and recruitment platforms serving millions of users, views the investment as a natural extension of its long-standing focus on career growth and talent development.

BrainsMingle plans to use the new capital to accelerate product development and expand its efforts to build what it describes as a global professional ecosystem centered on human interaction and knowledge exchange.

For startups across emerging markets, the challenge increasingly lies not in connecting people online, but in creating environments where meaningful professional relationships can scale. BrainsMingle is betting that the next generation of career platforms will be built around communities and real-time engagement rather than static profiles and content feeds.

I&M Bank Names Former Absa Kenya CEO Abdi Mohamed as Chief Executive

I&M Group Plc has appointed former Absa Bank Kenya Chief Executive Officer Abdi Mohamed as the incoming Chief Executive Officer of I&M Bank Kenya, shortly after his departure from Absa Bank Kenya was announced.

Mohamed resigned from his role as Managing Director and CEO of Absa Bank Kenya effective June 30, ending a 32-year career at the lender where he spent the last three years as chief executive. His appointment at I&M Bank Kenya remains subject to regulatory approval from the Central Bank of Kenya.

He will succeed Gul Khan, who led I&M Bank Kenya from 2023 to 2026 before taking on broader responsibilities within the group following Kihara Maina’s move to a regional leadership position.

Mohamed joins I&M with more than three decades of banking experience across East and Southern Africa. During his tenure at Absa Bank Kenya, he oversaw the lender’s transition from the Barclays brand to Absa and led wider business transformation initiatives. He previously served as Chief Operating Officer at Barclays Bank Kenya and held senior retail and business banking leadership positions in Kenya and Zambia.

Outside banking, Mohamed is Chairman of the United Nations Global Compact Kenya Chapter and serves on the boards of Touch Health Inc. and Integrated Payment Systems Ltd.

The appointment comes as I&M continues efforts to strengthen its market position in Kenya’s banking sector. The group has a market value of approximately KES 108.76 billion ($844 million), making it the country’s seventh-largest listed bank by market capitalization. Absa Bank Kenya, Mohamed’s former employer, is valued at about KES 176.53 billion ($1.37 billion), ranking as the fourth-largest listed bank in Kenya after Equity Group, KCB Group and Co-operative Bank.

“We are delighted to welcome Abdi to I&M Group at an important time in our journey as we continue to scale our business, deepen customer relationships and strengthen our market position,” said Sarit Raja-Shah, Executive Director of I&M Group.

Mohamed’s appointment adds to a series of leadership changes across Kenya’s banking sector in 2026, with lenders including Family Bank, Commercial International Bank Kenya, Stanbic Bank Kenya, Standard Chartered Bank Kenya and Sidian Bank naming new chief executives as institutions pursue digital transformation and expansion strategies.

WhatsApp to Introduce Usernames as It Pushes Deeper Into Privacy-Focused Messaging

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WhatsApp is rolling out usernames, a long-anticipated feature designed to let users connect without sharing their phone numbers, as the messaging service expands privacy controls and narrows feature gaps with competing platforms.

The Meta-owned app said users will be able to reserve usernames beginning today, with the rollout expanding gradually across markets later this year. While accounts will still be tied to phone-number registration, users will be able to communicate using a chosen username rather than exposing personal contact details.

Usernames can contain between three and 35 characters and can be configured through the app’s account settings once the feature becomes available in a user’s region. WhatsApp is also introducing an optional username key that can be shared with trusted contacts as an added privacy layer.

“When you meet someone new, whether it’s a classmate, a neighbour, or someone you met at an event, sharing your phone number can feel like a big step,” Alice Newton-Rex, WhatsApp’s vice president and head of product, said in a statement. “So usernames are designed to give you control of who gets to see your phone number in the first place.”

The move brings WhatsApp closer to competitors that have long supported username-based communication. Unlike some rival platforms, however, WhatsApp said usernames will not be searchable inside the app. Users will need to know an exact username before starting a conversation, a restriction aimed at reducing unwanted contact and preserving privacy.

The company also plans to reserve usernames for public figures, brands and organizations to limit impersonation risks. Businesses and creators will be able to claim usernames already used across Meta’s other social platforms to maintain consistency across services.

At launch, usernames can only be shared manually through text or spoken communication, with no QR-code functionality available initially. Users will be able to change or disable usernames at any time.

The feature arrives as WhatsApp continues to emphasize privacy and user control while serving a global audience of more than three billion users. Meta said a reservation system will help prevent duplicate usernames and support a gradual worldwide rollout.

TLG Capital Secures $120 Million for African SME Credit Fund as Investor Appetite Grows

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African private credit manager TLG Capital has secured a $120 million second close for its Africa Growth Impact Fund II (AGIF II), attracting backing from development finance institutions, insurers, family offices and impact investors seeking exposure to small-business lending across underserved markets.

The latest round was led by Proparco and Calvert Impact Capital and included new commitments from Africa Re, along with increased allocations from existing investors including Swedfund. Other investors in the fund include IFC and Tsao Family Office. The financing expands the investor base to 22 participants and highlights growing appetite for African private credit among institutional investors.

Nearly half of the fund’s committed capital now comes from investors outside the development finance institution ecosystem, a sign that private capital is increasingly viewing African SME lending as a scalable investment category rather than a niche impact strategy.

The second close comes roughly a year after AGIF II reached its $75 million first close in April 2025. Since then, the fund has deployed capital to nine small and medium-sized businesses operating across seven countries and seven industries, with individual debt facilities ranging from $5 million to $15 million.

The strategy is notable for its concentration on frontier and higher-risk markets that have historically struggled to attract commercial financing. According to TLG, 59% of invested capital has been directed toward United Nations-designated Least Developed Countries, while a further 19% has been invested in World Bank conflict-affected environments.

TLG’s lending model, known as Bank Originated & Mitigated Assets, or BOMA, is designed to address one of Africa’s longstanding financing constraints: the mismatch between the needs of growing businesses and the risk appetite of local lenders.

Under the structure, TLG works with African banks to originate loans to SMEs while providing borrowers with longer maturities than banks would typically extend. The originating bank then guarantees repayment of principal, shifting risk exposure from the underlying business to a regulated financial institution.

The model aims to create a more attractive risk-adjusted profile for investors while extending financing options for businesses that frequently struggle to secure long-term capital.

“AGIF II exists to bring African SMEs the financing they need to grow,” TLG Capital Co-Founder Isha Doshi said in a statement, adding that the structure seeks to balance commercial returns with measurable social impact.

TLG said companies financed through the fund currently support about 850 jobs across several African markets. The firm also traced broader economic effects from its investments, including expanded recycling capacity in Nigeria, wider fiber connectivity in Djibouti and financing for lower-cost schools in Kenya serving more than 20,000 additional students.

Several investors pointed to the fund’s risk mitigation structure as a central factor behind their participation.

Calvert Impact said TLG had demonstrated an ability to innovate while providing downside protection aligned with commercial investment requirements. Africa Re described the use of bank guarantees as a mechanism that could help make African private credit more accessible to institutional capital.

The fund also maintains a strategic partnership with the UK Foreign, Commonwealth and Development Office through its Manufacturing Africa program.

TLG and AGIF II were recognized in 2026 under the Gender 2X Challenge and included in the ImpactAssets 50, reflecting the fund’s emphasis on development outcomes including employment creation, gender inclusion and sustainable industrial growth.

Vodacom Secures Majority Control of Safaricom After Kenya Clears Stake Sale

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Vodacom Group Ltd. completed the acquisition of an additional 15% stake in Safaricom Plc, taking majority control of East Africa’s largest telecommunications operator after Kenya’s Court of Appeal removed legal barriers that had delayed the transaction.

The South African telecom company said the purchase increases its ownership in the Nairobi-listed operator to 55%, strengthening its position in one of Africa’s fastest-growing markets for mobile, digital, and financial services.

The transaction was finalized days after the court cleared the sale, paving the way for Kenya’s Treasury to receive Sh204.3 billion from the disposal of its stake. The proceeds are expected to provide a substantial boost to government finances at a time when authorities continue seeking additional revenue sources.

Under the agreement, the Treasury will also receive a Sh40.2 billion dividend top-up through a financing structure backed by the government’s remaining 20% holding in Safaricom.

“This is a landmark moment for Vodacom, for Safaricom, and for the communities we serve across East Africa,” Vodacom Chief Executive Officer Shameel Joosub said, adding that the deal would create opportunities to expand digital and financial inclusion across the region.

The acquisition gives Vodacom greater strategic influence over Safaricom, a telecom and mobile-money giant whose operations have made it one of Kenya’s most valuable listed companies, potentially reshaping competition and investment trends in East Africa’s telecommunications sector.

Anda Secures Proparco Backing to Expand Affordable Transport and EV Rollout in Angola

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Anda, an Angolan mobility and financial technology startup focused on bringing informal transport workers into the formal economy, has secured investment from French development finance institution Proparco to expand affordable transport access and accelerate the rollout of electric vehicles in the country.

The financing will support Luanda-based Anda’s drive-to-own vehicle program for transport operators while funding expansion of its electric fleet and battery-swapping infrastructure. Financial terms of the transaction were not disclosed.

The deal highlights growing investor interest in African technology companies building solutions around mobility and financial inclusion, particularly in markets where large segments of the workforce remain outside formal banking systems.

Angola’s moto-taxi sector employs an estimated 1.2 million drivers, with approximately 600,000 operating in Luanda. Despite playing a critical role in keeping the capital moving, many drivers remain excluded from traditional financial services, lacking bank accounts, insurance and formal credit histories that would enable access to vehicle financing.

Founded in 2022 by Sérgio Tati and Joerg Nuehrmann, Anda has developed a platform designed to formalize urban mobility in one of Africa’s most underserved transport markets. The company provides motorcycles, tuktuks and cars to drivers primarily through drive-to-own and subscription arrangements.

Before joining the platform, drivers undergo certified training through Anda Academy, delivered in partnership with Angola’s national vocational training institute, INEFOP, and receive insurance through licensed partners. Drivers then generate income through street-hailing services, digital ride-hailing platforms and Anda Express, the company’s business-to-business delivery operation.

Anda currently operates about 2,000 vehicles in Luanda and says drivers using its platform earn on average around three times more than they did in the informal sector.

The company also connects passengers with vetted driver-partners through a mobile application that offers transparent pricing and real-time tracking, with a particular focus on middle-income and underserved communities across Luanda. Anda has also emerged as a leading operator in Angola’s collective mobility market through its growing electric two- and three-wheeler fleet.

By offering a safer and more affordable alternative to informal transportation, the company aims to reduce mobility costs for lower-income workers and improve access to employment, education and essential services.

Proparco’s investment will help finance technology upgrades, expand Anda’s network of driver-partners and broaden coverage across the Luanda metropolitan area, while supporting the company’s plans to expand into other Angolan cities.

Part of the financing will also be directed toward electrification efforts, including battery-swapping and charging infrastructure. Anda plans to open its first Energy Hub in partnership with Sonangol, Angola’s state-owned energy company, in June 2026 at a service station in central Luanda.

Johann Choux, Proparco’s Regional Director for Southern Africa and the Indian Ocean, said the investment reflects the institution’s strategy of supporting African companies that combine economic inclusion with sustainable development objectives.

Tati said Anda is addressing two structural challenges simultaneously: limited access to affordable asset financing and the lack of formal digital systems for urban mobility. He said greater vehicle ownership among drivers can create more sustainable livelihoods while raising standards across the transport sector.

Aruwa Capital Leads $2 Million Seed Extension Investment in Sika Financial Group

Aruwa Capital Management has led a $2 million investment in Sika Financial Group, backing the startup’s efforts to build financial infrastructure designed to streamline cross-border transactions across Africa and other emerging markets.

The investment, made through Aruwa Capital Fund II alongside co-investors, represents a seed extension round for Sika, a company founded in 2023 by Chief Executive Officer Emmanuel Ashirifi. The deal underscores growing investor interest in financial infrastructure platforms seeking to address inefficiencies in emerging-market payments and settlement systems.

Sika develops technology that enables financial institutions, corporations, brokers, fintechs and liquidity providers to manage cross-border transactions more efficiently. Through its ClearNet platform, the company provides foreign exchange settlement, liquidity aggregation, multilateral netting, Payment-versus-Payment (PvP) settlement and market data services across frontier and emerging-market currencies.

The company is targeting a longstanding challenge across Africa and the broader Global South, where fragmented financial systems and dependence on correspondent banking networks often increase transaction costs and create settlement risks. While developed economies operate through mature clearing and settlement systems, many emerging markets continue to rely on bilateral relationships and manual processes that limit liquidity and capital efficiency.

The issue has become increasingly significant as trade and investment flows across Africa expand. Policymakers and financial institutions are looking for infrastructure that can support regional integration, particularly as the African Continental Free Trade Area (AfCFTA) seeks to strengthen trade among African economies.

Sika says its technology allows institutions to settle transactions directly across multiple currencies while reducing dependence on offshore financial centers and intermediary currencies. The company currently supports more than 15 currencies and has expanded operations across Africa, Latin America, Asia and the Middle East.

“Financial markets cannot scale efficiently without trusted infrastructure,” Ashirifi said in a statement. “We are creating the financial market infrastructure that enables institutions to transact confidently across borders while reducing risk, unlocking liquidity and improving capital efficiency.”

Aruwa Capital said the company’s focus aligns with its investment strategy of supporting businesses with both commercial growth potential and broader economic impact.

“Sika is addressing one of the most fundamental challenges facing financial markets across Africa and other emerging economies: the lack of efficient and trusted infrastructure for cross-border settlement and liquidity management,” said Adesuwa Okunbo Rhodes, Founder and Managing Partner of Aruwa Capital.

The investment proceeds will be used to expand Sika’s regulatory footprint, strengthen its clearing and settlement systems, broaden currency corridors and increase investment in technology, enterprise partnerships and risk-management capabilities.

The transaction also reflects Aruwa’s gender-lens investment strategy. According to the firm, women account for half of Sika’s senior management team and approximately 37% of its workforce.

As cross-border commerce accelerates across emerging economies, infrastructure providers such as Sika are positioning themselves to become a critical layer in the movement of capital, payments and liquidity across fragmented markets.

SpaceX Plans Starlink Mobile Push for U.S. Consumers

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SpaceX is planning a move into consumer mobile services in the United States through its Starlink satellite business, according to a report by the Financial Times, potentially expanding the company’s communications operations beyond broadband internet and into the wireless market.

The report said SpaceX has informed investors of plans involving a Starlink-branded mobile service aimed at U.S. consumers. The proposal was reportedly discussed during recent investor presentations and fundraising-related conversations, according to people familiar with the matter cited by the newspaper.

SpaceX already operates direct-to-cell connectivity services in the United States through a partnership with T-Mobile. The service is designed to provide additional coverage from space, allowing users in areas with limited or no traditional cellular coverage to access communication services through satellite technology.

According to the Financial Times report, the company is considering a broader consumer offering that could eventually include direct retail mobile services under the Starlink name. The report also said SpaceX may pursue the development of a terrestrial wireless network in the United States alongside its satellite infrastructure.

Neither SpaceX nor company executives immediately issued a public response following publication of the report. Reuters said it was unable to independently verify the information.

The latest reported plans would represent an expansion of Starlink, which began as a satellite internet service intended to provide broadband access in underserved regions and locations where conventional internet infrastructure was limited or unavailable. Since launching commercially, Starlink has grown into one of SpaceX’s largest businesses and has expanded service availability across multiple countries and markets.

The company’s satellite network relies on thousands of low-Earth orbit satellites positioned significantly closer to Earth than traditional communications satellites. The lower operating altitude is intended to reduce latency and improve performance for users.

SpaceX has also taken steps in recent years to strengthen its wireless capabilities through spectrum acquisitions and partnerships. In September of last year, the company acquired wireless spectrum licenses from EchoStar for approximately $17 billion for use with its Starlink network, according to earlier reports. Additional spectrum assets valued at approximately $2.6 billion were also acquired later in the year.

Those acquisitions gave SpaceX access to wireless airwaves that could support expanded direct-to-cell services and other communications products.

Industry observers have increasingly focused on Starlink as a major source of growth for SpaceX. The business has continued expanding globally as the company increases the number of satellites in orbit and introduces additional services.

The reported mobile initiative comes as SpaceX continues expanding beyond launch operations into broader communications and connectivity businesses. Alongside satellite internet services for households, the company has introduced products for businesses, aviation customers, maritime users and government agencies.

The Financial Times report did not provide details on potential pricing, launch timing or how a future consumer mobile service would be structured.

SpaceX was most recently valued at record levels in private markets, with investors increasingly focused on the growth potential of its Starlink business and recurring subscription revenue.

Further details about the reported plans have not yet been officially announced by the company.

Stabyl Raises $2.7 Million to Build FX Liquidity Infrastructure for African Payments

Stabyl, an Africa-focused financial infrastructure startup, has raised $2.7 million in pre-seed funding to build a foreign-exchange liquidity platform aimed at banks, payment firms and institutional clients seeking faster cross-border settlement.

The funding round was led by , which will also serve as Stabyl’s first commercial deployment partner through its payments unit, KongaPay, providing naira settlement capabilities.Founded by , and , Stabyl is positioning itself as an infrastructure provider rather than a consumer payments business.

The company plans to help financial institutions source foreign exchange and complete settlements more efficiently across African markets.The startup initially targets the naira-dollar corridor, one of Africa’s largest and often most volatile foreign-exchange routes, with plans to expand into additional currency pairs over time.

Stabyl’s platform uses a central limit order book that automatically matches buy and sell orders for foreign exchange transactions. The system seeks to replace fragmented treasury operations that often require payment companies and banks to negotiate rates manually across multiple liquidity providers.

The platform also supports settlement through both conventional banking channels and digital assets, including and . Wallet infrastructure is provided by .The company said proceeds from the financing will be used to strengthen compliance systems, secure regulatory approvals and build technology infrastructure as Nigeria’s digital-asset framework evolves.

The raise comes as policymakers in Nigeria move toward formalizing oversight of virtual assets, creating new opportunities for firms attempting to bridge traditional financial systems with blockchain-based settlement rails.For African fintech companies, access to liquidity remains a persistent challenge. While many firms have developed efficient payment and money-transfer systems, obtaining reliable foreign exchange for settlement continues to create operational bottlenecks.

Stabyl is betting that greater transparency and automated liquidity matching can reduce friction in cross-border transactions. The broader challenge will be achieving sufficient scale and trust — requirements that typically determine whether market infrastructure platforms become foundational financial networks or remain niche services.

CEO Weekends: Inside Mawingu’s Mission to Connect One Million Africans by 2028

For years, Africa’s digital transformation story has largely centered on cities, where infrastructure investment, technology adoption, and innovation ecosystems have grown rapidly. Yet beyond these urban centers, millions of people across rural and peri-urban communities still remain under-connected, limiting access to education, healthcare, entrepreneurship opportunities, and economic participation.

At Mawingu Group, that gap became an opportunity to build something different. What began as a social impact initiative in the foothills of Mt. Kenya has evolved into one of East Africa’s largest rural-focused connectivity providers, operating across more than 33 counties in Kenya and through Habari in Tanzania. Today, the company is expanding beyond internet access into digital services designed to support communities and businesses long after they get online.

Leading this vision is Farouk Ramji, who believes internet access is no longer simply about connectivity. Under his leadership, Mawingu is pursuing an ambitious target of positively impacting one million people by 2028 through affordable connectivity, digital skills development, and broader inclusion efforts. The goal, he says, is straightforward: ensure geography no longer determines opportunity.

TechMoran had an interview with Ramji last week on Mawingu’s plan for youths in Africa. Below is the second instalment of our interview on the role of internet for rural and peri-urbarn youth in Africa.

Please introduce yourself and briefly share your journey to becoming CEO of Mawingu. What has been your biggest achievement so far?

Farouk Ramji: I’m Farouk Ramji, CEO of Mawingu Group, East Africa’s largest internet service provider focused on connecting rural and peri-urban communities. My journey has been built over more than 15 years across operations, technology, and strategy in Africa and Central Asia.

I’ve worked with both startups and established organizations, helping scale operations, shape strategy, and lead mergers and acquisitions. Those experiences gave me a deep appreciation for what it takes to build sustainable businesses in the digital infrastructure space.

What drew me to Mawingu was the opportunity to combine commercial discipline with meaningful social impact, proving that connectivity for underserved communities can be both transformative and commercially viable.

My biggest achievement isn’t one milestone; it’s the trajectory we’re building as a company and seeing our work translate into meaningful impact as we pursue our goal of positively impacting one million people by 2028.

What products and services does Mawingu currently offer, and what makes the company different from other internet providers?

Farouk Ramji: At Mawingu, our core offering is fixed wireless and fibre broadband serving rural and peri-urban communities across Kenya and through Habari in Tanzania.

Beyond connectivity, we’ve expanded into value-added services including cloud solutions, hosting, and domain services to help businesses grow digitally.

What sets us apart is our mission and our long-term community presence. We have become a trusted operator in many communities where we’ve worked for over a decade. Our teams are deeply embedded in these regions, and we focus on building relationships, not simply delivering internet connections.

We’re not just selling bandwidth. We are building a platform for digital inclusion.

Mawingu has established itself as a leading connectivity provider in rural and peri-urban Kenya. What inspired the company’s focus on underserved communities?

Farouk Ramji: The majority of East Africans live outside urban centers, but much of the investment in connectivity historically moved in the opposite direction.

Initially, this represented a market opportunity. But over time, it became much more purposeful.

When you see a nurse accessing specialist healthcare remotely, a farmer checking commodity prices before heading to market, or a student accessing learning resources previously unavailable to them, you realize communities don’t lack ambition or capability.

They lack access.

What impact has Mawingu had so far in the communities it serves?

Farouk Ramji: We’ve seen remarkable transformation across communities, schools, health facilities, and cooperatives.

Farmer cooperatives have significantly reduced internet costs while gaining access to real-time market information and digital financial services.

Schools and TVET institutions are modernizing learning through online educational content and practical digital tools.

We’ve also seen powerful results in special-needs education, where teachers are using digital tools and AI-powered platforms to create more inclusive learning experiences.

Across all these examples, the message remains consistent: when communities gain meaningful connectivity, the internet stops being a luxury and becomes an equalizer.

Kenya has made progress in mobile connectivity, but many people remain offline or under-connected. What is the biggest challenge to universal internet access?

Farouk Ramji: Universal internet access is achievable, but several challenges remain interconnected.

The first is infrastructure costs. Building towers, laying fibre, and deploying equipment across geographically challenging and low-density regions requires significant investment.

Affordability also remains a major issue, both in terms of internet costs and device access.

Perhaps most importantly, communities need to understand how connectivity creates value in their lives. Digital inclusion requires infrastructure, devices, skills, relevant content, and awareness all working together.

Connectivity alone is necessary, but never sufficient.

How is Mawingu helping bridge the digital divide for schools, businesses, and young people?

Farouk Ramji: We focus on three things: access, affordability, and value.

We extend connectivity throughout institutions rather than simply connecting one office or building.

We subsidize connectivity where possible and pair access with digital skills training programs that help communities understand both opportunities and risks online.

The goal is to make internet connectivity as essential and sustainable as electricity or water.

What opportunities do you see for startups, SMEs, creators, and young innovators in a more digitally connected Kenya?

Farouk Ramji: We’re approaching an important inflection point.

Reliable and affordable connectivity opens entirely new possibilities for SMEs, creators, and entrepreneurs.

Businesses can access digital payment systems, online markets, and cloud-based tools. Young people can pursue online education, freelance work, content creation, and entrepreneurship.

I believe the next wave of Kenyan innovation won’t just come from Nairobi’s tech hubs. It’ll come from places like Laikipia, Nyeri, Kitale, and communities that historically lacked access to these opportunities.

What technologies will shape the future of internet access in Kenya and Africa?

Farouk Ramji: We’ll increasingly see hybrid connectivity models where fibre, fixed wireless, and satellite technologies work together depending on location and population density.

AI will also become increasingly important in network optimization, customer support, and resource management.

But infrastructure alone won’t define the future. Device affordability, digital literacy, and online safety will matter equally because getting online is only the first step.

How do you view increasing competition in affordable broadband, especially from larger players?

Farouk Ramji: I welcome competition because it shows the market is maturing and more organizations recognize the opportunity in underserved communities.

The connectivity gap remains large enough for multiple players.

Our advantage has always been our purpose-built infrastructure, local presence, and mission-driven approach.

Competition pushes everyone to become more innovative and customer-focused, ultimately benefiting the people we’re all trying to serve.

Looking ahead, what key milestones are critical to achieving Mawingu’s goal of impacting one million Africans by 2028, and what is your broader vision for Kenya’s digital future?

Farouk Ramji: First is continued network expansion across rural and peri-urban communities.

Second is strengthening our digital inclusion work by connecting more schools, health facilities, and community institutions while expanding skills development and access to devices.

Third is building additional value-added services that help entrepreneurs and SMEs create businesses on top of connectivity.

And finally, strategic partnerships with governments, NGOs, and organizations that share our vision.

My broader vision is simple: a Kenya where geography no longer determines access to education, information, markets, and opportunity.

Digital infrastructure is becoming as fundamental as roads or electricity. Reaching one million people by 2028 is an important milestone, but it’s only one step in a much larger journey toward a more inclusive digital future.

Stanbic Foundation, Microsoft Expand AI Skills Partnership Through National Training Initiative

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Stanbic Foundation and Microsoft are deepening their collaboration on digital workforce development through the rollout of the Microsoft Elevate AI National Skilling Initiative, an effort aimed at expanding access to practical artificial intelligence skills and strengthening digital readiness among communities and institutions.

The initiative, launched in partnership with Pathways Technologies and Konza Technopolis, has already trained 152 participants across multiple counties, focusing on equipping trainers and institutions with foundational and applied AI knowledge.

The partnership combines Microsoft’s technology and AI expertise with Stanbic Foundation’s established reach across youth networks, small businesses and community-based programs. Together, the organizations are seeking to broaden access to digital skills while creating pathways for employability and entrepreneurship.

“Digital literacy is one of the core pillars of Stanbic Foundation’s work,” said Mercy Githanji, Head of Stanbic Foundation. She said the organization has continued working with technical and vocational institutions to strengthen instructors’ ability to deliver digital skills training aligned with emerging workforce needs.

As businesses and institutions increasingly integrate AI into daily operations, organizations are also placing greater emphasis on workforce preparedness and practical technology adoption. Through county-level engagements and community platforms, the initiative is designed to bring training opportunities closer to underserved communities and learners outside traditional technology ecosystems.

“Through partners like Stanbic Foundation, we have been able to deliver training via county-level engagements and community-based platforms, expanding access beyond major cities,” said Winnie Karanu, AI Skills Director at Microsoft. She added that content has been adapted to address practical sectors such as agriculture, entrepreneurship and small business operations.

Stanbic Foundation said it has worked with partners since 2021 to provide digital skills training to women, youth and micro, small and medium-sized enterprises. Through its Future ni Digital platform, more than 250,000 learners have accessed digital skills training since 2019.

The latest initiative reflects a broader strategy by both organizations to move beyond digital literacy and toward practical AI capability-building that can support workforce development and future economic participation.

CEO Weekends: Emmanuel Uduebholo on Building Meaning at Scale, The Story Behind Thankeeu

For Emmanuel Uduebholo, CEO and founder of Thankeeu, workplace milestones often pass too quietly. Birthdays become rushed messages in group chats, work anniversaries become generic emails, and years of contribution can sometimes go unnoticed.

That disconnect felt bigger than it appeared. To Emmanuel, it represented a deeper problem: people investing time, energy, and commitment into organizations without feeling genuinely seen.

Thankeeu was created to solve that problem.

But Emmanuel’s journey toward building an employee recognition platform began far away from HR technology.

From Telecom Networks to Human Connections

Emmanuel Uduebholo began his career as a network engineer in the telecom industry, an experience that shaped the way he thinks about systems and problem-solving.

“In telecom, you learn very quickly that infrastructure is invisible until it breaks,” he says. “When it fails, people feel it immediately.”

That lesson stayed with him. The idea of building systems that work quietly in the background while powering meaningful experiences became a recurring theme throughout his entrepreneurial journey.

A turning point came in 2017 during his time at Hebron Startup Lab at Covenant University, an experience he describes as one of the most transformative periods of his life.

“Being surrounded by young people building things and solving real problems completely changed the way I viewed the world.”

While still in school, Emmanuel launched Mentorships.ng, a platform connecting students with mentors across industries. It became his first experience building something designed around human connection at scale.

“That was the first time I truly understood what it meant to create systems that bring people together,” he says.

He later worked on a smart card solution, an experience that introduced him to the realities of building physical products in Nigeria and the challenges of getting products into users’ hands.

Eventually, those experiences led him toward a different problem entirely.

The Problem Hidden Inside Workplace Culture

The inspiration for Thankeeu came from something simple: watching people be overlooked.

Emmanuel kept seeing situations where people who had invested years into a company reached birthdays or major milestones and received almost nothing in return.

“I kept seeing situations where someone who had genuinely invested years into a company would reach a birthday or important milestone and receive almost nothing,” he says. “Or they would get a generic message that felt copied and pasted.”

For him, the issue was larger than celebration. It was about recognition.

As companies grow, making people feel individually valued becomes increasingly difficult. How do fifty people feel genuinely seen inside a company of five hundred?

That question became the foundation for Thankeeu.

What Thankeeu Does

Thankeeu is a group card and gifting platform designed to help teams celebrate birthdays, promotions, work anniversaries, new hires, farewells, and other important moments.

The process is intentionally simple.

HR teams or managers set up their organizations and import employee information into the platform. Thankeeu then automatically detects upcoming occasions, creates digital cards, and notifies colleagues to contribute personal messages.

On the day of the celebration, the recipient receives a personalized digital card filled with messages from teammates. Teams can also contribute financially to a collective gift pot, which recipients can withdraw directly into their bank accounts.

Behind the scenes, most of the work is automated.

“You set it up once and it runs itself,” Emmanuel says. “The experience feels warm and personal, but the operation is completely automated.”

More Than Social Media

Some might wonder whether platforms like LinkedIn or WhatsApp already serve this purpose.

Emmanuel sees a clear distinction.

“Social media and Thankeeu are solving different problems,” he says. “When you post ‘Happy Birthday’ on LinkedIn, you’re performing publicly. When you sign a Thankeeu card, you’re writing something personal to someone specific.”

He describes the difference in simple terms:

“We’re not in the attention economy. We’re in the meaning economy.”

That message appears to resonate with users. Although still in the early stages, feedback from companies using the platform has been encouraging.

“When someone opens a card and finds thirty thoughtful messages from colleagues, you immediately understand why it matters,” he says.

Building for African Workplaces

Building Thankeeu has also meant building for the realities of African businesses.

Emmanuel says creating software for Nigerian companies required a different set of assumptions from products built in Silicon Valley.

“Things like bank transfer reliability, WhatsApp as a communication channel, or the reality that an HR manager may also be handling operations and administration — these realities shape the product.”

Thankeeu initially launched as a consumer product, allowing anyone to create group cards for friends and colleagues. That experience generated valuable user insights before the company expanded into its enterprise offering, Thankeeu for Teams.

The transition also brought important lessons around enterprise sales, implementation, and organizational change.

“The most valuable moments were conversations with HR leaders who challenged our assumptions,” he says. “Every pushback made the product better.”

Looking Ahead: Recognition Powered by Intelligence

For Emmanuel, the long-term vision extends beyond digital cards and gifting.

Today, Thankeeu automates reminders and celebrations. Tomorrow, he imagines a system capable of understanding company culture and identifying meaningful moments before people even notice them.

“We want the system to understand context,” he says. “Maybe it recognizes when someone deserves acknowledgment or creates a personalized welcome experience for a new employee.”

Artificial intelligence will play a role, but with practical intent.

Current AI initiatives include helping users generate thoughtful messages when they struggle with what to write and building systems that identify celebration opportunities automatically.

“The goal isn’t AI for the sake of AI,” he says. “It’s using technology to help people feel seen at the right moment.”

For now, the company continues to grow while remaining largely bootstrapped, prioritizing product-market fit before aggressive fundraising.

As Thankeeu looks toward the future, its mission remains simple: helping organizations scale recognition without losing the human element that makes it meaningful.

Because sometimes, being seen matters more than simply being noticed.

Finding Focus: A Strategic Approach to Cybersecurity for Small and Medium Companies

Small and medium-sized businesses (SMBs) hold valuable data, serve as entry points into larger supply chains and often lack the cybersecurity defences of enterprise organisations. These facts alone make SMBs an attractive target for cyberattacks. Some of their top challenges includes the rise of commoditised ransomware, phishing attacks, and staff shortages. Each of these issues poses a significant risk and overwhelms lean teams.

The good news is that none of them require an enterprise budget to address. The solution in each case is the same: reduce complexity, consolidate visibility and build on what your existing team can realistically manage.

Challenge 1: The commoditisation of ransomware

Ransomware was once the domain of sophisticated, well-resourced criminal groups. That is no longer the case. The rise of Ransomware-as-a-Service (RaaS) means that relatively low-skilled cyber attackers can now purchase pre-built ransomware kits and deploy them against businesses of any size.

For SMBs, this shift is significant. Ransomware groups have also become more targeted and financially precise, calculating their demands based on what a victim can plausibly pay. Around half of organisations globally now consider ransomware their top cyber risk, according to the World Economic Forum.

Addressing this requires a layered approach rather than a single tool. Anti-ransomware protection driven by machine learning can block known threats automatically, while AI-powered behavioural analytics can identify suspicious patterns that signature-based controls miss. Automating endpoint isolation limits how far an attack can spread, and alert aggregation helps teams investigate potential incidents without being overwhelmed. Regular data backups and user awareness training round out a strategy that treats ransomware as a constant, manageable risk rather than a catastrophe.

Challenge 2: Most breaches involve the human element

Phishing continues to be one of the most effective initial attack vectors, largely because it targets the one element no technical control can fully secure: human judgment. Modern phishing attacks are convincing, often exploiting legitimate-looking emails, trusted sender identities and, increasingly, AI-generated content that personalises messages at scale.

The statistics make uncomfortable reading. User execution and phishing techniques rank among the top three threats, according to Kaspersky’s “Anatomy of a Cyber World: 2026 Security Services Global Report”, which demonstrates that users are still a weak link. For many SMBs, the organisational structures and resources that large enterprises use to build a strong human firewall simply do not exist.

An effective defence needs to work across three dimensions simultaneously:

Process controls, such as multi-person authorisation, for high-value transactions and tightly governed access to sensitive data, reduce the blast radius when someone does click.

People-focused training that is continuous rather than periodic, with automatic re-enrollment triggered by risky behaviour, turns mistakes into learning moments.

Technology that provides real-time scanning of emails, links and attachments, combined with behavioural controls that act after a click, provides the technical backstop.

None of these layers alone is sufficient, together though, they significantly reduce both the likelihood and the impact of a successful phishing attack.

Challenge 3: Staff shortages and the skills gap

Three-quarters of businesses globally consider the cybersecurity skills shortage a serious issue according to Kaspersky data. For SMBs the consequences are particularly acute. Most cannot compete for dedicated security talent, which means general IT staff often serve as the de facto first line of defence against sophisticated threats they were never trained to handle.

A dangerous middle ground exists. Advanced cybersecurity training is too specialised for IT generalists, while basic cyber hygiene programs don’t equip them to investigate or respond to real incidents. The result is that skilled attackers slip through gaps that a dedicated cybersecurity team might catch.

The sustainable response is to deliberately upskill existing IT staff into cyber first responders. For generalists and sysadmins, this means building practical skills in incident response fundamentals, secure cloud configuration and working effectively with EDR and XDR tools. IT teams benefit from training that helps them recognise and triage cybersecurity alerts, not just IT tickets.

Formalising security responsibilities in job descriptions helps ensure these capabilities are retained and developed over time and investment in training can help improve employee loyalty, reducing the churn that compounds the skills gap in the first place.

Building resilience without building complexity

The common thread running through each of these challenges is complexity. SMBs are making diligent efforts to take cybersecurity seriously, but they are facing difficulties in keeping pace with a threat environment that has evolved more rapidly than their tools and teams can manage. Adding more products rarely solves this problem, in fact it frequently deepens it, increasing alert volume, integration overhead and the risk of coverage gaps. The more effective path is consolidation, converging prevention, detection, response and awareness into platforms that are genuinely manageable by small teams. To protect against this wide range of threats targeting small and medium-sized companies, organisations can look to solutions such as  Kaspersky Next Optimum, which provides real-time protection, threat visibility and investigation and response capabilities spanning both EDR and XDR adapted for lean teams. Companies can choose another option to gain robust managed protection through a tailored MXDR solution if they don’t have time or resources to develop internal expertise.

When complexity decreases, resilience follows. Incidents are contained faster, downtime is reduced and teams regain the capacity to be proactive rather than permanently reactive. SMBs can explore how to enhance their security posture with Kaspersky’s expert guidance tailored specifically for their environment. With this knowledge they can enhance their processes and build a solid cyber resilience.

CedaPay Joins FasterCapital’s EquityPilot Program to Address Payment Frictions in Underserved Markets

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CedaPay, a payments orchestration startup targeting merchants in underserved markets, has joined FasterCapital’s EquityPilot support program as the company seeks to expand integrations and strengthen operational infrastructure ahead of broader commercial activity.

The Kenya- and Dubai-focused initiative will initially concentrate on product integrations, partner-led growth strategies, and compliance capabilities, according to a statement released Thursday. During the first 30 to 60 days of the engagement, FasterCapital and CedaPay will prioritize acquirer integrations, partner enablement, and compliance tooling.

The move comes as merchants across many emerging markets continue to contend with persistent operational challenges including payment failures, settlement delays, foreign-exchange costs, and fragmented payment systems. Such frictions can pressure margins and create barriers for businesses seeking to scale digital commerce activity.

CedaPay aims to address those issues by consolidating multiple payment service providers and settlement methods into a single infrastructure layer. The platform routes transactions across payment providers, supports failover capabilities designed to improve transaction continuity, and enables regional payment-method routing and USDC settlement options.

The company also offers a unified subscriptions API, a partner and affiliate commission engine, and merchant tools intended to increase visibility into balances, reserves, and settlement processes.

The timing may prove favorable as digital commerce activity expands across emerging markets while payment networks and local acquiring infrastructure continue evolving. Increased demand for faster settlement options and broader adoption of stablecoin-based payment rails have also created opportunities for payment orchestration providers seeking to simplify fragmented ecosystems.

Under the EquityPilot engagement, FasterCapital said it will provide execution support around integration priorities, introductions to ecosystem stakeholders, guidance on compliance processes and merchant KYC frameworks, and operational support tied to partnership growth models.

The initial work plan will focus on expanding acquirer coverage across priority markets, strengthening regional payment flows including mobile-money and bank-transfer routing, and improving compliance systems. The program will also emphasize measurable milestones intended to improve operational readiness and fundraising preparation, though no funding commitment was announced.

“We’re excited to support CedaPay through EquityPilot,” said Hesham Zreik, founder and chief executive officer of FasterCapital. “Our team will focus on execution milestones and connecting the startup with the right ecosystem stakeholders.”

Over the next three months, the companies said they expect to monitor integration progress, introduce partner onboarding capabilities, and refine merchant-facing transparency features such as balance visibility, statement reconciliation, and reserve scheduling.

Founded by William Odera, CedaPay provides payment orchestration infrastructure designed to improve reliability and settlement transparency for merchants operating in underserved markets.

FasterCapital, established in 2014, operates as a venture builder and startup incubator supporting early-stage companies through funding assistance, technical development, and business advisory programs. Its EquityPilot initiative is designed to help startups scale through mentorship, strategic guidance, and network access.

Paystack Rolls Out Paystack Index, an AI Checkout Tool in Nigeria

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Paystack is betting that the next evolution of digital payments in Africa may involve artificial intelligence agents completing transactions on behalf of users with the launch of Paystack Index, an early-access product designed to let consumers in Nigeria carry out routine transactions through supported AI assistants.

The product, developed by Paystack with support from its own TSG Labs, initially enables users to purchase airtime and mobile data, transfer funds through Zap, and order food from delivery platform Chowdeck. The system currently works with supported AI clients including ChatGPT, Claude, and OpenClaw.

The launch comes as technology companies globally race to move AI systems beyond chat interfaces and into tools capable of taking actions on users’ behalf. While most AI products have focused on generating content or answering questions, a growing number of companies are exploring “agentic” systems designed to execute tasks such as scheduling appointments, shopping, or processing transactions.

For payments providers, that shift presents both an opportunity and a challenge: enabling AI systems to initiate transactions while ensuring users remain in control of their finances.

“Paystack has always focused on helping businesses get paid safely and reliably, wherever their customers are,” Chief Executive Officer Shola Akinlade said in a statement. “As AI agents become a more common way for people to search, decide, and take action, we think checkout has to evolve too.”

The company said users would retain authority over what actions AI systems can perform through permissions and spending limits set by customers. Transactions are processed through Paystack’s existing payments infrastructure, while the company said it does not store card numbers, CVVs, PINs, or bank account credentials.

The rollout is initially limited to Nigeria as part of a controlled beta program that Paystack said will help it understand how consumers interact with AI-led commerce experiences and what infrastructure merchants may require as usage evolves.

The move also signals a broader ambition extending beyond traditional payment processing. Rather than simply powering checkout buttons on websites and mobile apps, Paystack appears to be positioning itself as infrastructure for AI-native commerce experiences.

Paystack currently serves more than 300,000 organizations across Nigeria, Ghana, South Africa, Kenya and Côte d’Ivoire.

Additional merchants, billers, features and African markets are expected to be added over time, according to the company.

Tunisia’s RoboCare Raises Fresh Capital to Scale AI Farming Platform Across Africa & Mideast

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Tunisian agritech startup RoboCare has secured a six-figure investment from venture capital firm 216 Capital, adding fresh momentum to a growing wave of African startups using artificial intelligence to tackle food production and climate challenges.

The funding will support the company’s expansion across Africa and the Middle East, strengthen its commercial operations, and enhance machine-learning models designed for different agricultural environments, RoboCare said.

Founded in 2020 in the southern Tunisian city of Sfax by entrepreneur Imen Hbiri, RoboCare develops precision agriculture software that combines satellite imagery, drone data, Internet-of-Things sensors, weather information and field expertise to help farmers monitor crop conditions and make operational decisions.

The company says its technology can detect crop stress and disease before visible signs emerge, allowing farmers to intervene earlier and reduce waste. RoboCare reports that field deployments have delivered water savings of as much as 35%, reduced agricultural input use by up to 25%, and increased yields by as much as 20%.

The investment comes as agricultural producers across North Africa and the Middle East face mounting pressure from climate volatility, water scarcity and rising production costs. Governments and agribusinesses in the region are increasingly turning to digital tools and predictive analytics to improve efficiency and strengthen food security.

Unlike broader agricultural platforms built for global markets, RoboCare says it has focused on crops central to regional economies, including olive trees, cereals and processing tomatoes. The company trains its models using localized datasets to account for the climate and soil conditions specific to North Africa and MENA markets.

RoboCare currently monitors several thousand hectares of farmland and has generated thousands of agronomic alerts for farmers and operators, according to the company. It has also built partnerships with institutional organizations and expanded its presence in international agritech ecosystems.

For investors, the deal reflects a wider shift in African venture capital beyond fintech and consumer applications toward technologies addressing infrastructure and productivity challenges in sectors such as agriculture, climate adaptation and food systems.

“Agriculture remains a strategic sector for both economic development and food security,” Hassen Arfaoui, Principal at 216 Capital, said in a statement accompanying the investment announcement.

Financial terms beyond the six-figure investment amount were not disclosed.

HaloBraid Raises $7 Million to Bring AI-Assisted Braiding Device to Professional Salons

Halo, a tech startup focused on products for textured hair, has raised $7 million in seed funding to commercialize HaloBraid, a device designed to help professional stylists complete braids faster and with less physical strain.

The Cambridge, Massachusetts-based company said Monday that the financing round was led by venture capital firm Seven Seven Six, founded by Alexis Ohanian, with participation from AlleyCorp and Bling Capital.

Halo says its patent-pending HaloBraid device can complete portions of the braiding process up to five times faster than traditional manual methods while allowing stylists to maintain control over the appearance and technique of each braid. Stylists begin the braid by hand and the device assists with the repetitive finishing work, according to the company.

The startup is targeting one of the most labor-intensive areas of the beauty industry. Hair braiding appointments frequently stretch beyond six hours, with demand for protective styles continuing to grow across consumer markets. Halo estimates that roughly 8 billion hours are spent globally on braiding each year.

Rendering of Halobraid

For salon professionals, the repetitive nature of braiding can create long-term physical stress, including hand and wrist injuries. The company argues that reducing those pressures could allow stylists to serve more customers without increasing workloads.

“Braiding is more popular than ever but the way we braid hasn’t changed,” Chief Executive Officer Yinka Ogunbiyi said in a statement. “We designed this with stylists, using their perspective to build a product that supports them, without replacing them.”

The company cited survey data of 2,000 braid wearers showing that 95% said they would braid their hair more frequently if the process required less time.

Investors view the company as an attempt to modernize a process that has seen little technological disruption despite representing a sizable industry opportunity.

“As an investor, I look for founders that see something broken that everyone else has accepted as fixed,” Alexis Ohanian, general partner at Seven Seven Six, said in a statement. He described braiding as a large market that has remained largely unchanged for centuries.

Halo plans to use the funding to advance product development, conduct additional testing with stylists, prepare manufacturing operations, and establish salon partnerships ahead of a planned commercial launch later this year.

Founded by Ogunbiyi, a biomechanical engineer and repeat hardware entrepreneur, Halo was inspired by her personal experience with braided hairstyles and the amount of time required to create them. Before founding Halo, Ogunbiyi co-founded consumer hardware company Desora and helped develop multiple patented products.

While HaloBraid is the company’s first product, Halo said it ultimately aims to build a broader portfolio of technology focused on improving care for textured hair.

The company is entering a beauty technology sector that has historically seen relatively limited investment in tools specifically designed for textured hair, a category that industry observers say remains underserved despite substantial consumer demand.

Daya Secures $2.4 Million to Expand Stablecoin Rails for African Cross-Border Payments

Daya, a startup building stablecoin-based payment infrastructure for African businesses, has raised $2.4 million in pre-seed funding as it seeks to simplify how companies move money across borders.

The round was led by Hivemind Capital, with backing from Lattice, Alliance, Globelink and Aptos Foundation, underscoring growing investor interest in blockchain-powered financial rails for emerging markets.

The company is targeting a longstanding friction point for African firms operating internationally. Businesses that import goods, pay overseas suppliers or manage multi-country operations often depend on fragmented systems spanning banks, foreign exchange providers and crypto services. That patchwork typically leads to delays, high costs and limited visibility over transactions.

Daya’s platform brings these functions into a single interface, allowing companies to receive payments, convert currencies and transfer funds globally. It uses stablecoins as the underlying layer and routes transactions across different rails to optimize for speed and cost.

The product includes virtual accounts in major currencies such as U.S. dollars, Hong Kong dollars and Chinese yuan, as well as APIs that enable other fintechs and platforms to integrate cross-border payment capabilities.

The startup was founded by Nigerian entrepreneurs Aleph L and Paul Joe, who previously built Helicarrier, an early crypto exchange and remittance platform backed by Y Combinator. Both founders have experience across global technology and payments firms, including Circle and Microsoft.

“The next phase of payments won’t just be about moving money, but about integrating it into business workflows,” Joe said. “We are building infrastructure that makes cross-border transactions as seamless and programmable as modern software.”

Investors are betting on the increasing role of stablecoins in global commerce, particularly in regions where access to hard currency remains constrained.

Aptos Foundation, which supports development on the Aptos blockchain, joined the round as a strategic investor, pointing to demand for faster settlement and improved dollar liquidity in emerging markets.

“Bringing payments, FX and treasury into one system can materially improve how businesses operate across borders,” said Ash Pampati, senior vice president at the foundation.

Globelink highlighted the scale of trade flows between Africa and Asia as a key driver. According to Afreximbank, trade between the two regions accounts for hundreds of billions of dollars annually, creating significant demand for efficient payment infrastructure.

The funding comes as Africa’s payments landscape undergoes broader change. The African Continental Free Trade Area is accelerating intra-African commerce, while new systems such as PAPSS aim to reduce reliance on traditional correspondent banking networks.

At the same time, stablecoins are increasingly being used as practical alternatives for cross-border settlement, particularly in markets facing currency volatility and limited liquidity.

Daya plans to deploy the new capital toward product development, regulatory licensing, corridor expansion and partnerships with financial institutions, as it positions itself to capture a share of Africa’s growing cross-border payments market.