Lua, a London-based startup building an operating system for collaboration between human teams and AI agents, has raised $5.8 million in a seed funding round led by Norrsken22, the company said on Thursday.
The round also drew participation from Flourish Ventures, 20VC, P1 Ventures, Phosphor Capital and Y Combinator, alongside angel investors including Privy CEO Henri Stern, Opendoor executive Kaz Nejatian and Nuitee CEO Med Benmansour.
Founded by Lorcan O’Cathain and Stefan Kruger, Lua aims to enable companies to build, deploy and manage AI “agent workforces” without requiring deep technical expertise.
O’Cathain previously served as COO at Kenyan-based 4G Capital and is a co-founder of Money254, adding to the company’s roots in Africa’s fintech ecosystem.
The platform provides a full-stack system that handles infrastructure, model orchestration, data integration and monitoring, allowing teams to focus on business logic. It offers both developer tools and a visual interface, enabling technical and non-technical users to collaborate on the same AI agents.
Since launching its developer platform in October 2025, Lua says it has recorded revenue growth of nearly 30% week-on-week. In February alone, more AI agents were built on the platform than in the entire period since launch.
The company plans to use the new funding to expand its developer ecosystem and grow its “Lua Implementation Network,” a community of partners deploying agent-based systems across global markets.
“The companies that will win over the next few years are the ones that build their agent workforce with the same intentionality as their human workforce,” CEO Lorcan O’Cathain said.
Investor Lexi Novitske, a general partner at Norrsken22, said Lua’s global footprint across Africa, Asia, the United States and Europe, as well as its experience in deploying agent systems, positions it strongly in the emerging category of AI-enabled work platforms.
Lua joins a growing number of startups seeking to define how businesses integrate AI agents into everyday workflows, as companies increasingly look beyond standalone tools toward systems that combine human and machine collaboration at scale.
Kenyan electric mobility firm BasiGo has begun local assembly of its electric vans, a move that could mark an early turning point in efforts to electrify Kenya’s dominant public transport sector.
The company said it has started assembling its Ma3e electric vans in partnership with Mombasa-based Associated Vehicle Assemblers (AVA) using Complete Knocked Down (CKD) kits. The first 22 locally assembled units are expected to be delivered between April and May.
Kenya’s public transport system is heavily reliant on matatus, operating within a broader vehicle fleet of more than 3 million registered motor vehicles, according to data from the National Transport and Safety Authority (NTSA). Industry estimates from Metros Kenya place the number of matatus in the tens of thousands, making the segment central to urban mobility and fuel demand.
BasiGo begins Local Assembly of Electric Vans in Kenya
BasiGo has commenced local assembly of its electric vans in Kenya – the Ma3e model, delivering the country’s first locally assembled electric vans. In partnership with Associated Vehicle Assemblers (AVA), a leading Kenyan… pic.twitter.com/Kij6cuwKOB
BasiGo’s Ma3e vans are designed for high-utilisation operations, with a range of up to 300 kilometres on a single charge (NEDC). The vehicles target public transport, school shuttles, corporate staff transport, airport transfers and hotel shuttle services.
The company has been running a small pilot fleet of electric buses in Nairobi through partner operators on commuter routes as it tests commercial deployment models. It has not announced any electric motorcycle deployments.
Over the past 10 months, BasiGo has also trialled two electric vans on intercity routes including Nyahururu–Nyeri–Nakuru and Nairobi–Thika, saying the pilots validated performance and supported a reservation pipeline of more than 500 units.
Analysts say local assembly could be a key step in lowering import dependence, improving service capacity and potentially accelerating adoption if financing and charging infrastructure scale in tandem.
While electric vehicles remain a small fraction of Kenya’s overall fleet, the matatu sector is viewed as a high-impact entry point due to its high daily mileage and fuel intensity.
BasiGo said it plans to deploy thousands of electric vans in the coming years, aiming to scale clean mobility and reduce fuel dependence as Kenya pushes toward lower transport emissions.
African payments technology firm Cellulant has appointed Anthony Hernandez as Chief Operating Officer to lead its push toward AI-enabled operations, as the company scales its presence across the continent.
Hernandez will oversee end-to-end customer experience, including onboarding, transactions and growth, while advancing operational automation and data-driven execution, the company said on Tuesday.
The appointment comes as Cellulant strengthens its operational infrastructure to support growing transaction volumes and enterprise clients using its single API platform, which connects businesses to multiple African markets and payment methods.
“In payments today, trust is the real currency, and operational excellence is what earns it,” Chief Executive Officer Peter O’Toole said in a statement, adding that the company is focused on embedding discipline and consistency across its operations.
Hernandez brings experience spanning traditional finance and digital banking. At GE Capital, he worked within large-scale, highly regulated financial systems with a focus on risk management, compliance and operational execution, while his time at Xapo Bank exposed him to digital-first, real-time platforms combining fiat and cryptocurrency services. The combination positions him to oversee complex operations and support Cellulant’s push toward AI-driven, scalable and compliant payment systems across its markets.
He has also held senior roles at Demica (now part of FIS), where he led digital transformation programmes, regulatory approvals and global operating teams.
At Cellulant, he will lead the development of an automated, data-driven operational framework aimed at improving real-time visibility into transactions and settlements, while strengthening compliance and risk management systems across regulated markets.
“Payment flexibility starts with access to the right options and is grown by how reliably those options work in practice,” Hernandez said, adding that the company will focus on delivering seamless and reliable payment experiences while providing customers with insights to support growth.
Cellulant operates across multiple African markets, serving enterprises and global businesses seeking integrated payment solutions.
Sama, a US and Nairobi-based data annotation firm Sama said on Thursday it will lay off more than 1,100 employees at its Nairobi office after a major client, Meta, ended a key contract, marking one of the largest job cuts in Kenya’s growing artificial intelligence outsourcing sector.
The company said it had received formal notice from Meta to terminate the engagement and had issued redundancy notices to affected staff in compliance with Kenya’s Employment Act.
“The redundancy process will affect 1,108 current employees, a significant number of whom are on the specific terminated workstream,” Sama said in a statement.
Sama added it had engaged the client in an effort to sustain the Nairobi operations, but the discussions were unsuccessful.
The layoffs come ahead of the formal conclusion of the client program later this month and underscore the vulnerability of outsourced digital work in emerging markets to shifts in demand from global technology firms.
Sama, which provides data annotation services used to train artificial intelligence and machine learning models, said it would support affected workers with counselling, medical benefits and other transition assistance.
“As is standard in our industry, client programs evolve, and we work closely with our partners to manage these transitions responsibly,” said Annepeace Alwala, Sama’s country lead and vice president for global delivery.
She added the company’s immediate priority was supporting employees through the transition while maintaining continuity in its broader operations.
Kenya has positioned itself as a hub for outsourced digital labour, including content moderation and AI training data services, attracting global firms seeking lower-cost, English-speaking talent. However, the sector has faced scrutiny over job security and working conditions tied to short-term contracts.
Sama said it remains committed to its core business of delivering data annotation and model evaluation services and maintaining standards in data security and responsible AI.
UAE-based Homegrown Ventures has closed its first fund at $22.8 million, exceeding its $20 million target, as it seeks to invest in early-stage consumer packaged goods and fast-moving consumer goods startups across emerging markets.
The fund will focus on “better-for-you” brands in food and beverage, health and wellness, personal care, home care and lifestyle categories across the Middle East and North Africa, South Asia and select international markets.
Founded by former executives from Unilever, Coca-Cola and Mondelez, Nader Amiri and Ahmad Shamieh, the firm positions itself as a specialist investor in a consumer sector long dominated by multinational brands.
Homegrown Ventures said it has already deployed capital into five startups prior to final close, including PawPots and Plaay.
“With over 55% of the MENA population under 35, we are witnessing a structural shift that most investors are still sleeping on,” said Nader Amiri, general partner at Homegrown Ventures.
The firm said the regional consumer market is shifting toward healthier and locally built brands as supply chains tighten and demand for transparency grows.
“What separates Homegrown from everything else in this market is that founders are getting partners who have negotiated with the same retailers, built the same supply chains, and made the same mistakes,” said Ahmad Shamieh, general partner.
Homegrown Ventures will continue deploying capital into early-stage consumer brands across MENA, South Asia and select global markets.
Renew Capital has launched a new initiative, Renew Venture Lab: The EmFi Series, aimed at supporting African technology founders building embedded finance solutions, the company said on Thursday.
The programme was unveiled at GITEX Africa 2026 in Marrakech during an investor event hosted alongside AfricaNext BPI. Applications opened on April 9 and will run through April 30, with founders able to apply online.
The EmFi Series targets startups developing financial products that integrate directly into non-financial platforms, a model seen as key to expanding credit access across the continent.
Africa’s small and medium-sized enterprises (SMEs), which account for roughly 90% of private sector businesses, face a significant financing gap. The continent represents an estimated $330 billion untapped credit opportunity, yet fewer than 20% of SMEs in sub-Saharan Africa can access loans from traditional financial institutions.
Renew Capital said advances in artificial intelligence and data analytics are enabling startups to leverage customer data to assess creditworthiness, positioning them to offer lending solutions where banks have struggled.
“Africa’s most important financial story is not being written by banks,” said Matthew Davis, co-CEO of Renew Capital. “It’s being written by tech founders who understand their small business customers better than traditional lenders.”
The firm added that the programme will support selected startups in building or refining credit products, with the potential for investment in top-performing companies.
Renew Capital is an Africa-focused investment firm backing early-stage startups across the continent.
Egypt-based Raedbots has launched as a domestic manufacturer of industrial robots, aiming to tap rising demand for automation in the Middle East and Africa with lower-cost, locally built systems.
Founded in 2026 by Mohamed Ibrahim and Hamza El-Sahiti, the company develops AI-powered robotic arms and automation solutions for applications such as welding, CNC machine tending, material handling and warehouse operations.
Raedbots said it designs and builds its technology بالكامل in-house at its Cairo facilities, covering hardware, electronics, control systems and artificial intelligence software, in contrast to imported or white-labelled systems commonly used in the region.
The company estimates its locally manufactured robots can cut costs by up to 50% compared with imported alternatives, potentially lowering barriers to adoption for manufacturers.
“We are providing integrated robotic solutions that help factories optimise productivity, reduce costs and enhance safety standards,” Chief Technology Officer Mohamed Ibrahim said.
Raedbots is part of NVIDIA’s Inception programme, giving it access to advanced AI and simulation tools to accelerate product development. It is also supported by Egypt’s Technology Innovation and Entrepreneurship Center (TIEC), a government-backed initiative to boost the country’s deep-tech sector.
The startup said it is working with factories and research institutions to deploy its systems as it expands its product portfolio, which will include collaborative robots and high-speed automation platforms.
Raedbots aims to build a regional robotics manufacturing base as industries across the Middle East and Africa increasingly turn to automation to improve efficiency and competitiveness.
Africa Tech Summit London 10th edition is set to hold at the London Stock Exchange on May 29, bringing together investors, founders and policymakers to discuss the next phase of growth in Africa’s technology sector.
The event is expected to host more than 350 participants, including entrepreneurs, venture capitalists and industry leaders, focusing on sectors such as fintech, artificial intelligence, climate technology and digital infrastructure.
The summit comes amid renewed momentum in Africa’s startup ecosystem. African tech ventures raised $4.1 billion in 2025, up 25% year-on-year, according to Partech, with debt financing playing an increasingly significant role.
“Over the past decade, we’ve seen African tech evolve from survival-focused startups to businesses scaling across borders and driving trade,” said Andrew Fassnidge, Managing Director of Africa Tech Summit.
He added that while the sector has experienced volatility, including company failures and funding challenges, it is entering a more mature phase marked by mergers, acquisitions and exits.
Fintech continues to attract the largest share of investment, though activity is expanding into sectors such as cleantech, healthtech and enterprise software. Organisers said startups across industries including AI, blockchain, agritech and cybersecurity have been invited to apply for the summit’s investment showcase.
The showcase aims to connect high-growth ventures with investors offering not just capital, but also strategic support, networks and regulatory expertise.
As competition for investment intensifies, founders are increasingly seeking partners who can provide market access and operational guidance in addition to funding.
Africa Tech Summit, launched in 2016, has hosted events across Africa, Europe, North America and Asia, reaching more than 30,000 delegates from over 80 countries.
This year’s programme will include panel discussions, keynote speeches and networking sessions focused on innovation, cross-border trade and long-term investment opportunities across the continent.
Duplo, a financial operating system for African businesses, has partnered with South African payment gateway Ozow to help companies automate payments, invoicing and expense management on a single platform, the firms said on Monday.
The integration combines Ozow’s instant electronic funds transfer (EFT) infrastructure with Duplo’s back-office financial tools, enabling businesses to reconcile payments in real time and reduce manual administrative work.
South African businesses, particularly small and medium-sized enterprises, spend between 15 and 20 hours each month on manual financial processes, according to recent research cited by the companies. For larger firms, this can exceed 120 hours monthly, with inefficiencies leading to revenue losses of up to 5% due to unmatched transactions.
By automatically linking incoming payments processed through Ozow to invoices within Duplo’s system, the companies said the solution could eliminate up to 90% of manual data entry and significantly reduce reconciliation delays.
The partnership also allows businesses to manage outgoing payments, monitor corporate spending and handle vendor payouts within a unified dashboard, offering a broader view of financial operations.
“We are excited to join forces with Ozow to help businesses in South Africa scale faster and with fewer administrative headaches,” said Tunde Akinnuwa, Duplo’s co-founder and chief operating officer. “By bridging the gap between payment speed and back-office accounting, we are turning payment operations into a competitive advantage.”
Ozow Chief Growth Officer Catherine Korsten said the collaboration would extend the company’s payment capabilities to businesses seeking to optimise collections and improve cash flow.
Duplo counts companies such as Maersk, DP World and Baobab among its clients, while Ozow provides payment services to major South African merchants including Takealot, Mr D Food and Superbalist.
Ozow, founded in 2014, offers a range of digital payment products including pay-by-bank, card payments and instant refunds, and is licensed by the Payments Association of South Africa.
Pan-African lender Ecobank Group reported a 21% rise in profit before tax to $801 million for the year ended December 31, 2025, driven by strong growth across its corporate, investment, and consumer banking businesses.
Net revenues climbed 17% to $2.45 billion, supported by higher client activity, increased trade volumes, and expansion in payments and lending, the bank said on Tuesday.
Corporate and Investment Banking led the performance, with profit before tax surging 40% to $697 million, buoyed by trade finance, cash management and capital markets activity. Consumer and Commercial Banking also posted solid gains, with profit before tax up 27% to $480 million on stronger lending and deposit mobilisation.
Customer deposits rose by $4.9 billion to $25.3 billion, while loans increased to $12.8 billion, reflecting growth in trade finance and digitally enabled lending.
Ecobank said its cost-to-income ratio improved to a record 48.3% from 52.8% a year earlier, as revenue growth outpaced expenses. Return on tangible equity stood at 27.8%.
Regionally, Central, Eastern and Southern Africa was the fastest-growing segment, while West Africa remained a key profit driver.
Asset quality weakened during the year, with higher non-performing loans in Nigeria linked to legacy exposures and the end of regulatory forbearance. The bank increased its expected credit loss reserves to 7.8% of gross loans from 5.7%.
The group’s capital adequacy ratio remained strong at 16.7%, above regulatory requirements.
Ecobank’s board recommended a dividend payout of $40 million, or 0.16 U.S. cents per share, subject to shareholder approval.
Chief Executive Jeremy Awori said the results reflect continued execution of the bank’s Growth, Transformation and Returns strategy, alongside investments in digital channels and customer experience.
South African energy technology firm Plentify and property developer Balwin Properties have deployed 7,500 smart geyser controllers across 13 residential estates in an effort to reduce peak electricity demand and ease pressure on the national grid.
Electric water heaters account for up to 40% of household electricity consumption, making them one of the largest residential energy loads, according to Balwin Properties.
The devices, installed across completed developments, optimise when water is heated based on household demand patterns, solar energy availability and time-of-use tariffs, shifting consumption away from peak periods.
Data from the deployment showed a 46% reduction in peak electricity demand and a 36% decline in short-term demand spikes, the companies said. Solar energy use for water heating increased by 79%, while more than 1,400 tonnes of carbon emissions were avoided.
The system has also generated over 1 million rand in cumulative savings for residents.
South Africa continues to face electricity supply constraints, with efforts largely focused on expanding generation capacity. However, managing demand at distribution level is increasingly seen as critical to stabilising the grid.
“Ensuring power is available where and when it is needed is as important as how it is generated,” Balwin Managing Director Matthew Whalley said.
By lowering peak demand, some participating estates have qualified for load curtailment programmes run by Eskom and municipalities, reducing exposure to power cuts without the need for battery storage.
The coordinated systems effectively function as a virtual power plant, allowing households to collectively shift electricity usage.
As renewable energy capacity expands, technologies that align consumption with supply are expected to play a growing role in stabilising power systems.
The Galaxy S26 Nightography and the Visual Language of the After-Hours City
There is a specific kind of energy that only exists after the sun goes down. In a city like Nairobi, the “9-to-5” is only half the story. The real pulse of the city often skips a beat until the streetlights flicker on, giving way to a world of late-night artisans, chefs, and digital creators who find their best light long after the offices have closed. Historically, however, this nocturnal world was notoriously difficult to share with the rest of the world. The grain, the blur and the lost details of a low-light shot often meant that the best moments of the night stayed in the night.
With the arrival of the Galaxy S26, that barrier is disappearing. The latest evolution of Nightography is all about capturing the vibe of the city with the same clarity we’ve always had during the day. It’s a tool that is finally keeping pace with the city’s after-hours creative class. In the past, mobile photography in low light was a game of compromises. To let in enough light, sensors had to stay open longer, leading to blurred movement, or they had to artificially boost the gain resulting in the digital noise that flattens an image’s texture. For an artist or entrepreneur, this was an obstacle to professional branding.
In the modern lifestyle, visibility is everything. The quality of what you capture matters. The Galaxy S26 solves this through a massive primary sensor and an intelligent AI Image Signal Processor that handles the tricky physics of dark environments in real-time. Instead of a washed-out, grainy photo, the S26 preserves the rich textures of the scene against the black sky. For the urban creator, this means your social currency no longer devalues once the sun sets. You can produce professional-looking content on the fly, making spontaneous evening moments look like a high-budget production.
Beyond the aesthetics, there’s a practical side to this tech. The city’s night-time economy is fueled by people who work while others sleep. By providing a camera that can actually “see” in the dark, the Galaxy S26 is giving these businesses the ability to tell their stories. When you can capture the steam rising off a plate of street food or the intensity of a drummer’s performance in a basement club with 4K precision, you’re doing more than just taking a photo. You’re validating a lifestyle. The Galaxy S26 ensures that the city’s after-dark culture is no longer a dark spot on the map, but a vibrant, high-definition playground that’s always ready for its close-up.
The Galaxy S26 changes the game for anyone working after dark. Now, you can take professional-grade 4K video and sharp photos without needing extra lights or expensive gear. This technology turns challenging low-light environments into high-quality visual assets, making the night-time hustle look as polished and professional as any daylight office.
Zerobionic is developing assistive robotics solutions aimed at improving independence for people with disabilities, targeting a gap in accessible technology across the continent.
Qualcomm said the fourth edition of the programme, part of its Africa Innovation Platform, drew more than 1,200 applications from over 45 countries. The initiative supports early-stage startups working on technologies such as artificial intelligence, smart systems and connected devices.
Startups in the cohort will receive mentorship, engineering support and training on intellectual property, with those completing the programme eligible for stipends of up to $5,000 and potential funding through Qualcomm’s social impact initiatives.
“The quality and ambition of this year’s cohort reflect the rapid growth of Africa’s innovation ecosystem,” said Wassim Chourbaji, Qualcomm’s senior vice president and president for the Middle East and Africa.
The programme is run in partnership with the African Telecommunications Union (ATU). Other selected startups come from countries including Nigeria, Ghana, Uganda, Tanzania, Zambia, Namibia, Zimbabwe and the Republic of the Congo.
The vehicle insurance industry in the UAE is going through a noticeable shift. What was a process with many requirements like paperwork, office visits, and long waiting times has become easier and faster now due to digital platforms that are reshaping how people deal with car insurance.
Many drivers in UAE realise the difference nowadays. Steps to get insurance that used to take days can now be completed in minutes, often from home with just a smartphone and this transformation is changing expectations across the entire insurance experience.
In the past, getting vehicle insurance meant visiting multiple offices, speaking to insurance companies and agents, and dealing with physical documents.
The good news is that you no longer have to go through all of this to get insured because of AI and Technology that is Changing Car Insurance in the UAE, Digital platforms have simplified this process today by:
Browse multiple insurance options in one place
Compare coverage details side by side
Get instant quotes based on their profile
Complete the purchase online without paperwork
Speed is one of the most significant advantages of digital platforms when obtaining vehicle insurance. Instead of waiting for responses and approvals the traditional way, which can lead to delays, users now receive information electronically and instantly without needing to be physically present.
You might wonder how this is possible. Well, advanced technological systems that utilize artificial intelligence are now able to analyze user data, such as driving history, vehicle type, and usage patterns, to generate instant quotes. This presents users with numerous options, allowing them to make an informed decision.
This process not only benefits users but also insurance companies, whose efficiency improves thanks to the rapid electronic procedures, enabling them to provide greater customer support.
Policy details, coverage limits, and add-ons are now easier to review before making a decision.
Users now have greater control over their documents through mobile applications, allowing them to easily:
Upload documents electronically
Update personal information
Purchase policies and download them digitally
Renew coverage
Digital platforms are now professionally utilizing data to design vehicle insurance policies in the UAE that cater to individual needs as well as those of institutions and companies.
For example, a driver who uses their car lightly on a daily basis will have less insurance requirements than drivers who travel long distances or are exposed to some level of risk.
Instead of being forced to choose a generic package that may not suit them, drivers can now select a plan that fits their budget and individual needs, allowing for more tailored coverage and cost-effectiveness.
Digital platforms have transformed vehicle insurance in UAE, not only in choosing the right plan but also in providing seamless claims and support services through technology and artificial intelligence.
Previously, claims processing involved potentially cumbersome stages and long waiting periods. Now, digital platforms offer a much simpler process, including:
submitting car insurance claims online
uploading photos and documents
expediting approval procedures
tracking the status of claims until processing is complete.
This digital transformation in claims processing is a radical shift for many, especially in situations requiring rapid response, such as accidents.
To further facilitate the insurance sector through technology, mobile applications powered by digital platforms are designed to be simple and easy to use, from browsing quotes to claims, all with just a few clicks.
Despite the advantages that digital platforms have brought to the UAE’s car insurance sector, this digital transformation may present some challenges.
One unusual aspect is that some users may not feel comfortable with the electronic process and instead prefer direct interaction, which makes them feel more secure about their data privacy.
However, this does not prevent the shift towards digital insurance platforms from growing, accelerating, and evolving. A better user experience is expected to emerge through the use of artificial intelligence technologies.
Drivers who use their vehicles less or drive more safely benefit from lower insurance premiums.
Instead of paying a fixed price for coverage that a driver may not need based on their driving habits, thanks to technological advancements and digital platforms, vehicle insurance pricing in the UAE is now more closely linked to actual driving behavior.
Instead of navigating between different platforms, digital car insurance platforms allow users to manage everything related to their vehicles from one place by:
Purchasing insurance entirely online
Linking insurance to car financing options
Accessing roadside assistance and maintenance services
Customer service has become more seamless with the integration of artificial intelligence. Instead of relying solely on call centers, branch visits, insurance companies, or agents and brokers to understand vehicle insurance requirements.
Many digital platforms now use AI-powered chat systems to handle frequently asked questions, answer inquiries about insurance policies, coverage limits, and claims status updates.
Digital platforms provide assistance in automatically renewing vehicle insurance in the UAE by sending advance notices before expiry, or confirming pre-filled policy data to speed up the insurance renewal process, thus reducing the occurrence of fines or interruption in coverage.
Conclusion
Digital platforms have revolutionized the motor insurance sector in the UAE, making the experience more transparent, flexible, and responsive to user needs.
While some challenges and areas still require improvement, this digital experience has made insurance a seamless and accessible process, easily managed through mobile applications. This includes everything from obtaining and comparing quotes and purchasing policies online to claims and renewals. Further AI-powered technologies are expected to enhance the user experience in the insurance sector.
South Africa-founded startup Refiant AI has raised $5 million in seed funding to develop technology aimed at reducing the energy and computing costs of artificial intelligence systems.
The round was led by California-based climate technology investor VoLo Earth Ventures, the company said, without disclosing its valuation.
Founded in 2025 by Viroshan Naicker, Siddharth Gutta and Mathew Haswell, Refiant AI builds tools that compress and restructure AI models to make them more efficient. The company says its technology lowers the computational requirements of AI systems while maintaining performance, allowing them to run on smaller devices or local infrastructure.
The funding will be used to expand its platform, hire engineers and deepen partnerships with enterprise customers, the company said.
The investment comes as demand for AI drives a surge in spending on data centre infrastructure. Technology companies including Microsoft and Meta have committed tens of billions of dollars to expand capacity for AI workloads.
That growth has raised concerns over energy consumption. Data centres are among the fastest-growing sources of electricity demand globally, with projections showing usage could more than double in the next decade as AI adoption increases.
Refiant AI said its approach offers an alternative to scaling AI through larger infrastructure.
“AI’s growing energy footprint is one of the most urgent challenges in the climate space,” co-founder Siddharth Gutta said. “Our approach is to make the AI itself more efficient.”
The company said its technology could be particularly useful in regions with limited computing resources or high cloud costs, including for sectors such as banking, telecommunications and government services.
Refiant AI is in early discussions with multinational technology firms as it seeks to expand its customer base.
“AI’s biggest constraint isn’t demand — it’s energy,” said Joseph Goodman, managing partner at VoLo Earth Ventures. “Refiant’s approach focuses on efficiency rather than brute-force scaling.”
Saudi Arabia-based edtech startup GAGA has raised $2.5 million in a pre-Series A funding round led by Phoenix Venture Partners, bringing its total funding to $4.2 million.
Founded in 2021 by Abdullah Alkharsani and Eyad Alshabaan, GAGA provides live, interactive online education for students aged 4 to 18. The platform offers more than 1,000 programmes across 200 subjects, combining academic and skills-based learning through real-time teacher engagement.
The company differentiates itself from traditional recorded-content platforms by focusing on live, gamified sessions that aim to improve student engagement and learning outcomes.
GAGA is also developing AI-powered tools to personalise learning journeys, assess student performance and identify knowledge gaps, enabling more tailored education pathways.
The new funding will be used to expand its teacher network, strengthen its technology infrastructure and scale Arabic-language educational content across Saudi Arabia. It will also support the continued development of its AI capabilities.
GAGA is positioning itself as an alternative to private tutoring and passive digital learning platforms in the Kingdom.
Kenya’s Office of the Data Protection Commissioner has opened an investigation into the use of Ray-Ban Meta smart glasses, citing growing concerns over privacy, surveillance, and the potential misuse of personal data in artificial intelligence training.
The regulator said it had initiated suo moto proceedings following reports that the AI-powered wearable devices may be capturing and processing personally identifiable information without adequate user consent, raising questions about compliance with Kenya’s data protection laws.
The inquiry comes after a formal petition by The Oversight Lab, which earlier in March called for scrutiny of the glasses’ surveillance capabilities and their broader human rights implications.
“The ODPC is taking this matter seriously and has decided to investigate,” said Mercy Mutemi, Executive Director at The Oversight Lab, who urged authorities to ensure a transparent and consultative review process. She added that the findings could set a precedent for how Kenya governs emerging digital technologies.
Public pressure has intensified, with more than 150 organizations and individuals backing calls for an inquiry and demanding greater accountability from both regulators and technology firms.
Concerns escalated further following local reports alleging that an individual used the smart glasses to secretly record women without their consent, an indecent incident that has amplified fears over the misuse of discreet recording features embedded in wearable devices.
Separately, international media investigations have raised questions about how data collected through such devices is processed. Some reports suggest that footage captured globally may have been reviewed in Nairobi by contracted workers, including sensitive and private recordings.
Regulators ‘playing catch-up’ on wearables
According to Maria Buza, Senior Policy Analyst at Digital Policy Alert, existing data protection frameworks including Kenya’s apply in principle to wearable technologies, but were not designed with always-on, body-worn devices in mind.
“These frameworks regulate the processing of personal data regardless of the device used,” Buza said. “The challenge lies in their level of specificity, particularly for technologies that continuously generate and infer data beyond traditional contexts.”
She noted that wearable devices can capture sensitive personal data such as biometric identifiers and behavioural patterns, making compliance more complex especially when data is collected passively in public or semi-public spaces involving individuals who are not aware they are being recorded.
Traditional consent models, she added, assume a clear relationship between users and data controllers, an assumption that breaks down when devices collect data continuously and from bystanders.
Maria Buza, Senior Policy Analyst at Digital Policy Alert
“Obtaining consent from all affected individuals may not always be feasible,” Buza said, pointing to the need for additional safeguards such as transparency measures, data minimisation, and privacy-by-design systems.
Global policy response taking shape
Buza pointed to emerging regulatory responses globally, noting that policymakers are beginning to adapt frameworks to address wearable surveillance risks.
In Switzerland, authorities have issued guidance on connected devices, warning that covert recording via wearables could constitute an offence. Brazil and parts of the United States are also considering laws requiring visible or audible recording indicators and stricter safeguards for AI-enabled glasses.
“These developments suggest a shift towards complementing consent with stronger transparency requirements and default safeguards,” she said.
Digital Policy Alert database provides a growing body of evidence tracking how governments are responding to such challenges. The platform monitors regulatory developments across G20 economies including the European Union and its member states as well as Switzerland and several Southeast Asian countries such as Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
More recently, it has expanded coverage in Africa, tracking how countries including Algeria, Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria, and Rwanda regulate the digital economy and enforce emerging rules.
The database also tracks international cooperation frameworks addressing the digital economy, including those focused on artificial intelligence governance.
Cross-border data risks under scrutiny
The investigation also highlights concerns around cross-border data processing particularly where sensitive or non-consensual recordings are involved.
Buza warned that transferring data across jurisdictions can create compliance and accountability risks, especially where legal protections differ.
“Where data is collected in one country and processed in another, the level of protection depends on the safeguards in the receiving jurisdiction,” she said.
Kenya’s Data Protection Act provides several mechanisms for cross-border transfers, including adequacy decisions, appropriate safeguards such as binding corporate rules, necessity-based transfers, and explicit consent which is mandatory for sensitive personal data.
The issue is particularly relevant as Kenya and the European Union continue discussions on a potential data adequacy agreement, a move that could shape future digital trade and data governance.
Rethinking consent in the age of invisible recording
Buza said policymakers may need to rethink how consent is defined in a world where recording devices are embedded in everyday objects and are not easily detectable.
“The assumption that individuals are aware of data collection and able to make informed choices becomes less applicable,” she said.
Instead, regulators are increasingly exploring complementary approaches, including visible recording indicators, clearer disclosures, and mechanisms that allow individuals to opt out where feasible.
Global implications for Meta and AI regulation
The scrutiny extends beyond Kenya. Meta Platforms, which produces the glasses in partnership with Ray-Ban, is facing regulatory attention in multiple jurisdictions. In the United Kingdom, the Information Commissioner’s Office has launched a similar review into potential privacy breaches linked to the devices.
Meta is also confronting legal challenges in the United States over its handling of user data, adding to mounting global pressure on the company.
Buza noted that investigations such as Kenya’s could have broader ripple effects.
“Past cases show that investigative reporting and civil society engagement can influence regulatory responses,” she said, citing recent global scrutiny of AI systems and biometric data collection practices.
She added that findings from such probes could lead to new enforcement actions and legislation requiring stronger safeguards including clearer disclosures, visible recording indicators, and stricter limits on how data from wearable devices is used, particularly in AI training.
The ODPC said it would provide further updates once the investigation is complete.
The case underscores the growing tension between rapid innovation in AI-powered consumer devices and the ability of regulators to safeguard privacy, as technologies increasingly blur the boundaries between public and private life.
UAE-based credit scoring platform zypl.ai has raised $5.5 million in a bridge funding round led by Carbide Ventures, with participation from investors including Eurasian Resources Group CEO Shukhrat Ibragimov, the company said on Thursday.
The round values the artificial intelligence firm at $80 million and will support its global expansion and deployment of next-generation AI solutions for financial institutions.
Founded in 2021 by Azizjon Azimi, zypl.ai develops synthetic data technology designed to improve credit decision-making, particularly in volatile economic environments. Its proprietary generative AI model, known as zGAN, focuses on producing outlier synthetic data to enhance predictive accuracy.
The company’s technology is integrated into its no-code platform, Lucid, which enables banks and other financial institutions to build and deploy AI models independently.
“Carbide Ventures first invested in zypl a year ago and is thoroughly impressed with the team, product and growth over the past twelve months,” said Dan Weirich, general partner at Carbide Ventures. “When given the opportunity to invest more, we jumped on it immediately.”
zypl.ai currently serves more than 60 financial institutions across 20 markets and counts Prosus Ventures among its backers.
Ibragimov, one of the investors in the round, is CEO of Eurasian Resources Group and chairman of Eurasian Bank and Eurasia Insurance Company.
The funding marks a key step in zypl.ai’s efforts to scale its AI-driven credit scoring solutions across new markets.
The United Arab Emirates has announced the launch of the world’s first commercial upper 6GHz (U6GHz) network ecosystem, in a move aimed at accelerating next-generation connectivity and supporting the transition toward 6G technologies.
The initiative was unveiled at the SAMENA Council Leaders’ Summit 2026 and is being led by the Telecommunications and Digital Government Regulatory Authority (TDRA), alongside telecom operators, equipment makers and global industry bodies.
U6GHz refers to the 6425–7125 MHz spectrum band, offering 700 MHz of contiguous bandwidth. The band is expected to support peak download speeds of up to 10 gigabits per second under 5G-Advanced standards, while enabling broader coverage than higher-frequency millimeter wave spectrum.
TDRA said the rollout would begin commercially in 2026 as part of the country’s push to become a “10 Giga intelligent nation,” calling on device manufacturers and chipmakers to accelerate support for the band.
The announcement brings together industry participants including Huawei, Nokia, e&, du, GSMA and the SAMENA Telecommunications Council, reflecting a coordinated effort to move the spectrum from trials to large-scale deployment.
Officials said the upper 6GHz band would play a central role in handling rising data demand driven by artificial intelligence, cloud computing and connected devices, while also serving as a foundation for future 6G networks.
Analysts say early deployment could give the UAE a first-mover advantage by attracting investment, shaping global standards and enabling faster adoption of emerging digital services across sectors such as finance, healthcare and manufacturing.
Operators in other markets, including Europe, China and Latin America, have conducted field trials of the band, but most countries have yet to move to full commercial rollout.
Samsung Electronics Co., Ltd. today announced it has retained its position as the world’s No. 1 gaming monitor brand for the seventh consecutive year, continuing a run that started in 2019.
According to the latest data from International Data Corporation (IDC), Samsung captured 18.9% of the global gaming monitor market by revenue, reinforcing its leadership in high-performance gaming displays. Samsung also ranked first in the OLED gaming monitor segment for the third consecutive year, achieving a 26% market share.
“As the No. 1 gaming monitor brand, our goal is to continue leading the market with differentiated innovation,” said Hun Lee, Executive Vice President of Visual Display (VD) Business at Samsung Electronics. “Strong partnerships with game studios guide our innovation, while a clear technology roadmap keeps us focused. By expanding our gaming library and broadening platform compatibility, we’re delivering displays that perform when it matters most to gamers.”
“In gaming, the smallest difference makes all the difference,” said esportsstar Lee ‘Faker’ Sang-hyeok of T1. “Being No. 1 for seven consecutive years shows that so many of us choose Samsung for a reason. I’m excited to see what innovative gaming technologies Samsung will bring next to help us perform at our best.”
Samsung’s sustained leadership reflects its focus on next-generation gaming monitor technology and immersive gaming experiences. That momentum was recently on display at GDC 2026 in San Francisco, where Samsung showcased its latest Odyssey lineup, giving developers a firsthand look at glasses-free 3D and HDR10+ GAMING. The 2026 Odyssey lineup includes:
27-inch Odyssey 3D (G90XF model): Glasses-free 3D gaming with advanced eye-tracking that delivers natural-looking depth and makes action jump off the screen.
Odyssey 3D Hub supports a growing library of compatible titles, including “Hell is Us” and “Cronos: The New Dawn,” with plans to support over 120 titles this year.
32-inch Odyssey OLED G8 (G80HS model): Stunning 4K QD-OLED at 240Hz with exceptional color and contrast, protected by Samsung OLED Safeguard+ technology.
32-inch Odyssey G8 (G80HS model): The industry’s first 6K gaming monitor, delivering native 165Hz performance with Dual Mode support up to 330Hz in 3K. This model also offers VESA-certified DisplayPort 2.1 (DP 2.1) connectivity, which supports smooth gaming and efficient video playback.
27-inch Odyssey G6 (G60H model): The world’s first 1,040Hz gaming monitor with Dual Mode, delivering esports-level motion clarity and responsiveness.
Kenya’s mobile money sector continues to drive growth in a maturing telecommunications market, with subscriptions reaching 51.36 million in the second quarter of the 2025/26 financial year, according to the Communications Authority of Kenya.
While total mobile (SIM) subscriptions barely increased by 0.1% to 78.4 million, mobile money uptake grew 5.6%, highlighting a shift in the industry: growth is no longer defined by new subscribers, but by the depth and diversity of services consumers use.
Safaricom remained the dominant player in mobile money through M-Pesa, accounting for 45.7 million users, roughly 89% of the market. Rivals are gradually making inroads; Airtel Money Kenya increased its subscriptions to 5.6 million, lifting its market share to 11.0% from 10.3% in the previous quarter. Analysts say even modest gains are significant in a highly concentrated market, signaling early competitive shifts.
This competitive dynamic is mirrored in broader mobile subscriptions. Safaricom remains the largest network with about 53.9 million subscriptions, followed by Airtel Kenya with 24.3 million, Telkom Kenya with 1.1 million, and smaller operators and MVNOs holding marginal shares.
Voice services continue to play a key role in engagement. Airtel Kenya recorded 11.83 billion minutes of voice traffic, up 2.4% from the previous quarter, with off-net calls rising 8.4%, showing increased cross-network communication. Airtel users averaged 2.7 minutes per call, compared to about 1.6 minutes on Safaricom, illustrating how pricing continues to shape usage patterns.
At the same time, data adoption is rising steadily. Mobile data subscriptions grew 2.9%, broadband connections by 9.3%, and overall smartphone adoption increased 9.1%, reinforcing the trend toward a data-driven digital economy. Meanwhile, SMS volumes declined across all networks, reflecting a structural shift toward internet-based messaging platforms.
Other players, including Jamii Telecommunications, remain niche, while entrants like Starlink are starting to influence connectivity, particularly in underserved regions, which may create new channels for mobile money adoption in the future.
The latest report highlights that Kenya’s telecom sector is moving beyond subscriber numbers. Market leadership is increasingly determined by how well operators integrate financial services, maintain affordability, and deepen consumer engagement, making mobile money central to the country’s digital economy.
Madica, an early-stage investment program, has invested a total of $600,000 across three African startups—Kilimo Fresh, Hakimu, and Biovana—as it expands efforts to support underrepresented founders on the continent.
Each startup will receive up to $200,000 in pre-seed funding and participate in Madica’s 18-month support program, which includes mentorship, executive coaching, and funded immersion trips to global and regional technology hubs.
Madica, launched in 2022, focuses on addressing structural gaps in Africa’s startup ecosystem, including limited access to capital, investor networks, and hands-on operational support.
The latest investments span key sectors such as agriculture, legal technology, and health data infrastructure.
Kilimo Fresh, based in Tanzania, operates a technology-enabled supply chain that connects smallholder farmers to urban markets, aiming to reduce food waste and improve income stability.
Kenya’s Hakimu is building AI-powered legal infrastructure designed to expand access to justice across Africa.
Meanwhile, Nigeria-based Biovana focuses on harmonising and certifying African health datasets for use in global pharmaceutical research and artificial intelligence applications.
Madica said the investments are part of a broader strategy to diversify venture capital flows across the continent, which have historically been concentrated in a few markets and sectors.
“Each new investment brings us closer to building a portfolio that reflects the full breadth and diversity of African entrepreneurship,” said Emmanuel Adegboye, head of Madica.
As part of its ecosystem-building efforts, the firm also launched a 75-page fundraising guide titled “Zero to Funded: A Founder’s Guide to Pre-Seed Fundraising in Africa,” aimed at helping first-time founders navigate early-stage capital raising.
The guide provides practical tools, templates, and insights on engaging investors, understanding venture capital trade-offs, and aligning local business realities with global expectations.
Madica also appointed Tauriq Brown as a mentor to support founders with operational and scaling expertise.
The program said it will continue seeking investment opportunities across Africa as it builds a more inclusive startup ecosystem.
Google and UpSkill Universe have relaunched the Hustle Academy programme, expanding the free training initiative to individuals across Africa as demand for artificial intelligence (AI) skills accelerates.
The programme, first introduced in 2022 to support small and medium-sized enterprises (SMEs), has trained more than 18,000 businesses in digital skills, leadership and AI, with participants reporting gains in revenue and job creation.
The 2026 edition opens access beyond business owners to include students, employees and jobseekers, reflecting shifts in the labour market driven by AI adoption. The updated format features 60-minute webinars alongside more intensive bootcamps focused on practical applications in digital commerce, marketing and growth strategy.
“AI is reshaping how businesses win and how careers are built across this continent,” said Gori Yahaya, founder and chief executive of UpSkill Universe, adding the programme aims to deliver “hands-on training that is short, focused, and immediately useful.”
Small businesses account for more than 80% of jobs in Africa, making upskilling a key economic priority. The initiative is designed to help participants move from basic awareness of AI to practical implementation, improving competitiveness in a digital economy.
Google said the redesigned programme focuses on scaling access to AI tools and training for individuals and entrepreneurs alike.
Egyptian biotech startup Reme-D has secured $500,000 in funding from the Global Innovation Fund to expand production and distribution of its room-temperature stable molecular diagnostic kits across Africa, the company said on Tuesday.
Founded in 2022 by nanotechnology researcher Salma Tammam, Reme-D was initially developed as part of a government-backed effort to address shortages of PCR testing during the COVID-19 pandemic. The company has since pivoted toward tackling broader diagnostic gaps in emerging markets.
Traditional PCR tests require constant refrigeration, posing challenges in regions with unreliable electricity. Reme-D uses freeze-drying and nanotechnology to stabilise reagents at room temperature for extended periods, reducing dependency on cold-chain logistics.
The company says its kits can cut diagnostic costs by up to 40% compared with imported alternatives, while maintaining clinical accuracy of 95% sensitivity and 98% specificity. Its products are also tailored to detect local pathogen variants.
Reme-D currently operates in Egypt, Iraq, Sudan and Kenya, with early deployments in Nigeria and Libya. It processes around 50,000 tests monthly across 92 hospitals and laboratories in Egypt and has tested more than 500,000 patients to date.
The startup previously raised about $1 million, including backing from the Oman Technology Fund.
Adoption has been particularly strong in blood banks, where Reme-D’s technology has shortened screening times by enabling direct molecular testing of donated blood, replacing slower two-step processes.
Despite growing demand, the company faces production and regulatory challenges. While its facility in Egypt can produce up to 12 million tests per month, packaging constraints currently limit output to about 130,000 units. Reme-D plans to expand capacity later this year.
Regulatory fragmentation across African markets also remains a barrier, with approval processes varying widely and often favouring established international manufacturers.
Tammam said investor skepticism toward African biotech firms has been an additional hurdle. The company recently received the Bayer Foundation Women Empowerment Award, which included a €25,000 grant.
Reme-D plans to use the new funding to scale operations and support commercial expansion into Nigeria and Libya, while advancing research into diagnostics for cancer, genetic disorders and maternal health.
Endeavor South Africa has closed its third Harvest Fund at 230 million rand ($12.5 million), targeting later-stage technology companies as investor appetite grows for African scale-ups.
The fund, Harvest Fund III, will co-invest alongside lead investors in Series B and later-stage rounds, focusing on companies with proven traction and expansion potential, the organisation said on Tuesday.
The vehicle builds on its predecessor and reached a final close after raising 190 million rand in October 2024.
It has already deployed capital into companies including GoTyme Bank, Onafriq, Entersekt and Plentify.
Investors in the fund include FirstRand, SA SME Fund, Standard Bank and Allan Gray, alongside a group of founders and operators.
“Harvest Fund III reflects what Endeavor has always believed: the strongest venture ecosystems are built when successful founders reinvest,” said Tjaart van der Walt, a board member at Endeavor South Africa.
The fund draws from a pipeline of about 40 Endeavor-backed companies across South Africa, Nigeria, Egypt and Kenya, within a broader portfolio of 144 businesses.
Endeavor South Africa said its previous fund’s portfolio companies recorded annual revenue growth of 49% and employment growth of 24% between 2020 and 2025, while raising more than 27 billion rand over the period.
CEO Alison Collier said the fund aims to address gaps beyond capital, including access to global networks and founder-led mentorship.
“As the market matures, exits matter more than ever. They validate the asset class, recycle capital, and build long-term confidence in venture investing,” said Ketso Gordhan.
The fund is expected to support companies scaling across borders as global investors increasingly look to high-growth markets outside traditional venture hubs.
ZSystems, a Moroccan startup, has secured $1.65 million in seed funding to accelerate the development of its unified digital commerce platform, targeting inefficiencies in a largely undigitised $40 billion market.
The round was led by Azur Innovation Management, with continued backing from existing investors MNF Ventures and Witamax. The Harambeans Prosperity Fund also joined as the company’s first international institutional investor.
The latest raise brings ZSystems’ total funding to $2.7 million, following a $1.05 million pre-seed round backed by MNF Ventures, Witamax, CASHPLUS Ventures, and Kalys Ventures.
ZSystems is building a platform that connects brands, wholesalers, and retailers into a single ecosystem, aiming to improve transparency, streamline operations, and unlock growth opportunities across fragmented supply chains.
Beyond funding, the company is supported by the European Bank for Reconstruction and Development’s Star Venture programme and Amazon Web Services, providing access to infrastructure and scaling support.
The new capital will be used to enhance product development, expand the platform’s reach, and deepen market penetration as ZSystems seeks to modernise B2B commerce across Morocco and the wider region.
Nigerian fintech company Paga has appointed Opeyemi Oyinloye as acting chief executive of its Nigeria business, marking a major leadership transition after more than a decade under founder leadership.
Founder Tayo Oviosu said in a LinkedIn post he will step away from the day-to-day running of the Nigeria unit to assume the role of Group CEO, where he will oversee the company’s broader strategy and expansion. Oyinloye’s appointment is subject to approval from the Central Bank of Nigeria.
The move marks the first time since Paga’s launch in 2009 that its Nigeria operations will be led by someone other than its founder.
The company said the leadership change is part of a wider restructuring aimed at positioning Paga for its next phase of growth, including expansion into other African markets and increased investment in emerging areas such as artificial intelligence, stablecoins and global payments infrastructure.
Oviosu, who has led Paga since inception, will focus on scaling the group’s technology and strengthening its position as a financial services platform connecting African users to global systems.
Oyinloye, who has held senior roles within the company, will oversee operations in Nigeria, Paga’s largest and most mature market.
The transition comes amid strong growth, with Paga processing 17.1 trillion naira in transactions in 2025, a 96% increase year-on-year, highlighting rising adoption of digital payments in Nigeria.
Paga’s restructuring reflects a broader trend among African fintechs, where founders are increasingly moving into group or strategic roles as companies scale across markets. Similar leadership transitions have been observed at firms such as Flutterwave, as they evolve from local payment solutions into multi-market financial infrastructure providers.
The company said the changes signal the start of a new phase focused on cross-border payments, interoperability and building scalable systems for digital finance.
Egyptian fintech platform Lucky App has raised $23 million in a Series B funding round combining equity and debt, as it looks to scale its consumer credit offering and expand into North Africa.
The round drew participation from a mix of existing and new investors, including Disruptech Ventures and DPI Venture Capital through the Nclude Fund. Strategic investors Suez Canal Bank and OneStop also joined the round.
As part of the deal, Egyptian tech investor Mohamed Farouk has been appointed Chairman of Lucky’s Board.
The funding comes after a strong growth period for the Cairo-based company, which reported threefold annual growth in 2025 and reached profitability by year-end, positioning itself among a growing cohort of African fintechs balancing scale with sustainable margins.
Lucky operates in the consumer credit space, offering users access to financing through a card-based system accepted across merchants. The company is betting on rising demand for digital financial services in Egypt, where regulators are pushing financial inclusion under the Central Bank of Egypt.
“Lucky has demonstrated disciplined growth, strong product-market fit, and a clear vision for inclusive digital finance,” said Farouk, noting the company is well-positioned to capture the next wave of consumer credit and neo-banking in the region.
Chief Executive Ayman Essawy said the capital will be used to scale operations while investing in infrastructure and regulatory readiness.
“Financial access is the foundation of progress. This round allows us to scale responsibly and deepen our impact as regulators unlock digital onboarding and modern payment frameworks,” Essawy said.
Egypt’s fintech sector has seen increasing regulatory support, including progress on digital onboarding, improved payments infrastructure, and the rollout of Payment Service Provider (PSP) licensing frameworks—developments that are lowering barriers for fintech expansion.
Lucky said it has already begun the process toward securing a PSP license, a move that would allow it to broaden its product stack into more comprehensive digital financial services.
The company also plans to expand beyond Egypt into select North African markets, leveraging its growing merchant network and user base.
Across Africa, fintech startups continue to attract investor interest, particularly those focused on credit access and embedded finance, as millions of consumers remain underserved by traditional banking systems.
Cape Town-based AI research platform Yazi has raised its first institutional funding round from 3 Capital Ventures at a pre-money valuation of $1.6 million, the company said. The size of the investment was not disclosed.
Founded in 2022 by Chief Executive Timothy Treagus and Chief Technology Officer Mzwandile Sotsaka, Yazi enables companies to conduct surveys, interviews, diary studies and panel research via WhatsApp. Its platform uses artificial intelligence to engage respondents in conversational formats, ask follow-up questions and analyse responses in real time.
The investment comes from 3 Capital Ventures, an early-stage firm spun out of Allan Gray. The funding will be used to advance product development, expand Yazi’s research panel and support international growth.
As part of its roadmap, Yazi plans to introduce automated voice interviews on WhatsApp and broaden its participant base across Africa, while scaling demand from research agencies in the United Kingdom and Europe.
The company currently operates in more than 15 countries and has access to 1.8 million pre-qualified research participants. Its client base includes Old Mutual, Pick n Pay, Discovery, Capitec and Ipsos.
Yazi said revenue increased 2.5 times over the past financial year, with 64% month-on-month growth recorded in the most recent quarter. More than 65% of its revenue is generated in foreign currencies.
Treagus attributed the company’s growth in part to AI-driven search visibility. “We rank number one on Google for WhatsApp research keywords and more than 80% of our leads come through AI search,” he said.
For decades, Africa has lacked a reliable addressing system, a gap that has hindered e-commerce, financial services, and logistics. Across 54 countries and 1.4 billion people, many locations cannot be formally verified, creating friction for businesses and consumers alike.
Swiss-based location intelligence startup Bwendi said on Thursday it has deployed a system capable of turning GPS coordinates into verifiable digital addresses, bypassing the need for street signs or government-issued postal codes.
Founder Francis Osih previously led Cameroon’s national digital addressing project in 2019. Despite technical success, the system was discontinued due to corruption and bureaucratic hurdles. “We needed to build something that could not be switched off,” Osih said. “Not dependent on a single government, but usable by anyone building for Africa.”
The platform is now based in Switzerland and designed to operate independently of any state. In many African cities and rural areas, directions rely on landmarks rather than numbered streets. Phrases such as “turn after the church, next to the blue pharmacy” are common. While intuitive for people, these directions are difficult for digital systems that require precise, standardized location data.
Bwendi’s API converts any GPS coordinate into a structured address, enriched with local economic and commercial context. Responses are delivered in under 20 milliseconds and localized in more than 30 African languages. Rather than simply labeling a place, the system attempts to define its economic relevance, supporting credit scoring, logistics optimization, and marketplace expansion.
Africa receives less than 3 percent of global venture capital. Analysts cite infrastructure gaps, such as addressing, as a key reason for investor hesitation. okHI has been building a similar platform for years but Bwendi aims to reduce friction for fintechs, logistics firms, and online marketplaces by providing a standardized “address-of-record.”
The company said its platform currently covers all 54 African countries, supports 1.4 billion people, indexes over 19 million commercial points of interest, and delivers responses in approximately 20 milliseconds. The API is publicly available to developers and enterprise partners at https://bwendi.com/en/africa.
The success of digital addressing systems depends on adoption. Bwendi’s platform aims to make Africa’s locations legible to the digital economy, but its impact will hinge on how widely it is integrated by businesses and governments.
In the modern lifestyle, visibility is everything. The quality of what you capture matters. The Galaxy S26 solves this through a massive primary sensor and an intelligent AI Image Signal Processor that handles the tricky physics of dark environments in real-time. Instead of a washed-out, grainy photo, the S26 preserves the rich textures of the scene against the black sky. For the urban creator, this means your social currency no longer devalues once the sun sets. You can produce professional-looking content on the fly, making spontaneous evening moments look like a high-budget production.
Samsung’s sustained leadership reflects its focus on next-generation gaming monitor technology and immersive gaming experiences. That momentum was recently on display at GDC 2026 in San Francisco, where Samsung showcased its latest Odyssey lineup, giving developers a firsthand look at glasses-free 3D and HDR10+ GAMING. The 2026 Odyssey lineup includes:
