Nigeria’s electronic payment ecosystem witnessed a historic leap in Q1 2025, with transactions hitting N284.9 trillion — a 22% rise year-on-year, signaling the nation’s steady shift toward a cashless future.

Blueroomcare, a Nigerian digital mental health startup, has received a fresh $50,000 follow-on investment from EHA Impact Ventures, strengthening its mission to make therapy more accessible and culturally relevant across Nigeria.

Early-stage African startups can now apply for the TractionBoost Accelerator – a two-month programme designed to support pre-seed readiness through funding, mentorship, and investor access.

Rwazi has secured $12 million in Series A funding to scale its AI-powered consumer data platform, enabling brands to access real-time insights across 190 countries.

Nestuge, a bootstrapped Nigerian startup, has paid over ₦500 million to digital creators in just two years. Built to empower creators with monetisation tools, the platform is proving that big impact doesn’t always require big funding.

Bfree has secured a $3 million investment loan from Verdant Capital to scale ethical, data-driven debt recovery across Africa by acquiring distressed loan portfolios from inclusive financial institutions.

Kenyan logistics software startup Leta has launched in Ghana following a $5M seed funding round, marking its seventh African market expansion and partnership with Simbisa Brands.

The RevUp Women Initiative has launched its Nigeria Edition to support 150 women entrepreneurs across Lagos, Abuja, and Abia, with a focus on agribusiness and e-commerce. The program offers capacity-building, mentorship, networking, and access to $24,000 in grant funding.

Wave, the West African fintech disrupting mobile money services, has secured €117 million in fresh funding. The company plans to expand across the region and strengthen its commitment to affordable, inclusive financial services.

Solar energy company d.light has secured $842 million in financing to scale access to affordable solar home systems in Africa. Through its PayGo model, the company aims to reach 10 million people in Kenya, Uganda, Tanzania, and Nigeria—providing energy and empowering underserved communities.

Better Auth, the open-source authentication tool built by Ethiopian solo founder Bereket Engida, has raised $5 million in seed funding. The startup plans to scale its infrastructure, enhance its developer tools, and bring African deep tech into global relevance.

The Federal Government has launched a ₦100,000 inventory loan scheme through CREDICORP, targeting 10,000 market women in 224 markets across Nigeria. This initiative aims to empower women traders and strengthen Nigeria’s informal economy through affordable credit.

Visa and Absa are calling on women entrepreneurs in South Africa to apply for the She’s Next programme, a flagship initiative providing funding, mentorship, and business training to help women-led ventures grow and thrive.

Cutstruct has raised $1.5 million in seed funding to scale its digital procurement platform, improve logistics, and drive efficiency in Nigeria’s construction sector.

PaidHR, a Nigerian startup revolutionizing HR management, has raised $1.8 million in seed funding led by Accion Venture Lab. The company plans to expand its market reach, develop new products, and strengthen customer support.

Solar startup Wetility raises R500 million to expand affordable solar access across South Africa, helping homes and businesses break free from energy insecurity.

Salpha Energy has secured $1.3 million from All On to scale its locally built solar solutions in Nigeria. The female-led company is driving clean energy, job creation, and local manufacturing to close Africa’s energy access gap.

The African Development Bank has approved $184.1 million to support Egypt’s 1GW Obelisk Solar Project, reinforcing the country’s clean energy transition. The project, which includes battery storage, is expected to generate 2,772 GWh of clean electricity annually and create over 4,000 jobs.

Collab Capital has secured $75 million for its second fund, expanding its mission to back early-stage startups transforming work, healthcare, and community systems. The firm’s strategy combines capital with deep, hands-on support to create meaningful impact and long-term growth.

Against global economic headwinds, Nigerian startups defied the odds, securing over $100 million in Q1 2025. Fintech led the charge, but clean energy and agritech also saw major wins. Here's a breakdown of the top 10 deals and what they signal for the startup ecosystem.

Techstars is stepping up its game, increasing funding to $220K for participating startups. With a new SAFE structure and global support network, the accelerator is closing in on Y Combinator’s model — and leaving a lasting impact in Africa.

Google for Startups Accelerator Africa is now open! This AI-focused program offers equity-free support, expert mentorship, and Google Cloud credits to help African startups scale.

Visa has backed Tunisian startup Konnect and Morocco’s PayTic after both completed its Africa Fintech Accelerator. The move strengthens Visa’s push to support digital innovation and expand financial inclusion across the continent.

Solape Akinpelu, founder of Nigerian fintech platform HerVest, has won the 2025 Aurora Tech Award, securing $30,000 in funding and global recognition for her work empowering African women through financial inclusion.

AI startups building practical applications on large language models are seeing explosive growth, drawing billions in investment and transforming how businesses and consumers interact with technology. From coding tools to AI-powered search engines, these agile companies are scaling faster than any previous tech wave.

J.P. Morgan has advised investors to reduce exposure to Nigerian assets, citing increased macroeconomic risks from falling oil prices and global trade tensions. The bank’s latest report warns of currency pressure and potential capital flight if conditions worsen.

AfriLabs has received a generous $150,000 donation from the Airbnb Community Fund. The funding will help strengthen Africa’s innovation ecosystem by supporting tech hubs and entrepreneurs across the continent.

Can local investors drive Africa’s tech revolution? Benue Capital thinks so—and they're proving it in Uganda. By mobilizing homegrown wealth and debunking myths around tech startups, they're helping high-net-worth individuals shift from land to laptops, funding African solutions for African problems.

After two earlier attempts, Henri Ousmane Gueye finally wins big at the 2024 Africa’s Business Heroes Prize Competition, taking home $300K for EyOne, his groundbreaking health-tech company making waves in Senegal’s healthcare sector.

Five West African startups have received £500K in grants through TRANSFORM West Africa to scale circular and sustainable solutions, with Nigeria in the spotlight.

Ivorian fintech startup Djamo has secured $17 million in fresh funding to scale digital banking across Francophone West Africa. With over 1 million users, Djamo is redefining access to finance in underserved markets.

FAC secures €2 million from IFC to expand its dairy and juice production in Cameroon. The partnership will support food security, job creation, and small business growth in the agribusiness sector.

Literacy is not a luxury; it is a necessity. It fuels imagination, drives innovation, and empowers every child—regardless of zip code—to shape their destiny. Through a community-driven writing initiative, young scholars in Baltimore are finding their voices and defining their futures.

Airtel Africa is investing N1 billion in Nigeria’s 3 Million Technical Talent (3MTT) program, helping to train over 25,000 Nigerians in digital skills. With this commitment, the telecom giant strengthens the country’s push toward a thriving digital economy and a future-ready workforce.

The Spark Accelerator programme is back! In partnership with Safaricom, M-Pesa Africa, and Sumitomo Corporation, the initiative empowers startups with the resources they need to grow. Applications for the second cohort open on April 1—don’t miss out!

German development finance institution DEG has increased its investment in Mediterrania Capital IV by $16.3 million, signaling strong confidence in Africa’s economic growth. The fund, managed by Mediterrania Capital Partners, focuses on mid-sized companies across key sectors in North and West Africa.

The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 young entrepreneurs across 52 African countries. Each selected entrepreneur will receive a $5,000 non-refundable seed grant to launch or expand their businesses, fueling economic transformation across the continent.

Flutterwave has introduced Pay With Bank Transfer in Ghana, a new payment option developed in partnership with Affinity Bank. This integration enables businesses to accept secure bank transfers, reducing reliance on cash and Mobile Money. With over 115 million bank transfer payments recorded in Ghana in 2023, this development reflects the nation’s shift toward digital financial solutions.

Meta has launched the Llama Impact Grant, providing $20,000 to AI-driven projects tackling Africa’s challenges in healthcare, agriculture, and research. Applications are open until April 18, 2025—apply now to bring your AI solution to life!

The Startup 360 Connect Programme is calling on innovative startups from Kenya and the broader East African region to apply. Backed by the UK Government, this initiative offers mentorship, investment opportunities, and strategic networking to help startups expand into global markets.

THE BIG PITCH 2025 is here! Startup Club ZA and the South African Future Trust are offering a $1 million investment and national media exposure to the most innovative early-stage startups. Apply now and take your business to new heights!

Leta has raised $5 million in seed funding to scale its AI-powered logistics platform, helping businesses streamline deliveries, cut costs, and improve efficiency. With backing from Speedinvest, Google’s Africa Investment Fund, and Equator, Leta is set to revolutionize logistics across Africa.

Moniepoint’s Women in Tech program is growing! Now in its fifth year, the initiative has increased its internship slots from 10 to 15, equipping more women in Africa with the skills and confidence needed to thrive in tech.

Borno State Governor Babagana Zulum has approved N1 billion in grants for 9,403 small businesses in Biu and Hawul as part of efforts to boost local enterprises and reduce poverty. He also launched a 600-unit housing project for teachers and health workers, reaffirming his administration’s dedication to economic and social development.

AfDB and ECOWAS have signed a $12 million grant agreement to implement the REWARD project, enhancing rice production and food security across West Africa. This initiative seeks to reduce import dependency, support local farmers, and strengthen agricultural value chains, aligning with regional development goals.

The NSIA Prize for Innovation (NPI) is designed to identify, support, and finance early-stage innovative solutions with the potential to:

Badili, a leading Kenyan re-commerce startup, has secured $400,000 in debt funding from Proparco. This investment will drive the expansion of its refurbished smartphone business, making mobile technology more accessible and sustainable across East Africa.