Africa could capture up to $136 billion in AI productivity gains, but only if governments allow secure cross-border data flows, a Microsoft Africa executive told TechCabal. Reporting from TechCabal quotes Akua Gyekye, Microsoft Africa’s government affairs director, tying the estimate to two constraints that sit below most AI headlines. Africa holds about 1% to 2% of global compute, and it also sits inside a tightening, country-by-country compliance perimeter that can block regional scale. Compute scarcity shifts bargaining power to hyperscalers Africa has 223 data centres across 38 countries as of
Talksign, a Nigeria and UK-based AI company, launched Talksign-1 on Monday, a model it says translates American Sign Language into speech and text in under 100 milliseconds. Reporting from the company says the release targets a structural bottleneck in digital infrastructure: most mainstream interfaces assume spoken audio input and output. World Health Organisation figures put the addressable need at scale, with over 430 million people worldwide who are deaf and 70 million people who use sign language as their primary communication method, yet core tools like video conferencing and service
Paystack, the Nigerian fintech owned by Stripe, reorganized its businesses under a new holding company, The Stack Group, in Nigeria this week after reaching group profitability. The new structure places four businesses under TSG: Paystack’s core merchant payments business, the consumer payments app Zap, Paystack Microfinance Bank, and a venture studio known as TSG Labs. The shift reflects a strategic move to manage risk, regulation, and ownership across distinct financial products. A Holding Company Model to Contain Risk and Regulation By adopting a holding company structure, Paystack has separated payments,
PayPal is returning to Nigeria through a new partnership with fintech company Paga, allowing individuals and businesses to receive international payments, withdraw funds in naira, and access PayPal’s global network after nearly two decades of restricted service, TechCabal reports. For the first time, Nigerians can receive PayPal funds directly into a locally regulated wallet at scale, rather than relying on workarounds and business‑only routes. From bans to local partners PayPal blocked Nigerians from receiving payments in 2004, citing fraud concerns, and for years offered only limited functionality. Nigerians could often
Steven Bartlett’s Flight Story has partnered with Dr Raphael Sofoluke, founder of the UK Black Business Show, to launch Legacy Black. The 50/50 joint venture aimed at building a global media brand focused on Black business and wealth creation. The partnership targets over £100 billion ($134 billion) of economic impact over the next decade. It emerged after Bartlett spoke at the UK Black Business Show in 2023, evolving into a media business designed to convert community into a sponsor-backed revenue model. Flight Story And UK Black Business Show Join Forces
A 13-year-old boy in the UK is paying his own boarding school fees using profits from his Caribbean food business, a venture he started at just six years old. Malaki Conteh now covers the portion of his school fees not covered by financial aid at The Prebendal School in southern England, where he attends as a full-time boarder. Tuition runs about £4,000 ($5,384) per semester, with Conteh paying the remaining balance after receiving a 50% scholarship, My London reports. Turning a Family Kitchen Into a Business Conteh runs Malaki’s Food
Nigerian mobility financing company MAX has raised $24 million in a mix of equity and debt after reaching profitability in Nigeria, its largest market, multiple reports confirm. The funding signals renewed investor interest in electric mobility across Africa, where rising fuel prices and falling battery costs are making electric two- and three-wheelers increasingly attractive for commercial drivers. The round includes equity from Equitane DMCC, Novastar, Endeavor Catalyst, and other global investors, alongside asset-backed debt from the Energy Entrepreneurs Growth Fund and development finance institutions. Profitability Brings Investors Back Founded in 2015 as Metro
Kenya’s government has launched the sale of a majority stake in its state-owned oil pipeline company, marking the country’s first stock market listing in a decade, Reuters reports. On January 19, the government began selling 65% of Kenya Pipeline Company (KPC) to the public, hoping to raise about $835 million. If successful, it would be the region’s biggest initial public offering (IPO) since Safaricom listed in 2008. Why Kenya Is Doing This Now Kenya has been under pressure from rising public debt, and President William Ruto’s administration has said it
Terra Industries, a Nigeria-based defense technology company, raised an $11.75 million in funding led by Joe Lonsdale’s 8VC [Lonsdale is also co-founder of companies including Palantir Technologies, Addepar, and OpenGov], as it emerged from stealth, according to TechCrunch. The round included Valor Equity Partners, Lux Capital, SV Angel, and Nova Global. Terra previously raised an $800,000 pre-seed round. The company said African investors in the round included Tofino Capital, Kaleo Ventures, and DFS Lab. Terra, founded by CEO Nathan Nwachuku, 22, and CTO Maxwell Maduka, 24, builds autonomous systems to
Flutterwave, Africa’s largest payments technology company, has acquired Nigerian open banking startup Mono in an all-stock deal valued between $25 million and $40 million, TechCrunch reports. The acquisition brings one of Africa’s most prominent open banking companies under the Flutterwave umbrella, as the payments giant looks to expand its infrastructure beyond transactions into data and financial services. According to a press release, Mono will continue to operate independently under its existing leadership team. Mono: Africa’s Answer To Plaid Founded in 2020 and backed by investors like Y Combinator, Mono builds
