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Startups & funding

Every funding round, every investor, every exit worth knowing about. Nigerian and African startup investment activity, tracked and summarized so you always know where the capital is moving.

Startups & funding

Dangote Petroleum Refinery plans to launch a $5 billion initial public offering within the next twelve days.

Business Post • Sep 4, 2026

Aliko Dangote announced that the Dangote Petroleum Refinery IPO will open within 10 to 12 days, seeking to raise approximately $5 billion.The refinery reached its 650,000 barrels-per-day capacity in February and has tested production at… Read full article →

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Glovo Kenya partners with e-mobility startup eBee to increase its female courier representation from 1% to 5% using e-bikes.

Techmoran • Sep 4, 2026

Glovo Kenya has launched the 'She Delivers' initiative in partnership with e-mobility company eBee to onboard more women into its last-mile delivery network.eBee will provide electric bicycles and structured training covering e-bike handling, defensive road… Read full article →

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African Alliance Insurance plans to hold an EGM to seek shareholder approval for a N12 billion recapitalisation and asset sales.

Business Post • Sep 3, 2026

African Alliance Insurance Plc has scheduled an Extraordinary General Meeting for September 23, 2026, in Ikoyi, Lagos.The board seeks authorization to raise up to N12 billion to comply with the recapitalisation requirements of the Nigerian… Read full article →

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Kenyan President William Ruto has ordered the immediate shutdown of foreign-owned small retail shops to protect local traders.

Premium Times • Sep 3, 2026

President William Ruto directed the Ministry of Investments, Trade and Industry to launch enforcement actions against foreign hawkers and small-scale traders starting next Monday.The administration bypasses the pending 2025 Local Content Bill, which aims to… Read full article →

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Village Capital invests $450,000 in Nigerian startups Trade Lenda and AirSmat to boost early-stage climate and fintech businesses.

TechCabal • Sep 3, 2026

Village Capital deployed $450,000 from its $4 million Africa Ecosystem Catalysts Facility into Nigerian startups Trade Lenda and AirSmat. Read full article →

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Liberia raises $954.7 million in revenue, targeting a $1 billion milestone by the end of September 2026.

AllAfrica Business • Sep 3, 2026

The Liberia Revenue Authority (LRA) has collected $954.7 million in domestic revenue for Fiscal Year 2026 as of September 2026.LRA Commissioner-General James Dorbor Jallah attributed the performance to close collaboration with the Ministry of Finance… Read full article →

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Ghanaian remittance startup Seevcash secures $333,000 from Stellar network programs to expand its card and transfer services.

Tech Build Africa • Sep 3, 2026

Ghanaian fintech startup Seevcash raised $333,000 through four separate Stellar Development Foundation programmes, including two Stellar Community Fund grants and two ecosystem growth awards.The funding will accelerate Seevcash's expansion of its cross-border peer-to-peer money transfer… Read full article →

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The Central Bank of Nigeria cuts its one-year Treasury bill yield to 16.84% amid overwhelming investor demand.

Nairametrics • Sep 3, 2026

On Wednesday, September 2, 2026, the Central Bank of Nigeria (CBN) cut the stop rate on its 364-day Treasury bill by 31 basis points to 16.84%, down from 17.15% at the previous auction. Read full article →

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Egyptian B2B fintech SETTLE has raised $2 million in pre-seed funding to automate payment reconciliation and treasury operations.

Business Tech Africa • Sep 3, 2026

Egyptian financial integration startup SETTLE secured $2 million in pre-seed funding led by Shorooq Partners, with participation from El Sewedy Capital Holding, Acasia Ventures, and Plus VC.Despite operating in its pre-launch phase, the startup has… Read full article →

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Mauritius Commercial Bank provides a $51 million loan to Tolaram to refinance its acquisition of Guinness Nigeria.

Business AM • Sep 3, 2026

Mauritius Commercial Bank structured a $51 million medium-term loan facility for Singapore-based consumer goods group Tolaram.The funding partially refinances an existing short-term loan used by Tolaram to acquire Guinness Nigeria Plc. Read full article →

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Nigerian fintech Nomba has raised $3 million in debt to expand its cross-border payment infrastructure between Africa and Asia.

TechCabal • Sep 3, 2026

Nomba secured a $3 million debt facility from CardinalStone Finance to boost USD liquidity for its banking relationships in Hong Kong and Singapore.The capital will support high-volume trade corridors, particularly between China and the Democratic… Read full article →

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MTN Nigeria dominates the fibre broadband market, capturing 55.2% of all FTTX subscriptions in Q2 2026.

Nairametrics • Sep 3, 2026

According to data from the Nigerian Communications Commission (NCC), MTN Nigeria recorded 176,468 Fibre to the X (FTTX) subscriptions in Q2 2026 out of 319,735 market-wide.FiberOne Broadband ranked second with 56,486 subscriptions (17.7%), while ipNX… Read full article →

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Uber exits Nigeria and Uganda as part of a global restructuring and pivot toward autonomous vehicles.

WeeTracker • Sep 2, 2026

Uber officially shut down its ride-hailing services in Nigeria and Uganda on September 2, following recent exits from Tanzania and Côte d’Ivoire.The withdrawals are part of a global restructuring cutting 3,300 jobs (10% of Uber's… Read full article →

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Kenyan police have arrested FlexPay founders over the alleged theft of KES 31.2 million from a retail partner.

TechCabal • Sep 2, 2026

Detectives from Kenya's Directorate of Criminal Investigations arrested Martin Kariuki Maina and Johnson Gituma Mwangi in Nairobi.The founders are accused of failing to remit KES 31.2 million ($242,000) collected on behalf of an unnamed major… Read full article →

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Egyptian edtech 3C Coding School raises $3 million to expand to Saudi Arabia and develop its AI learning platform.

Tech Build Africa • Sep 2, 2026

Egyptian edtech startup 3C Coding School has secured $3 million in seed funding led by MRG Economic Group, with participation from investor Amr Saad and several angel investors.The startup has reached more than 120,000 students… Read full article →

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Dangote Cement will host a London event on September 21, 2026, to update investors on its proposed LSE listing.

Business Post • Sep 2, 2026

Nigerian cement manufacturer Dangote Cement Plc plans to host a Capital Markets Day (CMD) in London on September 21, 2026.The event is designed to brief international investors and stakeholders on the company's business priorities, operations,… Read full article →

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Nigeria's SEC proposes high capital requirements and local ownership rules for online forex trading platforms.

Nairametrics • Sep 2, 2026

The Securities and Exchange Commission (SEC) of Nigeria has proposed a new regulatory framework for online forex trading and Contracts for Difference (CFDs).The draft rules mandate a minimum paid-up capital of N5 billion for technology/platform… Read full article →

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UAE's ePointZero have acquired a 90% stake in pan-African power producer Azura Power to expand its energy footprint.

Nairametrics • Sep 2, 2026

Abu Dhabi-based energy platform ePointZero have agreed to acquire a 90% stake in Azura Power from existing institutional investors Actis and Africa50.Amaya Capital, which founded Azura Power in 2010, partnered with ePointZero on the transaction… Read full article →

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French health insurer Alan acquires Senegalese healthtech startup Tanel, marking a rare exit for Francophone West Africa.

TechCabal • Sep 2, 2026

French health insurance giant Alan has acquired Tanel, a digital health startup operating in Senegal and Côte d’Ivoire, for an undisclosed amount in a transaction that closed in June.The acquisition provides a full exit for… Read full article →

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Africa needs over $200 billion annually in energy investment by 2030 to secure its power and hydrocarbon future.

Vanguard (Business) • Sep 2, 2026

Adegbite Falade, Chairman of the Independent Petroleum Producers Group (IPPG), revealed that Africa requires more than $200 billion annually by 2030 for energy development but currently attracts just half of this amount.The Africa Energy Bank… Read full article →

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Cascador selects 10 growth-stage Nigerian businesses across multiple sectors for its 12-week 2026 ScaleUp accelerator program.

TechCabal • Sep 2, 2026

Nigeria-focused accelerator Cascador selected 10 local companies from over 1,000 applicants for its 2026 ScaleUp Program.Participants will compete for $50,000 in awards and gain eligibility for up to $5 million in annual funding from Cascador's… Read full article →

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Askya Investment Partners launches a zero-equity AI accelerator offering ten African startups up to $200,000 in funding.

Disrupt Africa — South Africa • Sep 2, 2026

African venture capital firm Askya Investment Partners, in collaboration with Magna Collective, has launched the Askya AI Growth Platform.The six-week hybrid programme will select 10 AI-native, Africa-focused startups from pre-seed to Series A that have… Read full article →

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Egypt launches a €271 million-backed digital platform to streamline environmental assessments and accelerate green industrial investments.

Daily News Egypt (Business Section) • Sep 1, 2026

Egypt's Ministry of Environment and Ministry of Investment have launched the Integrated Digital Environmental Impact Assessment (IDEIA) system to eliminate paper workflows and speed up approvals.The digital platform is funded through a €271 million package… Read full article →

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Pivot Integrated Energy raises N100.08 billion in its debut commercial paper issuance to fund petroleum operations.

Nairametrics • Sep 1, 2026

Pivot Integrated Energy Services Limited secured N100.08 billion in its oversubscribed Series 1 Commercial Paper (CP) issuance.Proceeds will be deployed to fund Pivot's trading, storage, distribution, and supply of refined petroleum products across Nigeria and… Read full article →

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Semiconductor startup ChipMango raises $1.9 million to train African engineers and expand chip-design operations globally.

TechCabal • Sep 1, 2026

ChipMango closed a $1.9 million seed funding round led by Atlantica Ventures, with participation from DFS Labs, Madica, and others.The California-headquartered startup focuses on the pre-manufacturing chip design and verification stage, operating a cloud-enabled model… Read full article →

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WIOCC Group has secured $300 million from AFC and Vision Invest to expand Africa's digital infrastructure and fiber networks.

BusinessDay Nigeria — Technology • Sep 1, 2026

WIOCC Group has secured a $300 million investment from Africa Finance Corporation (AFC) and Saudi Arabia's Vision Invest at the LEAP 2026 exhibition.The fresh capital will fund the expansion of carrier-neutral fibre networks, data centres,… Read full article →

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NASENI launches its Xceler8 accelerator, offering 25 Nigerian science and engineering startups up to $25,000 in non-equity support.

Technext • Sep 1, 2026

The National Agency for Science and Engineering Infrastructure (NASENI) has introduced Xceler8, a three-month virtual accelerator program for 25 Nigerian innovators.Selected participants will receive up to $25,000 in support, mentorship, hands-on product development assistance, and… Read full article →

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Africa Finance Corporation launches a $30 million captive insurance subsidiary in Bermuda to de-risk and expand African infrastructure lending.

Business AM • Sep 1, 2026

The Africa Finance Corporation (AFC) has established AFC Captive Insurance Company Ltd in Bermuda with up to $30 million in equity capital.The Class 2 licensed insurer will initially de-risk AFC's own loan book, retaining and… Read full article →

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Egyptian edtech startup Eduact is acquired by MENA education platform Abwaab to digitise and scale offline tutoring operations.

WeeTracker • Sep 1, 2026

MENA education platform Abwaab has acquired Cairo-based edtech startup Eduact for an undisclosed financial amount.The acquisition will transition Abwaab's strategy toward a B2B2C model, giving Eduact's teacher network access to digital content and Abwaab's students… Read full article →

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The Egyptian Exchange has granted its chairman full discretion over reinstating suspended unlisted shares on the OTC market.

EnterpriseAM Egypt • Sep 1, 2026

EGX Chairman Omar Radwan issued Decision 633 of 2026, with sign-off from the Financial Regulatory Authority, amending rules for unlisted securities.The new rules eliminate the formal application process that allowed suspended companies to request reinstatement… Read full article →

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