Business, Startups & Tech economy in Africa. A business publication that puts forward The African Context
Africa
Joined September 2017
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WeeTracker retweeted
Yesterday, I had the pleasure of receiving a courtesy visit from Ike Chioke, Group Managing Director of @Afrinvest.
A few years after the 2008 global financial crisis, which tested the resilience of many businesses, including Afrinvest, I made an unsolicited investment of $1 million in the company.
Read more on my blog:👇🏾
tonyelumelu.com/afrinvest-wh…
WeeTracker retweeted
The crazy thing happening in VC right now:
A startup can grow revenue 3x in a year and still be considered a disappointment today.
VC has a very strange way of making extraordinary outcomes feel ordinary, especially now.
OPay has established its place as Nigeria's ubiquitous payments app for a good few years now.
Its green logo is plastered on the walls of roadside kiosks and the phone screens of millions, with the simple pitch of moving money faster than a bank.
But the company's newly filed IPO prospectus reveals a more consequential transformation. Lending, not payments, is now the engine driving its revenue.
weetracker.com/2026/10/13/op…
Microsoft, Oracle, Meta and Uber are retreating from Africa in tandem. They have all scaled back across the region, cutting thousands of jobs and reshaping how the continent fits into Big Tech's strategy.
weetracker.com/2026/10/13/us…
The unlikely thriving fintech arm of Africa's biggest clothing retailer has investors clashing in a dispute over governance that threatens to overshadow a strategic pivot into financial services.
Pepkor's fintech merger has sparked an investor fight after shareholders were denied a vote on a deal that hands its CEO a ZAR 2.8 B stake and reshapes its strategy.
weetracker.com/2026/10/12/pe…
WeeTracker retweeted
I hate to say it, but you can increase your chances of success in business simply by stopping trying to sell to broke people.
WeeTracker retweeted
Many investors, me included, require board director seats when we lead rounds. But many founders at the early-stage I invest in haven’t yet seen what a functioning board looks like or does.
A board is more than just a quarterly meeting to report milestones and performance against budget. A well-functioning board should bring expertise and strategic guidance to help founders make informed decisions.
Equally important, accountability, risk mitigation and crisis management are benefits of having a board of directors.
If this doesn’t sound like your board, it may be time to sit down with your investors to rebuild what the board does. Investors, we asked for the seat. Making it useful is on us too.
SeerBit's PayPal integration across 10 African markets promises easier cross-border checkout, but settlement, FX and post-payment friction remain the real test for merchants.
Its founder, Omoniyi Kolade, says the real work, beyond the headlines, is plugging the actual stubborn gaps, which is the stuff mere integration doesn't solve.
weetracker.com/2026/10/12/pa…
WeeTracker retweeted
Standard Bank, Stanbic IBTC 🇳🇬 parent firm, will invest about $200 million for an equity stake in OPay
WeeTracker retweeted
The rapid rise of Lagos Life, still barely a week old, whose barely-days-old parent has now closed probably the fastest-ever pre-seed, is some tremendous motion unlike anything we've ever seen in African tech.
But isn't that $10M valuation a little too rich, I have to ask?
Moove, the mobility fintech founded in Lagos in 2020, announced it will wind down operations in Nigeria, the market that incubated its business model and launched its global trajectory that had become a drag.
weetracker.com/2026/10/08/mo…
Africa-focused fintech M-KOPA reported a 45% surge in revenue to USD 600 M for its 2025 financial year, a milestone that underscores how the Kenya-based company’s decisive shift from solar financing to smartphone and electric vehicle asset financing has reshaped its business and its balance sheet.
weetracker.com/2026/10/08/m-…
Across Africa, an old financial habit is becoming a new frontier for banks, fintechs, and mobile money providers. Community savings groups, long dismissed as the informal domain of cash-stuffed envelopes and handwritten ledgers, are being pulled into the digital economy at speed.
weetracker.com/2026/10/07/af…
South Africa's supermarket tills now process billions in cash-back withdrawals a year as high ATM fees, long queues and travel costs push millions toward a cheaper way to get cash.
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Leatherback, the Nigerian-born, UK-headquartered cross-border payments company rocked by a string of upheavals, is now Foren.
The name change comes two months after Nigerian financial services group, Zedcrest, completed a full acquisition of the startup it first backed in a USD 10 M pre-seed in 2022.
It marks the final erasure of a brand that spent two years fighting for its survival after finding itself mired in a fraud investigation it ultimately shook off, but not without major internal shakeups.
weetracker.com/2026/10/05/fo…
A free browser game (which emerged on the heels of another browser game that made waves recently) that lets Nigerians simulate life in Lagos, complete with traffic, power cuts, and the struggle to make rent, has drawn more than 2 million players in under a week, marking a breakout moment for a local gaming industry that has long struggled to turn cultural familiarity into scale.
weetracker.com/2026/10/06/la…
