TechStream

Technology news around the ecosystem!

From Lagos to Nairobi

We give you summaries of happenings around tech, from developer stand-ups to the boardrooms.

  • PalmPay to expand to 4 African markets after processing 1.35 bn transactions in Q1

    Nigerian fintech PalmPay will expand into South Africa, Côte d’Ivoire, Uganda, and Tanzania by the end of 2025, building on momentum from processing over 15 million daily transactions during the first quarter, Managing Director Chika Nwosu said at a press conference on Wednesday. He declined to disclose the value of the transactions. To read more click here

  • Jumia’s revenue dropped by 26% to $36.3 million in Q1 2025

    Jumia, Africa’s eCommerce platform, just shared its Q1 2025 financials, and while the numbers look rough on the surface, there are some promising signs. Revenue dropped by 26% to $36.3 million, mostly because of a slump in corporate sales in Egypt and currency troubles in key markets. To read more click here

  • Ethio Telecom launches eCommerce platform Zemen GEBEYA 

    Ethio Telecom just launched Zemen GEBEYA, a new eCommerce platform built to connect Ethiopian businesses and consumers in one digital marketplace. It’s the latest in the state-owned telco’s push to “modernise” Ethiopia’s economy and grab a bigger slice of the country’s growing digital appetite. To read more, cick here

  • Access Bank, ABC top five lenders risking CBK penalties for raising loan rates

    The CBK launched on-site inspections in February following growing frustration over banks’ resistance to adjusting credit pricing despite successive rate cuts. Governor Kamau Thugge said in April that the regulator had completed inspections of 13 out of 38 licensed banks and would finish all reviews by the end of June. To read more click here

  • Flutterwave Recognized Again as a Top 100 Global Cross-Border Payment Company

    Flutterwave, Africa’s leading payments technology company, was recently ranked as a top 100 cross-border payment company by FXC Intelligence for the second consecutive year. FXC Intelligence’s Top 100 Companies list, now in its sixth year, serves as a market map to highlight and celebrate the 100 most important players in the cross-border payments space. Flutterwave…

  • IHS shares hit 20-month high as Nigerian telcos bounce back

    IHS Towers, Africa’s largest independent telecom tower company, saw over 3 million shares traded on the New York Stock Exchange (NYSE) on May 7, its highest single-day volume in nearly two years. The surge in trading activity, accompanied by a 9.7% jump in share price to $5.7, underscores how investor sentiment is shifting in favour…