Is Moove Africa’s next unicorn?
Sabi cuts about 20% of staff as it fully pivots to TRACE.
Happy Monday!
Can you believe we’re almost halfway through 2025? How’s the year been for you so far? While you reflect on that, here are some of the stories we cover today.
Moove inches closer to unicorn status with a significant raise in view, Sabi pivots to TRACE and cuts 20% of staff, Visa partners with Yellow Card for stablecoin-powered cross-border payments, LemFi makes a bold acquisition to serve migrants better and more stories you do need to catch up on. In addition, we also added a guide for startups on building a growth team.
Let’s dive in.
Top stories from around Africa
Is Moove Africa’s next unicorn? Moove, the Lagos-born startup, is eyeing unicorn status as it plans to raise $300 million in equity. From funding Uber drivers in Lagos to supplying EVs for Waymo in the U.S., its growth has been rapid. With revenue tripling, it's catching investor attention.
LemFi’s next big step: LemFi has acquired UK-based Pillar, expanding credit and remittance services to serve migrants beyond remittances. With this move, LemFi now offers cards, wallets, and in-app credit to users often left out of UK financial systems.
20% leaner and new focus: Sabi cuts about 20% of staff as it fully pivots to TRACE. By 2023, Sabi moved more than $1 billion in goods yearly. Now, with TRACE, it's focusing on exporting key minerals sourced from Nigeria, Zambia, Zimbabwe, and Tanzania, with around 50,000 tonnes already moved since launch.
Google x WeThinkCode: South African tech academy, WeThinkCode, just landed a $2M Google grant to train 12,000 disadvantaged people in South Africa and Kenya in real-world AI skills by 2026.
Bosun Tijani makes history: Bosun Tijani has been appointed Vice-Chair of the International Telecommunication Union (ITU) Council for the 2025–2026 term, Nigeria’s first leadership role at the Council in almost 50 years. This marks a milestone for both Nigeria and Africa’s growing voice in global digital policy.
Visa x Yellow Card: Businesses across Central and Eastern Europe, the Middle East, and Africa (CEMEA) can now send dollars using stablecoins, as Yellow Card partners with Visa to enable stablecoin-powered cross-border payments.
Featured story
Growth isn’t optional: Despite early wins and strong momentum, some startups still don’t make it, while others thrive and a few reach unicorn status. What makes the difference? Most times, it's not just the product, it’s the ability to grow sustainably and scale with intention. Without a clear strategy to attract, engage, and convert users, growth will stall. Here, growth means more than just numbers; it’s about intentionally expanding reach and impact. To help founders tackle this often overlooked challenge, we've put together The Startup’s Guide to Building a Growth Team.
Safaricom wants to lead East Africa’s AI revolution, and it's putting $500 million behind that ambition. On the latest episode of Tech Tides Africa Podcast, we talk about what this bold move could mean for East Africa. We also cover the legal controversy around Moniepoint, as a former exec takes the fintech unicorn to court, and more stories you won’t want to miss.
Listen in, join the conversation, and let’s discuss what these developments mean for the future of African innovation.
Did you know?
The 2025 Report on the State of Digital Assets Regulation in Africa, released by Yellow Card, ranked Nigeria as the leading country in the adoption of stablecoins globally.
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Cheers to a productive and successful week ahead!
