Namaste,
Victoria from Techpoint here,
Here's what I've got for you today:
- Vodacom and Orange to launch solar-powered base stations
- Techstars moves to Bostwana two months agfter leaving Lagos
- LemFi raises $53M after expanding into Europe
Vodacom and Orange to launch solar-powered base stations in DRC
Vodacom and Orange are teaming up to bring mobile services to some of the most remote areas of the Democratic Republic of Congo (DRC). In a joint announcement, the telecom giants revealed plans to roll out solar-powered base stations to improve connectivity in the DRC, a country that's twice the size of South Africa and covered mostly by tropical rainforest.
Here’s the deal: the project will focus on rural areas where mobile service is almost non-existent. The goal is to provide telecom and mobile financial services to up to 19 million people living in these underserved regions. To make this happen, Vodacom and Orange plan to build 2,000 solar-powered base stations over the next six years, using 2G and 4G tech.
The first thousand sites are already approved, with construction expected to kick off in 2025. If all goes well, another thousand stations could follow. But of course, everything depends on getting the green light from regulators and competition authorities.
The companies also shared that they’ll both use the infrastructure as “anchor tenants” for at least 20 years. Plus, they’re opening the door for other mobile operators to share the towers, making it easier to expand coverage for even more people.
Right now, mobile Internet penetration in the DRC is just 32.3% — a huge gap that this partnership aims to bridge. If all goes as planned, this could be a major step towards closing the digital divide in one of Africa’s most underserved countries.
Techstars moves to Bostwana two months agfter leaving Lagos
Techstars has just launched an accelerator programme in Botswana, marking a big step towards supporting startups in Southern Africa. This new programme will provide local entrepreneurs with mentorship, funding, and access to Techstars’ global network, giving them the tools to scale their businesses and make a real impact.
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Bringing Techstars to Botswana is part of the company’s mission to tap into regions with huge potential but limited resources. While Africa’s economies are growing fast, startups often struggle with funding and access to international networks. Botswana, with its stable government and focus on tech-led diversification, is a perfect place for Techstars to make a difference.
This isn’t Techstars’ first stop in Africa. Back in 2022, they launched the ARM Labs Lagos Techstars Accelerator in Nigeria, targeting fintech and proptech startups. It kicked off with 12 startups from Nigeria and Kenya and saw some success, but the programme was discontinued in November 2024. Now, they’re shifting their focus to Botswana, aiming to create a thriving hub for innovation in the region.
This move could reshape the startup scene in Southern Africa. Beyond mentorship and funding, Techstars hopes to boost cross-border collaboration and attract investor interest, making Botswana a regional innovation hub. Plus, it ties in perfectly with Botswana’s push to diversify its economy beyond diamond mining by focusing on technology and innovation.
For entrepreneurs, this is a golden opportunity to grow their ventures with world-class resources and guidance. And for the region, it’s a chance to build a more connected startup ecosystem where businesses can share knowledge and thrive together.
In short, Techstars’ launch in Botswana is a big deal — not just for the country but for the entire continent. By empowering startups and fostering innovation, they’re helping shape a new era of entrepreneurial success in Africa.
LemFi raises $53M after expanding into Europe
Just a few days after LemFi revealed its expansion into Europe, the Nigerian fintech specialising in cross-border remittances has shared more exciting news.
What's the news? The company just raised a huge $53 million in funding, led by Highland Europe, with support from existing investors like Left Lane Capital, Palm Drive Capital, and Y Combinator, along with new investors like Endeavor Catalyst.
Started in 2020 by Ridwan Olalere and Rian Cochran, LemFi lets users send, receive, and hold money in multiple currencies with competitive exchange rates, no transaction fees, and super-fast transfers. Basically, it’s fixing the headache of expensive and slow money transfers.
Last year, LemFi raised $33 million to expand into markets like China, India, and Pakistan. Now, with this fresh $53 million, they’re targeting big European markets like the UK and Germany, where there’s a large African immigrant population. They’ve already cleared the regulatory hurdles, so they’re ready to roll.
Co-founder Olalere says the goal is simple: make cross-border money transfers seamless and affordable for Africans abroad. “This funding lets us reach even more communities and redefine how money moves across borders,” he said.
By focusing on underserved immigrant communities, LemFi is tackling a real need for accessible and affordable financial services. With this new funding, they plan to scale operations, improve their tech, and grow their user base.
In case you missed them
- Funding to African female founders hit a five-year low in 2024
- Amazon Web Services embraces naira to simplify Nigerian transactions
- Sistema.bio secures $3.5 million from Novastar Ventures to scale African renewable energy solution
- Nigeria to expand fibre optic network by 90,000 km with $2 million US grant
What I'm watching
- Jordan B Peterson: You Need To Listen To Your Wife! We've Built A Lonely & Sexless Society!
- The Islamic World: 1000 Years in 18 Minutes
Opportunities
- Techpoint Africa is hiring a Market Research and Innovation Analyst. Apply here.
- Join Zachariah George, Managing Partner at Launch Africa Ventures and Maina Murage, Principal at Norrsken22 today, Wednesday, January 15, 2025, as they share insights on the venture capital outlook for Africa in 2025. Register here.
- Moniepoint is hiring for several roles. Apply here.
- Celebrate the New Year with delightful stories like Smart Couples. Call 421 on your Airtel line now — you won't be charged! Alternatively, call 07080601391 at your network's regular rate. Learn more here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a wonderful Wednesday!
Victoria Fakiya for Techpoint Africa.