Kamusta,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- SA may open doors to new telecom players
- Nigerian startup beats Israeli firm in a $1.2M security deal
- Valu approved for EGX after $27M boost
SA may open doors to new telecom players
South Africa’s new communications minister, Solly Malatsi, has ordered the Independent Communications Authority of South Africa (ICASA) to look into whether the country needs more network operators. In a government notice published on 21 May 2025, Malatsi gave the regulator six months to investigate and report back.
At the heart of the inquiry is whether ICASA should issue more individual electronic communications network services (I-ECNS) licences, the kind that let operators build and run their telecom infrastructure nationwide.
There are already around 490 I-ECNS licences in circulation, but no new ones can be issued unless the minister gives the green light. That’s led to a weird workaround: people are buying licences from current holders because new applications aren’t being accepted.
Malatsi wants the inquiry to dig into whether issuing more licences would improve competition, help more people get online, and if the benefits outweigh the cost of policing more players in the space, financially and environmentally.
The Internet Service Providers’ Association (ISPA) has been pushing for this change for a while. They argue the current system puts unnecessary barriers in the way of new entrants, especially small businesses, while letting licence holders profit from simply reselling them.
Some ISPA members say it’s become a game for the rich, where smaller operators, even black-owned SMMEs, can’t afford the R1 million-plus price tag and long transfer process. Malatsi’s directive could shake things up and bring much-needed change to the sector.
Nigerian startup beats Israeli firm in a $1.2M security deal
A Nigerian startup just beat out an Israeli firm for a $1.2 million security deal, proving local tech can more than hold its own. Terrahaptix, an autonomous systems company based in Abuja, clinched the five-year contract from private security firm Nethawk Solutions to secure two hydroelectric power plants in Shiroro and Gurara, Nigeria.
The deal includes the delivery of around 10 drones and several solar-powered Sentry Towers, all powered by the company’s proprietary Artemis OS, an AI-driven platform that detects and classifies threats. But this isn’t just a hardware sale: Terrahaptix will also rake in a six-figure annual software subscription fee, giving the startup recurring revenue and a foothold in the hydroelectric sector.
CEO Nathan Nwachukwu says Artemis OS is what sealed the win. The AI is sharp enough to identify threats like armed bandits hiding out at the power plants, estimate their numbers, and even assess how heavily armed they are. “It’s our biggest contract so far and the first one in this sector,” he said.
Terrahaptix’s edge? It builds everything, including drones, ground robots, and software, in one ecosystem, much like how Apple products work together. That seamless integration, along with local manufacturing and materials (80% sourced in Nigeria), means their solutions are up to 50% cheaper than the competition.
The startup, which operates a 15,000-square-foot facility in Abuja, already has clients in five African countries. With $2 million in orders this year and more to come, Nwachukwu is confident: “This deal puts us firmly on the path to becoming Africa’s go-to provider for autonomous security solutions.”Still want to hear the news from Bolu? You can read it here.
Valu approved for EGX after $27M boost
Valu, one of Egypt’s rising fintech stars, is officially on its way to the stock market. The Egyptian Exchange (EGX) has greenlit the company’s listing, and as part of the move, parent company EFG Holding will hand out 20.488% of Valu’s shares to its shareholders, replacing the usual cash dividend for 2024.
This means EFG investors are getting a slice of Valu directly, a move designed to give them more skin in the game as the consumer finance firm grows. Of course, this all depends on final approvals from regulators, but once cleared, those shares will be tradable on the EGX.
In the background, Valu just closed a $27 million funding round from Saudi investors, including the Saudi Investment Bank and Sanabil Investments. That fresh capital is expected to fuel its product expansion and digital upgrades, especially now that it has a full fintech license in Egypt.
Valu has made a name for itself with its buy now, pay later (BNPL) services, and the new licence allows it to push deeper into digital finance. The firm wants to go beyond BNPL and build out a broader range of consumer finance tools, all fully digital.
EFG Holding will still keep majority control of Valu after the listing, but the market debut is a big milestone for the fintech, signaling growing confidence in Egypt’s tech-driven financial services sector. The exact listing date? Still to be announced once the red tape clears.
In case you missed it
- African migrants could pay more to send money home under Trump’s new US tax bill
What I’m watching
- Soul and Spirit | Is there a Difference? [Dichotomy vs. Trichotomy]
- What Does the AI Boom Really Mean for Humanity? | The Future With Hannah Fry
Opportunities
- Want to exhibit or attend the Lagos Startup Expo in June? Visit this website here.
- MTN is recruiting for several roles. Apply here.
- IHS Towers is looking for professionals to fill several roles. Apply here.
- Moniepoint is hiring for several positions. Apply here.
- Kuda is recruiting for several roles. Apply here.
- Stanbic IBTC is looking for a Business Segment: Insurance & Asset Management. Apply here.
- Building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
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Have a fun weekend!
Victoria Fakiya for Techpoint Africa.
