Ghana reconsiders high telecom levies

Nǐ hǎo,

Victoria from Techpoint here,

Here’s what I’ve got for you today:

Ghana reconsiders high telecom levies
African startups hit $1B in 5 months
Telkom bounces back with first dividend in five years

Ghana reconsiders high telecom levies

Ghana’s government is rethinking the hefty number of taxes placed on the telecom sector. The Minister for Communications and Digitalisation, Ursula Owusu-Ekuful, recently shared that the current 39 different taxes affecting the telecom industry are under review, and might be cut down soon.

These taxes, according to industry stakeholders, are making it tougher to do business and are stifling innovation. From levies on towers to regulatory fees and other charges, the telecom industry is feeling the heat. It’s gotten so bad that operators are calling for urgent reforms.

Speaking at a public event, Owusu-Ekuful admitted the tax burden was heavy and not sustainable. She added that the government is actively engaging with the Finance Ministry to streamline the taxes and hopefully improve conditions for telcos and digital businesses in Ghana.

This isn’t the first time the conversation has come up. Industry players have been sounding the alarm for years, saying the over-taxation limits their ability to expand networks and offer more affordable services to users. In short, the current system may be hurting the digital transformation goals Ghana is chasing.

Related Story: Ghana to launch e-Cedi in 2025 after years of delay

The minister also hinted at broader digital reforms coming, including a focus on improving broadband access and digital skills. But she made it clear: these tax issues must be tackled first if Ghana is serious about building a thriving digital economy.

Fingers crossed this review leads to real change and not just another talk show. The industry, and ultimately the average Ghanaian Internet user, needs a break.

African startups hit $1B in 5 months

African startups have hit a major milestone, raising $1 billion between January and May 2025. That’s a solid 40% jump from the same time last year. The year kicked off strong with $289 million raised in January alone, but the buzz didn’t last. Things slowed down to $119 million in February and dipped even lower in March, with just $50 million raised, the lowest so far.

Fortunately, April brought some hope with a strong rebound of $343 million, signalling renewed investor confidence. But that bounce didn’t last long. May cooled things off again, with $254 million raised across 39 disclosed deals. Still, the ecosystem stayed afloat, and the total for the first five months still cracked the billion-dollar mark. Not bad at all.

Zooming out, the bigger picture looks even better. Between June 2024 and June 2025, African startups raised over $2.5 billion, the best 12-month stretch since early 2024. And leading that charge is Egypt. The North African country has quietly taken the top spot in 2025, raising $330 million so far; that’s nearly a third of all disclosed startup funding on the continent.

Egypt dominated the May leaderboard too, with six out of the seven startups that raised over $10 million. Proptech startup Nawy took the crown, raising a whopping $75 million (a mix of Series A and debt). Other big hitters included MNT-Halan with $50 million, Valu with $27 million from Saudi investors, fintech firm Thndr at $15.7 million, Slyndr’s $15 million, and MoneyFellows with a $13 million pre-Series C.

South Africa didn’t sit this one out, though. Healthtech firm AURA raised $15 million in a Series B round co-led by Partech and the Cairo Angels Innovation Fund. Across the board, the continent’s Big Four — Egypt, South Africa, Nigeria, and Kenya — continue to dominate startup funding. South Africa accounted for 26%, Nigeria for 15%, and Kenya pulled in 12%. Kenya, which led early in the year, has gone a bit quiet lately.

So yes, even with the funding highs and lows, Africa’s startup scene is staying alive and kicking. There’s cautious optimism in the air, and Egypt’s breakout year just might be the momentum the continent needs to keep building. Investors are watching, and startups are still making moves.

Telkom bounces back with first dividend in five years

Telkom is back in the dividend game for the first time in five years, and it’s all thanks to a stellar financial year that saw pr0fits skyrocket by nearly 300%. The telecoms giant reported a whopping R7.5 billion ($425 million) in pr0fit for the 2024/2025 financial year, up from just R1.9 billion ($110 million) the year before. The boost was largely driven by the sale of its tower business, Swiftnet, to Actis and Royal Bafokeng Holdings for R6.75 billion ($381 million).

While the Swiftnet deal alone added R4.4 billion ($249 million)to Telkom’s bottom line, it wasn’t the only thing fuelling the surge. Telkom also saw a 3.3% bump in group revenue, from R42.46 billion to R43.88 billion (~$2.48 billion). A big chunk of that came from its mobile services, which saw a 10.2% increase in revenue thanks to a 19.5% jump in mobile subscribers, now at 15.2 million.

Telkom’s fibre game is also strong. Data revenues from fibre services climbed 10%, with its consumer-facing Openserve division seeing 5.9% growth and BCX, which serves enterprise customers, pulling off a 12.7% jump. Plus, Telkom sold off 57 properties from its Gyro portfolio, generating an extra R730 million (~$41 million) in cash.

The company’s earnings per share tell the same success story. Headline earnings rose nearly 45%, and basic earnings per share shot up by over 296%, from 386 cents to 1,528 cents. All that good news has paved the way for a shareholder payout of R2.61 per share, which totals a cool R1.3 billion($73 million).

CEO Serame Taukobong says this strong showing reflects Telkom’s shift toward being South Africa’s “digital backbone.” He credits the company’s data-first strategy and sharp focus on operational efficiency, which has helped it grow EBITDA by over 25% and improve cash flow from core operations by 19.3%.

Looking ahead, Telkom says it’s feeling confident enough to continue paying dividends in the next financial year. With a leaner, more data-driven sales team, continued investment in networks, and customer-first pricing models, the telco seems well-positioned to build on this momentum. For shareholders and mobile users alike, Telkom’s bounce-back is one to watch.

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