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Victoria from Techpoint here,
Here’s what I’ve got for you today:
- This VC wants to buy Kenya’s BNPL for $24.5M
- Nestuge is helping Nigerian creators get paid
- Kenya moves to ban online booze sales
Engage Capital to acquire Kenya’s Lipa Later for $24.5M
Lipa Later, the Kenyan buy now, pay later (BNPL) startup that stumbled into administration earlier this year, might just be getting a second shot. Per TechCabal, Engage Capital, a venture firm focused on Kenya, has made a $24.5 million bid to acquire the struggling fintech. The offer, made in May 2025 via a letter of intent, would see Engage take over Lipa Later’s tech, licences, customer base, and clear some of its debts, though not the bad loans.
This could be a rare redemption story in Kenya’s startup scene, where administration usually spells doom. If the deal goes through, Lipa Later would become one of the few African startups to claw back some value post-collapse. Most others get bogged down in court processes, unpaid debts, and investor silence. So yes, this could be a big deal.
Founded in 2018 by Eric Muli and Michael Maina, Lipa Later was once considered one of East Africa’s most promising fintechs. It raised over $16 million from big-name backers like Cauris, Lateral Frontiers, Orbit Startups, and Founders Factory Africa. At its peak, the company was operating in Kenya, Uganda, and Rwanda, and had Nigeria and Ghana in its sights.
But things started falling apart in 2024. The company couldn’t close another funding round, struggled to pay staff, and watched debts stack up. By March 2025, it had officially gone into administration. Behind the scenes, Engage Capital had already started takeover talks, which picked up speed once administrators stepped in.
The deal on the table doesn’t just buy tech and users, it’s Engage betting on the idea that BNPL still has legs in Africa if done right. And maybe they’re onto something. Access to credit is still a major gap across the continent, and if Engage can rebuild trust and clean up operations, there’s still room for growth.
While co-founder Eric Muli confirmed to TechCabal that talks are ongoing, he didn’t share much, citing court processes. For now, all eyes are on whether this will be just another near-miss or the start of a surprising turnaround in East Africa’s fintech space.
Nestuge is helping Nigerian creators get paid
While a lot of Nigerians are doing everything they can to japa, Nelson Eze did the opposite. He packed his bags and came back to Nigeria to build something. The idea for Nestuge came after a frustrating attempt to pay for an online class back in 2021. According to him, he had to dig through a WhatsApp status just to get the account number, make a transfer, send proof of payment to the creator, basically hustle for something that should’ve been seamless.
That frustrating moment turned into motivation. Nelson teamed up with Ruth Okoli and Jude Enete to build Nestuge, a monetisation platform for digital creators, experts, and coaches. “It helps them earn money from their audience,” he told Techpoint Africa. Think of it as the missing piece between having an audience and making money from it.
While platforms like Instagram and X help creators build a following, they don’t help when it comes to earning. Especially in Nigeria, monetising that online clout can be hard. Nestuge doesn’t try to replace these social platforms. Instead, it plugs right into them, giving creators an easy way to charge for exclusive content, host courses, or get paid for their expertise.
So, how exactly does Nestuge work? And what kind of creators are already using it? Bolu breaks it all down in this story.
Kenya moves to ban online booze sales
Teenagers in Nairobi can order vodka as easily as they order pizza, and that’s exactly what Kenya wants to stop. In a sweeping new proposal, the government is planning to ban all online alcohol sales, home deliveries, and vending machines, citing how digital platforms have made it dangerously easy for underage Kenyans to get a drink. If passed, your favourite alcohol delivery app might be gone for good.
The ban is part of the country’s bold 2025 National Policy on Alcohol, Drugs, and Substance Abuse, which also includes raising the legal drinking age from 18 to 21. According to the National Drug Control Authority (NACADA), the goal is simple: stop alcohol from getting into the hands of kids, many of whom are now taking their first sip before they even turn 10. No jokes, kids as young as six are reportedly exposed to alcohol at home.
What’s scarier? One in ten high school students admits to drinking, and university stats are worse. 87.3% of students say they drink. That’s a whole crisis, per the country, and NACADA isn’t holding back. They’ve proposed banning celebrity endorsements, alcohol ads on kids’ TV shows, and even putting health warnings on every bottle, just like they do for cigarettes. Plus, bars and liquor shops will no longer be allowed near schools, churches, or estates.
If all of this sounds familiar, it’s because Kenya has tried similar moves before. Remember the 2010 “Mututho Law”? It brought in bar time restrictions and age checks, but enforcement was weak and corruption let many offenders off the hook. This time, NACADA says it wants more than just rules; it wants cultural change. That includes rehab centres, training for teachers, and even workplace programmes to help people spot the signs of addiction.
But not everyone’s clapping. Industry players warn that banning online sales and tightening regulations could hurt the economy. Alcohol taxes are a big deal for government revenue, and shutting legal channels might just drive people to even more dangerous, illicit drinks like chang’aa and muratina. It’s the same cycle we’ve seen before — crackdown, black market, rinse, repeat.
So, will this new 2025 policy finally be the one that sticks? With online booze sales in the crosshairs and stricter laws on the way, Kenya is taking a hard stance. But without serious enforcement and economic balance, it could either be a gamechanger or another failed attempt at controlling the bottle.
In case you missed it
- Startups grew, but not because of him: How Muhammadu Buhari shaped Nigeria’s tech ecosystem
What I’m watching
- How did Christianity become the most popular religion on Earth?
- The surprising science of happiness | Dan Gilbert
Opportunities
- M-KOPA is recruiting a Senior Backend Engineer. Apply here.
- Mastercard Foundation is hiring a Lead, Associate Engagement and Services. Apply here.
- Jumia is hiring a Chinese-speaking key account manager. Apply here.
- AltSchool Africa is looking for a Program Associate. Apply here.
- MTN Nigeria is looking for a Manager (Public Sector, Southwest region). Apply here.
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa.
