Добар ден,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- South Africa in talks with China’s Starlink rival
- Payaza gets SEC nod to raise ₦20B
- Algeria declares war on crypto
Payaza gets SEC nod to raise ₦20B
Nigerian fintech Payaza just got the green light from Nigeria’s Securities and Exchange Commission (SEC) to raise another ₦20 billion ($13.3 million) under its ₦50 billion ($33.3 million) commercial paper programme. This comes after a similar approval from FMDQ Exchange back in December 2024.
For CEO Seyi Ebenezer, it’s more than just a regulatory thumbs-up; it’s a major vote of confidence. “This SEC approval is incredibly significant for us. It validates our model, our financial health, and our long-term vision for payments in Africa,” he told Techpoint Africa.
The money won’t come in one go. Instead, Payaza will raise it in two parts — Series 3 and 4 — just like it did with Series 1 and 2. According to Ebenezer, this staged approach gives the startup flexibility to tap into funds when it really needs them, depending on market conditions.
And it’s working. Just last month, the company paid back ₦14.9 billion from its Series 1 raise, a rare feat for a Nigerian startup relying on non-VC funding. It’s a big signal to investors: fintechs here can handle alternative capital like commercial papers and still come out on top.
Founded in 2020, Payaza has been building a name as a pan-African payment infrastructure provider. Whether it’s helping businesses collect payments, send funds, or even use white-label payment solutions, the company has grown steadily across the continent.
With this fresh capital, Payaza plans to scale its infrastructure, roll out more products, and deepen its reach across Africa.
South Africa in talks with China’s Starlink rival
South Africa might soon have a new player in the satellite Internet space and it’s not Starlink. Communications Minister Solly Malatsi recently visited China, where he met with the China Satellite Network Company (CSNC) to explore low-Earth orbit (LEO) broadband solutions aimed at fixing South Africa’s long-standing rural connectivity gap.
The move signals South Africa’s push to close the digital divide, especially in areas where mobile data is either too expensive or Internet access is simply non-existent. CSNC, a state-backed Chinese company, is building a satellite network to rival SpaceX’s Starlink, which is already live in 21 African countries, but not yet in South Africa due to local telecoms licensing laws.
“Access to affordable broadband is no longer a luxury; it’s a necessity,” Malatsi said after meetings in China. “We’re looking at solutions to bridge the last-mile gap in our rural and underserved communities, and satellite broadband is one promising route.”
The Chinese satellite company is working on a massive constellation of nearly 13,000 satellites, orbiting much closer to Earth than traditional satellites. These LEO satellites offer faster speeds and lower latency, critical for real-time activities like virtual learning, health consultations, or even small business operations in remote areas.
Interestingly, while many of South Africa’s neighbours, including Namibia, Lesotho, and Mozambique, have approved Starlink to operate, South Africa still hasn’t. Regulatory requirements for telecom ownership have delayed the process. In the meantime, the Department of Communications seems open to exploring partnerships with other providers, including those from China.
Besides CSNC, Malatsi also met with Huawei and Honor to explore how to make smart devices more affordable for students and entrepreneurs. The visit wrapped up at the 2025 World AI Conference in Shanghai, a sign that SA wants to stay in the game, not just for access but also for innovation.
Algeria declares war on crypto
Algeria has just made one of the strictest moves against crypto on the continent, banning everything from purchasing and selling to even holding or mining digital assets like Bitcoin. The new law, which came into effect on July 24, threatens violators with up to a year in jail and fines of about $7,700 .Simply put, if you’re into crypto in Algeria, you’re now officially breaking the law.
This isn’t Algeria’s first anti-crypto stance. The country first introduced restrictions in 2018, but this latest move takes it to a whole new level. It now outlaws mining, wallet usage, crypto exchanges, and even the promotion of digital currencies. The government says it’s acting to protect the financial system and national grid and to align with global anti-money laundering standards.
The move comes at a time when many young Algerians, especially in the south, have turned to crypto for remittances and off-grid mining, thanks to low electricity costs. But authorities say they’re concerned about the rise of anonymous transactions, terrorism financing, and general instability tied to unregulated digital currencies.
Algeria now joins Egypt and Morocco in slamming the door on crypto. Egypt banned it in 2018, calling it both a financial and religious risk, while Morocco’s central bank outlawed its use back in 2017. Meanwhile, other African countries like Nigeria and the Central African Republic are taking a much more open approach.
Nigeria’s a good example of how crypto bans can backfire. Even when the Central Bank cracked down in 2021, people simply moved to peer-to-peer platforms. The same happened in China. So it’s unclear how effective Algeria’s new law will be and whether it’ll just drive activity underground.
But the bigger picture is this: Africa remains divided on crypto. Some are embracing it as the future, others are doubling down on fear. And with the global crypto market worth trillions, it’s becoming harder to ignore. For now, though, Algerian crypto users have been pushed out with no legal way back in.
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Opportunities
- Pitch Friday is happening on August 8, 2025. To attend, register here.
- MTN Nigeria is hiring an Analyst, Data Proposition teens marketing. Apply here.
- Glovo is looking to fill several roles. Apply here.
- Airtel Africa is recruiting a Data Engineer. Apply here.
- Meta is looking for a Privacy Policy Manager, sub-Saharan Africa. Apply here.
- BIC is hiring a Manager, Direct Procurement for Middle East & Africa. Apply here.
- Businessfront, the parent company of Techpoint Africa, is looking for a Researcher and Scriptwriter Intern for Businessfront TV. Apply here.
- TetradPay is looking for a Content and Communications Specialist. Apply here.
- TetradPay is looking for a Marketing and Growth lead. Apply here.
- TetradPay is looking for a Creative and Design Executive. Apply here.
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Have a superb Thursday!
Victoria Fakiya for Techpoint Africa.
