Nigeria’s taxman taps DigiTax for national e-invoicing rollout

Bonjour,

Victoria from Techpoint here,

Here’s what I’ve got for you today:

• Nigeria’s taxman taps DigiTax for national e-invoicing rollout
• LoveCash is bringing SA’s informal sector on the blockchain
• Suplyd bags $2M to fix Egypt’s $10B restaurant market

Nigeria’s taxman taps DigiTax for national e-invoicing rollout

DigiTax, a Kenyan startup that helps businesses connect directly to tax authorities, just got the green light from Nigeria’s Federal Inland Revenue Service (FIRS). It’s now officially an Access Point Provider and System Integrator, meaning it can link companies to Nigeria’s new e-invoicing platform as the country ramps up digital tax enforcement for large firms.

This marks DigiTax’s entry into West Africa and its third active market after Kenya and Zambia. In those countries, the company is already working with government-mandated tax platforms like eTIMS and Smart Invoice. Now, Nigeria, Africa’s second-largest tax base after Kenya, is the latest on its list as authorities tighten oversight and push for real-time compliance.

The FIRS launched its national e-invoicing system under the Electronic Fiscal System (EFS) last month, July, with full enforcement kicking off on August 1, 2025. Large companies, those earning ₦5 billion ($3.3 million) or more annually, are required to register and start transmitting their invoices in real time. DigiTax is stepping in to make that transition smoother.

Over 800 businesses already use DigiTax across sectors like retail, pharmaceuticals, and manufacturing. It integrates with tools many companies already use, including QuickBooks, Zoho, Odoo, and Sage, so onboarding doesn’t have to be a headache. In Nigeria, the platform is tailored to meet FIRS’s exact specs, covering everything from invoice validation to API integrations.

The startup’s entry into Nigeria is part of a bigger strategy: target regions where tax systems are going digital and where their clients already do business. It earns revenue through subscriptions, transaction fees, and integration costs, serving both big enterprises and SMEs with ambitions to grow.

Backed by Equitable Ventures, Higa VC, and a few angels, DigiTax runs a 25-person team focused on tax, engineering, and customer ops. As more African tax authorities go digital, DigiTax wants to be the default plug-in for staying compliant across borders.

LovCash is bringing SA’s informal sector on the blockchain

South Africa’s FMCG market moves over $10 billion in goods every month, yet most manufacturers have no clue how their products actually perform once they leave the warehouse. That’s the gap LovCash is stepping into.

Started by Costas Constantinou in 2018, LovCash is on a mission to help manufacturers finally “see” what happens between the wholesaler and the informal trader, and ultimately the consumer. Think of it as Google Analytics, but for small shops and street vendors in African townships.

The startup already works with over 3,700 informal retailers and has signed deals with nine of South Africa’s biggest FMCG wholesalers. Their mobile app is built for spaza shops and cash-based traders who rarely use digital tools. With it, retailers log what they buy, what they sell, how much they charge, and what their customers are asking for.

That data doesn’t just sit in the cloud. It’s stored on Lisk’s layer-2 blockchain, which means it’s verifiable, secure, and shareable without compromising sensitive details about each trader. This makes it super valuable for manufacturers who’ve never had access to that level of market intel before.

Essentially, LovCash isn’t just digitising for the hype. Constantinou says many informal traders still deal 100% in cash, which actually makes business 4% more expensive due to fraud risks, transport inefficiencies, and manual errors. His pitch: solve that pain, not just toss them an app.

LovCash has grown over 275% in the last five months and isn’t slowing down. Want to find out more, including how the company is building for the world? Read Bolu’s latest here for Techpoint Africa.

Suplyd bags $2M to fix Egypt’s $10B restaurant market

Suplyd, a Cairo-based startup helping restaurants manage their supplies digitally, just bagged $2 million in a pre-Series A round. It’s a big step for the company, which is now aiming to grow beyond logistics into becoming a full-on operating system for restaurants.

The funding round was led by pan-African VC firm 4DX Ventures, with support from Egypt’s Camel Ventures, Plus VC, Seedstars, and others. This is not their first cash injection. Suplyd previously raised $1.6 million in a 2022 pre-seed round.

Founded by Gohar Said, Suplyd makes it easier for small and mid-sized restaurants to order supplies, replacing the old-school system of calling multiple vendors with a streamlined digital platform. Right now, it serves over 5,000 restaurants in Egypt’s massive $10 billion  Hotel, Restaurant, and Café (HORECA) market.

The company has grown nearly 20x in both users and transaction volume since its last raise. Now, it wants to be more than a procurement tool. While details are still under wraps, the plan is to build new tools for managing restaurant operations and possibly roll out higher-margin services like software and financial products.

“What started as a bold idea is now powering thousands of restaurants every day,” said Suplyd the CEO. Investors are betting on that momentum. “Their early traction, supplier network, and diversified revenue gave us conviction,” added Peter Orth of 4DX Ventures.

Next up, Suplyd plans to double down on product development and grow across Egypt. By leveraging its current customer base, the company hopes to launch new features seamlessly and give restaurant operators more visibility into their operations with real-time data and insights.

In case you missed them

• MTN Ghana profit surpasses Nigeria’s by $56 million
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What I’m watching

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• Want to attend an evening of connection, conversation, and insight on how data is shaping East Africa’s creative economy? Join Communiqué on Thursday, August 21 at 6pm at Alliance Française, Nairobi, featuring Brian Kimanzi, Mars Maasai (HEVA Fund), Ezy Onyango (PAIPEC-CCI), Wangui Njoroge and more. Register here.
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa.