Konnichwa,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Kenyan EV startup Arc Ride secures $10M
- How Bleyt plans to make foreign banks trust Nigerians again
- Canal+ wraps up $2B MultiChoice takeover, finally
Kenyan EV startup Arc Ride secures $10M
Kenyan e-mobility startup Arc Ride just bagged $10 million in debt financing from a Paris-based sustainable investment manager Mirova to to scale its battery-swapping network for electric motorcycles. It’s the first time Mirova’s $282 million Gigaton Fund is putting money into Africa’s EV space, and it’s a big nod to the continent’s growing two-wheeler market.
For Mirova, which manages €33 billion in assets, this isn’t just another deal. It’s a strategic move into a market projected to grow more than 10% annually through 2029, with boda bodas — the motorcycle taxis that keep Nairobi moving — at the heart of it. The financing is structured as a five-year senior secured loan, and Arc Ride plans to roll out 600 battery-swapping cabinets and 25,000 batteries across Kenya.
CEO Joseph Hurst-Croft called the partnership a “major milestone” in Arc Ride’s mission to make EVs more accessible and sustainable. This move came after the company disclosed $5 million in funding in May 2025 to expand its electric motorbikes in Kenya.
Arc Ride’s Battery-as-a-Service (BaaS) model lets riders swap a dead battery for a charged one in minutes, cutting fuel costs and solving the range anxiety problem that usually dogs EV adoption.
For Kenya’s boda boda riders, many of whom are gig workers navigating volatile fuel prices, this could be game-changing. Switching to electric lowers upfront ownership costs and wipes out fuel expenses altogether, while the environment benefits too, each electric bike cuts about two tonnes of CO₂ emissions a year compared to a petrol one.
Mirova says the deal is structured using blended finance to de-risk the investment and pull in more private capital down the line. Having boots on the ground in Nairobi also helped the French firm source and structure the deal. “Arc Ride is redefining urban mobility in Africa,” said Rim Azirar, Deputy Head of Emerging Market Energy Transition at Mirova.
It’s the latest sign of momentum in Africa’s EV scene, where startups are racing to build the infrastructure needed to move away from fossil fuels. With fuel prices squeezing riders and climate goals looming, investments like this are setting the stage for a cleaner, cheaper, and more sustainable future for African transport.
How Bleyt plans to make foreign banks trust Nigerians again
AI might feel like the shiny new toy everyone is rushing to play with, but the truth is, it’s been quietly shaping our lives for years. Think Google Maps predicting traffic since 2008, or in Nigeria’s case, Aella using AI to decide who gets loans way back in 2017. Amazon’s CTO even called Aella’s work the “future of banking.”
One of the brains behind that innovation was Wale Akanbi, Aella’s former CTO. On a call with Techpoint Africa, he recalled how the startup cut lending decisions down to just four minutes using machine learning. “This was long before AI became what it is today. It was quite fascinating,” he said.
Now, Akanbi is back with a new venture called Bleyt, a fintech tackling one of the most frustrating issues Nigerians face abroad: being financially invisible. The platform lets Nigerians export their transactions and credit history when they move or travel, so foreign banks don’t automatically slam the door in their faces.
It’s a problem Akanbi knows all too well. When he travelled to the UK with his family in 2021, they couldn’t spend money. He had to send naira to a friend and rely on that friend’s card for the entire trip. Even worse, opening a bank account wasn’t an option — not because of his financial profile, but simply because he was Nigerian.
Other solutions exist — from LemFi to TapTap Send — but they don’t address the root problem: Nigerians often can’t even open foreign bank accounts to begin with. That’s where Bleyt comes in. Want to know how it works? Find out in Bolu’s latest for Techpoint Africa.
Canal+ wraps up $2B MultiChoice takeover, finally
Canal+ has finally wrapped up its massive $2 billion takeover of MultiChoice, closing a deal that’s been months in the making. The announcement came on Monday, September 22, 2025, after all the regulatory hurdles and shareholder approvals were cleared.
The deal wasn’t straightforward. South Africa’s laws limit foreign ownership of broadcasting licences to 20%, which meant Canal+ had to get creative. MultiChoice set up a new entity called LicenceCo to hold the broadcasting licence, keeping things compliant with local rules.
Under the arrangement, MultiChoice controls 20% of LicenceCo’s voting rights but enjoys a bigger 49% economic interest. The rest is spread among historically disadvantaged persons (HDPs) and local partners like Phuthuma Nathi and the MultiChoice Workers Trust. This was the compromise that won over regulators like ICASA and the Competition Tribunal.
MultiChoice’s shareholders and employees also stand to benefit. There’s a R1.375 billion extraordinary dividend on the way, with Phuthuma Nathi and other South African shareholders set to get a piece. Job protections, supplier diversity, and local content investment were also part of the deal’s conditions.
For Canal+, this acquisition is game-changing. It now controls Africa’s largest pay-TV empire, combining its strong base in French-speaking markets with MultiChoice’s dominance in English-speaking regions. The timing is critical too, as global streamers like Netflix, Amazon Prime Video, and Showmax continue to fight for African eyeballs.
Big leadership changes are also underway. David Mignot is stepping in as CEO of Canal+ African operations, Nicolas Dandoy will be CFO, and Canal+ boss Maxime Saada will serve as executive chairman. Outgoing MultiChoice CEO Calvo Mawela will remain on as chairman of Canal+’s African operations, while Timothy Jacobs, the outgoing CFO, takes a senior role in the group’s finance department.
The reshuffled MultiChoice board now features a mix of Canal+ executives and independent directors. Canal+ says the goal is stability during the transition, with a renewed push for sustainable growth. For South African regulators, this looks like a win-win — foreign investment without sacrificing local control.
In case you missed it
- Trump’s $100k fee creates rare opportunity for African talents, but governments must take decisive action
What I’m watching
- From Medicine to Harvard to Building Nigeria’s First $1B Private Equity Firm
- How England Colonized Time
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa
