Kenya 🇰🇪 Africa’s Rising Tech Leader with $638M Secured!

Hi techies!

After a brief hiatus, My Tech Story Africa newsletters are officially back, and we’re determined to be your go-to source for tech conversations.

Per usual, we're always on the lookout for the latest tech and innovation trends to keep you ahead of the curve.


But first…

We've just launched a major website (https://www.mtsafrica.co/) upgrade, and we're excited for you to see it! Check it out & let us know what you think 👇🏾
See what's new on our website 🧡 (https://www.mtsafrica.co/)

Now let’s get down to business!

#ICYMI, Here’s your weekly tech roundup:
* Kenya leads Africa’s tech ecosystem, raising an impressive $638M in 2024
* TikTok in Turmoil: Will It Survive the U.S. Ban?
* HPE Secures $1B AI Server Contract
* Upcoming VC Dinner & Funding opportunity
* Podcast Spotlight: My Tech Story Africa Is Live!
* The Monthly Tech Roundtable


Kenya leads in Africa Tech Ecosystem

Kenyan startups have cemented their position in Africa’s tech ecosystem, securing $638M (Ksh 82 billion) in funding alongside Egypt, Nigeria, and South Africa.

Together, these four countries account for 84% of the $2.2 billion invested in African startups. Despite a challenging year marked by a 25% drop in funding due to global capital shortages, 2024 has shown promising recovery, particularly in Q1.

East Africa establishes its lead over Southern, Northern and Western Africa. Kenya led with $638M (Ksh 82 billion), startups like SunCulture (https://sunculture.io/) , Roam (https://www.roamadventureco.com/?srsltid=AfmBOoq06vh8ak1i3IFam3wPnkiv6swXkCfcQjcUhUw2usWAnzbgemf7) and Pula (https://www.pula-advisors.com/) accounted for 33% of the continent’s tech ecosystem.

SunCulture (https://sunculture.io/) an AgriTech startup, empowers small-scale farmers to boost crop yields and reduce water usage through solar-powered irrigation solutions.

With over 50% market share in Africa’s smallholder farmer irrigation systems, SunCulture has attracted significant foreign investment in 2024, supporting efforts to combat climate change through technology.

Roam (https://www.roamadventureco.com/?srsltid=AfmBOooNggWfrOg9nU7fHqOT20jy1lSajL6nUegOCWph4-jasMX3HaXo) transforms the African transport system by introducing innovative products that are both reliable and cost effective.

The Kenyan electric mobility startup designs and manufactures electric vehicles and motorcycles  locally. Founded in 2017, the startup has secured grants from the US government’s Development Finance Corporation (DFC).

Pula (https://www.pula-advisors.com) an AgriTech insurance and technology company, supports small-scale farmers in Africa by combining innovative, affordable agricultural insurance with digital solutions like seeds and credit to help them navigate climate-related challenges.

Tanzania and Uganda were not left behind with Tanzania raising $51M and Uganda $19M.

Key players include Tanzania-based fintech startup Nala (https://www.nala.com/) , which focuses on enabling fast, secure, and reliable money transfers and payments across African countries like Ghana, Kenya, Tanzania, and Uganda, as well as Eurozone nations, including the UK and US.

In the West African region, Nigeria came second after Kenya, $410M was obtained with Ghana procuring $68M and Benin followed closely with $50M.

Among the startups that stood out were like: Moniepoint (https://moniepoint.com/) in Nigeria that aims to assist SMEs and individuals make payments, banking, credit and business management tools accessible.

Also hailing from Nigeria, Moove (https://www.moove.io/) was founded by Ladi Delano and Jide Odunsi to contribute to a more sustainable world by building and producing hybrid and EV fleets.

The delivery app empowers the locals with vehicle financing to ride hailing at your convenience.

Coming in third place overall was Egypt from North Africa with $400M. That region alone has a total of $478M translating to 22% of the funds that Africa raised.

Fintech’s in Egypt like;MNT-Halan (https://mnt-halan.com/) and Paymob (https://paymob.com/) are created to provide financial and electronic services to SMEs through mobile wallet technology.

South Africa secured fourth place with  $393M which is approximately 18% of total funding in 2024.Statistics from Big Deal state that the Southern Africa region had a significant drop of 36% caused by only investing in South Africa leaving out other countries in that region.

Nonetheless, funding is starting to return to the ecosystem as 2025 begins on a high note.

TikTok in Turmoil: Will It Survive the U.S. Ban?

TikTok (https://www.tiktok.com/@tiktoknewsroom?lang=en) , the globally popular platform owned by Shou Zi Chew, is at the center of controversy in the U.S., facing a potential ban over national security concerns. Lawmakers have accused its Chinese parent company, ByteDance (https://www.bytedance.com/en/) , of collecting data from TikTok’s 170 million American users and manipulating content to serve China's geopolitical interests.

In December 2024, the Biden administration issued ByteDance an ultimatum: sell TikTok or exit the U.S. market by January 19, 2025. TikTok pushed back, accusing the administration of failing to provide the necessary assurances to its service providers.

As the deadline approached, TikTok preemptively shut down its operations, leaving users with a message explaining the app’s unavailability.

Americans quickly turned to alternatives like Red Note, a Chinese app styled as a seamless and secure replacement.

Red Note’s CEO, Charlwin Mao Wenchao assured the users of a seamless and data protected appealing alternative.  “I am confident in the app’s ability to capture the attention of both users and advertisers while making it a transparent platform.” Wenchao added.

Meanwhile, TikTok’s linked editing app, CapCut, also disappeared from app stores, creating further disruption for creators.

As small businesses and users grappled with the ban, TikTok came back to life less than 24 hours of shutdown.

This came after TikTok posted a statement on X (https://twitter.com/) that stated, “We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok” to over 170 million Americans and allowing over 7 million small businesses to thrive.

The question remains: will Trump delay the ban to facilitate a sale or alternative solution? The future of TikTok hangs in the balance as the nation waits for the next chapter.

Hewlett Packard Enterprise Lands $1 Billion AI Server Contract

U.S based firm,Hewlett Packard Enterprise (https://www.hpe.com/us/en/home.html) (HPE) has secured a massive $1 billion contract to supply Artificial Intelligence AI servers to X (https://x.com/) formally known as Twitter.

This deal solidifies HPE’s position in the rapidly expanding AI market.

The contract includes High-Performance Computing (HPC) systems, storage solutions, and networking infrastructure designed to support machine learning, deep learning, and other AI workloads.

HPE's AI servers are already trusted by leading tech firms, researchers, and scientists for cutting-edge applications.

This agreement highlights the growing demand for AI solutions and affirms HPE's strength in enterprise IT.

Beyond hardware, HPE offers software like its Machine Learning Development Environment (MLDE), enabling seamless AI model development and deployment.

The company also invests heavily in AI research through partnerships with universities and global institutions.

As AI continues to shape industries, HPE’s expertise positions it as a leader in the field.


** Opportunities You Can’t Miss!
------------------------------------------------------------

Nairobi VC Dinner Night

Date: Friday 31 January

Time: 17:00 - 18:00PM EAT

Venue: The Social House, Nairobi

An exclusive gathering of visionary key tech stakeholders, VCs, Investors, Funders, & and Ecosystem enablers. This event is designed to foster meaningful connections, spark collaborations, and unlock opportunities to drive innovation and growth within Africa’s entrepreneurial landscape.

​Engage in insightful discussions over a curated dining experience.

​Limited seats available. RSVP now to secure your spot!
RSVP here (https://lu.ma/zge6oxk9?locale=en-GB&tk=aCnlZv)

O’Shaughnessy Fellowship

Application deadline: February 28th 2025

What if you had $100k to pursue your boldest ideas?

The O’Shaughnessy Fellowships & Grants program unites the world’s most bold and undiscovered researchers, builders, and creatives from all over the world to discover, build, and spread path-breaking ideas and supports their journey with equity-free funding of up to $100,000.

The Fellowships and Grants empower individuals of the highest caliber whose work positively impacts the world, from scientific breakthroughs and technological innovations to enduring artistic and cultural contributions.

If you’re working on something that can improve the world, this is a great opportunity for you!
Apply now (https://www.osv.llc/oshaughnessy-fellowships)


** The My Tech Story Africa Podcast is live!
------------------------------------------------------------

The MTS Africa podcast (https://linktr.ee/mytechstoryafrica) is currently ongoing! Tune in every Wednesday at 11:00 am EAT and make sure to subscribe so that you don’t miss out.

The latest episode featured June Okal, a pioneering force at the intersection of technology, policy, and law in Africa. Currently serving as the senior manager for East and Southern Africa at the Internet Corporation for Assigned Names and Numbers (ICANN)

Throughout the discussion, June repeatedly emphasizes the importance of meaningful connectivity for Africans, the need for African representation in global tech policy discussions, and the critical role of narrative-building in sharing African stories.
Watch the full episode 🧡 (https://www.youtube.com/watch?v=pRLylThK5Us)


** Crypto Bill in Kenya, Jaguar’s EV Pivot, The Truth Behind Carbon Credits
------------------------------------------------------------

In our latest roundtable episode, we sat down with Dominic Mulinda (Head of Product, HoneyCoin) and Evans Munene (Software Engineer, Google) to explore:
* Kenya's Crypto Regulation Bill: Dominic explained how the new legislation balances innovation with oversight, aiming to position Kenya as a leading crypto hub in Africa.
* Jaguar’s Electric Future: The duo debated Jaguar’s pivot to EVs. Evans questioned the move’s viability, while Dominic argued it’s inevitable, with Tesla and BYD setting the pace.
* Carbon Credits in Africa: A critique of their environmental impact and failure to uplift local communities bearing the costs.
* Nvidia’s AI Gamble: Evans compared Nvidia’s trajectory to the dot-com bubble, while Dominic viewed AI as a game-changer that justifies its ambitious bets.

You have three options:
1. Watch the full episode on our YouTube channel (https://www.youtube.com/@MyTechStoryAfrica)
2. Listen to the podcast on audio platforms (https://linktr.ee/mytechstoryafrica)
3. Click the link below 👇🏾

Listen to the Tech Roundtable episode 🧡 (https://www.youtube.com/watch?v=7eo4xrZRSoA&t=325s)

That’s all for now folks!

Feel like we missed something? Or you’d like to engage with us? We’d love to hear from you!

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Yours in Tech,
Charity Wanjugu

Edited by,

Alice Kanjejo.
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