Mwenendo
African Entrepreneurs
The founders, chief executives and innovators building African business.
KSh 101 Borrowed, KSh 85 in Fees: Fuliza Ya Pochi Charges the Smallest Traders Most
Safaricom's new overdraft for Pochi traders charges a flat nightly fee that weighs heaviest on the smallest debts in the market. Owing one shilling more than KSh 1,000 ($7.70) multiplies the nightly charge 3.6 times, a cliff buried in the terms. The small print also reaches beyond the business till, and Mwenendo names who should change it before December.
Fuliza Ya Pochi: Safaricom Opens Overdraft Credit to More Than One Million Micro-Merchants
Safaricom has extended overdraft credit to the small traders who take payments through Pochi La Biashara, starting with qualifying merchants. More than one million micro-businesses can now borrow short term, but only if they have actively used Pochi for over six months. Safaricom has not published the borrowing charges or the overdraft limits, so the true cost for traders remains unclear.
Hustler Fund Top-Up: Ruto Pledges Extra KSh 5B for Small Borrowers Before Year End
The government says it will inject another KSh 5B ($38.53M) into the Hustler Fund before the end of 2026, a top-up aimed at the small traders who rely on its loans. The President said the fund has more than 10 million regular borrowers and has advanced KSh 98B ($755.18M) without collateral, figures that are his claims and not independently verified. The source of the money and any change to loan limits were not stated.
Teketeke E-Mobility Seeks Tax Relief for Locally Assembled Electric Farm Motorcycles
Kenyan assembler Teketeke E-Mobility has asked for tax exemptions on locally assembled electric motorcycles and cargo tricycles used to move milk and farm produce to market. The firm says a rider's daily milk transport cost has fallen from KSh 1,000 ($7.70) to about KSh 200 ($1.54), a claim that has not been independently verified. Four units have been presented to the Ministry of Agriculture for possible distribution to farmer groups, while conversion, battery and maintenance costs have not been disclosed.
Market Squeeze: Nigeria's Ride-Hailing Drivers End Four-Day Shutdown After Uber and Moove Exits
AUATON, Nigeria's drivers' union, ended a four-day shutdown on 16 October but still wants a 10% commission cap and fare reviews, after Uber left on 2 September and Moove announced a wind-down. Moove says more than 9,000 Nigerian customers used its products, and eligible customers will receive vehicles worth about KSh 3.42B ($26.32M) with no further payments as the business winds down. Driver accounts reported commission deductions of about 25% on Uber and Bolt, while Bolt says it charges 20% in Lagos, and Lagos petrol rose more than 60% between February and April.
Quickmart Ends Founder-Linked Contracts: Insider Consultancy Fees Stop Before NSE Share Sale
Quickmart terminated several consultancy and management agreements with firms tied to its founders and insiders in July 2026, weeks before its owners opened a KSh 15B ($115.6M) share sale to the public. Two of the firms were paid KSh 429.7M ($3.31M) in 2025 alone, yet 18 related-party store leases and KSh 208.4M ($1.6M) in management fees to parent companies remain in place. The offer sells 2 billion existing shares at KSh 7.50 each, valuing the chain at about KSh 30B ($231M), and all proceeds go to the selling shareholders rather than to Quickmart. The disclosures do not suggest any arrangement was improper, but investors will weigh whether remaining related-party costs and perceived conflicts of interest are priced into the offer.
Agent Banking Exit: Onafriq Winds Down Baxi in Nigeria as Naira Weakness Squeezes Margins
Pan-African payments firm Onafriq is shutting Baxi, the Nigerian agent banking business it bought in 2021, citing currency weakness, inflation, instant transfers and thinner margins. Onafriq will keep its cross-border payments network and card issuing services in Nigeria, and Baxi agents have 30 days to move their funds to a principal bank. Chief executive Dare Okoudjou called the closure a difficult decision, saying the company did not achieve the outcome it set out for in Nigeria.
Electric Forklifts: Finnfund Lends Bisedge KSh 1.46B ($11.2M) to Grow Fleets in Kenya, Nigeria and Tanzania
Finnish development financier Finnfund has committed KSh 1.46B ($11.2M), or EUR 10M, in senior debt to Bisedge Holdings to expand its electric forklift fleets in Nigeria, Kenya and Tanzania. Bisedge provides electric material handling equipment and logistics-as-a-service in Africa, and the article source describes the loan as Finnfund's first electric vehicle investment in Africa. Co-founder and chief executive Christian Wessels says Bisedge aims to lead the transition to electric material handling, a market Finnfund says is still at an early stage.
Entertainment Week Africa Opens Grant Route for Creative Technology Startups
Entertainment Week Africa is expanding its Deal Room to connect creative technology founders with investors, mentorship and a reported grant pool for eligible ventures. The programme targets businesses serving film, music, fashion, live events and publishing, while helping founders refine business models and prepare for investor conversations. Earlier Deal Room editions were linked to a ₦25M seed fund and more than KSh 129.75M (US$1M) in investments and connections, but the current grant pool’s size and terms need confirmation.
Kenyan Agritech Funding Targets Food Waste as Farm to Feed Secures Loan
French development finance institution Proparco says it has invested €150,000 (about KSh 22.08M) in Kenyan agritech company Farm to Feed through a loan signed on 29 September. The platform links fragmented farm supply with predictable buyer demand, helping smallholders sell more produce while reducing losses between farms and the market. The announcement provides primary confirmation for Farm to Feed’s financing, but the other Kenya-linked rounds in the deal tracker require separate company or investor confirmation before inclusion.
Nigerian Startup Funding Slides as September Deal Value Falls
Nigerian startups reportedly raised KSh 1.47B ($11.3M) in September, far below August’s total, which was boosted by three unusually large transactions across mobility, e-commerce and cryptocurrency. The number of companies raising money also declined, while the reported September 2025 total provides a reminder that monthly venture figures can move sharply with a few large deals. The data comes from a published deal tracker rather than a named underlying dataset, so the totals should be treated as reported estimates until independently reconciled.
African Startups Raise More, but the Infrastructure to Scale Remains Uneven
African technology startups raised KSh532B (US$4.1B) in 2025, but the capital was concentrated in a handful of markets and larger transactions rather than spread evenly. Debt financing reached a record KSh213B (US$1.64B), showing that growth-stage businesses increasingly need reliable revenues and assets that lenders can assess. Kenya led total funding with KSh135B (US$1.04B), while South Africa led equity investment, exposing different routes to growth across the continent. Reliable power, broadband, payment systems, skilled workers and cross-border rules can determine whether a promising startup reaches more customers or remains trapped in one market.
Two Cheques: Kenyan Firms Take KSh 12.90 Million Each in a Prize
VunaPay and Kumbatia Seafood each received a $100,000 grant, about KSh 12.90 million, from the FINCA Ventures prize. Six firms shared $400,000, about KSh 51.60 million, after pitches in San Francisco on 6 October. Second place was $60,000 and third was $40,000. More than 700 firms applied. A grant is not a share sale. The founders do not give up a stake for this cheque.
The Money Is Gone: Copia's Liquidators Have KSh 206.60 Million to Sell
The High Court put Copia Kenya into liquidation on 17 September and named two KPMG partners to sell what is left. Filings put assets that can be sold at KSh 206.60 million, against about KSh 15.87 billion ($123 million) raised. Unsecured creditors should not expect a cheque.
Money Came Back: African Startups Took $582.81 Million in Three Months
Fifty-eight African tech startups raised $582.81 million in the third quarter of 2026, the strongest quarter of the year and 70 per cent above the same period in 2025. The year so far stands at $1.39 billion. It is still well short of 2022.
From a Nakuru Stall: The Family That Built Quickmart Is Selling Half
John and Zipporah Kinuthia opened a Nakuru kiosk in 2006. The chain now runs 72 stores and took KSh 50.4 billion in 2025. Sokoni Retail Kenya is offering 50 per cent of existing shares. Quickmart itself receives none of the cash.
A Two-Tier Plate: Delivery Apps Reshape Nairobi's Restaurant Economics
The surge in delivery-centric dining across Nairobi is forcing restaurants to manage high platform fees and adapt their operating models, while urban consumers absorb higher menu prices for digital convenience.
Strategic Assertiveness: Executive Leaders Advise Women to Move Beyond Agreeability
For decades, women in corporate environments have been encouraged to remain agreeable, but senior leaders are now warning that over-compliance is holding talent back from top roles.
Space-Based Farming: Young Tanzanian Engineer Tracks African Agriculture From Orbit
Tanzanian engineer Musa Mishamo is deploying satellite imagery through his startup Rada360 to monitor cropland, help smallholders manage climate risks, and build a more resilient regional food supply.
Cross-border trade squeeze: Burundians leave Kenya ahead of foreign trader crackdown
Scores of foreign vendors pack up their micro-enterprises and return home to Bujumbura as authorities prepare strict enforcement against informal merchants operating without legal permits.