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🏦 Lesaka Technologies acquires Bank Zero for $61.4m

🏦 Lesaka Technologies acquires Bank Zero for $61.4m

Plus: 🩺 💰 Better Auth raises $5m

Innovation Village
June 30, 2025

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Today’s Menu ☕️

🏦 Lesaka Technologies acquires Bank Zero for $61.4m
💰 Better Auth raises $5M to scale open-source authentication, backed by Peak XV and YC
🔋Octopus Energy Launches $250M Africa-Focused Clean Energy Fund to Accelerate Green Transition
🏢 Moniepoint, Flutterwave listed in TIME100 Most Influential Companies for 2025
🏦 Maroc Telecom Secures $330M for 5G Expansion

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🏦 ACQUISITION

Lesaka Technologies acquires Bank Zero for $61.4m

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Lesaka Technologies saw its share price jump by 17.1% on Friday morning after announcing a landmark agreement to acquire 100% of South African digital bank, Bank Zero Mutual Bank, in a deal valued at R1.091 billion. The R1.1 billion ($61.4 million) acquisition—pending regulatory approval—signals a pivotal evolution for Lesaka, transitioning the company from a fintech services provider to a fully licensed digital banking institution.

The acquisition will be financed through a mix of newly issued Lesaka shares and up to R91 million in cash. Upon completion, Bank Zero’s shareholders—including its chairman Michael Jordaan and CEO Yatin Narsai—will collectively own approximately 12% of Lesaka’s outstanding shares. Based on Lesaka’s share price of R88.26 at the time of the announcement, this equity stake is valued at around R1 billion. However, shares were trading at R81.99 on Friday morning...…...…continue reading

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💰 INVESTMENTS

Better Auth raises $5M to scale open-source authentication, backed by Peak XV and YC

Ethiopian solo founder Bereket Engida has secured $5 million in seed funding for Better Auth, an open-source authentication tool aimed at simplifying developer authentication. The round was led by Peak XV Partners, with support from Y Combinator, P1 Ventures, and Chapter One.

A graduate of Y Combinator’s Spring 2025 batch, Better Auth has gained traction with over 150,000 weekly downloads and 15,000+ GitHub stars since its 2024 debut. The funding will support its open-source foundation, improved developer documentation, and the launch of a paid enterprise infrastructure layer.

Investors were drawn to its flexibility compared to rigid incumbents like Auth0 and Firebase. Built entirely by Engida using TypeScript, Better Auth enables full control over user data and role-based permissions. Its success not only highlights Africa’s growing deep tech capabilities but also redefines expectations for solo founders from emerging markets. With bases in Ethiopia and the U.S., the startup is positioning as a global infrastructure player....……continue reading

🔋CLEAN ENERGY

Octopus Energy Launches $250M Africa-Focused Clean Energy Fund to Accelerate Green Transition

Octopus Energy Generation, the renewables investment arm of UK-based Octopus Energy, has launched the Octopus Energy Power Africa Fund (OEPA) with an initial $60 million commitment, aiming to raise $250 million. The fund will support clean energy infrastructure projects across Africa, including rooftop solar, battery storage, EV charging networks, and grid modernization.

In partnership with South Africa-based Pembani Remgro Infrastructure Managers, the initiative seeks to blend global capital with local expertise to accelerate sustainable development in sub-Saharan Africa. The fund is positioned as a strategic opportunity for investors to tap into Africa’s rising energy demand while driving inclusive, low-carbon growth.

Leaders from both organizations emphasized the continent’s renewable potential and the need for scalable, impactful investment. With a robust pipeline and regional insight, OEPA aims to transform Africa’s energy landscape—delivering environmental, social, and economic benefits at a crucial time in the global climate and development agenda.....……continue reading

🏢 BUSINESS

Moniepoint, Flutterwave listed in TIME100 Most Influential Companies for 2025

Nigerian fintech giants Moniepoint and Flutterwave have been named in the 2025 TIME100 Most Influential Companies list, marking a major milestone for African tech. Moniepoint, recognized as a “Leader,” empowers over 10 million informal businesses with digital payments, credit, and insurance tools, processing over 1 billion transactions monthly.

CEO Tosin Eniolorunda called the honour a “powerful validation” of their mission to drive real impact and financial inclusion. Flutterwave, labeled a “Titan,” operates in 36 countries and has processed $31 billion in payments, offering scalable infrastructure that enables African businesses to transact globally. TIME praised both companies for reshaping finance through innovation, scale, and strong leadership.

Their inclusion affirms Africa’s potential as a hub for world-class tech solutions and signals growing investor confidence. It also inspires a new wave of founders to build global products from the continent. These recognitions cement Africa’s fintech as a serious force in global financial innovation....……continue reading

📱 TELECOMS

Maroc Telecom Secures $330M for 5G Expansion

Maroc Telecom has raised $330 million through its first private domestic bond issuance to expand 5G and fiber-optic infrastructure across Morocco and its African markets. The bond, with a two-year maturity and 2.37% fixed rate, will help refinance debt and fund next-generation digital investments, including data centers and broadband rollout.

Despite a 5.9% profit drop in Q1 2025, largely due to a 3.7% decline in domestic revenue, the company’s African subsidiaries—operating under the Moov Africa brand—reported a 4.1% revenue rise, now contributing 40% of total earnings. Its customer base grew 3.6%, reaching 80 million, driven by strong mobile adoption in Africa. Backed by majority stakeholder Etisalat UAE and the Moroccan government, Maroc Telecom is positioning itself as a regional digital leader.

The company aims to bridge the digital divide and support national development goals by expanding access to high-speed internet, cloud computing, AI, and IoT infrastructure across underserved areas...……continue reading