🇨🇦 Nomba live in Canada

Plus:♻️🔋 Koko Networks Under Administration

Innovation Village
February 05, 2026

In partnership with

‘

Good Morning Valued Subscribers👋

Koko Networks has been placed under administration after shutting down operations in Kenya, marking a sudden end to one of Africa’s most ambitious clean-cooking ventures. For hundreds of employees and more than a million households that relied on its bioethanol fuel, the collapse has disrupted access to an affordable alternative to charcoal and kerosene, exposing the fragility of essential services built on complex financing models.

The development highlights the growing risks facing climate and clean-energy startups that depend heavily on carbon credit revenues amid regulatory uncertainty. While Koko built one of the largest clean-cooking distribution networks on the continent, delays in carbon market approvals and rising operating costs ultimately undermined its model. As policymakers and investors reflect on Koko’s exit, the episode serves as a cautionary signal: scaling climate innovation in Africa requires not just bold ideas, but stable regulation, viable unit economics, and resilient funding structures.

Let’s dive in.👇

Today’s Menu ☕️

💵 Nomba Acquires Canadian Firm to Speed Africa–Canada Payments
♻️🔋Koko Networks Placed Under Administration as Kenya’s Clean Cooking Startup Shuts Down
📡 Starlink Launches Satellite Internet in Senegal
🏦 TymeBank Rebrands to GoTyme Bank
💰South African Fintech Lula Raises R340m ($21m) to Boost SME Access to Fast Loans
🚙 Nigeria Signs Deal With South Korea to Build Africa’s First EV Manufacturing Plant
🏍️ Bosta Launches Middle East’s Largest Automated Sorting Machine
👤 PayPal Hires Enrique Lores as CEO

💵PAYMENTS

Nomba Acquires Canadian Firm to Speed Africa–Canada Payments

African fintech Nomba has acquired a licensed Payment Service Provider and Money Services Business in Canada, giving it regulated infrastructure to support faster, more reliable business-to-business payments between African companies and Canadian partners. Completed in Q2 2025, the acquisition included a $2 million investment to strengthen operations and scale the platform.

Unlike most cross-border platforms that focus on consumer remittances, Nomba targets trade-related payments for exporters, importers, and multinational service providers. Through local Canadian dollar accounts, African businesses can receive payments directly, settle funds in naira or other African currencies, and reduce reliance on correspondent banks, saving 40–60% in transaction and FX costs..................…continue reading

200+ AI Side Hustles to Start Right Now

While you were debating if AI would take your job, other people started using it to print money. Seriously.

That's not hyperbole. People are literally using ChatGPT to write Etsy descriptions that convert 3x better. Claude to build entire SaaS products without coding. Midjourney to create designs clients pay thousands for.

The Hustle found 200+ ways regular humans are turning AI into income. Subscribe to The Hustle for the full guide and unlock daily business intel that's actually interesting.

Start making AI money

💰 FUNDING

South African Fintech Lula Raises R340m ($21m) to Boost SME Access to Fast Loans

South African financial technology company Lula has secured R340 million (approximately $21 million) in local-currency funding from FMO, the Dutch entrepreneurial development bank, in a move set to significantly improve access to finance for small and medium-sized businesses across the country.

The new funding will allow Lula to scale its technology-driven lending platform, which provides fast, flexible working capital to micro, small, and medium enterprises (MSMEs) that are often underserved by traditional banks........….continue reading

♻️🔋CLEAN ENERGY

Koko Networks Placed Under Administration as Kenya’s Clean Cooking Startup Shuts Down

Kenya’s clean cooking ambitions have suffered a major setback following the collapse of Koko Networks, one of the country’s most prominent bioethanol distribution startups. The company and its subsidiary, Koko Networks Global Services (Kenya) Limited, have been placed under administration, days after operations across Kenya effectively ground to a halt.

Professional services firm PricewaterhouseCoopers has taken control of the business, with partners Muniu Thoithi and George Weru appointed as joint administrators on February 1, 2026, under Kenya’s Insolvency Act of 2015. From that date, control of Koko’s assets, operations, and strategic decisions shifted away from management to the administrators........….continue reading

📡SATELLITE

Starlink Launches Satellite Internet in Senegal

Starlink, SpaceX’s satellite internet service, has officially launched in Senegal, marking the 26th African country to gain access to its high-speed, low-latency broadband. The service uses low-Earth orbit satellites to provide reliable internet, particularly benefiting rural areas, schools, businesses, and remote communities where fibre and mobile networks are limited.

The rollout offers fast, consistent connectivity suitable for video conferencing, e-learning, digital commerce, and cloud-based services. While subscription costs are higher than some local options, Starlink’s reliability and reach address gaps in Senegal’s digital infrastructure, where internet penetration stands at about 58–60% and fixed broadband remains scarce.......….continue reading

🏦BANKING

TymeBank Rebrands to GoTyme Bank

TymeBank has officially rebranded as GoTyme Bank in South Africa, effective January 2026, unifying its local operations with the broader Tyme Group’s global ventures in Asia. Backed by billionaire Patrice Motsepe’s African Rainbow Capital (ARC), the bank remains fully licensed and regulated, with no changes to customer accounts, balances, or oversight.

The rebranding reflects a strategy of global alignment. GoTyme Bank leverages Tyme Group’s international presence in Singapore, the Philippines, Indonesia, and Vietnam, allowing the South African unit to share technological innovations and operate under a unified brand........….continue reading

🚙 ELECTRIC VEHICLES

Nigeria Signs Deal With South Korea to Build Africa’s First EV Manufacturing Plant

Nigeria has taken a decisive step toward reshaping Africa’s automotive future following the signing of a landmark Memorandum of Understanding (MoU) with South Korea’s Asia Economic Development Committee (AEDC) to establish Africa’s first large-scale electric vehicle (EV) manufacturing plant.

The agreement, signed on January 30, 2026, marks a strategic shift away from Nigeria’s long-standing dependence on imported internal combustion engine vehicles and positions the country as a potential hub for green automotive technology on the continent. If executed as planned, the project could redefine how vehicles are built, powered, and adopted across Africa........….continue reading

🏍️LOGISTICS

Bosta Launches Middle East’s Largest Automated Sorting Machine

Egyptian logistics leader Bosta has unveiled the Middle East’s largest automated sorting machine, a $5 million investment designed to enhance delivery speeds and support Egypt’s booming e-commerce sector. The machine can process 11,000 parcels per hour, handling over 250,000 parcels daily, and is integrated across Bosta’s network of more than 50 hubs nationwide.

Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta has grown from a local startup into a regional full-stack logistics provider, offering end-to-end delivery solutions. The new infrastructure reduces manual bottlenecks, minimizes human error, and scales operations to handle surges during “Mega Sale” events and holidays......….continue reading

Mandela Rhodes Scholarship 2025 (Africa-focused, postgraduate) - Fully funded postgraduate scholarship + leadership programme
Erasmus Mundus Joint Master’s Scholarships (Global) -Joint MSc programmes across Europe with scholarship funding
Call for Applications: English Language Assistants Program in France
Melvin MS Goo Writing Fellowship

👤APPOINTMENTS

PayPal Hires Enrique Lores as CEO

PayPal has named Enrique Lores, former CEO of HP Inc., as its new CEO and President, effective March 2026, replacing Alex Chriss. Jamie Miller will serve as interim CEO until then. The leadership change comes amid slowing revenue, lower-than-expected profits, and a challenging economic environment. The board cited a need for faster execution and innovation.

Lores highlighted AI, technology, and evolving market dynamics as central to PayPal’s future strategy, emphasizing both innovation and financial accountability. The transition reflects a broader theme: in fast-changing industries like digital payments and mental health, success depends on balancing rapid innovation with ethical oversight, trust, and human-centered design.......…continue reading