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💳 PAPSSCARD - Africa’s First Unified Card Scheme Unveiled

💳 PAPSSCARD - Africa’s First Unified Card Scheme Unveiled

Plus:🛒 Axian Eyes Jumia Acquisition

Innovation Village
July 02, 2025

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Today’s Menu ☕️

🔋d.light secures nearly $1 billion in financing to expand solar access across Africa
💳 PAPSSCARD Unveiled: Afreximbank, PAPSS, and Mercury Introduce Africa’s First Unified Card Scheme
🛒 Axian Eyes Acquisition of Jumia in Strategic Pan-African Play
💽 MTN Nigeria Completes Phase One of $235 Million Dabengwa Sifiso Data Centre
🌳Miro secures major investment led by Lagata to expand operations in West Africa
🛒 Pick n Pay exits Nigeria, sells stake in Pikwik to EcoCommerce

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🛒 ECOMMERCE

Axian Eyes Acquisition of Jumia in Strategic Pan-African Play

Mauritius-based Axian Telecom is exploring a potential acquisition of Jumia Technologies AG, Africa’s leading e-commerce platform. Already holding an 8% stake in Jumia, Axian is reportedly in early talks to fully take over the company and potentially delist it from the New York Stock Exchange.

This move aligns with Axian’s strategy to integrate its telecom and fintech services with Jumia’s e-commerce, logistics, and digital payments infrastructure, creating a pan-African digital powerhouse. Backed by a $600 million financing round, Axian is equipped for such a bold move, aiming to deepen digital inclusion across the continent.

Jumia shares rose sharply on news of the interest, reflecting investor optimism. However, the deal is not guaranteed and would face complex integration and market risks. If successful, the acquisition could accelerate Africa’s digital economy by merging mobile connectivity, financial services, and online commerce into a unified ecosystem under Axian’s leadership..…...…continue reading

🔋CLEAN ENERGY

d.light secures nearly $1 billion in financing to expand solar access across Africa

d.light, a Stanford-founded solar energy company, has expanded its securitized receivables financing facility to over $842 million, unlocking $300 million in new capital. With nearly $1 billion in total financing capacity, d.light is accelerating access to off-grid solar energy across Kenya, Uganda, Tanzania, and Nigeria. Its “Brighter Life by d.light” (BLd) facility aims to reach 10 million people in two years via a Pay-As-You-Go (PayGo) model that enables low-income households to access solar energy for as little as $2 per week.

The BLd facility’s multi-currency structure mitigates currency risks, making pricing consistent across regions. d.light’s model has proven viable, with strong loan repayments and early debt repayments achieved in Kenya. Since 2007, d.light has sold 40 million solar products, impacting over 200 million lives. Backed by global investors like Mirova and African Frontier Capital, d.light’s approach is emerging as a blueprint for consumer financing across Africa, extending its impact beyond solar into broader economic empowerment.…...…continue reading

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💳 CARD SCHEME

PAPSSCARD Unveiled: Afreximbank, PAPSS, and Mercury Introduce Africa’s First Unified Card Scheme

The African Export-Import Bank (Afreximbank), Pan-African Payment and Settlement System (PAPSS), and Mercury Payment Services have launched PAPSSCARD, Africa’s first homegrown card scheme, aiming to revolutionize cross-border payments and enhance financial sovereignty. Unveiled in Abuja, PAPSSCARD enables swift, secure, and low-cost transactions across African borders without relying on foreign payment systems, a longstanding barrier to intra-African trade.

Built upon the existing PAPSS infrastructure—which allows real-time settlement in local currencies—the card addresses challenges such as high fees, delays, and limited financial autonomy. Early adopters include the Bank of Kigali, I&M Bank Rwanda, Rswitch, and Unified Payments.

The rollout comes amid growing competition in Africa’s payment space, following Nigeria’s launch of its AfriGO card. PAPSSCARD is expected to increase choice, reduce transaction costs, and foster economic integration under the African Continental Free Trade Area (AfCFTA).

More than just a card, PAPSSCARD represents Africa’s drive toward financial independence and regional trade empowerment......……continue reading

🌳 AGRICULTURE

Miro secures major investment led by Lagata to expand operations in West Africa

Miro, a vertically integrated forestry and plywood manufacturing company with operations in Sierra Leone and Ghana, has successfully closed a new funding round aimed at accelerating its growth and global ambitions. The round is led by Lagata, a specialist forestry investor with a strong focus on sub-Saharan Africa, which is contributing the largest share of the capital.

The funding round also saw increased commitments from Miro’s existing shareholders, including British International Investment (BII), FMO (the Dutch entrepreneurial development bank), Finnfund (the Finnish development financier), Mirova (a French impact investment firm), and a UK-based family office. These investors have reaffirmed their confidence in Miro’s long-term strategy and its role in promoting sustainable development in the region.

The fresh capital injection will enable Miro to scale its end-to-end operations, from sustainable forestry to plywood production, and strengthen its position as a global leader in environmentally responsible plywood manufacturing. The company aims to expand its market reach while maintaining its commitment to sustainability, job creation, and community development...……continue reading

💽 INFRASTRUCTURE

MTN Nigeria Completes Phase One of $235 Million Dabengwa Sifiso Data Centre

MTN Nigeria has launched Phase One of its $235 million Dabengwa Sifiso Data Centre, signaling a major shift from telecom services to digital infrastructure leadership. The facility, named after former MTN Group CEO Sifiso Dabengwa, currently offers 4.5MW IT load capacity, 780 server racks, and spans three floors. Phase Two will expand capacity to 9MW and aim for Tier IV certification. This move positions MTN as a strong competitor in Nigeria’s data centre market, alongside MainOne, Rack Centre, and others.

Designed to support AI and high-performance computing, the centre offers carrier-neutral connectivity and cloud services priced in naira, addressing capital flight and compliance with local regulations. MTN’s “self-orchestration” MTN Cloud platform targets developers and startups, allowing users to manage cloud resources like AWS or Google Cloud.

With modular scalability, compliance features, and open access, the data centre is a foundational step toward boosting Nigeria’s digital economy and cloud sovereignty......……continue reading

🛒 RETAIL INDUSTRY

Pick n Pay exits Nigeria, sells stake in Pikwik to EcoCommerce

Pick n Pay, one of South Africa’s largest retail chains, has exited the Nigerian market by selling its 51% stake in local joint venture Pikwik to private equity firm EcoCommerce Nigeria. Though the Pick n Pay brand will continue under a licensing agreement, the company will have no operational or financial role moving forward. With only two stores, its impact was limited, but the exit highlights ongoing struggles for foreign retailers in Nigeria.

Persistent economic challenges, including inflation and reduced consumer spending, have made profitability difficult. Other major players like Shoprite and Spar have also scaled back operations. EcoCommerce inherits a volatile but high-potential market, with Nigeria’s youthful population and urbanization offering future growth prospects. However, success will require strong local strategies and adaptability.

Pick n Pay’s quiet departure underscores the broader challenges international companies face in Nigeria’s retail sector, turning the spotlight on EcoCommerce to prove its staying power.....……continue reading