🚘 Uber Pulls Out of Tanzania

Good Morning Valued Subscribers👋

Uber’s decision to exit Tanzania marks another turning point in the ongoing struggle to make ride-hailing profitable across Africa’s diverse markets. While the company once positioned the country as part of its East African expansion, shifting economic realities, regulatory pressures, and intense local competition appear to have made continued operations unsustainable.

For riders and drivers alike, Uber’s departure raises familiar questions about platform reliability, pricing, and the long-term viability of global tech companies operating in emerging markets. It also highlights a broader pattern: Africa’s mobility sector is no longer just about entering new markets—it is about surviving, adapting, and proving that scale can actually translate into stability.

Let’s dive in👇

Today’s Menu ☕️

🚘 Uber Pulls Out of Tanzania
🚀 SpaceX Acquires xAI in $1.25 Trillion Deal
🪙 Obiex Expands to Ghana and South Africa
💰 EIB Backs Apis Growth Fund III with $80M
💵MTN Ghana Commits $2M to One Million Coders
🤖Google Supports AI Training in African Languages

🚘 RIDE-HAILING SERVICE

Uber Pulls Out of Tanzania

Uber has officially exited Tanzania as of January 30, 2026, after years of regulatory disputes with the Land Transport Regulatory Authority (LATRA). Strict rules on fixed fares, a 15% commission cap, and limits on discounts made Uber’s dynamic, incentive-driven business model economically unviable.

Previous compromises proved temporary, and renewed regulatory uncertainty prompted a permanent exit from major cities including Dar es Salaam and Zanzibar. While local ride-hailing apps may gain market share and drivers retain more per fare, riders face fewer options, and Tanzania risks reduced appeal to global tech investment................….continue reading

 🚀 ACQUISITION

 SpaceX Acquires xAI in $1.25 Trillion Deal

Elon Musk has confirmed that SpaceX has completed the acquisition of his artificial intelligence startup, xAI, in a transaction valuing the combined company at approximately $1.25 trillion, making it the world’s most valuable private firm.

The acquisition, one of the largest mergers ever recorded globally, brings together SpaceX’s rocket, satellite, and launch infrastructure with xAI’s rapidly expanding artificial intelligence capabilities, including its flagship chatbot, Grok. The move cements Musk’s vision of tightly integrating AI, space, and energy into a single, mutually reinforcing ecosystem....….continue reading

🪙 CRYPTOCURRENCY

Obiex Expands to Ghana and South Africa

Nigerian crypto exchange Obiex is expanding into Ghana and South Africa after surpassing $1 billion in swap volume in 2025, with Kenya also on its roadmap. Originally launched as Paylot, the company pivoted to focus on fast crypto-to-fiat conversions, solving trader losses caused by price volatility during blockchain delays. Its “Swap Without Confirmation” feature allows users to lock in rates instantly, driving strong adoption among retail and professional traders.

Fully bootstrapped, Obiex processed $9 billion in gross transaction value in 2025 and now aims to scale across Africa by entering markets with growing crypto adoption and clearer regulatory pathways...….continue reading

💰INVESTMENTS

EIB Backs Apis Growth Fund III with $80M

The European Investment Bank has committed $80 million to Apis Growth Fund III, supporting the fund’s push toward a $1 billion target. Managed by Apis Partners, the fund focuses on high-growth financial services companies across Africa and Asia, spanning payments, credit, insurance, and fintech infrastructure.

The investment aligns with the EIB’s development strategy to promote financial inclusion, modernize payment systems, and help scale local fintechs into regional champions.…..continue reading

💵 FUNDING

MTN Ghana Commits $2M to One Million Coders

MTN Ghana has pledged $2 million to support the government’s One Million Coders Programme, aimed at training one million Ghanaians in coding and digital skills. The initiative, led by the Ministry of Communications, seeks to build digital talent, drive innovation, and boost youth employment.

The contribution aligns with MTN’s broader ESG strategy and complements its wider investments in ICT infrastructure, digital inclusion, and youth-focused programmes across Ghana............….continue reading

🤖ARTIFICIAL INTELLIGENCE

Google Supports AI Training in African Languages

Google has partnered with African universities and research institutions to launch WAXAL, an open speech dataset covering 21 Sub-Saharan African languages, including Yoruba, Hausa, and Igbo. The initiative aims to close Africa’s AI language gap by providing high-quality speech data to train voice-enabled technologies for over 100 million underserved users.

Led by African institutions with funding and technical support from Google, WAXAL strengthens local AI research capacity, promotes data ownership on the continent, and lays a foundation for more inclusive, locally relevant AI systems............….continue reading

OTHER STORIES

• Retail Holding and Amethis acquire OCS Group’s Morocco and Senegal operations………continue reading

• Abler Nordic appoints Marlene Hormes as CEO to lead global impact strategy………continue reading

• ResponsAbility Investments to manage €200m fund………continue reading

• Standard Bank leads $250 million landmark financing for Aradel Energy………continue reading

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