Author: Kaluka wanjala

Kenya-based fintech HoneyCoin has raised $4.9 million in seed funding led by Flourish Ventures, with backing from Visa and TLcom. The fintech plans top use the funding to expand its stablecoin-powered payment platform across Africa and global markets. If you have a startup you want featured on TechArena, let us know through this contact form here. The saw the participation of Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler. The investment will support HoneyCoin’s expansion plans, product development and recruitment of senior talent. Founded in 2020 by David Nandwa, HoneyCoin is a licensed, profitable fintech…

Verto has rolled out a slick new bill-pay feature integrated into Verto Accounts that automates invoice processing, cuts down manual errors, and supports payments in 49 currencies, making international financial ops a breeze, especially for African businesses juggling cross-border complexity. Verto’s latest launch integrates a bill-pay solution directly into its Verto Accounts platform, aiming to chop away hours of manual invoice headaches, tame multi-currency chaos, and shrink error risks. If you’re doing business across borders, this is one to keep an eye on. Why It Matters Finance teams can now upload invoices and let Verto handle the heavy lifting instead…

Absa Bank Kenya has reported a profit after tax of KSh 11.7 billion for the six months ending June 30, 2025. This is up 9% year-on-year as its return on equity standing at 26.5%. CEO Abdi Mohamed says the growth is due to “disciplined execution, prudent risk management, and relevance of our growth strategy,” noting that the bank is balancing traditional banking services with newer, emerging revenue streams. Key Numbers at a Glance How Absa Is Winning Beyond the Numbers Absa’s asset management arm now oversees over KSh 30 billion. This makes it third in the Kenyan market. Absa also…

Vertiv appointed International Power Control Systems (IPCS) as its official distribution partner in Malawi.  IPCS will distribute Vertiv’s full range of solutions, including single-phase and three-phase AC power systems, surge protection devices, integrated racks and cabinets, and IT infrastructure management tools. Rumbidzai Bere, business development and marketing director at IPCS, said the partnership will enhance IPCS’s portfolio, enabling it to deliver scalable and reliable infrastructure. “The combination of IPCS’s experience in power control and renewable energy and Vertiv’s innovative solutions, such as lithium-ion compatible UPS systems, will bring a new layer of reliability and efficiency to organisations in Malawi,” Bere…

Itana, Africa’s first Digital Special Economic Zone, has announced the launch of its Digital Residency Launchpad, a curated programme designed to connect founders, business owners, and diaspora professionals to strategic opportunities across the continent. Applications are now open. The initiative is targeting Africa-based entrepreneurs and aims to expand across borders, and diaspora professionals seeking to re-engage with the continent through investment and business ventures. Successful applicants will gain access to a private community, regulatory guidance, and operational support tailored for scaling in African markets. “The Digital Residency Launchpad is designed for builders and investors who want more than just a…

Truecaller just crossed 100 million users in the Middle East and Africa bringing safer, smarter mobile experiences to a growing wave of smartphone users across the region. Truecaller, the caller ID and spam-blocking app, has officially surpassed 100 million monthly active users across the Middle East and Africa (MEA). This is a19% growth from the same period last year. Truecaller’s caller ID & Spam Blocking feature makes it easier for users filter out unwanted calls. They can easily identify who is calling before they answer even if the individual is not in their contact list. Its mobile-first design is also…

Zoho today announced the launch of its proprietary large language model, Zia LLM, along with new AI tools such as Zia Agent Studio, over 25 pre-built AI agents, and a Model Context Protocol (MCP) server. The announcements were made during Zoholics Kenya, the company’s annual user conference held in Nairobi. The company also revealed an impressive 39% year-over-year revenue growth in Kenya. What was Announced At the heart of the announcement is Zia LLM, Zoho’s in-house AI model built specifically for business use cases like summarization, data extraction, RAG (retrieval augmented generation), and code generation. The LLM comes in three…

Ghana has issued an ultimatum to MultiChoice, demanding a 30% reduction in DStv subscription prices by August 7, 2025 or face a suspension of its broadcasting licence. This has sparked debate even in Kenya where DStv subscribers are also reeling from recent price hikes that kicked in earlier this month.  Should Kenya consider following Ghana’s lead? The directive was announced by Communications Minister Samuel Nartey George. It comes amid growing concerns about pay-TV affordability. George accused MultiChoice of hiding behind exchange rate losses, arguing that the Ghanaian cedi has stabilized and no longer justifies high pricing. “My fidelity lies with…

Safaricom has announced a KES 3 million sponsorship for the 8th edition of the National Science and Technology Exhibition hosted by Young Scientists Kenya (YSK). The week-long event is currently underway at Moi Educational Centre in South C, Nairobi, running from August 5 to 9. This latest funding, channeled through Safaricom Hook, the company’s youth engagement platform. This brings Safaricom’s total investment in YSK to KES 65 million since 2018. “We believe that Kenya’s future lies in the hands of its young people,” said Fawzia Ali-Kimanthi, Chief Consumer Business Officer at Safaricom. “By supporting platforms like Young Scientists Kenya, we…

Visa has announced the opening of applications for the fifth cohort of its Africa Fintech Accelerator. This program is designed to fast-track the growth of innovative startups across the continent. Applications are open until August 15, with selected startups set to join a 12-week intensive virtual program that includes mentorship, product development support, networking, and funding opportunities. Visa also unveiled 22 startups joining the fourth cohort of the accelerator. These represent 12 countries and diverse fintech innovations ranging from AI-powered payments and digital wallets to climate insurance and DeFi infrastructure. The Visa Africa Fintech Accelerator was launched in 2023 and…