Mergers and acquisitions took the centre stage in Africa’s tech ecosystem in 2025, with up to 29 deals recorded in the first half of 2025, a 45% jump from the previous year. Rather than focusing on organic growth, companies are opting for M&As to scale, secure critical regulatory licences, and expand immediately into new regions.
Briter’s 2025 Venture Pulse report shows that the number of venture deals has continued to decline since the 2022 peak of over 600 deals, with Africa recording 489 deals in 2025. However, the total funding volume in 2025 grew by 44% year-on-year, reaching $3.24 billion. This imbalance of fewer deals but more capital has pushed companies towards consolidation to achieve scale.
According to TechCabal Insights data, Africa recorded up to 66 acquisitions in 2025, a 69% increase from the 39 recorded in the previous year. Here are the major deals reported.
1. Stitch acquires ExiPay (South Africa)
Stitch, a South African fintech startup that provides online payment infrastructure for large enterprises, kicked off the year by acquiring ExiPay, a startup that offers in-person payment solutions for retail businesses, for an undisclosed amount. The acquisition enabled Stitch to expand its API-first product by integrating online and in-person payments into a single platform.
2. Moove acquires Kovi (Nigeria)
In January, Moove, the Uber-backed Nigerian mobility fintech startup, acquired Kovi, a Brazilian car rental marketplace, in an all-stock deal that makes Kovi’s investors shareholders in Moove. This move was a market expansion that gave Moove an immediate foothold in Latin America and added thousands of vehicles to its global fleet.
3. LemFi acquires Bureau Buttercrane (Nigeria)
Nigerian-founded cross-border payments company LemFi acquired Irish currency exchange platform Bureau Buttercrane in January. The deal, approved by the Central Bank of Ireland, granted LemFi an Irish licence, allowing it to deepen its financial services infrastructure and operate across the entire European Economic Area (EEA).
4. Raseedi acquires Kashat (Egypt)
In Egypt, the fintech space saw its first significant consolidation of the year in January when fintech startup Raseedi acquired its counterpart, Kashat. This deal allowed Raseedi to broaden its product offerings and introduce instant loans.
5. Dsquares acquires Prepit (Egypt)
In February, Egypt’s deeptech startup Prepit was acquired by Dsquares, a B2B software-as-a-service (SaaS) loyalty platform based in the same country. Through this deal, Dsquares, which bought a majority stake in the business for an undisclosed amount, will build on its proven expertise in the loyalty sector across the Middle East, including key markets such as Saudi Arabia, Egypt, and the UAE.
6. Dubizzle Group acquires Hatla2ee (Egypt)
Dubizzle Group (formerly EMPG), the UAE-based online classifieds platform, acquired Hatla2ee, a prominent Egyptian automotive marketplace, for an undisclosed amount. The deal saw Dubizzle Group integrate its advanced technology and resources into Hatla2ee’s already trusted platform, further solidifying Dubizzle’s dominance in the MENA region’s online classifieds space and capturing a key vertical in the massive Egyptian market.
7. Motorola Solutions acquires RapidDeploy (South Africa)
In February, US-based Motorola Solutions acquired South Africa’s RapidDeploy, a telecommunications and software company whose advanced Next Generation 911 (NG911) product suite accelerates emergency response and enhances decision-making. The acquisition brings RapidDeploy’s cloud-based public safety and dispatch solutions into Motorola’s global portfolio, increasing situational awareness during emergency response.
8. Basata increases stake in MadfoatCom (Egypt)
In March, Egyptian fintech Basata acquired an additional 25% stake in MadfoatCom, a startup that offers a real-time bill payment system. This partial acquisition tightens the relationship between the two payment companies, strengthens MadfoatCom’s payment infrastructure, and expands Basata’s role in accelerating digital financial inclusion across the region.
9. Grinta acquires Citi Clinic (Egypt)
Grinta, an Egyptian B2B marketplace for pharmacies, acquired Citi Clinic, an Egyptian primary healthcare service chain, in March. This acquisition gave Grinta access to Citi Clinic’s 150,000 patients and integrated offline and online services to transform the way healthcare is accessed and delivered. This move expanded Grinta’s services beyond simple pharmaceutical distribution and into the primary healthcare and clinic services space. As part of this acquisition, Grinta exited its B2B retail pharmaceutical distribution business in Egypt to focus entirely on the care sector.
10. Silver Box acquires Mobius Motors (Kenya)
Silver Box, a Middle East-based company that invests in tech products and services, acquired Kenya’s Mobius Motors six months after it announced plans to shut down due to unpaid debts, supplier disputes, and a failed rescue plan. The acquisition provided Mobius with the capital and scale needed to restart and expand its manufacturing operations.
11. KCB Group acquires Riverbank Solutions (Kenya)
Kenya’s KCB Group, one of East Africa’s largest traditional banks, acquired a 75% stake in Riverbank Solutions for $15.4 million (KES 2 billion) in March to strengthen its digital operation. KCB absorbed the digital-first fintech to accelerate its own tech roadmap and expand its footprint amid growing competition in Kenya’s banking sector.
12. PayTabs Group acquires PayTabs (Egypt)
As part of an internal restructuring and consolidation, the PayTabs Group, a payment infrastructure company, acquired a 51% stake in its Egyptian subsidiary, PayTabs Egypt, from its former shareholder, EFG Finance, an EFG Holding company. This deal solidifies the parent company’s control and streamlines its operations across the MENA region.
13. Peach Payments acquires PayDunya (South Africa)
In April, Peach Payments, a South African digital payments gateway, acquired PayDunya, a Senegalese payment gateway. The acquisition gave Peach Payments immediate access to the entire Francophone West Africa, to simplify digitalisation of sales, payments, and day-to-day operations for African businesses through a single API that allows them to receive and send payments.
14. Refiber & OPI acquires Fibertime (South Africa)
In South Africa’s telecommunications sector, a proposed transaction was announced in April for a consortium of Refiber & OPI to acquire Fibertime’s township fibre assets and enhance internet access across South Africa’s underserved communities.
15. Maseera acquires ADVA (Egypt)
Maseera, a portfolio company of 2PointZero, a transformational global investment platform and a subsidiary of International Holding Company (IHC), acquired an Egyptian consumer finance platform, ADVA, in April to create faster, more inclusive, and highly personalised lending solutions for underserved populations across Egypt. This deal strengthens Maseera’s position in the digital credit market, merging two platforms to achieve greater scale and market share.
16. Twiga Foods acquires Raisons, Sojpar, and Jumra (Kenya)
In May, Twiga Foods, a Kenyan B2B e-commerce company, acquired controlling shares in three local FMCG distributors: Jumra, Sojpar, and Raisons to cut costs and improve profits. This move was part of a major shift to a more asset-light model, where Twiga is now leveraging the infrastructure and operations of established players rather than building everything from scratch. Twiga planned to introduce its software stack, including warehouse management systems, route optimisation, and data tools, but will not take over day-to-day logistics.
17. Access Bank acquires NBK (Nigeria)
In April, the Central Bank of Kenya (CBK) and the National Treasury approved Access Bank’s acquisition of the struggling National Bank of Kenya. The merger expands Access Bank’s footprint in East Africa’s largest economy. Access Bank is expected to inject more capital into NBK to shore up its books with this new deal.
18. HearX Merges with Eargo (South Africa)
In a deal announced in April, S-based Eargo and South African healthtech pioneer hearX merged to form a new entity, LXE Hearing. The merger was backed by a massive $100 million investment, creating a global powerhouse in the healthtech space. The merger was expected to streamline customer experiences, integrate product lines, and improve operational efficiencies to drive growth across new and existing markets.
19. C-One Acquires Bankly (Nigeria)
In April, Bankly, a Nigerian fintech company and licensed microfinance bank, was acquired by investment firm C-One. This acquisition gave C-One Ventures access to Bankly’s licences, proprietary technology, partner ecosystem, and staff.
20. Catalyst Partners Middle East acquires Qardy (Egypt)
Catalyst Partners Middle East completed Egypt’s first-ever special purpose acquisition company (SPAC) merger with the acquisition of Egyptian lending startup Qardy in May. The deal provides an exit for Qardy and integrates its lending and financial services into Catalyst Partners’ broader portfolio in the MENA region.
21. MaxAB-Wasoko acquires Fatura (Egypt-Kenya)
The already-merged B2B e-commerce and supply chain superapp facilitators, MaxAB-Wasoko, acquired the Egypt-based B2B e-marketplace, Fatura, in May. Fatura was to be fully integrated into the platform and unified under the company’s brand to drive meaningful business growth, eliminate a key competitor, and solidify the company’s position as the undisputed leader in Egypt’s massive B2B retail market.
22. First Ally Capital acquires Migo (Nigeria)
In June, Nigeria’s First Ally Capital, an investment firm, acquired a 60% equity stake in the Nigerian operations of digital credit platform, Migo. This move gives the investment firm a strong position in the digital lending space, backing Migo’s platform for scale.
23. Moniepoint acquires Sumac Microfinance Bank (Nigeria)
Nigerian fintech Moniepoint acquired a 78% stake in Sumac Microfinance Bank, paving the way for its entry into the country’s tightly regulated banking sector. This deal came after Moniepoint’s earlier attempt to buy payments firm KopoKopo fell through. This deal gave Moniepoint a banking licence, allowing the company to bypass Kenya’s regulatory landscape and launch its services in the country.
24. dLocal acquires AZA Finance (Kenya)
Cross-border payments fintech dLocal acquired AZA Finance, a pan-African payments and forex company, in June. Both companies were already partners; now dLocal will acquire AZA Finance in a deal believed to be worth around $150 million. This acquisition was intended to strengthen dLocal’s treasury operations, enabling Over-the-Counter FX capabilities, extended stablecoin coverage, and improved payout efficiency.
27. AXIAN Telecom acquires minority stake in Jumia (Nigeria)
AXIAN Telecom, a pan-African telecommunications provider, acquired an 8% minority stake in e-commerce giant Jumia in June. This strategic investment came at a time when Jumia was facing mounting financial challenges. This new investment is expected to help Jumia improve performance and solidify its position as a leading player in African e-commerce.
26. Chowdeck acquires Mira (Nigeria)
Nigeria’s YC-backed food delivery service, Chowdeck, made a key integration by acquiring Mira, a company that provides PoS and digital payment solutions to restaurants, in June. The deal adds Mira’s inventory management, payment processing, and inventory financing tools to Chowdeck’s delivery ecosystem. The acquisition allows Chowdeck to control the full stack, from order to payment, thereby deepening its relationship with its restaurant partners.
27. Solar Panda Corporation acquires VITALITE Zambia (Zambia)
Solar Panda Corporation, a Canadian solar energy company that aims to provide clean energy to communities in Africa, acquired Zambian solar provider VITALITE Zambia in June. This deal expands Solar Panda’s reach in Southern Africa, adding over 100,000 customers to its portfolio.
28. ACKWEST Group acquires Safiyo (Ghana)
In June, the ACKWEST Group, the consumer insights and marketing services acquisition holding company, acquired Safiyo, a Ghanaian deeptech company, for an undisclosed sum to extend the group’s reach in emerging markets and enhance its modern data creation capabilities. This acquisition brings Safiyo’s advanced technology and engineering talent into the group’s broader portfolio.
29. BAS Group acquires Zuvy Technologies (Nigeria)
In June, BAS Group, a Nigerian investment company that controls businesses in healthcare, microinsurance, and finance, acquired a stake of more than 50% in Zuvy Technologies, a Lagos-based startup that provides short-term financing to small businesses through invoice discounting. This move offers Zuvy the backing of a larger group to scale its financial products for small businesses and individuals.
30. Lesaka Technologies Inc. acquires Bank Zero (South Africa)
South Africa’s fintech, Lesaka Technologies, acquired the high-profile digital bank Bank Zero for approximately $5.1 million in June. The acquisition was intended to strengthen Lesaka’s ability to deliver end-to-end banking services to individuals, businesses, and merchants, and integrate it into a secure, scalable, and digital-first platform.
31. Pesa acquires Authoripay Emoney (Nigeria)
In June, Pesa, a Nigerian-founded cross-border payments platform, acquired UK-based Authoripay Emoney to obtain key regulatory licences issued by the UK Financial Conduct Authority (FCA), enabling Pesa to operate and innovate across the UK and the wider European Economic Area.
32. Stitch acquires Efficacy Payments (South Africa)
In its second major acquisition of the year, the South Africa-based payments infrastructure company, Stitch, acquired Efficacy Payments, a digital payments startup with direct access to the national clearing system, in July. The deal was even more critical than the first, as it secured a full card-acquiring licence in South Africa, transforming Stitch into a full-stack payments company that no longer needs to rely on bank partners or third-party processors.
33. Roqqu acquires Flitaa (Nigeria)
Nigerian digital asset startup Roqqu executed its East African expansion plan by acquiring Flitaa, a Kenyan-based crypto platform, in July. The move provided Roqqu with an instant user base and, more importantly, a team with the local know-how to navigate Kenya’s evolving regulatory environment for digital assets.
34. Pembani Remgro Infrastructure Fund II acquires Stake in Mawingu Networks (South Africa)
The Pembani Remgro Infrastructure Fund II (PRIF II), a South African private equity vehicle, acquired a 35% stake in Kenya’s Mawingu Networks, an internet service provider, in July. This acquisition comes eight months after Mawingu raised $15 million in debt financing to fund expansion in Kenya. The investment will fuel the expansion of Mawingu’s affordable internet services across rural and underserved areas of Kenya.
35. Admyt acquires SHôPING (South Africa)
In July, South African parking tech company Admyt acquired SHôPING, an in-mall engagement platform previously developed by Attacq, the owner of the Mall of Africa. The deal sees the integration of Admyt’s technology and services into the larger SHôPING platform, consolidating features within the e-commerce landscape.
36. Adapt IT acquires ResRequest (South Africa)
In July, South African software and services company Adapt IT acquired ResRequest, a healthcare technology provider, to strengthen the company’s hospitality software division, Micros South Africa, under which ResRequest will now operate. The move strengthens Adapt IT’s portfolio in the health and hospitality software sectors.
37. Nawy acquires SmartCrowd (Egypt)
Egyptian proptech innovator Nawy expanded into the Gulf Cooperation Council (GCC) market by acquiring SmartCrowd, a UAE-based fractional real estate investment platform, in July. The deal merges Nawy’s brokerage services with SmartCrowd’s innovative investment model. The move follows Nawy’s $52 million Series A fundraise.
38. Globeleq acquires Lunsemfwa Hydro Power Company (Zambia)
Globeleq, an independent power provider, acquired a 51% equity stake in Zambia’s Lunsemfwa Hydro Power Company, a renewable energy company, in July. The deal expands Globeleq’s renewable energy portfolio, taking control of a key hydroelectric asset in Southern Africa.
39. Moniepoint acquires Bancom Europe Ltd (Nigeria)
In its second major acquisition of the year, Moniepoint acquired Bancom Europe Ltd in the United Kingdom in July. This move, similar to its Kenyan acquisition, is a strategic play to secure licences and infrastructure in Europe, enabling it to better serve the Nigeria-Europe remittance and payments corridor.
40. Enko Capital–Oronte Consortium acquires Société Générale Mauritania (Mauritania)
The Enko Capital–Oronte consortium acquired Société Générale Mauritania in August. The deal is part of a broader trend of French banking giant Société Générale divesting its African assets, with pan-African and local funds stepping in to take over. Strategic priorities for this acquisition include modernising the bank’s service offering, investing in digitalisation, strengthening governance frameworks, and deepening the bank’s role in financing key sectors of the Mauritanian economy.
41. Nedbank acquires iKhokha (South Africa)
South Africa’s Nedbank acquired the payments provider iKhokha in an all-cash deal valued at $92.4 million (R1.65 billion) in August. This acquisition gives Nedbank a ticket to developing the technology and customer base of a strong player in the SME sector, while also offering scale and a means to expand beyond its home market for iKhokha.
42. Vodacom acquires Stake in Maziv (South Africa)
In July, Telecom giant Vodacom acquired a 30% stake in South Africa’s Maziv, the fibre infrastructure conglomerate that controls market leaders Vumatel and Dark Fibre Africa, for $752 million. This massive deal gives Vodacom significant access to Maziv’s fibre-optic network, as the cash injection helps to accelerate Maziv’s fibre rollout initiatives.
43. Ajua acquires Rate My Service (RMS) [Kenya]
Ajua, a Kenyan consumer experience startup, merged with Rate My Service (RMS), a firm that builds tools for businesses to measure and improve customer and employee interactions, in August. Although the nature or value of the transaction was not disclosed, the combined entity framed the deal as a strategic move uniting complementary strengths and positioning for growth in East, West, and Southern Africa.
44. ViFi Labs acquires Onramp (Uganda)
In August, Ugandan decentralised stablecoin protocol ViFi Labs acquired Onramp, a stablecoin payments platform, to gain access to growing institutional stablecoin adoption in Africa and Latin America. The acquisition also helps ViFi Labs consolidate its position in the Ugandan market, combining product offerings and technical teams.
45. SYSPRO acquires DATASCOPE (South Africa)
South African software company SYSPRO acquired DATASCOPE, a U.S.-based Warehouse Management System (WMS) provider, in August. This international acquisition integrates DATASCOPE’s specialised software solutions into SYSPRO’s portfolio. With DATASCOPE’s inclusion, SYSPRO gains advanced tools to help manufacturers and distributors boost operational efficiency.
46. Cell C acquires Comm Equipment Company (CEC) [South Africa]
South African mobile operator Cell C acquired Comm Equipment Company (CEC), a financial services firm, in August. This move is part of Cell C’s diversification strategy, which is moving beyond traditional telecom services into the lucrative financial services and device financing sectors. CEC was owned by The Prepaid Company, a subsidiary of Blue Label Group, which also happens to be Cell C’s major shareholder.
47. Africar Group (AUTO24.africa) acquires Koto.ci (Ivory Coast)
Africar Group, operator of the used car marketplace AUTO24.africa, acquired Koto.ci, an Ivorian platform that provides reference pricing for new vehicles, in August. This acquisition strengthens AUTO24’s presence in West Africa, adding logistics and e-commerce capabilities to its core automotive marketplace. Africar Group wants to engage with consumers earlier in the vehicle ownership journey through this acquisition.
48. Ora Technologies acquires Cathedis (Morocco)
Moroccan super app facilitator, Ora Technologies, acquired Cathedis, a Casablanca-based last-mile delivery platform, in September for an undisclosed amount. This deal comes months after Cathedis raised a Series A funding round, and enables Ora to take direct control of a critical part of the logistics chain. It is also intended to streamline operations and expand market reach.
49. Two Fold Capital acquires TaxTim (South Africa)
In September, the Google-backed South African fintech TaxTim, which simplifies tax returns, was acquired by a consortium led by Two Fold Capital, an investment firm. This acquisition provides an exit for early investors and gives TaxTim the backing of a larger financial group to scale its services.
50. Leadway Holdings Limited acquires Pensions Alliance Limited (PAL) (Nigeria)
Nigeria’s Leadway Holdings Limited acquired 100% equity interest in Pensions Alliance Limited (PAL), a Nigerian pension fund administrator (PFA), in September. This deal significantly expands Leadway’s presence in the highly regulated and lucrative pension management industry.
51. Duaya acquires EXMGO (Egypt)
Egyptian healthcare company Duaya acquired EXMGO, a software provider for pharmacies and medical businesses, in a six-figure investment deal in September. Through this acquisition, Duaya will be able to manage online sales and inventory, payment processing, and direct customer communication, and has henceforth rebranded the service as Duaya Go.
52. Street Wallet acquires Digitip (South Africa)
South African fintech Street Wallet acquired Digitip, a digital tipping platform, in September. This acquisition enhances Street Wallet’s product suite by adding a micro-payments feature for the gig economy and hospitality sectors and strengthens its footprint in the region.
53. Rekindle Learning acquires EpiTek (South Africa)
South African Edtech company Rekindle Learning acquired EpiTek, another Edtech startup, in September. This move combines Rekindle’s digital learning platform with EpiTek’s educational technology, creating a more robust offering for corporate and academic clients. The acquisition birthed a new platform called Rekindle EpiTek, which aims to bring formalised training to Africa’s workforce through live classrooms and AI-invigilated assessments, among others.
54. Wakanow acquires Nairabox (Nigeria)
Nigerian online travel group Wakanow acquired Nairabox, a digital platform for entertainment and event ticketing, in October. The acquisition transforms Wakanow’s model from facilitating travel bookings to becoming a central player in the broader experience in the sector. The deal aims to create an integrated app that combines travel with event ticketing and payments to capture a larger share of consumers’ wallets.
55. Global Shop Group acquires Anka (Afrikrea) (Ivory Coast)
Anka, the well-known Ivorian e-commerce marketplace for Made in Africa goods, was acquired by New York’s Global Shop Group in October for an undisclosed amount. ANKA’s infrastructure will likely serve as the operational backbone for Global Shop’s ambition to give African vendors more customers. The deal merges Anka’s strong B2C brand and SaaS tools for creators with a larger, established B2B commerce group, providing a wider operating net for vendors previously listed on ANKA.
56. Logidoo acquires Kamtar (Morocco)
In October, Moroccan logistics-tech company Logidoo acquired Kamtar, an Ivorian road freight platform, to deepen its operational capabilities along the strategic logistics corridor connecting North and West Africa. Logidoo aims to develop a hybrid logistics model that integrates a digital platform with physical infrastructure. With this acquisition, Logidoo will create a network to make intra-African trade more seamless.
57. KCB Group acquires minority stake in Pesapal (Kenya)
Kenya’s KCB Group, one of East Africa’s banking giants, made its second major fintech play of the year by acquiring a minority stake in Pesapal, one of the largest digital payment gateways in East Africa, in November. This deal positions KCB to control a full-stack financial ecosystem and move from its traditional operation model. Its two acquisitions of the year show that KCB Group is reducing reliance on third-party vendors for critical components of the digital payment value chain.
58. AXIAN Telecom acquires Wananchi Group (Zuku) [Kenya]
AXIAN Telecom, one of Madagascar’s biggest telcos, acquired Wananchi Group, the parent company of Kenya’s Zuku internet brand and Tanzania’s Simbanet, for $63 million in November. This deal significantly expands AXIAN’s footprint in East Africa’s home internet and pay-TV markets. It gave AXIAN a 99.63% stake in Wananchi Group (Holdings) Ltd and marks the company’s biggest step into Kenya, Tanzania, and Uganda
59. Rank (Moni) acquires AjoMoney and Zazzau Microfinance Bank (Nigeria)
In November, YC-backed Nigerian fintech Moni, which offers community banking services, rebranded to Rank and simultaneously announced the acquisition of AjoMoney, a platform for traditional group savings, and Zazzau Microfinance Bank. The double acquisition will allow Rank to offer a range of regulated financial services beyond savings, including payments and investment products. This move instantly transforms the company into a licensed community bank that links traditional finance with modern tech.
60. Flutterwave acquires Moni (Nigeria)
In late 2025, Flutterwave, Africa’s most valuable fintech, acquired Mono, a Nigerian open banking startup, in a deal said to be valued between $25 million and $40 million. Through this acquisition, Flutterwave will now be able to offer bank account verification, onboarding, and identity checks, and one-time or recurring bank payments within a single stack. The deal was announced on January 5, 2026.
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I am the CEO of 9JAGISTLAND.My name is Adedeji Timothy and my co-owner is Oyekola Damilare.This blog is born out of our passion to educating to people in all aspect of internet life.We are enthusiastic about writing posts and articles online.
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