African startups are increasingly turning to debt as a mainstream funding option, marking a shift in how the continent’s tech ecosystem finances growth. In 2025, startups raised a record $1.64 billion in debt, pushing debt’s share of total venture funding to 40% for the first time, according to Partech Africa. This rise reflects a maturing market, where more companies can demonstrate predictable revenues and steady cash flow. While equity funding is slowly recovering after a sharp post-pandemic correction, debt offers founders a way to fund operations without heavy dilution. Development finance institutions remain key lenders, but commercial banks are also stepping…
Author: Montage Africa
Madagascar has moved to reboot its mining sector by lifting a freeze on issuing mining permits that has been in place since 2010. The long freeze, initially imposed during a political transition to curb speculation, had left over 1,650 applications in limbo. The government’s decision to resume issuing permits signals a fresh attempt to bring order and confidence to a sector long hampered by inactivity and speculation. This reopening follows the adoption of a new mining code in 2023, designed to tighten oversight, reduce dormant permits, and accelerate exploration. While officials have not set a timeline for clearing the backlog, the shift…
Nigeria is reshaping its oil licensing strategy to lure fresh investment and revive production after years of decline. Notably, the country’s regulator has slashed the mandatory “signature bonus” fee to between $3 and $7 million, a sharp reduction from the $10 million it charged in 2024 and the approximately $200 million that was required several years ago. Officials say the shift prioritizes technical expertise, financial strength, and credible development plans over high upfront fees. The process will also be fully digital and independently monitored to boost transparency and investor confidence. With majors like Chevron and TotalEnergies showing interest, Abuja hopes the reforms…
Côte d’Ivoire, the world’s top cocoa producer, has rolled out an emergency cocoa buyback scheme as falling global prices and port bottlenecks threaten the country’s cocoa farmers. With beans piling up in cooperatives and exporters pulling back, the government has stepped in to keep the supply chain moving and farmers paid. Officials say shipping delays at Abidjan’s port and liquidity shortages have stalled payments across the market, threatening livelihoods in a sector that millions depend on. Under the plan, the Coffee and Cocoa Council will spend about $510 million to purchase up to 100,000 tons of cocoa by the end of March.…
By Rédaction Africanews and Agencies The Lagos State Assembly has stepped in to stop ongoing demolitions in the waterfront community of Makoko after protests last week by residents and rights groups. Peaceful demonstrations at the Assembly turned violent as police fired teargas and attempted arrests. Activists have condemned the police actions and are calling for an independent investigation and the removal of the Police Commissioner. Lawmakers have ordered a pause to give time to review the process and clear up confusion over how far buildings should be set back from the water. Residents say demolitions went well beyond the approved…
By Rédaction Africanews with AFP The Red Cross said at least 162 people have been killed by gunmen in Nigeria’s western Kwara state, one of the deadliest attacks in the country in recent months. “Reports said that the death toll now stands at 162, as the search for more bodies continues,” said Babaomo Ayodeji, Kwara state secretary of the Red Cross, updating an earlier toll of 67. The strike late Tuesday came after the military recently carried out operations in the area against what it called “terrorist elements”. Police have confirmed the attack without providing any casualty figures. As the…
Libyan prosecutors say they are investigating the killing of Saif al-Islam Gaddafi, son of the country’s long-time leader Col Muammar Gaddafi. The 53-year-old, who was once widely seen as his father’s heir apparent, was killed during a “direct confrontation” with four unknown gunmen who broke into his home in the city of Zintan, his office said in a statement. “The victim died from wounds by gunfire,” Libyan prosecutors said on Wednesday, adding that efforts were under way to identify the gunmen. In a different version of events, his sister told Libyan TV that he had died near the country’s border…
A “notorious” Tanzanian drug-trafficking kingpin has been arrested in Zambia during a raid, the Zambian Drug Enforcement Commission (DEC) has announced. Ahmed Muharram was among several suspects detained in Zambia’s capital, Lusaka, along with large quantities of marijuana and cough syrup containing codeine in several drug busts on Tuesday, the authorities said. “The suspect is a known transnational drug trafficker,” the DEC said, adding that the 40-year-old had long been on the anti-drug agency’s watch-list. The arrest of Muharram, who has not yet commented, was made possible thanks to a series of intelligence-led operations, the agency said. Under Zambian law,…
South Africa’s Democratic Alliance (DA) leader John Steenhuisen has said he will not seek re-election as the party’s leader in April – a move that may threaten the stability of the coalition government. The DA, South Africa’s second largest party, entered into a coalition with its arch rival the African National Congress in 2024 after the ANC lost its parliamentary majority. Steenhuisen took over leadership of the pro-business DA in 2019 and currently serves as agriculture minister in President Cyril Ramaphosa’s government. The 49-year-old was widely expected to run again but was reportedly forced to abandon his bid because of…
By Rédaction Africanews with AP A group of dozens of Somali mothers in Minneapolis are quietly resisting the surge in United States federal immigration officers in the area by brewing traditional tea. Community organiser Nasro Hassen and her neighbours hand out the steaming cups to people on the streets who monitor for Immigration and Customs Enforcement (ICE) activity in subfreezing temperatures. Their ginger-flavoured traditional tea is not just an efficient way to warm up in the cold Minnesota weather. It is also a way to connect with local residents. “Our neighbours have provided invaluable support during the incidents with ICE.…