Good morning.
Across Africa, climate-tech is changing into part of how important sectors are constructed, financed, and run, powering properties and companies the grid by no means reaches, decreasing the working prices of the automobiles that transfer individuals and items, and serving to farmers produce past the wet season.
TechCabal Insights’ State of ClimateTech in Africa 2026 tracks $6.2 billion raised by African climate-tech startups between 2019 and H1 2026, at the same time as deal depend continues to say no, and the enterprise fashions start to work throughout vitality, mobility, agriculture and meals, waste, and carbon. In H1 2026, climate-tech startups overtook fintech in African startup funding for the primary time, signaling rising curiosity within the sector.
Download the report to see the funding patterns, enterprise fashions, and market circumstances shaping the sector’s subsequent part.
Read sensible insights about Francophone Africa’s tech ecosystem—weekly.
Capital Markets
Quickmart’s IPO oversubscribed by 22.7%
At a grocery store, customers fill their baskets. But in Kenya, buyers have been filling theirs with Quickmart shares, the nation’s second-largest grocery store chain. And there weren’t sufficient shares to go round.
What occurred? Quickmart introduced on Friday that its preliminary public providing (IPO) was oversubscribed by 22.7%. Investors utilized for two.45 billion shares price KES 18.41 billion ($142 million), in opposition to the 2 billion shares accessible for KES 15 billion ($116 million). The supply attracted 18,492 functions, marking Kenya’s second IPO of 2026, after Kenya Pipeline Company in January.
Explain like I’m new right here. An IPO makes an organization’s shares accessible to the general public for the primary time. In Quickmart’s case, buyers were buying half of the grocery store chain at KES 7.50 ($0.058) per share, valuing the enterprise at KES 30 billion ($232 million).
Who obtained what? Kenyan and East African retail buyers obtained all of the shares they have been eligible for, whereas overseas buyers weren’t fairly as fortunate. They utilized for almost 3 times their preliminary allocation and obtained roughly half the shares they requested. In October, the International Finance Corporation (IFC), the World Bank’s private-sector funding arm, additionally secured a 6.45% stake.
Here’s the attention-grabbing half: Quickmart received’t obtain the KES 15 billion ($116 million) from the IPO. Sokoni Retail Kenya, its majority shareholder, offered the shares, retaining a 50% stake. This means the proceeds go to the vendor, moderately than straight funding Quickmart’s enlargement plans.
Zoom out: Quickmart, which operates 72 shops throughout Kenya, needs to increase to 125 by 2030. Its profitable IPO suggests buyers are keen to again the corporate’s ambition, although it should finance the enlargement individually. The subsequent large second comes on November 12, when Quickmart begins buying and selling on the Nairobi Securities Exchange (NSE).
Investors have proven eagerness to purchase. Soon, we’ll see what they’re keen to pay.
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Cryptocurrency
Nigeria raises the price of issuing stablecoins
Stablecoins are presupposed to make cross-border funds simpler. But for the businesses issuing them, working throughout these borders is changing into extra difficult and costly.
What’s taking place? Nigeria’s Central Bank (CBN) has introduced new rules requiring issuers of foreign-currency stablecoins, together with these behind dollar-pegged tokens similar to USDT and USDC, to take care of at the least ₦15 billion ($11.16 million) in paid-up capital. They should additionally set up regionally included, licenced companies to serve the Nigerian market. Issuers of naira-backed stablecoins face a ₦10 billion ($7.44 million) requirement.
And that’s not all. Foreign-currency stablecoin issuers must maintain a separate operational liquidity buffer of at the least $10 million, doubtlessly extra relying on their Nigerian obligations. That’s along with the capital and reserves required to again their tokens.
Nigeria isn’t alone. In July, Kenya introduced rules requiring stablecoin issuers to take care of KES 300 million ($2.3 million) in paid-up capital and register regionally. The rules additionally require firms to carry at the least 30% of funds obtained for stablecoin issuance in Kenyan financial institution belief accounts, with the rest invested regionally.
Explain like I’m new right here. International firms usually difficulty stablecoins similar to USDT and USDC, however Nigerians and Kenyans use them to entry {dollars}, pay abroad suppliers, and transfer cash throughout borders. Regulators need these firms to satisfy home monetary necessities moderately than relying solely on approvals obtained overseas.
State of play: Here’s the place issues get attention-grabbing. If extra African nations introduce separate capital, reserve, and licencing necessities, stablecoin issuers might face the price of establishing regulated operations in each market they wish to serve.
Large firms like Tether and Circle could also be higher positioned to soak up these prices. Smaller issuers might battle to justify getting into sure markets, doubtlessly leaving customers and cost firms with fewer regulated stablecoin choices.
Between the traces: Thereis an inexpensive case for these rules. Local supervision and accessible reserves can defend clients when an issuer fails or can not honour withdrawals. But there’s a trade-off: Africa might find yourself with a patchwork of nationwide stablecoin markets, every with totally different necessities, although the tokens themselves can transfer throughout borders.
Zoom out: Stablecoins have made transferring digital {dollars} comparatively easy. Making these transfers work legally throughout a number of African markets could show significantly more durable.
Social Media
Kenya needs Meta, TikTok and X to report criminal activity on their platforms
Kenya’s Ministry of Information, Communications, and the Digital Economy has proposed amendments to the Kenya Information and Communications Act that might require digital platforms serving Kenyan customers to register their providers with the Communications Authority of Kenya (CA) and report illegal exercise on their platforms.
Explain like I’m new right here: In February 2026, Parliament rejected a TikTok ban and referred to as as a substitute for stronger regulation, together with age safeguards and higher content material moderation. In May, ICT Cabinet Secretary William Kabogo instructed senators that the federal government had given X (previously Twitter) temporary approval to function on the situation that it establishes a bodily workplace in Kenya inside three months.
There’s extra: A separate Online Safety Bill 2026 goes additional by proposing an obligation of look after regulated on-line providers. This would require platforms to conduct annual danger assessments, together with inspecting how their suggestion algorithms and content material distribution methods might expose customers to hurt.
Companies present in breach might face fines of as much as KES 500 million ($3.9 million) or 10% of their world annual turnover.
Enforcement will be tough: The Online Safety Bill says platforms is not going to be required to scan personal messages. However, questions stay about what counts as illegal exercise, how stories will likely be assessed and the way the regulator will stop the rules from getting used to suppress authentic speech.
Cybersecurity
Côte d’Ivoire opens cybersecurity centre to defend West and Central Africa
US tech firm Cybastion, in partnership with Cisco and the Ivorian authorities, has opened the Cisco Cybersecurity Centre in Abidjan. Inaugurated on November 5, the power is designed to strengthen Côte d’Ivoire’s cyber defence capabilities whereas serving as a regional hub for West and Central Africa.
It homes a Security Operations Centre (SOC), which displays digital methods for suspicious exercise, and a Security Incident Response Team that investigates assaults and coordinates responses.
Explain like I’m new right here: INTERPOL’s 2025 Africa Cyberthreat Assessment discovered that cybercrime accounted for greater than 30% of reported crime in West and East Africa. Online scams, ransomware, enterprise electronic mail compromise, and digital sextortion have been among the many most regularly reported threats. It additionally discovered that 90% of African nations surveyed wanted vital enhancements of their regulation enforcement or prosecution capability.
Why this issues: A centre that may monitor methods and coordinate incident response provides governments and companies one other layer of defence. This might additionally strengthen the safety of presidency providers and significant infrastructure as extra of the nation’s financial system strikes on-line.
Through the Africa DigiEmpower programme, the companions intention to coach 200,000 learners in Côte d’Ivoire in cybersecurity, networking and AI by 2030. That might assist construct a pipeline of expert staff for a sector that wants it.
CRYPTO TRACKER
The World Wide Web3
Source:
|
Coin Name |
Current Value |
Day |
Month |
|---|---|---|---|
| Bitcoin |
$75,625 |
– 5.88% |
– 10.24% |
| Ether |
$2,223 |
– 8.04% |
– 15.05% |
| XRP |
$1.19 |
– 8.20% |
– 18.56% |
| Solana |
$89.30 |
– 6.64% |
– 24.83% |
* Data as of 06.54 AM WAT, November 9, 2026.
JOB OPENINGS
- Sparkle Nigeria — Business Growth Manager — Lagos, Nigeria
- Tech Safari — Content Lead — Nairobi, Kenya, and Abuja, Nigeria (distant, wherever in Africa)
- CredPal — Credit Underwriter — Lagos, Nigeria
- Pesa — Social & Influencer Marketing Manager — Remote (Nigeria)
- Bamboo — Product Manager (Misan) — Hybrid (Lagos, Nigeria)
- Àngeles Sostenibles — Operations Associate — Abuja, Nigeria
- Coinomad — Sales Manager, Business Development Manager — Nigeria
- Sumsub — Senior Anti-Fraud Analyst — Remote (wherever)
- AfriChange — Compliance Specialist — Remote (Nigeria)
- Scouthappy — Growth Lead for Fintech (Stocks) — Remote (Nigeria)
- Daya — Growth Product Manager (Daya Coins) — Remote (Nigeria)
- Qore — Site Reliability Engineering (SRE) Manager — Lagos, Nigeria
- Afreximbank — Student and Postgraduate Internship — Cairo, Egypt
Looking for extra alternatives? There are further openings on TechCabal’s job board. We’ve additionally cleared out outdated listings to maintain alternatives recent for job seekers. If you’re hiring and wish to characteristic an open position, please submit it via this form.
Written by: Yemi Kareem and Emmanuel Nwosu
Edited by: Emmanuel Nwosu & Ganiu Oloruntade
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