Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: With $100m Capital Plan, Redtech Targets 29 African Markets in Expansion Plan
Redtech Ltd, the Lagos-headquartered payments company backed by Heirs Holdings, is setting its sights on pan-African expansion, with plans to enter 29 countries by 2027 and pursue mergers and acquisitions as part of its growth strategy.
The fintech, which operates primarily through its payments platform RedPay, recorded a breakout 2025 financial year, processing ₦30 trillion (approximately $20.6 billion) in transactions, more than double the ₦12 trillion ($8.2 billion) reported in 2024.
Redtech’s core offering, RedPay, provides point-of-sale (POS) terminals, merchant collections, payment gateways and digital payment channels. Within its first full year, the company says it onboarded more than 35,000 merchants and deployed tens of thousands of POS devices nationwide.
“We have developed mobile banking solutions in certain French-speaking countries — Burkina Faso, Senegal, Mali, and the Republic of Benin. The next phase will be moving between West and Central Africa, but what will really inform our decision for every move that we make is to ensure that we’ve established regulatory permits in either of those countries or strategic local partnerships,” Chief Executive Officer Emmanuel Ojo said.
Other Tech News Stories You Should Read:
Basatne Launches ORBT Mobile-First Payout Platform to Modernise Reverse Logistics. Read now.
Virgin Mobile Kuwait and Kidzonet Launch Social Media Blocking SIM to Enhance Digital Protection and Internet Safety. Read now.
XSML Capital Raises US$142M for Fourth African Fund, Surpassing Target in Strong Vote of Confidence for SME Financing. Read now.
On Startup Spotlight:
Onafriq and Conduit Partner to Integrate Stablecoin Rails and Streamline Pan-African Payment Flows
Onafriq, one of Africa’s largest digital payments networks, has entered a strategic partnership with global stablecoin payments platform Conduit in a move aimed at accelerating stablecoin-powered treasury management and cross-border settlement across the continent.
The agreement was announced at the opening Welcome Reception of the Africa Tech Summit in Nairobi, where executives from both companies unveiled the collaboration at the Zen Garden venue.
Framed as a milestone for stablecoin adoption in African fintech, the partnership underscores how digital dollar infrastructure is moving rapidly from crypto-native use cases into mainstream enterprise payments.
“Conduit’s infrastructure will help us move toward streamlining our global treasury management through stablecoins and drive faster payouts for our customers,” said Luke Khohere, Onafriq’s Group Chief Product and Innovation Officer.
“Onafriq is a global poster child for the impact a fintech can have in a developing market,” Kirill Gertman, founder and CEO of Conduit. “Their impact is clear, and it can only be amplified by the power and potential of stablecoins.”
Quadri Adejumo brings you all the details. Read here.
Also Read:
Mubadala Capital, TWG Global Strike $6.2b Deal to Acquire Clear Channel Outdoor, Take Billboard Giant Private by 2026. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
