Story of the Week: North Africa Eyes Its First Unicorn — But the Road Is Still Rocky

Hey, Kaluka here,

North Africa has always been seen as a potential growth frontier, but it’s lagged behind West and Southern Africa in producing unicorns. Last week, Weetracker published a deep dive on which startup might become North Africa’s next unicorn, spotlighting countries like Egypt, Morocco, Algeria, and Tunisia as increasingly fertile ground for founders and investors.

The report argues that while West Africa has led in fintech unicorns, North Africa’s advantages, cultural proximity to Europe, investment spillover, and growing tech adoption, might give it a unique runway. The challenge: more capital, better exit pathways, and regulatory alignment will be essential to convert promise into scale.

For startup ecosystems across Africa, this is a useful reminder, growth is shifting. Founders and investors should keep their eyes not only on the usual hubs (Nairobi, Lagos, Cape Town) but also on the potential of rising spaces in the north. The next big company might come from a place we weren’t watching closely enough.

If you’re a founder building something bold, now’s a good time to raise. If you have a startup you want featured on TechArena, let us know through this contact form here.

Last week, we tracked 8 funding rounds across Africa that raised about $43 million.

🇲🇼 3CITE - Raised $150,000 in pre-seed funding from FasterCapital. 3CITE is building ICT-driven platforms that empower communities in education, agriculture.

🇳🇬 Careers Verified - Also raised $150,000 in pre-seed fundinf from FasterCapital. ****

🇪🇬 Aydi - Raised $7.5 million in a seeed funding round led by Nuwa Capital, Magrabi Agriculture, Foundation Ventures, Daltex and COTU Ventures. Aydi provides a single platform for agricultural companies to source, manage, train, and pay their seasonal workers.

🇲🇱 OKO - Closed a Seed funding round on an undisclosed amount led by Catalyst Fund. OKO uses satellite information to define risk and create insurance products for farmers in emerging markets.

🇿🇦 Pura Soda - Secured $15 million in a venture funding round. ****Pura Soda manufactures, distributes, markets and sells “better for you” beverages.

🇪🇬 Sabika - Raised an undisclosed amount in a seed funding round led by M Empire Angels. Sabika operates as a digital platform, that provides secure experience to buy, sell and manage gold fractions.

🇰🇪 Mawingu Networks - Secured $20 million in a Series C round led by Pembani Remgro Infrastructure Managers. Mawingu uses high-performance low-cost wireless technology and solar power to build fast internet networks in rural areas.

🇳🇬 Lov.Cash - Raised $250,000 in Seed Funding from Lisk EMpower Fund. Lov.Cash is a digital payment platform offering secure and flexible financial services to consumers and small businesses.

We had 10 investors participate in last week’s rounds:

Total disclosed funding: $43,050,000 million across 8 rounds.

Why POZI matters for Central Africa

POZI’s raise is possibly the first foreign VC deal for a Gabonese tech startup, making it a milestone for Central Africa’s often overlooked ecosystem.

Central Africa tends to see fewer deals, lower investor interest, and limited infrastructure. Yet POZI’s success shows that startups there can attract cross-border capital if they build strong use cases, solid traction, and pitch to regional expansion. Expect more eyes on AK (Angola, Congo, Gabon) startups as this narrative unfolds.

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