Retail giant Shoprite leaves Ghana and Malawi according to our Daily report
In the world of technology and finance, there's been a flurry of significant developments across Africa. Let's delve into some of the key stories that have caught our attention.
MEST Africa Opens Applications for 2026 AI Startup Programme
West African software developers aged 21-30 now have the opportunity to join MEST Africa's 2026 AI Startup Programme. The programme offers training and incubation to budding entrepreneurs, with applications closing on August 22, 2025.
Shoprite Exits Ghana and Malawi
South Africa's largest supermarket chain, Shoprite, has officially classified its operations in Ghana and Malawi as discontinued. The company is in the process of selling its assets in both countries as part of a strategic exit from these markets. In Ghana, a binding offer was received in June 2025 to sell seven trading stores and one warehouse, and the sale is considered highly probable. In Malawi, Shoprite signed an agreement on June 6, 2025, to sell five trading stores, subject to regulatory approvals.
Tanzania's Digital Payments Network TIPS Thrives
Tanzania's real-time digital payments network, TIPS, has seen remarkable growth. By December 2024, TIPS processed TSh29.9 trillion ($11.6 billion) in transactions, nearly doubling the number of transactions. This growth was driven by an increase in participating institutions from 36 to 46.
JSE Considers Always-Open Trading
South Africa's Johannesburg Stock Exchange (JSE) is considering making its market always open for trading. If the JSE proceeds, it would be the first traditional exchange to go fully sleepless, with potential implications for investor flexibility, liquidity, volatility, and spreads.
Tanzania Upgrades Financial Services Registry
In an effort to identify access gaps in its financial services sector, Tanzania has upgraded its Financial Services Registry (FSR) with geospatial mapping tools.
Kenyan Banking Veteran Leon Kiptum Passes Away
Leon Kiptum, a former executive at Flutterwave, passed away on August 3, 2022, after a long battle with cancer. Before Flutterwave, Kiptum spent over a decade in Kenyan banking, working at Barclays (Absa), KCB, Family Bank, and Sidian. Tributes have poured in for Kiptum from the fintech community, remembering him for his quiet strength, generosity, and commitment to others.
Kiptum's New Journey at Rigour Africa
Following his tenure at Flutterwave, Leon Kiptum recently began a new journey at Rigour Africa, focused on guiding startups to grow with purpose.
Tanzania Builds Digital Rails
Tanzania is building digital rails with a focus on interoperability and central oversight, differing from Kenya's market-driven model.
Shoprite Refocuses on South Africa
With persistent economic challenges such as currency volatility, high inflation, import duties, and leases denominated in US dollars making African markets unprofitable, Shoprite is focusing squarely on its home base, South Africa. The company is expanding store count, scaling delivery with Sixty60, and growing in pet, health, and outdoor retail.
Shoprite Exit Draws Mixed Reactions in Ghana
The exit of Shoprite from Ghana has drawn mixed reactions. While some view it as an opportunity to bolster local industries, others express concern over potential job losses and impacts on consumer prices and supply chains.
Tanzania Bets on Digital Public Infrastructure for Inclusive Growth
The Tanzanian government is betting on digital public infrastructure as a catalyst for inclusive growth. Should the Competition and Fair Trading Commission approve the sale, Karson Investment Trust, a financial portfolio management firm, will run the five Shoprite stores in Malawi as part of "Shopwise Trading Limited," selling groceries and other merchandise at retail prices.
- In the AI Startup Programme by MEST Africa, budding entrepreneurs will receive training and incubation as they venture into the fintech sector.
- The withdrawal of Shoprite from Ghana and Malawa has been met with mixed reactions, sparking discussions about local industries and potential job losses.
- TIPS, Tanzania's digital payments network, has experienced significant growth, processing nearly double the number of transactions in less than a year.
- The Johannesburg Stock Exchange (JSE) is contemplating the shift to always-open trading, which could have potential implications for investor flexibility, liquidity, volatility, and spreads.
- Tanzania has enhanced its Financial Services Registry with geospatial mapping tools to better understand access gaps within the financial services industry.
- Leon Kiptum, a respected figure in fintech and payments, recently began guiding startups to grow with purpose at Rigour Africa after his tenure at Flutterwave.
- The Tanzanian government aims to foster inclusive growth by investing in digital public infrastructure.
- Shoprite, having faced challenges in African markets, is refocusing its efforts on its home base in South Africa, expanding store count, scaling delivery services, and growing its presence in pet, health, and outdoor retail.
