🚀 TechCabal Daily – Optasia Sets Sights on Unicorn Status!

Contrary to the belief that Moniepoint paused after joining Africa’s elite billion-dollar startup club, the Nigerian fintech is accelerating its momentum.

What’s new? Moniepoint has expanded its Series C funding by an additional $90 million. This round was spearheaded by Development Partners International’s African Development Partners III (ADP III) fund, with LeapFrog Investment leading the final closure. Other prominent investors such as Visa, Google’s Africa Fund, Swedfund, and the International Finance Corporation (IFC) also participated.

Background: Moniepoint initially achieved unicorn status after raising $110 million in its Series C round earlier in 2024.

Purpose of the new funds: The company aims to accelerate its expansion across Africa and beyond. Recently, its UK division launched MonieWorld, a remittance platform enabling UK users to send money directly to Nigerian banks via Apple Pay, Google Pay, or British bank cards. Additionally, Moniepoint is pursuing entry into East Africa by planning to acquire Sumac Microfinance Bank in Kenya, tapping into the region’s $67 billion mobile payments market. This fresh capital injection equips Moniepoint to pursue these ambitious goals.

This funding round coincides with Nigeria’s Central Bank enforcing regulations requiring agents to affiliate with only one mobile money operator. While this poses challenges for smaller fintechs due to reduced agent sharing, Moniepoint’s extensive network of over 300,000 agents nationwide could provide a competitive advantage. The new capital may enable the company to develop products that foster agent loyalty as competitors adjust.

As the final quarter unfolds, another African fintech is poised to join the unicorn ranks. South Africa’s Optasia is preparing for a significant public listing on the Johannesburg Stock Exchange (JSE), aiming to raise $345 million and achieve a valuation exceeding billion. The company plans to price shares between $0.89 and $1.09, offering up to 420 million shares.

Who is Optasia? Established on the principle that financial inclusion shouldn’t rely solely on traditional banking, Optasia leverages AI to evaluate creditworthiness using unconventional data sources that conventional banks often overlook. It facilitates microloans averaging $5, distributed through partners such as M-Pesa and MoMo.

Why list on the JSE? The Johannesburg Stock Exchange ranks among the largest and most liquid emerging market exchanges globally, providing access to international investors and proximity to Optasia’s primary market. South Africa’s fintech sector reached $981.32 million in 2024 and is forecasted to surpass $3 billion by 2033, making the JSE a strategic choice.

Optasia intends to issue up to 84 million new ordinary shares to raise approximately $75 million, alongside 281 million secondary shares from private shareholders valued at around $287 million.

Implications: Optasia’s listing signals growing confidence in Africa’s fintech landscape and highlights the JSE’s increasing appeal as a tech hub. Amid recent delistings and investor withdrawals, this move represents a positive shift, showcasing the exchange’s capacity to host billion-dollar digital enterprises rather than lose them.

Under Canal+’s new leadership, MultiChoice is swiftly implementing significant changes. Effective November 1, 2025, prices for DStv decoders will be slashed by as much as 40%, marking the first major price adjustment after years of subscriber losses.

Context: Over the past two years, MultiChoice has lost 2.8 million active subscribers across Africa, with half of those from South Africa. In 2025 alone, the company saw a decline of 1.2 million users, an 8% year-over-year drop, as streaming platforms and economic pressures diverted viewers. This decline is a stark reminder for a company once synonymous with premium African entertainment.

Now fully owned by Canal+, MultiChoice is revising its strategy. By lowering hardware costs-cutting decoder prices by up to 40% in South Africa and approximately 30-40% in Nigeria and Kenya-it aims to make its service accessible to households previously deterred by price.

In South Africa, a decoder previously priced at R499 ($29) could now retail for around R350 ($20). In Nigeria, prices may drop from ₦10,000 ($6.82) to ₦7,000 ($4.78), and in Kenya, from KES1,199 ($9) to about KES840 ($6.50). For budget-conscious families, these reductions could be pivotal.

Industry outlook: With over 560 streaming services competing for African audiences, DStv’s price cuts could ignite a continent-wide pricing battle. This move may help Canal+ regain middle-income subscribers but also introduces risks of slimmer margins and currency fluctuations.

If Canal+ complements these reductions with enhanced content, attractive bundles, and flexible streaming options, DStv could maintain its relevance in Africa’s increasingly fragmented entertainment market.

Guaranty Trust Holding Company (GTCO) is often hailed as one of the most capital-efficient and profitable financial institutions. However, its recent H1 2025 report reveals that only 12% of its workforce earns more than ₦1 million ($682) per month.

Current landscape: GTCO’s streamlined cost structure underpins its capital efficiency. Despite employing just 5,866 staff-fewer than competitors like Zenith or Access Bank-the bank posted ₦449 billion ($306 million) in profit after tax for H1 2025. Although this is a significant decline from ₦905.57 billion ($602.5 million) the previous year, GTCO remains on track to maintain trillion-naira profitability by year-end.

This equates to roughly ₦76.5 million ($52,200) profit per employee. Even after a 40% salary increase in October 2024, personnel expenses totaled only ₦54.4 billion ($37 million), averaging ₦9.3 million ($6,300) per employee. For every ₦1 ($0.00068) spent on staff, GTCO generated ₦8 ($0.0055) in profit.

GTCO’s model: The bank is nearing its targeted minimum capital raise and recently dual-listed on the London Stock Exchange (LSE) in July 2025. It boasts one of the strongest balance sheets among Nigerian banks. However, questions remain about its ability to retain talent as fintech firms and digital-first companies lure experienced bankers with higher pay and flexible work arrangements.

A hidden strength: Entry-level executive trainees earn about ₦460,000 ($314), with the potential to reach managerial roles earning over ₦1 million ($682) within 8-10 years. This relatively swift career progression may help GTCO retain young talent amid the fintech migration.