The New Faces Of African Innovation

It takes a lot to build a technology company that makes a difference in people's everyday lives.

Across Africa, entrepreneurs are developing ideas to solve problems that have existed for years. From how business owners receive payments to how people travel and access medicines, technology is gradually changing how things are done.

Some of these companies started with simple ideas but have grown to attract investors, expand into new markets and gain attention beyond their home countries.

Among them are three African startups making their mark in different industries: Moniepoint, BasiGo and mPharma. Each has its own story, but they share something in common: finding new ways to tackle everyday challenges.

MONIEPOINT: FROM MAKING BUSINESS EASIER TO ONE PAYMENT AT A TIME

Running a small business in Nigeria involves more than just selling products. Business owners also need reliable ways to receive payments, manage their income and access loans to grow their businesses.

One company working to address these challenges is Moniepoint, a Nigerian financial technology company founded in 2015 by Tosin Eniolorunda and Felix Ike. Originally established as TeamApt, the Lagos-based company provides digital payment solutions, banking services and business loans to individuals and small business owners across Nigeria.

Over the years, Moniepoint has expanded its operations to support entrepreneurs through access to loans and other financial services. In its 2025 report, the company disbursed more than $700 million in loans to small businesses, with three out of four borrowers receiving their first formal business credit. This development shows how financial technology companies are expanding their role in supporting Nigerian entrepreneurs.

Moniepoint's ambitions extend beyond Nigeria. In 2025, the company announced an investment in Kenya's Sumac Microfinance Bank as part of its plans to expand into other African markets. The move marked a step towards extending its financial services beyond its home market.

BasiGO: IMAGINE A CITY WHERE BUSES RUN WITHOUT DIESEL

Every day, thousands of people in Nairobi depend on buses to get to work, school and other destinations. But rising fuel prices and vehicle maintenance costs can make running a transport business expensive. What if buses could operate without depending on diesel?

This is what BasiGo, a Kenyan technology startup founded in 2021 by Jit Bhattacharya and Jonathan Green, is working towards. The company introduces electric buses as an alternative to the diesel-powered vehicles commonly used for public transportation.

Buying an electric bus can be expensive, especially for transport operators already managing other costs. BasiGo aims to address this challenge through a payment model called Pay-As-You-Drive. It allows operators to purchase electric buses at a lower initial cost and pay separately for battery services based on how much they use the buses.

BasiGo has also attracted investors interested in its plans. In October 2024, the company announced a funding package worth approximately $42 million to support the production and delivery of electric buses, as well as the development of charging infrastructure in East Africa.

For BasiGo, the goal goes beyond putting electric buses on the road. The company is also working to make them a practical option for transport operators looking to reduce their dependence on diesel.

mPHARMA: BRINGING ESSENTIAL MEDICINES CLOSER TO THOSE WHO NEED THEM

Imagine walking into a pharmacy to buy medicine, only to discover that it is unavailable or too expensive. For someone who needs treatment, this can be frustrating, especially when they have to visit several pharmacies to find what they need.

This is the kind of problem mPharma, a Ghanaian healthcare technology company, is trying to solve. Founded in 2013 by Gregory Rockson, Daniel Shoukimas and James Finucane, the company aims to make medicines more accessible and affordable across Africa.

One distinctive aspect of mPharma's approach is how it works with existing pharmacies. Rather than opening pharmacies everywhere, the company uses technology to help pharmacies manage their medicine supplies. This helps them track stock and reduce shortages, making it easier for patients to find the medicines they need.

The company also introduced Mutti, a healthcare service designed to help people access medicines and other healthcare services more easily. Through this initiative, mPharma has worked to improve access to treatment for patients who may struggle with the cost of medication.

Over the years, mPharma has attracted investors interested in its approach to healthcare. In 2021, the company raised $35 million in funding to support its growth and expansion. However, its journey has not been without difficulties, including financial challenges and restructuring reported in 2024.

Despite these setbacks, mPharma's work illustrates that technology is not only about developing new gadgets or applications. Sometimes, it is about making something as essential as medicine easier for people to access.

THREE COMPANIES, THREE DIFFERENT STORIES

Moniepoint, BasiGo and mPharma are all technology companies, but they are not doing the same thing.

Moniepoint helps Nigerian businesses manage payments and access loans. BasiGo is introducing electric buses into Kenya's public transportation system, while mPharma is working to improve access to medicines.

What makes these stories interesting is that each company identified a particular problem and is working towards providing a solution. For Moniepoint, the problem is access to financial services for businesses. For BasiGo, it is the cost of operating buses that depend on fuel. For mPharma, it is the difficulty many people face when trying to obtain essential medicines.

These companies show that technological progress does not always require inventing something entirely new. It can also involve finding better ways to deliver services people already need.

GROWING A BUSINESS IS NOT ALWAYS EASY

Having a good idea is one thing. Turning it into a business that survives and grows over the years is another.

For BasiGo, putting electric buses on the road also means ensuring that charging infrastructure is available and that transport operators can afford the vehicles.

Moniepoint must operate within financial regulations while keeping its services reliable and secure for customers. mPharma, meanwhile, has faced its own financial difficulties, including restructuring reported in 2024.

These challenges highlight the realities of building a technology company. Attracting investors and expanding into new markets are important milestones, but businesses must also find ways to remain financially sustainable while delivering services that customers can rely on.

Each of these companies faces that challenge in its own way.

WHAT COMES NEXT FOR AFRICAN TECH?

There is still a lot of room for technology companies to grow across Africa. Many communities continue to face challenges involving transportation, financial services, healthcare and other essential needs.

For startups, these problems create opportunities to develop better solutions. But identifying a problem and finding a possible solution are only the beginning. Companies must also ensure their services remain affordable, useful and reliable for the people they are designed to serve.

Moniepoint, BasiGo and mPharma have followed different paths, each with its own achievements and setbacks. Their experiences offer a glimpse into the opportunities and difficulties involved in building technology businesses around everyday needs.

The future of African technology may not depend solely on who develops the biggest invention. It may also depend on who finds better, more sustainable ways to solve the problems people face every day.