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- Africa’s Tech Ecosystem Digest | Issue #10 | June 11, 2025
Africa’s Tech Ecosystem Digest | Issue #10 | June 11, 2025
This Week: Nigeria’s Moniepoint Cash Out Big from company Shares, PiggyVest System Glitch Sparks Reactions, and Funding & Events to Watch
Thalo Group
June 11, 2025
Hi Thalo Fam, 👋
Welcome back to Thalo, your insider’s guide to Africa’s tech scene. New here? You’re in for a treat!
Last week, we unpacked South Africa’s Starlink policy shift and Heroshe’s shutdown woes. This week, we’re diving into Moniepoint Staff Shares Cash Out, Piggyvest Interest Rate Buzz and the latest funding and events to keep on your radar.
In Today’s Edition
Piggyvest Glitched, But Their Response? Chef’s Kiss
Moniepoint Staff Cash Out
Fresh Funding Rounds & Accelerator Programs
Can’t-Miss Events with Networking Opportunities
🚨Piggyvest Glitched, But Their Response? Chef’s Kiss
So this morning, some Piggyvest users noticed their Flex Naira and Dollar balances were off. Understandably, people got nervous.
But to be fair, Piggyvest handled it well. They owned up to the issue quickly, gave a clear update, and let everyone know their money was safe. No vague talk, just straight to the point.
But one comment really stood out hilariously...
💰Moniepoint Staff Just Got Paid
Remember Moniepoint’s big $110 million raise last year? Well, it wasn’t just good news for the company, a couple of senior employees walked away with serious wins.
Reports say two staff members sold some of their shares during the unicorn round. One took home $20,000, and the other? A whopping $850,000, that’s about ₦1.3 billion.
With 2 out of 3 Nigerians using Moniepoint terminals, it’s not surprising the fintech is on fire. And now, the people building it are starting to see the rewards.
Naturally, this sparked fresh conversations around ESOPs and how more startups should be setting up their teams to benefit when big moments like this happen.
💰 FUNDING OPPORTUNITIES
 | TechCircle Pitch2Win 5 Fifteen (15) startups will pitch live before a panel of 30+ global investors and leading local VCs for a chance to win a $10,000 equity-free grant. Prize pool: up to $10,000 Deadline: 15 June 2025 |
 | SLINGSHOT 2025 - Deep tech Compete for grant prizes worth over S$2 million when you take the global stage & showcase your trailblazing solutions to the world! Prize pool: over S$2 million Deadline: 11 July 2025 |
 | Hedera Africa Hackathon With $1 million in prizes, the hackathon aims to engage 10,000+ participants across 20+ African cities and online, driving real-world adoption. Prize pool: over $1 million Deadline: 30 September 2025 |
📅 UPCOMING EVENTS
 | DBN Techpreneur Summit 2025 Development Bank of Nigeria Summit for Technology Based Entrepreneurs |
 | Lagos Startup Expo 2.0 The Lagos Startup Expo (LSE) spotlights startups, creating an environment to showcase their products & meet with existing and potential customers. |
 | Lagos Future Conference 2025 This in-person event will bring together thought leaders, industry experts, and visionaries to explore what the future holds for Lagos and beyond. |
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That's a wrap for this issue! We're just getting started, and we've got tons of exciting stuff planned. See you next week!
Cheers,
The Thalo Team