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- Africa’s Tech Ecosystem Digest | Issue #11 | June 18, 2025
Africa’s Tech Ecosystem Digest | Issue #11 | June 18, 2025
This Week: Vendease Is Going Through It, Ex-Moniepoint executive sues, LemFi’s Big Move, Lagos Games Week Kicks Off, and More Funding Opportunities and Vibes to Catch!
Thalo Group
June 18, 2025
Hi Thalo Fam, 👋
Welcome back to Thalo, your insider’s guide to Africa’s tech scene. New here? You’re in for a ride!
Last week, we were hyped about Moniepoint’s cash-out wins and PiggyVest’s glitch drama. This week? Vendease Is in a Bit of a Mess, Ex-Moniepoint executive sues, LemFi’s went shopping, Lagos Games Week is around the corner, and we’ve got funding and events to spice things up. Let’s jump in!
In Today’s Edition;
Vendease Falters – What a Plot Twist!
Ex-Moniepoint executive sues
LemFi Snags Pillar for Immigrant Credit Cards
Lagos Games Week Is Here
Funding Opportunities & Upcoming Events
🚨Vendease Is in a Bit of a Mess
So, Vendease raised a ton of money not too long ago. But since then? It’s been kind of rocky. They laid off almost half the team, then cut everyone’s salary to ₦140K a month, no matter your role.
To balance things out, they offered equity instead of the rest of the pay. Which sounds okay… until you remember equity only pays off if the company bounces back.
Now there are whispers about unpaid ex-staff, vendors not getting their money, and some quiet changes at the top.
🚨From Payday to Court Day
Last week, we were all hyped about Moniepoint. A few senior staff cashed out big from that $110 million raise, one got $20K, another walked away with ₦1.3 billion. It was giving startup success story.
But this week? Plot twist.
A former Moniepoint exec is suing the company, saying he got locked out of nearly $1 million in stock options. According to him, he stayed longer based on a promise, but when it was time to cash out, things got messy.
Now it’s in court, and suddenly, the ESOP fairytale is looking a lot more complicated.
💰 FUNDING OPPORTUNITIES
 | RAISE Hackathon 2025 This is your chance to push boundaries, solve real-world challenges, and create impact at the official hackathon of the Raise Summit 2025. Prize pool: up to $150,000 in prizes. Deadline: 4 – 9 July, 2025 |
 | AWS Startups Gen AI Accelerator 2025 A global 8-week hybrid program supporting generative and agentic AI startups to prove what’s possible. Prize pool: Up to $1 million in AWS Credits Deadline: 10 July, 2025 |
 | Ignite Pro Community Pitch Competition Are you building a startup with purpose and impact? Here’s your chance to scale it faster and compete for a share of ₦10 million in funding! Prize pool: Up ₦10 million in funding! Deadline: 5 July, 2025 |
📅 UPCOMING EVENTS
 | One Dev x Protocol Labs: Nairobi Hackathon Meetup An exclusive in-person meetup co-hosted by One Dev and Protocol Labs! |
 | Lagos Games Week 2025 A dynamic event featuring VR experiences, gaming tournaments, and tech innovation. |
 | The Colloquium 2025 The Colloquium is the largest student finance conference in sub-Saharan Africa. This year’s edition, is themed “Financing the Future and Rethinking Capital”. |
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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