👨🏿‍🚀TechCabal Daily – Court freezes Kenya’s US healthcare deal

Beverly Ezebuike is a global fintech and blockchain marketing expert and recognised thought leader, with a track record of driving large-scale marketing operations that have generated over $50 million in profit for brands. She holds a Master’s in Digital Marketing, with Distinction, from the University of Northampton and certification from the Digital Marketing Institute (DMI).

• Explain what you do to a 5-year-old.

I lead global marketing operations for FinTech and Blockchain brands, helping them grow and make more revenue through partnerships and community-driven marketing. Over the years, I have built and executed strategies that helped me source, negotiate, and close high-value deals with affiliates, brands, influencers, and communities. Those efforts have driven over $50 million in profit and brought more than 500,000 new members into different communities, which is something I am incredibly proud of. My track record has helped me stand out in the tech space and consistently deliver exceptional results for the brands I work with.

• What’s the hardest part about growing a fintech brand in Africa?

The hardest part of growing a fintech brand in Africa is building and sustaining trust. Since stepping into the payments industry at Binance, I have seen how trust can either make or break a brand. Too many stories of platforms going bankrupt or shutting down while holding customers’ funds have left people very cautious.

In September 2024, I moved to the UK to study for a Master’s degree in Digital Marketing, graduating with distinction. During my research, I compared how marketing is done in the European fintech and blockchain sectors versus Africa, and developed strategic approaches to close some of the gaps. One of the most notable findings was that many African fintech brands struggle to get users to trust them in the early stages.

Working at Binance, Kuda Bank, and now Raenest, I engage with thousands of customers very often, and I get to see clearly how crucial trust is. The moment users feel their funds or data are not safe, they are ready to move to a competitor without looking back. I always tell organisations that once you win trust and build a genuine community around your brand, you are already hundreds of steps ahead in the market, and that is exactly what I prioritise at Raenest.

• What’s the biggest myth about digital payments or fintech marketing you’d like to bust?

The biggest myth definitely has to be when people say that fintech platforms are only safe for moving money, not keeping it. That’s simply not true. Many payment platforms have evolved into trustworthy financial ecosystems that serve millions daily. It’s important, especially for older generations, to acknowledge how far digital payments have come and how reliable they’ve become.

• If you could wave a magic wand and fix one thing about Africa’s fintech and broader tech ecosystem, what would it be?

It would be the fragmented payment system across the continent. After studying Europe’s fintech landscape (since I moved to the UK), where cross-border payments are seamless, I’ve often imagined how transformative it would be to replicate that simplicity in Africa. 

While stablecoins and new solutions are helping, the fragmented infrastructure still limits user experience and business growth. If that system could be unified, Africa’s financial ecosystem would progress rapidly. So yes, if I could wave a magic wand, I’d fix that.

Kenya’s $2.5 billion health pact with the US was pitched as a reset in how the two countries work together on health; a clean break from the old USAID-style setup. For two decades, most US support flowed through USAID contractors that ran big chunks of Kenya’s HIV, tuberculosis (TB) and supply chain systems. When those funds were cut or redirected, Kenya was left scrambling to rebuild platforms it did not fully control. The new deal was meant to fix that by shifting to a government-to-government model where Kenya co-leads, co-finances, and keeps its systems on home turf.

That promise is now on hold. A High Court order on Thursday has paused anything in the agreement that touches Kenyans’ health data after consumer lobby group Consumer Federation of Kenya (Cofek) sued. Cofek argued that the Kenyan government did not explain where the data would sit, who would access it, and how records like HIV and TB histories would be protected. It also claimed the state skipped proper public participation. The judge found enough merit to freeze implementation until February.

Government officials say the pact is safe and that the attorney general vetted every clause. The US has not commented yet, but critics say the timing is awkward. Kenya is still rebuilding digital health systems weakened by the earlier USAID exit and risks ceding strategic control “if pharmaceuticals for emerging diseases and digital infrastructure (including cloud storage of raw data) are externally controlled.”

Yet, Kenya is not an isolated case. On Wednesday, Uganda signed its own US health deal worth up to $1.7 billion ($2.3 billion total package) under the same “America First” template. With donors funding over half of Uganda’s health budget, its dependence is deeper.

For Africa, the real question is whether these new arrangements strengthen its sovereignty or simply dress up old power dynamics in new language. Kenya’s court case will set the tone.

On December 10, Standard Bank, South Africa’s largest bank by assets, partnered with Safaricom Ethiopia, a subsidiary of the telecom giant, providing $138 million in funding for the telecom company’s rollout and expansion in Ethiopia. Standard Bank acted as the sole arranger, lender, facility agent, and adviser on the deal.

State of play: Safaricom Ethiopia has over 10 million active users after just four years, but expanding coverage still requires heavy investment in towers, fibre, distribution, and spectrum. The telecom has been on a capital-raising run after securing approval from the Kenyan Capital Markets Authority (CMA) to raise a $308 million debt in November. 

Safaricom closed the first tranche of its bond raise on Wednesday, after receiving an oversubscribed KES 20 billion ($154 million).

Raising an additional bank loan from the lender spreads those rollout costs over time, reduces pressure on Safaricom’s Kenyan balance sheet, and signals to Ethiopian regulators that regional capital, not just global investors, supports the market’s liberalisation.

Between the lines: The telecom company is in the middle of a lot of drama: it is in the process of getting acquired by Vodacom, pressures from the Kenyan government to split its business three-way has also intensified, yet it marches on, raising more money for infrastructure projects.

For Standard Bank, the deal is part of a strategy to sit at the centre of cross‑border infrastructure and digital projects, earning transaction, FX, payments, and capital-markets business as the ecosystem grows. For Safaricom, it unlocks funding for its expansion while maintaining financial flexibility.

Ethiopia is one of the last major under‑penetrated telecom markets on the continent, with internet usage still below one‑fifth of the population despite millions of new users added in recent years. So, for the lender, it’s a chance to back a high-growth market, with potential for long-term returns as digital adoption expands across the country. 

Ageiro, a South African AI startup, raised $3 million to advance its AI platform. The investors were not disclosed. (Dec 9)

Here are the other deals for the week:

• BasiGo, a Kenyan e-mobility startup, secured an undisclosed funding from Proparco. (Dec 5)
• MM LEKKER, a Beninese agritech startup, secured $800,000 investment from Sahel Capital’s Social Enterprise Fund for Agriculture in Africa. (Dec 9)
• Ezeebit, a South African fintech startup, raised $2.05 million in a seed funding round, led by Raba Partnership and Founder Collective, with participation from Terry Angelos (ex-Visa), Anton Katz (Talos), Nadir Khamissa (Hello Group), David De Picciotto (ex-Revolut), and Chris Harmse (BVNK). (Dec 10)

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