It’s Moonshot week!
The PHP pandemic is sending shivers via authorities IT departments. On Friday, South Africa’s Presidency quickly took its website offline after two crucial PHP vulnerabilities, the programming language that powers hundreds of thousands of web sites, had been uncovered earlier than fixes had been able. The insects, nicknamed “PHP2Shell,” may just let attackers run malicious code on inclined servers.
Just about 10,000 Web-facing servers in South Africa ran PHP, so the most secure transfer, a minimum of quickly, used to be to tug the plug. However we wonder if the websites will come again operating patched PHP, or if authorities IT bros are about to have a couple of sleepless nights.
Let’s dive in.
Learn sensible insights about Francophone Africa’s tech ecosystem—weekly.
Banking
Banque du Caire’s IPO will get a lot larger
After MNT-Halan’s a hit public outing, heads are already turning in other places in Egypt. The rustic introduced buyers extra stocks of Banque du Caire. They nonetheless sought after extra.
What took place? Banque Misr, the state-owned father or mother of Banque du Caire, Egypt’s sixth-largest industrial lender, has now showed it will sell 45% of the financial institution, up from the 30% at the beginning deliberate. On the anticipated EGP 5.30 ($0.1) be offering value, the sale would lift about EGP 36.4 billion ($680 million), making it Egypt’s biggest preliminary public providing (IPO) within the closing 5 years.
Call for seems sturdy. The institutional e book used to be reportedly about six instances oversubscribed, whilst the Eu Financial institution for Reconstruction and Construction (EBRD) and the Global Finance Company (IFC) have each and every agreed to shop for as much as 15.74% of the non-public placement.
Catch up: We wrote last week that Banque Misr used to be taking into account expanding the sale to 45% after investor roadshows drew stronger-than-expected pastime. Egypt’s Monetary Regulatory Authority (FRA) has now licensed the rise.
The IPO continues to be fully secondary. Banque du Caire will get not one of the cash. Banque Misr is promoting current stocks and can retain 55% of the financial institution.
Between the strains: Expanding an IPO by means of part and nonetheless pricing on the top quality is an invaluable call for sign. However value issues too. Two brokerages price Banque du Caire at EGP 6.55 ($0.12) and EGP 7.80 ($0.15) consistent with proportion, respectively, above the predicted EGP 5.30 ($0.1) be offering value.
Traders aren’t merely creating a macro guess on Egypt. They’re being introduced a big financial institution at a value some analysts nonetheless imagine discounted.
Zoom out: Egypt wishes with regards to $1 billion extra in asset gross sales to fulfill a $1.5 billion divestment goal tied to its International Monetary Fund (IMF) programme. Banque du Caire offers that programme one thing treasured past the proceeds: proof that the state can put a big asset available on the market, build up the availability, and nonetheless in finding patrons.
The following check comes when buying and selling starts. Oversubscription tells us buyers sought after Banque du Caire on the be offering value. The marketplace will let us know what they believe it’s if truth be told value.
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Fintech
OPay is elevating as much as $336 million in US IPO
OPay, the cell cash fintech massive running in Nigeria, plans to sell 16 million American depositary stocks (ADSs) for $19 to $21 each and every at the New York Inventory Trade, the place it plans to industry underneath the ticker OPAY. Each and every ADS represents 10 unusual OPay stocks.
Provide an explanation for like I’m new right here: In Might, Bloomberg reported that OPay used to be running with primary banks on a possible US checklist that might price the corporate at round $4 billion.
On the time, that used to be nonetheless a private-market estimate. Now, OPay is placing a real value vary in entrance of public buyers.
The fintech’s closing valuation used to be in 2021, when it raised $400 million at a $2 billion valuation. Since then, the corporate has grown its bills trade and expanded its consumer base. In H1 2026, OPay’s earnings greater than doubled year-on-year to $806 million.
Usual Financial institution, via its subsidiary Stanbic Africa Holdings, may be investing up to $200 million in OPay via a separate proportion acquire, giving the fintech a strategic institutional investor because it makes the transition.
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Web
Starlink is chopping off South Africans who use its roaming loophole
Starlink, the Elon Musk-owned satellite tv for pc Web carrier supplier, has been in regulatory limbo in South Africa. Its carrier isn’t formally to be had within the nation, however South Africans have controlled to make use of it anyway. Now, that workaround goes to vanish.
What took place? Starlink has started enforcing a trip registration requirement for purchasers the use of its world roaming carrier in South Africa. Some customers who had been nonetheless getting Web via imported Starlink kits have won notifications asking them to check in their trip main points or lose get entry to.
Provide an explanation for like I’m new right here: The Web supplier has been stuck up in a regulatory dispute over how it will meet the rustic’s necessities for international corporations running within the telecommunications marketplace, together with regulations round black financial empowerment (BEE) and possession.
Starlink offered to invest in South Africa as a workaround to forestall giving up fairness. A rule permitting international telecom suppliers to function within the nation has confronted fierce political opposition, preserving Starlink locked out.
What’s the shortcut? South Africans purchased Starlink {hardware} and registered their accounts in nations the place the carrier used to be formally to be had. They then used Starlink Roam, a function for purchasers who take their Starlink equipment with them whilst travelling.
Why does Starlink care? For some time, Starlink let this slide. South African customers may just stay connecting although the carrier wasn’t formally supported in the community. That began converting in 2024, when Starlink started implementing a 60-day continuous-use restrict in South Africa.
For some customers, that allowance used to be later lowered to 30 days and ultimately as low as seven days. The newest trip registration requirement offers Starlink otherwise to spot who’s if truth be told travelling and who’s the use of Roam as a workaround.
So, what now? South Africans depending on roaming will have to be expecting that path to turn out to be tricky to make use of. Starlink’s registration procedure calls for data reminiscent of a buyer’s title, nationality, date of beginning, and government-issued id, making it a lot more difficult to hide an enduring South African consumer as a traveller.
Each and every ambition has a vacation spot. What’s yours?
Each and every founder has a subsequent transfer. Each and every skilled has someplace they wish to get to. However no two solutions are slightly the similar. Gray is calling one query: the place are you going? Share your answer.
Financial system
Kenya is going after hidden corporate homeowners in FATF go out push
Kenya is 2 containers clear of completing its FATF homework. One ultimate headache is making sure corporations and trusts can not disguise their homeowners.
What took place? The Treasury mentioned it’ll tighten enforcement of really helpful possession regulations as a part of its push for an April 2027 go out. Kenyan corporations will have to divulge individuals who in the end personal or keep watch over greater than 10% of them, however compliance has been patchy. A brand new Agree with Management Act additionally calls for trusts to stay registers in their really helpful homeowners.
The function is to make it more difficult to cover cash in the back of layers of businesses, nominees, and trusts.
Provide an explanation for like I’m new right here: Kenya has been at the Monetary Motion Process Pressure (FATF) gray listing since February 2024 as a result of weaknesses in the way it prevents and prosecutes cash laundering and terrorist financing. On October 14, the rustic’s Monetary Reporting Centre (FRC) said that it had addressed 19 of 21 motion pieces.
Then again, FATF’s June assessment nonetheless grouped Kenya’s exceptional paintings into seven large spaces, together with really helpful possession, monetary intelligence, money-laundering prosecutions, and supervision of high-risk companies.
Between the strains: Kenya is shifting from passing regulations to proving they paintings. FATF will need proof that regulators can establish an organization’s actual proprietor, punish companies that disguise possession data, flip suspicious transaction reviews into helpful intelligence, and convey money-laundering circumstances that fit the rustic’s dangers.
Why it issues: FATF itself does now not inform nations to use additional assessments to grey-listed jurisdictions robotically. However different regulators can. The Eu Union (EU) added Kenya to its high-risk listing in August 2025, expanding scrutiny for transactions involving Kenya.
Zoom out: Finishing all 21 motion pieces won’t robotically take away Kenya from the gray listing. FATF will have to nonetheless ship a staff to make sure that the reforms are running in apply earlier than its individuals can vote to delist the rustic. Till then, Kenya assists in keeping the grey-list tag, along side the additional scrutiny it might probably cause for banks and companies shifting cash across the world.
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CRYPTO TRACKER
The Global Large Web3
Supply:
|
Coin Identify |
Present Price |
Day |
Month |
|---|---|---|---|
| Bitcoin |
$81,465 |
– 1.63% |
– 6.55% |
| Ether |
$2,390 |
– 2.19% |
– 14.03% |
| XRP |
$1.31 |
– 2.20% |
– 19.85% |
| Solana |
$103.84 |
– 1.51% |
– 13.17% |
* Information as of 05.59 AM WAT, October 26, 2026.
JOB OPENINGS
- CredPal — Credit Underwriter — Lagos, Nigeria
- Sparkle Nigeria — Business Growth Manager — Lagos, Nigeria
- Tech Safari — Content Lead — Nairobi, Kenya, and Abuja, Nigeria (far off, any place in Africa)
- Pesa — Social & Influencer Marketing Manager — Faraway (Nigeria)
- Bamboo — Product Manager (Misan) — Hybrid (Lagos, Nigeria)
- Àngeles Sostenibles — Operations Associate — Abuja, Nigeria
- Coinomad — Sales Manager, Business Development Manager — Nigeria
- Sumsub — Senior Anti-Fraud Analyst — Faraway (any place)
- AfriChange — Compliance Specialist — Faraway (Nigeria)
- Scouthappy — Growth Lead for Fintech (Stocks) — Faraway (Nigeria)
- Daya — Growth Product Manager (Daya Coins) — Faraway (Nigeria)
- Qore — Site Reliability Engineering (SRE) Manager — Lagos, Nigeria
- Afreximbank — Student and Postgraduate Internship — Cairo, Egypt
In search of extra alternatives? There are further openings on TechCabal’s job board. We’ve additionally cleared out old-fashioned listings to stay alternatives recent for process seekers. Should you’re hiring and want to function an open position, please submit it via this form.
Written by means of: Emmanuel Nwosu and Yemi Kareem
Edited by means of: Emmanuel Nwosu & Ganiu Oloruntade
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Salisu Yusuf is a writer and blogger dedicated to sharing engaging perspectives, timely updates, and thoughtful commentary. With a keen eye for compelling storytelling, Salisu breaks down key topics and trending discussions into clear, accessible reads for everyday audiences. When not drafting new posts or researching upcoming stories, Salisu focuses on building meaningful connections with readers and exploring fresh ideas across digital media.