African startups have raised a total of $460 million in the first quarter of 2025, just shy of the $486 million raised in Q1 2024. Despite a decline in March, with only $50 million raised compared to $165 million in the same period last year, the strong start to the year has kept the continent's startup ecosystem on track.

One of the key developments driving investment in Africa is the growing interest from international banks. Absa Group, South Africa's third-largest bank, plans to open an office in Dubai by early 2026, pending regulatory approval. This move is seen as a strategic expansion to capitalize on cross-regional investment prospects, particularly in infrastructure development and other business opportunities that align with the bank's goals.

JP Morgan is also expanding its presence in Africa, with plans to turn its Lagos office into a full-fledged branch. The global investment bank has been operating in Nigeria since the 1980s and is now seeking a merchant banking license from the Central Bank of Nigeria. This expansion is part of JP Morgan's broader plan to grow its business across Africa, where it has already opened new offices in Abidjan, Ivory Coast, and Nairobi, Kenya.

In other news, Kenya's Chpter has spun off its WhatsApp API suite, Pluto, as a subsidiary. Pluto automates customer interactions and processes transactions directly within WhatsApp chats, solving the problem of cart abandonment that has plagued social commerce platforms. The company has seen a spike in demand for its technology, particularly after partnering with Meta, WhatsApp's parent company.

The ride-hailing sector is also experiencing significant developments, with Nigerian transport union workers threatening to boycott inDrive, a US-based ride-hailing app operating in Nigeria, over concerns about passenger safety. The union has called for better security features to verify passengers and allow drivers to indicate when they feel endangered.

Finally, the World Wide Web3 crypto tracker shows a mixed performance, with Bitcoin down 1.09% and Ether down 2.07% in the past day. However, the crypto market remains volatile, with Solana experiencing a 3.48% decline in the past day.

These developments highlight the dynamic nature of Africa's tech ecosystem, with startups, banks, and ride-hailing companies all playing a critical role in shaping the continent's economic future.