Good Morning, Chop Family!
You are enough, you are rich and beautiful … well, even if you are not, you should think so, especially today, since its is Optimist Day today! So talk yourself up and crush the day!
📈 AROUND THE GLOBE
Trump and Xi held a high-stakes and wide-ranging call that tackled heavy topics, such as the recent tension between the U.S. and Iran, and Taiwan. The two leaders are expected to meet later this year to continue the discourse.
China has drawn a line about Taiwan and still has plans for a reunification with the semi-independent island. Trade and tariffs will, of course, be on the menu for discussion.
MARKET MOVES
BUSINESS
According to the Global Solar Council’s latest report, 2025 was a record-breaking year for the continent, with solar capacity additions jumping by a massive 54% compared to 2024.
The bump is being fueled by a mix of policy reforms and a private sector that is tired of waiting for stable national grids. While South Africa remains the heavyweight champion of the region, Nigeria is quickly becoming a major contender as businesses and households switch from expensive diesel generators to solar panels.
With eight countries now crossing the 100MW annual installation threshold (double the number from last year), the continent is turning to solar, not because of the “green” benefits, but because it has become a viable option for many households.
The Solar Scorecard:
South Africa: The undisputed leader, adding 1.6 GW of new solar capacity in 2025.
Nigeria: Secured the second spot with 803 MW added, a significant leap driven by off-grid demand and rising fuel costs.
Egypt: Followed closely in third, contributing 500 MW to the continental grid.
Capacity Growth: Africa added 54% more solar capacity in 2025 than in 2024, the highest annual deployment ever recorded.
Distributed Power: Nearly 44% of new capacity came from “distributed systems” like rooftop solar and mini-grids, rather than massive government utility plants.
Future Outlook: Experts predict Africa could install over 33 GW of solar by 2029—more than six times the current 2025 total.
Look out for our up and coming deep dive into the Solar Sector Surge in Africa.
⚡ FINANCE
Redtech Ltd., the fintech arm of Tony Elumelu’s Heirs Holdings, is gearing up for some big moves. The Lagos-based startup is weighing a $100 million capital raise over the next two years to fund a massive expansion into 29 African countries.
Currently a key player in Nigeria’s agency banking and payment gateway space, Redtech is looking to graduate from the “startup” phase to a pan-African heavyweight, aiming to challenge unicorns like Moniepoint and Flutterwave.
The Strategy:
Growth Targets: Redtech aims to scale from 25 billion transactions in 2025 to a staggering 100 billion transactions annually.
Transaction Value: The goal is to move N100 trillion in total value over the next two years, up from N30 trillion last year.
Infrastructure: The company has already deployed 30,000+ PoS devices across Nigeria to secure its foothold in the retail market.
Funding Stage: The $100 million raise will likely take the form of a Series A round once the groundwork for the continental rollout is complete.
Is there a need for another player in the packed and highly competitive financial payment space? In our eyes, there isnt any major or new problems to solve that other groups have not done, but we get that it is still a profitable sector to play in.
TECH
More Fintech Moves?
MTN is on a shopping spree. CEO Ralph Mupita says Africa’s biggest telco is hunting for fintech acquisitions in payments, lending, and remittances to beef up its platform.
With venture capital drying up across the continent, MTN is looking to use its $2 billion cash pile to scoop up startups at a discount.
They want to transform their 300 million subscribers into a massive digital banking machine and potentially enter new markets like East Africa through fintech apps rather than expensive cell towers.
The Strategy:
Buyer’s Market: MTN is capitalizing on the “funding winter” to buy valuable tech that would otherwise struggle for VC cash.
Sector Focus: They want “plug-and-play” tools for credit, insurance, and cross-border transfers.
Valuation: Its fintech arm is already a beast, valued at $5.2 billion following a stake sale to Mastercard.
Beyond the line: The group is pivoting from a traditional telco to a “platform company,” betting the future of profit is in financial services, not just data.
SMALL CHOP
Shaboozey
There is a divide between FBAs and African Immigrants to the United States. FBA stands for Foundational Black Americans (descendants of slavery). ADOS ( American Descendants of slavery) is also a term associated with this.
Well, Shaboozey (Nigerian American Country artist), who won a Grammy at the recent award show, caused a bit of a stir and controversy when, in his acceptance speech proclaimed that Immigrants built America.
He quickly found out via X (Twitter) that he ruffled some feathers. FBA folks clapped back, stating that they (FBA) built America, with their free labour and suffering. Shaboozey later apologized on X and clarified his point.
Do you agree with the FBA peeps?
DISH OF THE DAY
Today’s dish is actually a drink. The infamous Wagari spirit from Uganda has gained a global reputation. It is a locally distilled “gin”, not technically a gin, but it’s a distilled liquor made from fermented banana, millet, sugarcane, and other crops. It is known for its high alcohol content (like moonshine), and it is not meant for lightweights!
Be careful with this drink; we just had a small drink, and that was plenty!
Did You Know? Locally distilled alcohol is one of Africa’s oldest industries.
Long before imported spirits arrived, communities across the continent were making drinks from palm sap, millet, sorghum, bananas, and honey.
Till next time,
Chop Team
