
Fintech Unicorn Wave Secures $137 Million in Debt to Advance Financial Inclusion in Africa
Mobile money operator Wave has secured $137 million in debt to ramp up its operations and expand into additional African markets.
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The U.S. retail giant Walmart has officially opened its first store under the Walmart name in South Africa, marking a major step in its African expansion.
Located at Clearwater Mall in Roodepoort (a suburb of Johannesburg), the store opened its doors on 22 November 2025.
Though Walmart has long operated in South Africa through its wholly-owned subsidiary Massmart (which controls local chains such as Makro, Game and Builders Warehouse), this is the first time the company is launching a store bearing the Walmart brand in the country or on the African continent.
At the grand opening, the store attracted hundreds of eager customers, many queuing for hours in hopes of securing special offers and gaining access to global-brand products not commonly found in local stores.
For example, items such as air-fryers from the Beautiful line by actress Drew Barrymore and imported soft-drink brands were highlighted.
One distinguishing feature of the new store is a 60-minute online delivery service within a 5 km radius of the store – enabled via Walmart’s locally-adapted shopping app.
This puts Walmart directly in competition with existing rapid-delivery services such as Sixty60, the on-demand grocery platform run by retail rival Checkers.
Walmart emphasises that the move is about more than retail expansion.
According to Walmart’s executive vice-president, Andrea Albright, the rollout reflects the company’s mission to “help customers save money and live better” by offering consistently low pricing and wider product choice.
On the local front, the opening has created around 80 new jobs in the Roodepoort community and broadened engagement with local small and medium enterprises: 15 SMEs are reported to be partnering with Walmart’s supply chain in the region.
Analysts suggest this move signals a fresh phase of competition in South Africa’s retail sector.
Walmart’s direct-brand presence may spur price pressure, heighten supply-chain efficiency, and increase the range of goods available to consumers, particularly in a market traditionally dominated by long-established local chains.
Walmart’s Roodepoort store represents the U.S. retailer’s formal entry into the African retail landscape under its own name and a test case for how global players may change the shopping experience, pricing dynamics and supplier relationships in South Africa.

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