Yango Invests $150M to Expand Across Africa as Toyota Launches First EV in SA
Yango commits $150 million to expand across 10 more African countries including Namibia, Botswana, and Mozambique, targeting 60% growth rate in 2026. The super app, currently operating in 30+ countries including Côte d'Ivoire, Senegal, and Cameroon, strategically avoids Nigeria, South Africa, Egypt due to intense competition, focusing instead on markets with smaller urban centers and fewer major players. Yango partners with local transport operators rather than onboarding drivers directly to lower operational costs.
Meanwhile, Toyota South Africa Motors (TSAM) launched its first electric vehicle lineup, the bZ4X, priced from R1.18 million ($70,700), entering the South African EV market where Chinese brands like BYD and Geely already compete. Toyota has manufactured in South Africa since 1961 but only now launched EVs there after producing them abroad since 1997.
For entrepreneurs, the Stellar Development Foundation launched an accelerator targeting Africa, offering up to $150,000 in XLM token for startups building payments infrastructure and decentralized finance. The 12-week program begins August 2026, with an on-site component in Cape Town and demo day in Lisbon.
With African tech companies expanding strategically and automotive giants entering the EV market, what opportunities exist for Nigerian tech entrepreneurs to either partner with these expanding platforms or develop complementary services for this growing ecosystem?