UK Emerges as Key Base for African Technology Companies

The United Kingdom is becoming an important base for African technology companies seeking incorporation, operational expansion, regulatory access and links to international capital, according to a November 2026 report by TLP Advisory.

The cross-border venture law firm examined 100 technology companies from Nigeria, Kenya, South Africa, Egypt, Ghana and Morocco with documented affiliations in the United Kingdom, the United States and the United Arab Emirates.

The United States was the most common destination, with 67% of the companies connected to it. The UK followed at 32%, while 23% had links to the UAE. The affiliations examined included company registration, operational presence and regulatory licensing.

Different roles for the US, UK and UAE

TLP Advisory associated the US mainly with incorporation, particularly through familiar corporate structures such as Delaware companies. In 81% of US-connected cases, incorporation was the only recorded link to the country.

The UAE was more closely linked to operational bases. Only 13% of companies connected to the UAE had incorporation as their sole recorded relationship, according to the report.

The UK showed a broader combination of connections. Some 84% of UK-linked companies were incorporated there, 47% maintained an operational presence and 19% held regulatory licences.

Nigerian companies represented roughly two-thirds of the identified UK regulatory licensing connections. Most of the businesses in that group were financial-services companies, the report said.

Regulation, diaspora links and capital

The UK’s appeal to African fintech companies includes its national financial-services regulatory framework overseen by the Financial Conduct Authority. This contrasts with the United States, where money-transmission licensing is handled across 49 states and Washington, DC, and with the UAE’s separate mainland and financial-free-zone arrangements.

The report also points to commercial and diaspora connections involving Nigeria, Ghana, Kenya and South Africa. These communities can provide an initial customer base for companies operating in remittances and payments.

More than 270,000 Nigeria-born residents were recorded in England and Wales in the 2021 UK Census. Nigeria received $22.8 billion in personal remittances from its diaspora in 2025, according to the information cited in the report.

The UK government has also introduced initiatives intended to attract founders and investors, including the Global Entrepreneur Programme and the Innovator Founder visa. Tax schemes such as the Seed Enterprise Investment Scheme and the Enterprise Investment Scheme, as well as capital-market measures, are part of the country’s effort to support companies at different stages of growth.

TLP Advisory said more than 110 African companies are listed on the London Stock Exchange. Airtel Money began trading on the exchange’s Main Market in October 2026 at an approximate valuation of £5.3 billion.

Presence does not always mean major operations

The report cautions that a UK entity does not necessarily demonstrate that a company has built a substantial business in the country. A significant operating presence may require customers, employees, licences, local partnerships and sustained expenditure.

Overseas subsidiaries can also create legal, tax, reporting and compliance costs. Moniepoint’s UK subsidiary reported a £1.2 million loss in 2024, its first year of operation, before generating revenue in the country. The company attributed the spending to establishing the infrastructure, technology and compliance systems needed to enter the market.

The wider pattern shows that African technology companies use different jurisdictions for different purposes. Jumia listed on a US exchange in 2019, while OPay withdrew a planned $304 million New York initial public offering in October 2026 following a regulatory inquiry.

In March 2026, the UK government published a list of Nigerian companies expanding operations in the country, including Moniepoint, Kuda and LemFi. The TLP Advisory findings suggest that the UK’s combination of regulatory access, diaspora-linked markets and capital-market infrastructure is helping maintain its position among the main destinations for African technology businesses.