Verve extends its reach to countries outside Africa in a new partnership, and users may need to get new cards.…
Fintech
An emerging industry, fintech (financial technology) is the innovative use of technology (e.g the internet, smartphones, SMS, digital currencies, etc) to deliver financial services. Because it improves on them, fintech is often perceived to be in direct competition with traditional methods of delivering financial services
OPay continues to expand as ‘OTrike’ launches in Aba
Opera-founded startup, Opay, has just introduced OTrike, a tricycle hailing service, in the commercial city of Aba, southeast of Nigeria.…
Why your favourite online savings platform is giving you a virtual account number
What the recent move by online savings platforms means for the Nigerian financial space.…
Nigerian fintech startups PiggyVest and Cowrywise are scaling up to become digital banks
Earlier today, two Nigerian fintech startups PiggyVest and Cowrywise announced new products that provide users with dedicated virtual account numbers, making them somewhat digital banks.…
ORide is a Trojan Horse; Opera is not just after the motorcycle-hailing market in Lagos
What Opera’s entry into the motorcycle e-hailing market means for the Nigerian mobile payment market.…
Social media as the first feasible point of contact for financial services in Africa
The level of social media and instant messaging penetration in Africa has the potential of deepening financial inclusion in the continent.…
Fintech startups are democratising investment opportunities for Nigerians, irrespective of their disposable income
Financial technology startups in Nigeria are breaking down investment opportunities for everyone, irrespective of their disposable income.…
Recent innovations in the public transport system may help drive Nigeria’s cashless initiative
The possibility of cashless initiatives in the public transport system as the key to promoting the Central Bank of Nigeria’s cash-less project.…
What the recently acquired switching license from CBN could mean for TeamApt
After being granted the much coveted switching license by the Central Bank of Nigeria, three year-old electronic payments company, TeamApt could have its work cut out for it…
Following $170m investment round, Branch is looking outside Africa’s banking system to serve the unbanked
How Branch is going after Africa’s unbanked population, following its recent partnership with Visa and a successful $170m investment round.…
Nigerian payments company, Paga won’t be a bank and isn’t afraid of telco PSBs
Nigerian payments company, Paga is 10 years old and has some interesting observations and projections.…
Why an efficient national identification system is instrumental to Nigeria’s financial inclusion drive
PiggyVest co-founder, Joshua Chibueze highlights the need for an efficient identity system towards driving financial inclusion in Nigeriaa…
The interesting symbiotic relationship between banks and fintechs in Nigeria
How the relationship between fintechs and banks is favouring both parties with the latter providing a support system to the former.…
Airtel may be beating MTN to launching a payment service bank in Nigeria
Airtel Nigeria appears to be launching its payment service bank ahead of MTN that first indicated interest in establishing a bank in 2019…
Nigerian fintech startup, TeamApt raises $5.5 million in Series A round
Nearly 4 years after launch and a period of bootstrapping to profitability, Nigerian fintech startup, TeamApt raises $5.5 million in Series A round.…
Sub-Saharan Africa has 48.8% of the total active mobile money accounts in the world
A recent report by the GSMA reiterates the importance of mobile in the Sub-Saharan African region, especially with respect to mobile money.…
Remittance into Nigeria increased by 14% to reach $25 billion in 2018 — PwC
Remittance into Nigeria in 2018 was valued at $25 billion, which is multiple of what came in to the country as foreign direct investment in the same period…
2018: Nigerian banking system did ₦80.4 trillion in inter-bank transfers
Figures from NIBSS shows that interbank transfers had the highest transaction value in the Nigerian banking system in 2018.…
Fintech startups are getting a delicious piece of the pie but Nigerian banks are not worried
Even though they offer online services that position them almost at par with commercial banks in Nigeria, it appears commercial banks do not see finance companies (fintech startups) as a real threat.…
Fintech is not a threat to Nigerian banks; the real threats are less obvious
In spite of claims that fintech companies are a threat to Nigerian banks, many of them are relying on the power of technology to service their customers. The real threats are less obvious…