With fintech startups, finance has evolved from analogue to digital. The next stage is decentralisation, enabled by the blockchain technology, and tech startups are gradually positioning themselves…
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
Sandboxes, open banking, and the impact on financial inclusion in Nigeria
Recent moves, such as open banking and sandbox initiatives, have been made to improve financial innovation in Nigeria. Based on recent studies, could they really be the answer to deepening financial i…
Focus on Africa’s remittance market appears to be increasing with Ecobank and Alipay partnership
In keeping with an increasing focus on Africa’s remittance market by financial players, Ecobank partners with Alipay in a move that could take the reach of its remittance platform to about 1.2 billion…
Interswitch lists ₦23 billion bonds on the NSE: what’s next for Nigeria’s first unicorn?
On the back of plans to officially list on the NSE and the LSE, Nigeria’s pioneering fintech company, Interswitch limited, looks to enter a new stage in its growth, with the issue of a ₦23 billi…
Ecobank launches a Pan-African banking sandbox that will feature Flutterwave, Africa’s Talking, and other fintechs
Ecobank Group has quietly launched a pan African banking sandbox, giving partners and fintechs in 33 countries, access to its APIs to develop innovative financial solutions across the continent.…
Visa, Mastercard and an ongoing battle for Nigeria’s electronic payments space
Both Mastercard and Visa have participated in separate funding rounds in Nigerian fintech company, Flutterwave, signalling a long-time rivalry and what seems to be a battle for Nigeria’s card and onli…
In the battle between banks and fintechs, the customer is the only true winner
With reduced interest rates eclipsing those offered by fintechs in the moneylending space, commercial banks may be creating fresh competition that could give Nigerians a taste of what has been missing…
Beyond OPay, your favourite lending apps may be at risk for alleged violation of Google’s policies
A recent report suggests Opera’s micro-lending platforms may have violated Google’s policies but other lending platforms are not exempt from this. Should they be worried?…
UPDATED: OKash loan feature removed from OPay app, amidst heavy backlash on its lending policy
OPay takes lending feature, OKash, off its app. This might be in response to reports that recently emerged stating that Opera’s lending businesses have been in constant violation of Google’s Playstore…
Financial predictions for 2020: WhatsApp will give fintechs a tough time
Fintech expert, Adedeji Olowe makes some educated guesses on the Nigerian fintech space in 2020, with WhatsApp predicted to put fintechs under threat, a major fintech acquisition and the arrival of th…
Fintech 2019 predictions revisited: What really happened?
A look at the predictions of Open Banking Nigeria trustee, Adedeji Olowe, for the financial technology space in 2019 shows that some of them came to pass.…
Vodacom Tanzania partners WorldRemit to enable international mobile money remittance into Tanzania
Tanzanians abroad can now send money directly to recipients’ M-Pesa wallets as Vodacom Tanzania partners with WorldRemit in a mobile money transfer deal…
OPay takes another step towards becoming Africa’s WeChat with new messaging feature
OPay continues to try out different services on its mobile application with a messaging feature now added to an existing log of 15 services. We explore what this might mean for the startup’s super app…
Nigeria now has its first fintech industry innovation sandbox
Backed by the CBN and NIBSS, Financial Service Innovators has launched a fintech industry innovation sandbox to help innovators develop creative financial solutions and scale regulatory hurdles…
OPay, PalmPay and a long line of Chinese investor interests in Africa
There is a competition brewing between OPay and PalmPay, and this thinking is down to the strong investor network of both sides. But how deep does the investor tie really go?…
TECNO parent company, Transsion Holdings enters African mobile payments with PalmPay
Transsion Holdings, the company behind the TECNO, Infinix and Itel brands, may have finally entered the African mobile payment market with PalmPay. Could this signal a competition with Opera’s OPay?…
Interswitch is about to become Nigeria’s first billion-dollar tech company, for real this time
Visa is reportedly about to acquire a 20% stake in Interswitch for $200m, effectively making it Nigeria’s first unicorn; i.e. a privately-held company valued at $1 billion or more.…
₦50 stamp duty: A case of 1 step forward and 5 steps back for CBN’s cashless initiative drive
Insights from merchants and customers all point to the fact that the ₦50 stamp duty on POS transactions is counterintuitive to CBN’s cashless society project.…
OPay transaction fee hike is aimed at keeping users within its ecosystem
OPay recently reviewed the transfer bank charges fee on its platform. The implication is that users no longer have the luxury of paying ₦10 for bank transfers on the platform. But the payment platform…
Chaka wants to help Nigerians invest in over 4,000 local and foreign assets
Chaka is giving Nigerian access to invest in assets listed on both local and foreign exchanges.…