Fintech
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In light of fraudulent activities threatening Nigeria’s fintech progress, Toyeeb Ibrahim, CEO of Leatherback, advocates for collaboration and stringent compliance to effectively combat fraud.
The African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) and Visa have partnered to launch Financial Inclusion in Kenya and Tanzania (FIKT) to improve access to financial services in Kenya and Tanzania.
Leatherback, a Nigerian fintech, has inked a strategic partnership with YES BANK, a Mumbai-based full-service commercial bank, to streamline remittances and Indian Rupee (INR) payouts in India.
Nigerian fintech startup LemFi has partnered with Visa’s Cross-Border Solutions division to facilitate cross-border transactions in China, India, and Pakistan. This comes after the company hired ex-Opay COO Allen Qu to lead China expansion.
Zone (formerly AppZone) might have created the first true fintech innovation in Africa by bringing fiat to the blockchain with its Zone blockchain. But how does it work, and what makes it a big deal?
Onafriq, a pan-African digital payment service, and Safaricom’s M-PESA have signed a deal to streamline remittance flows into Ethiopia.
Union54 and Mastercard have collaborated to launch ChitChat, a social commerce platform in Zambia that allows users to transfer money to one another via digital wallets directly from their chats.
Kuda Microfinance Bank, a Nigerian neobank, has obtained payment licences in Tanzania and Canada to expand its services throughout Africa and the globe.
Flutterwave has appointed Dipo Fatokun, a former director at CBN, as chairman of its board and Tosin Faniro-Dada as its independent non-executive director.
Three weeks after Mastercard acquired a minority stake in MTN MoMo, the two companies have partnered to launch MoMo virtual cards for customers and merchants in 13 African markets.
Olajumoke Adenowo, a Nigerian architect, has joined Flutterwave’s global board of directors. She becomes the fintech’s first independent, non-executive board member.
Mastercard has partnered with Awash Bank in Ethiopia to enable customers to withdraw cash from ATMs, make payments at point-of-sale terminals, and shop online wherever Mastercard is accepted, among other things.
Payments giant Mastercard has appointed Folasade Femi-Lawal as the new Country Manager and Area Business Head for West Africa to help drive the company’s growth and innovation agenda.
Following the demise of Access Holdings’ co-founder, Herbert Wigwe, the company has appointed Bolaji Agbede as Acting Group CEO, subject to approval from the Central Bank of Nigeria.
Visa has partnered with the Egyptian Banks Company (EBC) to make international remittances easier and more efficient for Egyptians living abroad. This comes five days after the declaration of a partnership with Mastercard.
A court in Lagos has ordered banks to unfreeze accounts in connection to a ₦2.9 billion Flutterwave hack last year. However, the account owners say Access Bank and Providus Bank are yet to comply with the order.
Flutterwave has obtained a court order to recover the $24 million it lost due to a “technical glitch” on its platform that resulted in unauthorised PoS transactions nearly four months ago.
Absa Bank has introduced ChatWallet, a new wallet for sending and receiving payments via WhatsApp in South Africa. The new wallet comes after it launched its ChatBanking solution in 2018.
Charges have been brought against an M-Pesa agent for allegedly holding KSh392,000 ($2,442) that was inadvertently transferred to her account.
Paystack has launched a payment option in Cote d’Ivoire and South Africa that allows users to pay in iOS apps and on the web via Safari.
