Fintech
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Ecobank Group and Xtransfer have teamed up to offer comprehensive cross-border payment solutions designed for African SMEs involved in foreign trade.
Kenyan-based fintech, Tuma Ventures, has obtained a PSP licence from the Bank of Tanzania, allowing it to expand its digital payments and financial services.
Accrue, founded in 2021, has raised $1.58M to grow its payment infrastructure. Once focused on crypto investing, the startup now tackles Africa’s cross-border payments using stablecoins.
KCB Bank and Mastercard have launched Kenya’s first multi-currency prepaid card, supporting 11 currencies. The card simplifies global transactions with spending controls, real-time exchange rates, and seamless currency conversions.
Nigerian fintech Moniepoint has secured a strategic investment from Visa, months after raising $110M. The partnership aims to deepen financial inclusion, scale SME tools, and drive digital payments growth.
PiggyVest achieved significant milestones in 2024, disbursing ₦835 billion to users, growing assets under management by 76%, and planning a 2025 budgeting feature to enhance user savings.
Nigerian fintech startups LemFI has raised $53 million as it expands its remittance service into Europe. This brings the startup’s total funding to $85 million.
Mastercard has launched a new office in Accra, Ghana, to deepen its impact on West Africa’s fintech sector. The initiative aims to enhance digital payments, create jobs, and foster financial inclusion.
Over the past seven years, businesses of all sizes and sectors have undergone extraordinary transformations, driven by technological breakthroughs and shifting economic and political conditions. Nowhere is this more evident than in cross-border payments – an essential component of global trade. The way money moves across borders has changed, with innovative models rapidly emerging to…
As Nigeria’s PoS agents grapple with higher costs, withdrawal fees have climbed, frustrating customers. Solutions must balance cash accessibility with Nigeria’s shift toward digital payments.
Nubank has led a $250M funding round in Tyme Group, pushing its valuation to $1.5B. This investment highlights Nubank’s expansion into Africa and the region’s growing fintech sector.
MTN is diversifying its business with plans to launch a digital bank in South Africa, leveraging its extensive telecom reach to drive financial inclusion.
Nigerian police have arrested several bank customers linked to fraud on Flutterwave, with 601 more suspects targeted. The arrests follow recurring security breaches, including a ₦11 billion heist, raising concerns about cybersecurity.
In the past few months, the term ‘core banking application’ has become popular after major Nigerian banks announced their migrations. These migrations revealed the importance of a core banking application to financial institutions. Out of the many providers of core banking solutions, Oradian stands out as a transformative force driving financial inclusion across emerging markets.…
A voice-controlled bank app, a smart PoS, and an AI-powered lending solution have won a total of $9,500 at the Payaza Hackathon 3.0. The intensive hackathon programme which ran from Wednesday, November 20 to Thursday, November 21, 2024, was themed AI-powered financial inclusion for MSMEs. A total number of seven teams competed to dazzle judges…
Following significant milestones at Hisa, including regulatory approvals and user base growth, co-founder Eric Jackson has stepped down weeks after being acquired by Risevest.
As I move into a new chapter beyond just the fintech space, I can’t help but reflect on the transformative potential of open banking, especially in emerging markets like Africa. My journey in fintech has left me with a deep appreciation for the power of open banking to reshape financial solutions and drive inclusion. Although…
Accrue will discontinue its stock investment feature by 2024, cancelling and refunding all pending orders as it refocuses on accessible financial solutions for African users.
Lendsqr, a Nigerian fintech, has launched its loan processing platform in Kenya, expanding its efforts to drive financial inclusion across Africa.
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