Fintech
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Risevest, a Nigerian online investment platform that offers users access to Nigerian and global investments, is reportedly in talks to acquire Kenyan-based fintech Hisa. This follows its competitor’s recent launch in South Africa.
What do you do when you’re suddenly required to stop onboarding new customers? In this interview with Techpoint Africa, Kuda’s CTO, Musty Mustapha, shares how the fintech handled the CBN’s surprise directive and the lessons learned from the experience.
Wema Bank has launched AlatPay, an offshoot of Alat and the financial institution’s solution to help small business owners process instant digital payments.
TerraPay, a digital payments provider focused on remittance transfers in Africa, has raised $95 million in debt financing from IFC and BII to enhance low-cost remittance transactions across Africa.
Remittances to Africa constitute nearly 10% of the continent’s GDP, but costs remain high. TransferGo, fresh from a $10 million investment, is expanding its African operations, and CEO Daumantas Dvilinskas shares the company’s plans in this interview.
Two years after raising a $10 million seed, NALA, a Tanzania-born remittance startup, has raised a $40 million Series A round to build its new B2B payments platform, known as Rafiki, and scale its remittance business.
Nigeria’s economy relies heavily on small businesses, but they face significant hurdles in accessing credit. However, the success of informal lenders offers valuable insights into how to improve lending services for these businesses.
TymeBank, a digital bank in South Africa, has announced the appointment of Karl Westvig as its new Chief Executive Officer (CEO), effective October 1, 2024. Westvig will succeed Coenraad Jonker in this role.
Colombian-born fintech startup Minka has disclosed its plans to expand its business to Africa, specifically Kenya, Tanzania, Ethiopia, Uganda, Malawi, Zambia, Burundi, and Mozambique.
NCBA Group has completed a 100% buyout of AIG Kenya for an undisclosed amount. This acquisition follows NCBA Group’s record of growth in its net profit for Q1 2024 and for the year ended December 2023.
Bamboo, a Nigerian-based online stock platform, has commenced its operations in South Africa a month after launching Nigerian stock.
A new report by the Communications Authority of Kenya (CA) shows that the number of mobile money subscribers in Kenya has increased to 38.7 million, up from 38 million in December 2023, thanks to the removal of Airtel withdrawal codes.
Egypt based fintech, Connect Money, has closed its seed funding round of $8 million to further expand into Egypt and Morocco.
Nigerian fintechs issue debit cards to drive user engagement and tap into new revenue streams, but rising costs threaten their continuity.
Nigerian digital bank, Eyowo, said it has received its full and final licence from the Central Bank of Nigeria (CBN), 13 months after the apex bank revoked the licence along with 45 other microfinance banks.
Momoh and Obasi have considerable experience leading operations at financial institutions including Mastercard, FCMB, and Verve and will be expected to leverage that experience to drive operations at AfriGO.
Emerging market-focused payroll service provider, Cadana, has secured a $7.1 million seed round to streamline and accelerate remittance for African talents, three years after it raised $325k in pre-seed funding.
Carbon, a Nigerian-based financial technology company, has announced shutting down its debit card service effective June 19, 2024. This comes almost three years after the bank launched it in August 2021.
After Zone launched Africa’s first decentralised PoS payment gateway, there were many questions about how it works. CEO, Obi Emetarom answers seven burning questions about the blockchain-powered PoS payment gateway.
MultiChoice and Sanlam have agreed to acquire 60% of MultiChoice’s insurance business, NMS Insurance Services (NMSIS). This comes as MultiChoice Group is at the edge of being acquired by a French media company.