Furaha, a purpose-driven lending platform aimed at boosting financial access across sub-Saharan Africa, has raised $10 million through a joint investment by SC Ventures, Standard Chartered’s innovation and fintech investment arm, and Yabx Technologies (Netherlands) B.V. SC Ventures contributed $7 million, while Yabx, part of… Read More
Global card payment processor Visa (NYSE:V)has made strategic investments in four African startups—Ghana’s Oze, Nigeria’s Orda, and Kenya’s WorkPay and OkHi—following their participation in the company’s Africa Fintech Accelerator program. The initiative, launched in 2023, is part of Visa’s broader commitment to invest $1 billion… Read More
This week, Nium, a global infrastructure for real-time cross-border payments, announced a partnership with Ecobank Transnational Incorporated, an independent pan-African financial services group, to enable cross-border payments across 35 African markets for more than 32 million customers. Nium’s real-time payments infrastructure will be integrated into… Read More
African Fintech Moniepoint has successfully raised $110 million in equity financing. The company was formerly known as TeamApt. The capital raised will accelerate Moniepoint’s growth across Africa, building an integrated platform for African businesses of all sizes. This platform will include services such as digital… Read More
Tether has announced a $1.5 million investment in Sorted Wallet in a move that is being described as boosting their presence in Africa and Southern Asia. Sorted Wallet is said to be a platform that serves the under/non-banked segment of the population. The application is… Read More
Sendsprint, a rapidly growing remittance startup founded in 2022 by former Flutterwave executive Damisi Busari, has completed the acquisition of Nobel Financial Inc. for an undisclosed sum. The acquisition marks a significant milestone in Sendsprint’s expansion, enabling the company to extend its services to users… Read More
Euronet (NASDAQ: EEFT) and Fintech Galaxy have announced a partnership to offer Open Banking services in the MENA region and the African continent. The service includes digital banking or Banking as a Service, as well as offerings for Fintechs, merchants, and more. Services include payments,… Read More
The Hashgraph Association has announced a partnership with Adanian Labs and The Africa Blockchain Centre. In a statement distributed by Hashgraph, the aim is to support blockchain development in Africa. The partnership expects to “empower over 3000 Web3 developers “across Africa through the DLT Africa… Read More
Investment bank DAI Magister said Africa’s remittance market, which is poised to reach $500 billion by 2035, makes it a prime investment opportunity. Remittances comprise a significant portion of African GDP, with the total value of remittances across the continent reaching nearly $100 billion in… Read More
South African fintech company Lesaka Technologies, Inc. has announced a definitive agreement to acquire Adumo RF (Pty) Ltd for approximately ZAR 1.59 billion ($85.9 million). The deal, which hinges on shareholder and regulatory approvals, is expected to close in the third quarter of 2024. Under… Read More
Zeepay, a finteh startup based in Accra, Ghana, has announced raising an undisclosed amount in its latest round of equity funding. The funding round was spearheaded by prominent investors including Africa50, Oikocredit, Injaro Ghana Venture Capital Fund (IGVCF), and Verdant Capital Hybrid Fund, with additional… Read More
Payments platform Ebanx has distributed a report covering some developing markets, predicting that the digital economy – including payments – will top $1 trillion in Latin America and Africa by 2026. As we all know, global consumption is on the rise, and Ebanx says Latin… Read More
International payments Fintech EBANX has expanded its operations into Africa and two additional Caribbean countries. According to a statement by the company, EBNAX now offers services in Ivory Coast, Egypt, Ghana, Morocco, Senegal, Tanzania, Uganda, and Zambia. At the same time, EBANX is now available… Read More
The all-new Kuda app has arrived on the Play Store and the App Store with features including investments and UK-to-Nigeria transfers. Financial inclusion is in “our soul,” the company claims, while noting that since 2019, they have worked “with almost five million users to build… Read More
While Africa is frequently overlooked in regard to tech development, Fintech is one sector that has boomed in the continent. A recent report distributed by Mastercard highlights the growth of innovation in financial services in the region, calling it a “funding powerhouse.” The report notes… Read More
Largest CFTC Enforcement Action Ever Involving Bitcoin. The Commodity Futures Trading Commission (CFTC) has announced its largest enforcement action regarding Bitcoin ever. According to the CFTC, charges have been filed in a case involving a South African individual, Cornelius Johannes Steynberg, and his organizations involving… Read More
World Mobile Group, a global mobile network combining renewable energy with blockchain technology, has partnered with COTI, creator of the DJED stablecoin and ADA Pay, which allows merchants to accept ADA for their goods and services. Through the partnership, COTI brings ADA Pay to retailers and… Read More
Financial Software and Systems (FSS), a global provider of integrated payments and payments processing, this week announced its collaboration with YAP, the United Arab Emirates’ (UAE) first independent digital banking platform, to deliver digital-first card experiences to consumers in the Middle East and Africa. YAP… Read More
QED Investors has hired two new executives to boost its presence in Africa. QED is one of the most prolific Fintech investors in the world. Founded by Nigel Morris and Frank Rotman in 2007, QED’s timing was just about perfect enabling it to benefit from… Read More
Banking software company Temenos today announced microfinance company Barko Financial Services plans to enter the retail banking market in South Africa with a new digital bank built on Temenos Transact and powered by The Temenos Banking Cloud. Barko will leverage the full front-to-back services, giving… Read More
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