Tagged: africa

Cameroon’s Afriland First Bank Selects Fintech Temenos to Enhance End-to-End Banking Experience

Cameroon Flag

Temenos (SIX: TEMN), a Switzerland-based banking software company,  announced on Thursday Cameroon-based financial services group Afriland First Bank has chosen Temenos T24 Core Banking platform to power its digital transformation journey. According to Temenos, the bank has opted for a complete IT renovation using Temenos… Read More

Pan African banking group Ecobank Announces Winners of 2018 Fintech Challenge

Pan African banking group Ecobank announced on Friday the winners of the 2018 Ecobank Fintech Challenge. As previously reported, the Challenge’s contestants must be one of the following categories: Remittances Digital Sales/Marketing Offline mobile to mobile payments Digital Onboarding/ Account Opening/ KYC SME Intra-Africa Trade Platform Multi-Channel… Read More

WorldRemit Launches Digital Money Transfer Services Within Africa

International money transfer service WorldRemit announced on Tuesday it is launching a new digital service within Africa. According to WorldRemit, the service will make it easier to send and receive money across the continent and will also reduce the cost of sending money across borders. WorldRemit… Read More

African Fintech PayStack Secures $8 Million Through Series A Funding Round Led By Stripe

Paystack, an Africa-based payments platform, secured $8 million through its Series A funding round, which was led by Stripe, with participation from Visa, Tencent and Y Combinator. Founded in 2015, Paystack states that it helps Nigerian businesses accept Mastercard, Visa, and Verve cards from anyone, anywhere… Read More

UK Fintech Azimo Joins Prime Minister’s Delegation to Africa

Azimo, a digital money transfer service based in London and Krakow, is set to join Theresa May’s official delegation to Africa – her first official visit to the continent. Azimo is one of 29 companies selected, and the only Fintech, for the visit to Nigeria,… Read More

P2P Lender Lendable Receives Dutch Development Bank FMO Convertible Grant

Kenyan-based Fintech platform Lendable has been extended a convertible grant from Dutch Development Bank FMO to provide a “first loss” backstop.  The $450K convertible grant, provided by the Dutch government’s FMO managed MASSIF fund, aims to reach targeted end-beneficiaries through financing local financial intermediaries and institutions that… Read More

African States Largely Paralyzed About How to Regulate Crypto, Says New Report

A new report from Togo-based Ecobank says that, like regulators elsewhere, African regulators are confused about technical, political, and economic ramifications of cryptocurrencies and are largely taking a “wait-and-see” approach to regulating crypto sectors and activity there. The report, “Cryptocurrency Regulation in Africa,” published August… Read More

Pan African Bank Ecobank Announces Ecobank Fintech Challenge 2018 Finalists

Pan African banking group Ecobank announced on Wednesday the finalists for of the Ecobank Fintech Challenge 2018, a competition for Africa-focused technology start-ups. The bank confirmed the list includes 11 fintech start-ups from across the continent and beyond. As previously reported, the Challenge’s contestants must be one… Read More

Startupbootcamp Announces 10 African Startups Selected For AfriTech Global Accelerator Program

Startupbootcamp (SBC) AfriTech announced last week the Top 10 African Innovators selected to participate in the globally renowned, multi-corporate backed accelerator program for 2018. According to SBC, following an intensive 3-month global scouting tour, across 15 countries, and inclusive of 19 FastTrack events and 220… Read More

WorldRemit Collaborates With Nigeria’s First Bank For Digital Money Transfers

International money transfer service WorldRemit announced on Tuesday it has formed a new partnership with First Bank of Nigeria Limited (First Bank) for instant money transfers to all First Bank accounts in Nigeria. According to WorldRemit, the collaboration considerably expands WorldRemit’s footprint in the country and allows… Read More

African Ecobank Mobile App Has Been Downloaded More than 5 Million Times

Ecobank, out of Lomé, Togo, recently received an award as being recognized as the best retail bank in Africa due to its advances in providing a digital platform for its users. The Ecobank Mobil App has now been downloaded by more than 5 million people, according… Read More

African Digital Payments Platform Cellulant Raises $47.5 Million Through Series C Funding Round Led By TPG Growth’s The Rise Fund

Cellulant, an Africa-based digital payments platform, announced on Tuesday it raised $47.5 million through its Series C funding round, which was led by TPG Growth’s The Rise Fund. Other investors included in the round are Endeavor Catalyst, Satya Capital, Velocity Capital & Progression Africa.  Founded… Read More

Swarm Fund Lists FarmCoin Venture: Providing Investment Opportunity to Support Africa’s Unbanked

Swarm, a blockchain for private equity, has opened an investment opportunity in the FarmCoin pan-African financial and commodities ecosystem via its marketplace. This will give investors not only a unique investment opportunity in one of the prime “unbanked” global markets, but also the chance to… Read More

Mastercard Teams Up With Unilever to Launch Digital Lending Platform For Kenyan Entrepreneurs

On Tuesday, Mastercard announced it was extended its strategic partnership with Unilever to launch a new digital lending platform specifically for Kenyan entrepreneurs. While sharing details about the platform, Ajay Banga, President and CEO of Mastercard, stated: “Micro and small businesses are the economic backbone of… Read More

Pan African Bank Ecobank Opens Applications for Second Annual Ecobank Fintech Challenge

Pan African bank Ecobank announced earlier this week it is seeking fintech solution startups to apply for its second annual Ecobank Fintech Challenge. According to the bank, more than 850 applied for the competition during its first challenge last year. Entrepreneurs, startups, and developers who are… Read More

DFS Lab Accelerator Announces New Investments in African & Asian Fintech Startups

Digital Financial Services Lab (DFS Lab), a fintech accelerator funded by the Bill and Melinda Gates Foundation,  announced on Thursday it will invest $200,000 in four separate startups that are building financial service products for low-income and unbanked consumers in developing markets. Cherehani Africa (Kenya), NALA (US), Nobuntu (South… Read More

Visa Launches $50,000 Fintech Innovative Contest For Sub-Sahara Africa Startups

Fintech

Credit card giant Visa is set to launch a new $50,000 innovation contest in the fintech industry of Sub-Sahara Africa. This news comes just a few months after Visa announced the launch of its fintech bootcamps for African startups. The contest will run under the company’s… Read More

Bahrain FinTech Bay Opens: Announces Startups & Founding Partners

Last week, the Middle East and African fintech hub, Bahrain FinTech Bay, announced it is now officially open for business. Along with its opening, it also announced startups and founding partners. Bahrain FinTech Bay claims it is the region’s largest fintech and is aiming to… Read More

PayJoy Teams Up With Allied Mobile to Bring More Smartphones to Africans

PayJoy, a San Francisco fintech startup, announced on Friday it has teamed up with mobile distributor Allied Mobile to bring affordable smartphone payment plans to markets across the continent of Africa. According to the duo, Allied Mobile will use PayJoy Checkout, an instant paperless finance… Read More

Ecobank: African Fintech Predicted to Grow Exponentially by 2020

Millions of Africans now have access to financial systems thanks to cashless systems using digital technology; consequently, more and more people are seeing the benefits of mobile banking, according to Ecobank, a leading independent pan-African banking group. Ecobank, the main sponsor at the Africa Tech summit… Read More

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