Tagged: africa

July 7, 2019 @ 6:01 pm By Cali Haan  |  

African technology journalist Andile Masuku has written that corruption around remittances in Africa is so bad, “I have become numb to the daylight robbery that ensues whenever I receive money from abroad or send cash to my family back home.” Masuku cites figures from the World… Read More

April 25, 2019 @ 4:40 am By Erin Hobey  |  

Fairafric produces certified organic chocolate, from bean to bar in Ghana. Chocolate, with its reported per capita consumption of approximately 5kg per year in most of Europe, is ready for disruption and more ethical production. Kickstarter alum Fairafric aims to increase income per bar five-fold and create… Read More

April 8, 2019 @ 7:39 am By Samantha Hurst  |  

Standard Chartered Bank announced on Monday it has officially opened its Africa eXellerator Innovation Hub in Kenya. According to the digital bank, the innovation hub will serve asa platform to collaborated with fintechs in Kenya, as well as the broader African region to drive innovation… Read More

January 31, 2019 @ 9:04 pm By Samantha Hurst  |  

Standard Chartered Bank announced on Thursday it has rolled out the second wave of its digital-only retail banks across four African markets. Standard Chartered reported it will launch its digital solution in four key markets during the first quarter of 2019 starting in Uganda in January,… Read More

December 30, 2018 @ 10:51 am By Cali Haan  |  

Owners of a peer-to-peer Bitcoin trading app called Paxful says Africans are conducting 17 000 bitcoin trades per day using the service, and that the majority of the trades involve exchanging bitcoins for gift cards from Amazon and iTunes, according to a recent blog post… Read More

November 30, 2018 @ 9:20 pm By Samantha Hurst  |  

The Mauritius Africa Fintech, an organization based in Port Louis, announced on Friday its new hub is currently set to open this December. According to the not-for-profit, the hub is being supported by the Mauritian government, regulatory authorities and financial service providers, both big and… Read More

November 1, 2018 @ 7:41 am By JD Alois  |  

The Luxembourg House of Fintech (LHoFT) is launching a new initiative which focuses on Fintech companies in Africa seeking to boost financial inclusion. “Catapult – Inclusion Africa” is described as a Fintech tool to provide access to financial services to the under banked or those… Read More

October 30, 2018 @ 4:00 am By JD Alois  |  

GTR Ventures, an investment company that specializes in trade and supply chain, has announced an investment in Orbitt – an African focused Fintech deals platform. This is GTR’s first Africa focused investment. Orbitt is based in London with operations in Mauritius and a user-base across 28… Read More

September 27, 2018 @ 8:05 am By Samantha Hurst  |  

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

September 7, 2018 @ 11:38 pm By Samantha Hurst  |  

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

September 4, 2018 @ 11:52 am By Samantha Hurst  |  

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

August 28, 2018 @ 3:13 pm By Samantha Hurst  |  

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

August 27, 2018 @ 6:57 am By JD Alois  |  

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

August 23, 2018 @ 7:03 am By Erin Hobey  |  

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

August 13, 2018 @ 1:05 am By Cali Haan  |  

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

August 8, 2018 @ 9:49 am By Samantha Hurst  |  

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

July 20, 2018 @ 3:00 pm By Samantha Hurst  |  

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

June 5, 2018 @ 9:44 am By Samantha Hurst  |  

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

May 28, 2018 @ 10:16 am By JD Alois  |  

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

May 15, 2018 @ 4:12 pm By Samantha Hurst  |  

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