financial services
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News
AI in Fintech Market to reach USD 70.1 billion by 2033
The fintech industry worldwide is witnessing unprecedented growth, driven by the integration of Artificial Intelligence (AI). According to market forecasts,…
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News
Unpacking The State of Fintech in Africa
The fintech sector in Africa has recorded rapid growth over the recent years to emerge as one of the most…
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News
Is Ethiopia Africa’s sleeping fintech giant?
The fintech sector has been one of Africa’s biggest technology success stories. According to one report, the continent’s 678 fintech startups…
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News
Continued growth of Africa’s FinTechs can unlock greater economic prosperity
Africa is one of the fastest growing FinTech markets with revenue forecasted to grow 13 fold to $65-billion by 2030.…
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News
[Interview] JuicyScore’s Mikhail Marchenko on why fintechs should invest in risk management solution
JuicyScore, a global leader in anti-fraud and risk management solutions entered the Kenyan market recently. The firm offers anti-fraud and…
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News
Mikhail Marchenko: Major fintech trends that will affect online businesses in 2023
Digitalization and technological achievements, which have been observed in the African region for the past decade, have sped up the…
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BUSINESS
KCB Group Completes Acquisition of DRC-based Trust Merchant Bank
KCB Group has announced the completion of the acquisition of Trust Merchant Bank SA (TMB) after receiving all the regulatory…
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News
Evolution of the microfinance sector in Kenya: How Kenyan online businesses can thrive
According to a McKinsey report, African financial services are now undergoing a structural shift. About 10 percent of all transactions…
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News
Fintech firm MFS Africa granted payments licenses to operate in Uganda
Financial services provider MFS Africa has been granted licenses to operate in Uganda as a PSP (Payment Service Provider), PSO…
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News
DTB launches a special account for women-owned SMEs
Diamond Trust Bank (DTB) has launched a unique account for women running Small and Medium Enterprises. Dubbed Zawadi, the account…
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News
Kenya, Nigeria and SA lead fintech growth in Africa, Mastercard report
A report by payment services company Mastercard has revealed that South Africa, Nigeria and Kenya are among the most vibrant…
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BUSINESS
Visa doubles down on wallets with Thunes in emerging markets
Visa is partnering with Thunes to help individuals and small businesses move money internationally to 78 digital wallet providers, reaching…
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News
Mastercard to bring crypto trading capabilities to banks
Mastercard has introduced a new program to enable financial institutions to bring secure crypto trading capabilities and services to their…
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News
15 Fintech startups selected for CATAPULT: Inclusion Africa 2022 program announced
LHoFT has announced the 15 fintech startups that have been selected to participate in the fifth edition of the CATAPULT: Inclusion…
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News
KCB and TerraPay partner to enhance cross-border remittances
KCB Bank Kenya customers will now be able to seamlessly receive funds from the diaspora to their accounts in Kenya,…
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News
MFS Africa selects ThetaRay to monitor transactions and screen for sanctions
Digital payments network MFS Africa has selected ThetaRay to protect its growing network of services against financial crimes. ThetaRay, a…
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News
Ugandan Digital Lender Numida Has Raised $12.3 Million in Pre-Series A Round
Ugandan fintech startup Numida has been in operation since 2017. The company has found its footing, offering customers loans ranging…
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News
Microsoft to support continuous transformation of Africa’s Financial Services Industry
Transforming the Financial Services landscape in Africa will be a critical driver of economic prosperity across the continent, a banking…
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BUSINESS
Fuliza restructured, here is everything you need to know
Kenya’s leading telco Safaricom, NCBA and KCB Bank Kenya have announced a restructuring of the popular Fuliza overdraft facility. Fuliza…
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BUSINESS
Unregulated digital lenders in Kenya directed to cease operations
Kenya is home to more than 200 digital lenders that are providing people with easy access to loans of various…
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News
CBK releases list of companies licensed to offer digital loans in Kenya
The Central Bank of Kenya (CBK) has released a list of companies licensed to operate as Digital Credit Providers (DCPs)…
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Startups
Brazilian fintech unicorn EBANX sets shop in Africa
Brazilian fintech unicorn EBANX is set to launch its operations in Africa as it seeks to expand its business outside…
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News
Jeremy Awori Joins Pan-African lender Ecobank as new CEO
After nearly a decade at the helm of Absa Bank, CEO and Managing Director Jeremy Awori will be leaving the…
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Startups
Nigerian fintech startup NowNow raises $13 million for expansion across Africa
Nigerian fintech startup NowNow Digital Systems has raised $13M seed round for expansion across Africa. The company was founded in…
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Startups
Digital banking app for African immigrants Waya officially launched
Waya, a digital banking app that seeks to make it easier for African immigrants to send money back home is…
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Startups
Kenya’s Fintech Pezesha Has Raised $11 Million to Expand Across Africa
Pezesha, a Kenyan fintech that has built a platform where small and medium enterprises can access funding has raised $11…
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Startups
Nigerian fintech Grey raises $2M to simplify cross-border payments across Africa
Grey, a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans, has raised $2 million…
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News
Ecobank Opens Applications for its 2022 Fintech Challenge for African Startups
Ecobank Group has launched the fifth edition of the Ecobank Fintech Challenge targeting African fintech startups. Selected startups stand a…
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BUSINESS
Tala Named Among 50 Disruptor Companies of 2022 by CNBC
Popular mobile loan company Tala has been named on the list of Disruptor Companies of 2022 by business-focused media house…
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Startups
CBK grants Virtual Pay International a PSP License to operate in Kenya
The Central Bank of Kenya (CBK) has granted Virtual Pay International Limited a license to operate as a Payment Service…
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News
American fintech UMBA acquires majority stake in Kenya’s Daraja Microfinance
UMBA, a U.S-based fintech whose investments spread to emerging markets has acquired a majority stake in Daraja, a Kenyan deposit-taking…
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News
Flutterwave responds to accusations of operating without a license in Kenya
After reports emerged that Nigerian fintech startup Flutterwave was operating without a license in Kenya, the company has sent out…
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BUSINESS
Absa Bank Kenya introduces online account opening platform
Absa Bank Kenya will spend nearly Ksh. 2 billion on upgrading its digital systems to improve customers’ banking experience. Among…
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Interviews
[Interview] Efayomi Carr: Embedded finance and its impact on financial inclusion
Efayomi Carr is a Principal at Flourish Ventures, a Global Fintech Venture Firm investing in fintech startups across the globe,…
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News
Tanzania’s fintech NALA enters Kenya, inks diaspora remittance deal with Equity Bank
Tanzania-based fintech startup NALA has partnered with Equity Bank Kenya for diaspora remittance. This partnership will allow Kenyans living in…
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News
Fintechs are set to transform cross-border payments in Africa, says Ukheshe Technologies
For centuries people have crossed borders to live, work, and trade. While cross-border payment systems are crucial for financial inclusion…
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News
Nigerian fintech startup founders jailed in the United States for money laundering
Nigerian-born, US-based founders of a money-remittance fintech Ping Express have been handed a 27-month sentence in the United States after…
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News
Kenyan fintech Kyanda takes its one-stop financial solutions to South Africa
Kyanda, a Kenyan fintech that facilitates payment of utilities and money transfers via an easy-to-use app has branched its operations…
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News
Pesapal granted Payment System Operator license in Uganda
Pesapal has received a Payment System Operator license from the Bank of Uganda to operate in the country. According to…
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News
PocketApp Secures AIP for Mobile Money Operator License in Nigeria
The Central Bank of Nigeria (CBN) has granted an Approval In Principle (AIP) to Abeg Technologies Limited, a product of Piggytech Global Limited,…
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BUSINESS
Fintech Company WorldRemit Ranks Kenya Among its Top 3 Markets In Africa
WorldRemit, a global money transfer company with a presence in over 130 countries has placed Kenya among its top 3…
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News
Flutterwave Has Appointed Former American Express Executive as New CFO
Flutterwave has announced the appointment of Oneal Bhambani as its new Chief Financial Officer (CFO) Bhambani joins the Nigerian fintech…
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News
Nigerian fintech startup Indicina raises $3m seed funding for Africa expansion
Nigerian fintech startup Indicina has raised $3 million in seed funding round to accelerate its expansion into other African markets.…
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Startups
This Nigerian fintech is simplifying banking for immigrants
Nigerian fintech startup Vesti is changing the way immigrants access banking services around the world. The company launched by two…
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News
Absa customers can now use KenSwitch ATMs across the country
Absa Bank has entered into an interoperability partnership that will allow customers to access a network of Kenswitch ATMs and…
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News
OPay and Mastercard partner to expand regional reach
OPay, a Nigerian fintech regarded as one of Africa’s most valuable fintech startups has entered into a strategic partnership with…
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News
Kenyan fintech Bamba raises $3.2m seed funding to scale
Kenyan fintech startup Bamba has secured $3.2m in seed funding to scale its app and build out its team. Venture capital…
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News
CcHUB, Google unveil 9 Startups selected for the Fintech Incubation Programme in Rwanda
Nigeria’s technology innovation centre Co-creation Hub (CcHUB) in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation…
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News
Infinix enters the fintech space, launches a digital wallet
Mobile device manufacturer Infinix has launched a digital wallet to be integrated into its devices. Known as the Infinix Wallet,…
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BUSINESS
Banks tipped on healthy competition with FinTechs
If banks are to adequately compete and address the challenge posed by the growing influence of fintechs into their space,…
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News
Mastercard and PesaLink sign MoU to drive payments sector digital transformation in Kenya
Integrated Payment Services Limited (IPSL) which runs the PesaLink payments ecosystem has signed a Memorandum of Understanding (MoU) with Mastercard…
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News
Payment service provider i2c partners with Visa for fintech processing in the MENA region
US-based payment service provider i2c Inc has announced a new partnership with Visa as a fintech processor in the MENA…
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BUSINESS
Fintech firm DPO Group announces new pan-African partnerships
Payment service provider DPO Group has announced three new partnerships with companies in the digital payments sector including Mastercard. The…
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Startups
Flutterwave goes live in Tanzania
African fintech Flutterwave has received approval from the Bank of Tanzania (BoT) to launch its payment service in the country.…
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Startups
[African Startup Review] Pie Kamau: Nigerian fintech Flutterwave is now Africa’s highest valued Unicorn
As the African fintech space continues to bloom, so does the funding. Flutterwave, the San Francisco-headquartered and Lagos-based company that…
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COLUMNS
The biggest fintech trends changing the face of payments in emerging markets
Last year saw an unprecedented rate of change in the financial sector, with huge growth in the use of digital…
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CLOUD
[Africa Cloud Review] Simon Ngunjiri: Cloud can help financial institutions improve customer experiences
The financial sector is one of those sectors that is benefiting massively from modern technologies like the cloud. The adoption…
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Startups
Fintech company Kwara launches Customer Success Traineeship Program for university graduates in Kenya
Kwara, a digital banking platform in Kenya today announced the launch of a Customer Success Traineeship Program targeting university graduates.…
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News
FinTech in South Africa: Accelerating the Digital Transformation of Banking & Financial Services
Ethico Live has announced the launch of Finnovation South Africa summit. The event will see participants from established banking powerhouses…
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BUSINESS
Digital credit scoring is paving the way to more affordable microloans in East Africa.
Fintech companies are using digital technology to score the creditworthiness of people in emerging markets, potentially enabling millions of people…
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