Fintech
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News
Tanzania’s fintech NALA has expanded to 19 European countries
NALA, a Tanzanian fintech startup known for its remittance services to Africa has expanded to 19 more European countries. The…
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News
Africa’s Mobility Financing Startup Moove Raises $30 Million
African mobility fintech startup Moove has raised $30 million just a few months after raising $18.4 million to scale its…
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News
IDORENYIN OBONG: Five financial planning tips for African freelancers and gig workers
The global pandemic has accelerated the pace of change, causing significant disruption across labour markets and forever changing how we…
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News
Nigerian fintech Chipper Cash is the latest company to conduct massive layoffs
Nigerian cross-border payments startup Chipper Cash has laid off nearly 13% of its workforce, reports indicate. Many employees from various…
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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
Asset Recovery Agency drops fraud charges against Nigerian fintech Kora
Kenya’s Asset Recovery Agency (ARA) has dropped fraud charges against Nigerian fintech Kora. The startup was in July accused of…
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News
ANNALISA PLACHESI: Why NGOs should embrace the digitisation of payments and collections
Digital payments have fundamentally transformed lives across Africa by providing access to financial infrastructure and enabling innovation. More jobs have…
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News
Data firm Periculum launches Utambuzi, a personal financial management tool
Periculum, a data analytics firm that uses machine learning to provide real-time solutions to individuals and organizations has introduced Utambuzi,…
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News
Fintech startup Hisa unveils real-time online stocks trading platform
Fintech startup Hisa has launched an application that allows Kenyans to invest in the stock market directly from their phones…
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News
Online fraudsters using sophisticated software to access digital loans, JuicyScore
Cases of fraudsters illegally accessing digital loans from fintech platforms in Africa have been on the rise over the last…
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News
Safaricom M-PESA Go for juniors explained
M-Pesa Go: A number of banks in Kenya offer what they call special kids savings accounts that enable young children…
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News
Visa to pilot Pay with Your Face payment solution at FIFA World Cup in Qatar
Payments technology company Visa is piloting a Pay with Your Face payments solution at the FIFA World Cup Qatar 2022…
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News
Nigerian Fintech Kuda Wants To Make Remittance From UK To Africa Cheaper
As remittances to Africa increase, several firms are finding ways to make it easier, cheaper and more convenient to send…
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Startups
Kenyan fintech Hisa among 9 African startups selected for the second batch of €7.5 million Startup Wise Guys fund
Kenyan fintech Hisa is among the nine African startups selected for the €7.5 million Startup Wise Guys fund. Selected…
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New Appointments
Judy Waruiru appointed as Managing Director for digital payments firm DPO Africa
African digital payments company DPO has announced the appointment of Judy Waruiru as Managing Director for Africa effective in January…
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News
Quona Capital to invest $332M in fintech startups from emerging markets focusing on financial inclusion
Emerging markets venture capital firm Quona Capital today announced the final close of $332 million for its Fund III, significantly exceeding…
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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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Startups
Nigeria’s Payhippo acquires Maritime Microfinance Bank to expand its customer offerings
Payhippo, a fintech that offers credit facilities to SMEs in Nigeria has acquired Maritime Microfinance Bank (MFB). MFB is a…
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News
Mara launches crypto wallet for sub-Saharan Africa
Mara Group, the pan-African technology firm building phones and applications for various use cases in the continent has launched Mara…
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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
Face scan account opening a big hit with Bank of Kigali customers
Bank of Kigali (BK) says it has recorded increased uptake of its mobile banking services following the launch of new…
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News
Mastercard and Cellulant announce digital commerce payments partnership
Mastercard and Cellulant have partnered to allow Cellulant customers across Africa to shop and pay online with global merchants wherever…
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News
Flourish Ventures launches Madica, an Africa-focused program to invest in pre-seed stage startups
Flourish Ventures, a global fintech venture capital firm has launched Madica, an investment program for pre-seed stage technology startups in…
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News
StanChart’s Solv Kenya Launches Credit Platform for Kenyan MSMEs
Solv Kenya, a B2B platform owned by Standard Chartered bank has officially launched in Kenya, aiming to make an impact…
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News
Flutterwave Appoints Former JP Morgan Chase Executive as Senior Advisor
Nigerian money transfer company Flutterwave has appointed Marshall Lux as a senior advisor. Marshall is a former Chief Risk Officer…
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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
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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Startups
Auto Financing startup Moove raises £15 million financing to scale UK operations
Moove, a mobility fintech startup providing auto financing for gig economy drivers has raised £15 million in financing to scale…
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News
EzyAgric and Pezesha launch Buy Now Pay Later services for Ugandan agro-dealers
Kenyan fintech Pezesha has partnered with EzyAgric to launch a buy-now-pay-later (BNPL) scheme for agro-dealers all over Uganda. EzyAgric has…
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News
African tech startups have so far raised $2.7bn in funding this year, report
A report by pan-African tech publication Disrupt Africa has revealed that African tech startups raised $2.7bn in funding in the…
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News
Hisa among 7 Kenyan tech startups selected for MEST Africa Challenge 2022
Kenyan fintech Hisa Inc is among the 36 African startups selected for the 2022 MEST Africa Challenge. The mobile investment…
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News
Kenyans in the diaspora can now pay bills on M-PESA via NALA Money
Tanzanian fintech startup NALA which was launched in 2018 to enable Africans in the diaspora easily send money home has…
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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
South African fintech JUMO launches Vela asset management engine
South African fintech JUMO has launched Vela, an asset management engine built to give investors access to real social impact…
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Startups
HAVAÍC completes its third investment in Kenyan FinTech Tanda
Cape Town-headquartered venture capital (VC) firm HAVAÍC has completed its third investment in Kenyan FinTech Tanda. The investment from the…
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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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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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News
Flutterwave adds Google Pay as a payment option for African businesses
Nigerian fintech Flutterwave is adding Google Pay, a mobile payment service, developed by Google, as a payment method. As part…
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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
Nigerian fintech Kippa has raised $8.4 million seed round
Nigerian fintech startup Kippa has raised $8.4 million in an oversubscribed seed round. This round of funding was led by…
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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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News
Nigeria’s blockchain startup Bitmama has raised $2 million to scale across Africa
Bitmama is a Nigerian blockchain company that aims to democratize the payment system across the continent. The startup has remote…
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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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News
Kenyan Court Freezes Another Sh400.6 Million Belonging to Flutterwave
Nigerian fintech Flutterwave is once again in the Kenyan courts for the wrong reasons. Early Tuesday, the High Court of…
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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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BUSINESS
CBK grants digital payments provider DPO Group a PSP license to operate in Kenya
African digital payments provider DPO Group Kenya has received official approval from the Central Bank of Kenya to operate as…
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News
Google has pulled down more than 2,000 loan apps from Play Store in India
Google says that it pulled more than 2,000 personal loan apps from Play Store in India for what the company…
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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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News
Flutterwave’s New Chief People and Culture Officer Mansi Babyloni Empowers Young Africans with Tech Skills
Nigerian fintech company, Flutterwave, has appointed Mansi Babyloni as the new Chief People and Culture Officer. This was contained in…
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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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Interviews
[Interview] Africa is central to our long-term growth strategy, says Visa CEO
AI Kelly is the Chairman and CEO of the global payments firm Visa. He joined Visa in October 2016 as Chief Executive Officer and…
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News
Applications for the 5th edition of Catapult: Inclusion Africa Programme open
The LHoFT Foundation has opened applications for the 5th edition of the CATAPULT: Inclusion Africa which will be delivered in Luxembourg.…
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Startups
Nigerian Startup Klasha Appoints Ayman Jawhar as New Chief Product Officer
Lagos and San Francisco-based Klasha has appointed Ayman Jawhar as its new Chief Product Officer. Ayman will be based in the United…
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Startups
VC Firm HAVAÍC announces $500K investment in FinAccess to grow across Africa
Cape Town-headquartered venture capital (VC) firm HAVAÍC has announced a $500,000 investment in FinAccess. The investment has been allocated from…
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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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News
CBK Governor Says Flutterwave is Not Licensed To Operate In Kenya
The Governor of the Central Bank Of Kenya (CBK), Dr Patrick Njoroge has said that fintech companies Flutterwave and Chipper…
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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
Technology and innovation at the core of Equity Bank’s success
Africa is undergoing a season of rapid growth, characterized by innovative ideas that are crafting solutions to local problems. This…
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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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BUSINESS
Airtel Kenya splits its mobile money business into a separate entity
The financial sector is undergoing a season of massive disruption occasioned by aggressive innovation. Offering financial services is no longer…
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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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Startups
Kenyan Court Freezes Flutterwave’s Bank Accounts Over Money Laundering Allegations
Nigerian unicorn fintech Flutterwave has lately been in the news for both good and bad reasons, but the unflattering reasons…
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News
Flutterwave appoints ex-Goldman Sachs MD Gurbhej Dhillon as new CTO
Flutterwave has announced the appointment of former Goldman Sachs’ Managing Director, Gurbhej Dhillon as its Chief Technology Officer (CTO). As…
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Startups
Nigeria’s open banking startup Mono launches in Kenya
Mono, a Nigerian fintech startup has announced that it is expanding its services to Kenya. Mono builds an open banking…
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24BIt
[24Bit Podcast] Our Experiences Using The New M-Pesa VISA Virtual Card
Listen in on Emmanuel Chenze, Dickson Otieno and Nick Kanali as we discuss our personal experiences with the recently launched…
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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
Kenyan Online Accounting firm Odibooks Launches Management platform for SMEs.
Kenyan fintech startup Odibooks has launched a management and accounting platform that SMEs can use to automate their processes. Odibook…
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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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News
Fintech platform Nomanini launches app to connect FMCGs and financial service providers in Africa
Fintech platform Nomanini has today announced the launch of a new app that connects FMCGs and financial service providers to serve…
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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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Startups
New App To Automatically Supervise Spending For Dependents Launched
Kenyan startup Empower Smart Limited has launched an automated Digital Escrow Supervised Payments app for Dependents. Dubbed “Super Pay” the…
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News
46% of SMEs in EEMEA earning more money than before the pandemic, Mastercard report
Data from Mastercard’s 2022 Borderless Payments Report has revealed two in five (46%) small and medium-sized businesses (SMEs) in Eastern…
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News
Nigerian fintech firm VeendHQ secures $330k pre-seed investment
Nigerian fintech firm VeendHQ has secured $330k pre-seed funding to expand its operations. Magic Fund, The Oak Capital, Future Africa, Berrywood…
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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
Tecno is launching a mobile wallet to rival M-Pesa and Airtel Money
TECNO Wallet: Chinese phone manufacturer Tecno Mobile came to Africa and gained grounding with its Africa-centric mobile devices. The company…
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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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News
MFS Africa acquires US-based fintech Global Technology Partners
Digital payments network MFS Africa has announced it has reached an agreement to buy US-based tech company Global Technology Partners…
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News
Ugandan fintech startup Eversend rebrands, announces new features
Eversend, a Ugandan fintech startup providing cross-border money transfers for Africans and Africans in the diaspora has rebranded. The startup…
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News
World Bank and PFG To Provide $30 million for Fintechs in Emerging Markets
The World Bank, through its global development institution the International Finance Corporation(IFC) and US-Based fund manager Partners for Growth (PFG)…
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News
Bitcoin Donation Used to Build New Schools, Libraries in South Africa
A generous donation of 1 BTC or one Bitcoin (Approx. $31,832.78,)has helped to build two new schools in Port Elizabeth,…
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Startups
Nigerian fintech startup Grey expands to Kenya to enable freelancers send and receive money from abroad
Over the last few years, there have been conversations around PayPal being unfriendly to its users, mainly freelancers in Africa.…
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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
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
Cairo Angels Injected Undisclosed Amount in Kenya’s FlexPay
Fintech startup FlexPay has raised an undisclosed amount of funding from Cairo Angels Syndicate Fund(CASF). The Kenyan firm operates an…
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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
Kenyan Fintech Hisa Joins NVIDIA Inception Programme
Hisa App, a Kenyan mobile investment platform that allows anyone in Kenya to invest in U.S. stocks and ETFs using…
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Startups
Egyptian Fintech Paymob raises $50M in Series B funding
The continued attention on African fintech startups is attracting unprecedented attention and investments from high-ranking venture capitalists. The latest such…
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BUSINESS
Customers twice as likely to recommend buy now pay later than banks, survey
South African customers who have used buy now, pay later to purchase goods would overwhelmingly recommend it as a payment…
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Startups
SA Remittance Fintech Mama Money Aims to offer Lowest Transfer Charges
Fintech startups in Africa are doing a spectacular job at revolutionizing remittances, accessibility, saving, and the whole culture surrounding finances.…
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Startups
Power and Turaco partner to provide affordable insurance for gig workers across Africa
Fintech startup Power Financial Wellness has joined forces with insurtech firm Turaco to offer affordable health insurance products to its…
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News
Tanzania’s fintech NALA partners with Cellulant for diaspora remittance
Tanzania-based fintech startup NALA has partnered with Pan-African payments company, Cellulant to power payments from the United Kingdom and the…
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News
Visa’s innovation studio in Kenya to offer virtual cards for local banks and fintechs
A couple of weeks ago, digital payments leader Visa opened its first African Innovation Studio in Kenya. The new studio…
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