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MEA Fintech Weekly News: Are Neobanks the Next Big Thing for Nigeria?

This week marked a new win for digital banks in Nigeria. Neobank Sparkle raised US$3.1 million in a seed round

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Sudan’s alsoug Raises US$5m for National Payments Network

Sudan-based ecommerce platform alsoug has closed a US$5 million (SDG 2.2 billion) fundraise, according to an announcement. The company is

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5 Out of 7 Tech Unicorns in Africa Come From Fintech

Africa is seeing a rush of funding for its fintech sector, and some companies have already emerged as the continent’s

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Nigerian Open Banking Startup Mono Picks Up US$15m Series A

Lagos-headquartered open banking startup Mono has raised US$15 million in a Series A. The round was led by Flutterwave’s backer

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MEA Fintech Weekly News: Nigeria to Closely Scrutinise Fintech Startups

In last week’s MEA fintech news, the Central Bank of Nigeria (CBN) has once again hinted that it will be

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MEA Fintech Weekly News: The Case for Mobile Money in Sub-Saharan Africa

In last week’s MEA fintech news, mobile money took centre stage once again in the African continent. Meanwhile, UAE sees

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Nigeria’s Verto Secures US$10m Series A

Verto, a Nigeria-based B2B payments startup,  has raised US$10 million in a Series A round of funding according to reports.

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Report: Africa’s Top Fintech Hubs Are Also Its Most Regulated

The development of Africa’s top fintech hubs is closely connected with how robust its regulatory landscape is, a new report

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YO-Uganda Forms Partnership With USADF to Deploy Mastercard Farmer Network

Yo-Uganda Limited (“Yo!”), a 16-year-old leading financial technology solutions provider based in Kampala, Uganda, has announced a new grant partnership

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Egyptian Banks Launch EGP 1 Billion Egypt Fintech Fund

Three Egyptian banks will be launching an Egypt fintech fund of EGP 1 billion (US$63.6 million) to support fintech companies

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African Crypto Exchange Raises US$15M From Square, Coinbase and More

Cryptocurrency exchange Yellow Card, which has a pan-African presence, has secured US$15 million in a Series A round. This is

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MEA Fintech Weekly News: Dubai Gets Regulatory Nod for Crypto Trading

In last week’s MEA fintech news, it’s all eyes on crypto trading in the UAE – approvals for crypto trading

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Nigeria’s Infibranches Raises US$2m From Shell-Backed Impact Firm

Nigeria-based energy distribution and collection fintech startup Infibranches Technologies has secured US$2 million in a funding round raised from All

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Egypt-Focused dopay Raises US$18 Million Series A

Egypt-focused B2B2C payments platform dopay has secured US$18 million in a Series A funding round, the company announced in a

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Thunes and M-Pesa Tanzania to Boost Cross-Border Payments in East Africa

Global cross-border payments company Thunes has announced a partnership with M-Pesa Tanzania to launch a new service corridor, a statement

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MEA Fintech Weekly News: Melio’s Valuation Soars After US$250M Funding

In last week’s MEA fintech news, we saw US-Israeli fintech startup Melio raise a quarter billion dollars at a hefty

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Egypt’s Kashat Raises US$1.75m for Micro Lending App

Kashat, an Egyptian micro loan solutions provider, has raised US$1.75 million in a new bridge funding round, Magnitt reported. The

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Africa Fintech Weekly News Digest: Funding Receives US$1B Boost, While Flutterwave Dominates Headlines

Funding rounds made a splash in Africa fintech news last week. African fintech startups Wave, Pezesha and Prospa all raised

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4 CBDC Projects in Africa You Need to Know

Central bank digital currencies, or CBDCs, are not a new concept to Africa. Multiple CBDC projects in Africa currently exist,

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Nigeria’s Prospa Raises US$3.8m in Oversubscribed Seed Round

SME banking fintech Prospa has raised US$3.8 million in the largest pre-seed round to have been raised by a Nigerian

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Egyptian Super App MNT-Halan Bags US$120m

Egyptian financial and logistics super app MNT-Halan has secured US$120 million from private equity and venture capital investors, the company

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Kenya SME Lender Pezesha Raises Seven-Figure Seed Extension

Kenyan fintech startup Pezesha has secured a seven-figure seed extension round led by GreenHouse Capital (GHC). The round also included

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Mobile Money Startup Wave Turns Unicorn With US$200M Raise

U.S. and Senegal-based mobile money provider Wave has raised a substantial US$200 million in a Series A fundraise, TechCrunch reported.

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Your Weekly Africa Fintech News Digest 30.Aug- 6.Sept

In last week’s Africa fintech news, Australian BNPL firm Zip broadened its global expansion plans with the acquisition of South

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Mobile Money Fintech pawaPay Hauls US$9 Million Seed Funding

London-based payments company pawaPay, which focuses on the Africa market, has raised US$9 million in a seed round, according to

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SoftBank’s US$400 Million Africa Bet: Your Weekly Africa Fintech News Digest

In the biggest headline of Africa fintech news last week, Nigerian mobile payments platform OPay raised a staggering US$400 million

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Ethiopian Challenger Bank Seals Core Islamic Banking Deal With Path Solutions

Ethiopian challenger bank Hijra Bank has has awarded a core banking deal to Islamic banking provider Path Solutions, according to a

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Africa’s Newest Unicorn OPay Raises US$400 Million From SoftBank

Nigerian mobile payments platform OPay has raised US$400 million in funding from SoftBank, Bloomberg reported. The investment was made from

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8 African Startups Accepted Into 2021 GreenHouse Lab Fintech Accelerator

GreenHouse Lab has inducted eight African fintech companies into the 2021 GHL Fintech Accelerator program. GreenHouse Lab (GHL) is the

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Frozen Bank Accounts and Leaked Bills: Your Weekly Africa Fintech News Digest

Last week was a big one for Africa fintech news, especially in Nigeria. The country’s fintech sector made it to

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Salt Telco’s Fintech Arm Tackles Micro Lending in Africa—And Potentially Europe

Peer to Peer (P2P) Lending Market is projected to grow at a CAGR of 51.5% from 2016 to 2022, to reach

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10 Top Fintech Startups in Egypt to Keep an Eye On

As one of the most populous countries in the Middle East topped with a large unbanked population Egypt is fertile

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Why Are 80% of Central Banks Looking into Digital Currencies?

In 2019, 80% of central banks were engaged in work related to central bank digital currency (CBDC), compared with 70%

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Why Egypt’s Fintech Boom is Inevitable

Here are a few facts about Egypt. The country is home to 100 million people, making it the most populous

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10 Insurtech Game Changers

Insurtechs enable insurance carriers to innovate much faster than they do today. Their innovative solutions dramatically improve the primary process

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Fintech to Solve Financial Exclusion in Egypt

In Egypt, fintech is set to play a key role in providing basic financial services to the large pool of

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Fintech In South Africa: A Quick Overview

Market demand for innovative products and services has been pushing fintech innovation in South Africa. In respond to the rapid

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Egypt’s Central Bank Announces an EGP 1 Bil Fintech Fund and Regulatory Sandbox

The Central Bank of Egypt (CBE) will establish an EGP 1 billion innovations support fund to finance Egypt’s fintech startups—called

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Egypt’s new national card meeza Accepted now on PayFort’s Payment Gateway

PayFort, an Amazon company, has announced that merchants using its online payment gateway will now be able to accept payments

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