Fintech News Africa
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World Bank’s IFC Launches New Venture Capital Platform to Invest in Tech Startups
The International Finance Corporation (IFC) has launched a new US$225 million venture capital platform to invest in early stage companies
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African Fintech Sector Attracts More Funding
The African fintech sector is gaining interest from global investors. Recently, Algerian super app Yassir announced that it had raised
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Hibret Bank Launches E-Commerce Digital Payments Solution With Mastercard
Ethiopia’s Hibret Bank has partnered with Mastercard to launch Hibir e-commerce, a digital payments platform for Ethiopian businesses to accept
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Vodacom, Alipay to Launch Financial Services App VodaPay in Egypt
South Africa’s Vodacom Group is planning to launch its Alipay-enabled financial services app VodaPay in Egypt, according to a Bloomberg
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MFS Africa Partners Ripple to Enhance Its Real-Time Mobile Payments
Mobile money company MFS Africa has partnered with crypto solutions provider Ripple to streamline real-time mobile payments for its customers
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Blnk Raises US$32M Led by Abu Dhabi’s EIIC and Sawari Ventures
Egyptian consumer credit platform Blnk has raised US$23.7 million in equity and debt funding, and US$8.3 million in securitised bond
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Algerian Super App Yassir Raises $150 Million in Series B Funding
Yassir, a multi-sided marketplace offering on-demand services such as ride hailing, food and grocery delivery and banking, announced that it
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Nigeria’s Touch and Pay Wins the Ecobank Fintech Challenge 2022
Nigerian fintech Touch and Pay has won the 2022 edition of the Ecobank Fintech Challenge and with it a US$50,000
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Central Bank of Eswatini Partners With G+D to Develop Its Digital Currency
The Central Bank of Eswatini has partnered with German payments company Giesecke+Devrient (G+D) to research and explore the development of
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Standard Chartered-Backed Solv Launches Its B2B Marketplace in Kenya
B2B marketplace Solv has launched in Kenya to enable micro, small and medium enterprises (MSMEs) to access credit, e-commerce and
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Meet the 6 Fintech Startups Competing in the Ecobank Fintech Challenge 2022 Finals
African banking group Ecobank Group has announced the six finalists for the fifth edition of the Ecobank Fintech Challenge, chosen
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Here are the Top 5 Fintech Startup Funding Rounds in Nigeria
Nigeria is home to the largest number of startups and startup funding rounds in the last decade in Africa with
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Glo’s MoneyMaster PSB Launches Digital Financial Services Platform G-Kala
Nigerian telco Globacom, commonly known as Glo, has officially launched its new mobile payments and banking business MoneyMaster Payment Service
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Uganda’s Numida Raises US$12.3M Pre-Series A Led By Serena Williams’ VC Firm
Uganda digital lending platform Numida has raised a US$12.3 million pre-Series A funding round led by Serena Williams’ venture firm
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5 African Fintech Startups on CB Insights’ Fintech 250 Most Promising List
Five African fintech startups made this year’s Fintech 250, CB Insights’ annual list of the 250 most promising private fintech
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ProvidusBank Launches Tap-to-Pay Service With Mastercard, Interswitch and Thales
Nigerian financial services company ProvidusBank has partnered with Mastercard, African payments infrastructure provider Interswitch, and French technology company Thales Group
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Biometric Identity Verification Startup iiDENTIFii Raises US$15M Series A
Identity verification platform iiDENTIFii has raised a US$15 million Series A funding round led by African investment company Arise, with
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Top 8 Most Well-Funded Fintechs in Africa
Africa’s fintech sector is booming, fueled by soaring venture capital (VC) funding activity, rising adoption of digital financial services among
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B2B Payments Platform Julaya Raises Additional US$5M Led By Speedinvest
Ivory Coast-based payments company Julaya has raised a US$5 million extension round led by European venture capital fund Speedinvest to
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10 Companies Awarded Kenya’s First Digital Credit Provider Licenses
The Central Bank of Kenya (CBK) announced that it has awarded licenses to 10 digital credit providers out of the
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Clickatell Enables Nigerians to Access eNaira Services Even Without Mobile Data
Chat commerce platform Clickatell has partnered with the Central Bank of Nigeria (CBN) to launch a USSD channel for the
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Crypto Platform Yellow Card Secures US$40M Series B Led By Polychain Capital
African cryptocurrency platform Yellow Card Financial has raised US$40 million in Series B funding led by Polychain Capital. Other investors
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Brazil’s EBANX to Expand Payments Solutions to South Africa, Kenya and Nigeria
Brazilian payments company EBANX announced plans to expand its operations and payments solutions outside Latin America for the first time
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Flutterwave Merchants Can Now Accept Payments in Digital Currency eNaira
Flutterwave merchants can now process payments in eNaira, the Nigerian digital currency issued and distributed by the Central Bank of
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McKinsey Fintech Africa Report: Ghana, Francophone West Africa Among Fastest Growing Markets
African fintech companies have made significant inroads into the market over these past couple of years, with revenues reaching US$4
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African Unicorn Flutterwave Awarded Switching and Processing License in Nigeria
Payments company Flutterwave has been granted a Switching and Processing License by the Central Bank of Nigeria (CBN). The switching
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Central Bank of Nigeria Flags Off Second Phase of the eNaira Project
Central Bank of Nigeria’s (CBN) governor Godwin Emefiele says the second phase of the eNaira project has begun and is
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Ecobank Group Launches 2022 Edition of Its Africa Fintech Challenge
Fintech Challenge offers early stage and mature start-ups the potential to partner with Ecobank across 33 African countries; Applications open until
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Bank of Ghana Introduces Regulatory Fintech Sandbox
Following a successful pilot implementation, Bank of Ghana launched now its Regulatory and Innovation Sandbox developed in collaboration with EMTECH
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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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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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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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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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