Posts From Fintechnews Africa

TradeDepot Secures US$110m to Scale BNPL Service to Retail SMEs

B2B ecommerce and embedded finance platform TradeDepot has raised US$110 million in a Series B equity and debt funding round. The International Finance Corporation (IFC) led the Series B. Participating investors included Novastar, Sahel Capital, CDC Group, and Endeavor Catalyst.

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Fintech Digest: Saudi Arabia’s Fintech Space Grows With 16 New Licenses

Saudi Arabia’s fintech sector has broadened, with licenses issued to 16 new fintech companies during the third quarter of this year (Zawya). According to the Saudi Central Bank governor, 13 of these companies come from the payments and electronic wallets

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7 Africa-Based Crypto Exchanges You Should Know

As good news for Africa-based crypto exchanges, crypto has emerged as one of the top fintech trends across Africa this year despite wide regulatory disapproval of the trading of these currencies. Kenya, Nigeria, Togo, South Africa, Ghana, Tanzania emerged as

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Tanzanian Fintechs Struggle With Unclear Regulation, Limited Funding, Lack of Talent

Although the fintech ecosystem in Tanzania has developed rapidly over the past decade, it remains nevertheless small and nascent with just 33 pure fintech players identified. Out of these companies, only 36% have managed to secure seed funding or growth

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Tanzania to Soon Have a Central Bank Digital Currency

The Bank of Tanzania, the country’s central bank, has announced plans to introduce its central bank digital currency, Bloomberg reported. The central bank is looking to bolster the capacity of its officials on central bank digital currencies, as well as

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Fintech Digest: 90% Of Nigeria’s Startup Funding Came From Fintech

Nigeria’s startup funding reached approximately US$417.5 million in nine months, and a lion’s share of this came from fintech (Punch). The funding total already beats the US$300 million these companies raised last year (fintech companies dominated Nigeria’s startup funding in

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Investor Appetite Strong for Seed Stage Fintech and Crypto Deals in Africa

In today’s funding update, a crypto exchange, a fintech API platform and an MSME lender have raised seven-figure investment rounds across pre-seed and seed stage deals in Africa. The deals indicate that very early stage deals remain popular for fintech

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FSD Africa to Launch BimaLab Insurtech Accelerator in Ghana and Nigeria

Specialist development agency Financial Sector Deepening (FSD) Africa is set to be launching its insurtech accelerator program in Ghana and Nigeria in 2022. The agency will be launching its BimaLab Insurtech Accelerator Program in the two West African countries next

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6 Biggest African Fintech Hubs Take the Spotlight

African fintech hubs have grown rapidly in the past few years, leading to pockets of fintech development across the continent. According to Findexable’s Global Fintech Rankings Report, 14 of the top Middle East and African fintech hubs came from the

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These 8 African Fintech Companies Raised US$100m+ This Year

African fintech companies have had a year like no other when it comes to funding. Between Q1 and Q3 this year, African fintech companies raised US$1.44 billion in funding dollars. The funding total surpassed the entire amount raised by these

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