Africa’s digital financial services ecosystem has grown significantly over the past years, expanding from about 450 companies in 2022 to more than 1,000 companies by 2024, according to a 2024 report by the European Investment Bank. This expansion has been accompanied by increasing diversification across the sector, ranging from key services like payments, lending and remittances, to new high-growth areas including software solutions, wealthtech, insurtech and blockchain services. Africa’s fintech momentum has been fueled in part by a surge in venture capital (VC) investment. In 2022 alone, African fintech startups secured more than US$1.4 billion, marking a staggering 39.3% increase…

EBANX, a Brazilian technology company focused on payment solutions for emerging markets, has integrated Capitec Pay, South Africa’s leading open banking-based, real-time payment method. This is EBANX’s first open banking solution outside Brazil and makes it one of the first global PSPs to offer Capitec Pay for cross-border e-commerce. Capitec Pay, developed by Capitec Bank, is South Africa’s first large-scale open banking account-to-account (A2A) payment system. Through EBANX, international merchants in online retail, subscriptions, streaming, gaming and SaaS can now offer this payment option to South African consumers. “South Africa stands out as one of Africa’s fastest-growing digital markets, with…

Bloomberg has released its inaugural Top 25 African Startups to Watch in 2025 list, recognizing some of the continent’s most innovative companies across key sectors, including biotechnology, finance, e-commerce, and eclectic mobility. Among these 25 trailblazing startups, four operate in the fintech space, representing countries like Angola, Zambia, and South Africa. The finalists were selected from a pool of 2,000 applications and were curated through an evaluation process that prioritized impact, innovation, and traction. Startups were assessed on the uniqueness of their solution, the strength of customer and investor interest, and their ability to show real-world application of their product…

BIMBANK, Mauritania’s Islamic bank and an early adopter of digital banking, has implemented BPC’s SmartVista Fraud Management solution to strengthen enterprise-wide fraud prevention, meet regulatory requirements, and provide real-time protection across its cards, core banking, and digital channels. In recent years, the Central Bank of Mauritania has tightened anti-fraud regulations as part of a national programme to improve payment security. The measures include mandatory real-time monitoring, automated alerts, and detailed reporting across all payment channels. At the same time, rising electronic payment volumes have made banks more vulnerable to increasingly sophisticated fraud attempts. To address these challenges, BIMBANK sought a…

The Banque de la République du Burundi has partnered with the London Stock Exchange Group (LSEG) to modernise the country’s financial infrastructure. The initiative is intended to support the development of a more efficient domestic markets ecosystem. Edouard Normand Bigendako, Governor of the Central Bank of Burundi, said: “This partnership with LSEG marks a transformative moment in our financial sector. By automating and digitising our market operations, we are enhancing transparency, improving operational efficiency, and laying the foundation for a more resilient and inclusive financial system that supports long-term growth.” Nadim Najjar, Managing Director for Central & Eastern Europe, the…

Moniepoint, a Nigerian business and personal banking platform, has reached a valuation of over US$1 billion after completing a US$110 million Series C funding round. In a 2022 interview with Afridigest, CEO Tosin Eniolorunda outlined the strategy behind the company’s growth. He emphasised the importance of “customer obsession,” noting that “the boss of all of us, the chairman of all of us are the customers.” Eniolorunda described how the company developed a system to refund failed transactions within 24–48 hours, compared with the industry standard of 5–10 working days. Two years later, Moniepoint processes more than 1 billion transactions worth…

Africa’s private equity market, excluding South Africa, fell to its lowest level in five years during the first half of 2025, as global headwinds and regional risks dampened investor appetite. According to new figures from Finance in Africa, deal values dropped sharply as rising global interest rates, a strong US dollar, and geopolitical tensions steered capital towards safer, higher-yielding markets. The continent recorded transactions worth US$4.67 billion between January and June, a 15.4% decline from US$5.52 billion in the same period of 2024, and more than 53% below the US$10 billion posted in the first half of 2019. Deal volumes…

Binance Pay has extended its reach in South Africa following a partnership with Zapper, one of the country’s payment providers. The integration allows more than 31,000 additional merchants across South Africa to accept cryptocurrency payments through Binance Pay. Binance Pay is a contactless and borderless cryptocurrency payment feature built into the Binance app. It enables users to send, receive, and spend digital assets instantly without gas fees, whether peer-to-peer or with participating merchants. The service currently supports over 400 digital assets for personal transactions and more than 100 cryptocurrencies for merchant payments. To date, it has been adopted by more…

Fintech trade groups play an important role in fostering the growth and evolution of the sector. They help shape the regulatory landscapes, foster partnerships, and establish industry standards. But despite their importance, these organizations face significant challenges, including resource constraints and fragmentation, according to a study by the Cambridge Centre for Alternative Finance (CCAF). Trade groups are organizations formed by businesses within the same industry to promote their share interests. They advocate for favorable policies, share market intelligence, and coordinate on common priorities. By doing so, they amplify their members’ influence and strengthen their industry’s position in the marketplace In…

Thunes, a Singapore-based global payment network, has launched real-time payment services in Morocco. Members of its Direct Global Network can now send payments directly to bank accounts in the country. The service supports payouts in Moroccan Dirham (MAD) and provides Thunes’ Members with greater access to Morocco’s increasingly connected and digitised economy. Morocco is among the top receiving countries in Africa. According to the World Bank, the country received over US$11.5 billion in 2023, highlighting the importance of efficient and affordable cross-border payments. Research from Thunes’ 2025 report, Money Without Borders, emphasises the importance of speed in cross-border transfers. The…

The GSMA has announced that Paul Kagame, President of the Republic of Rwanda, will officially open MWC25 Kigali on October 21 at the Kigali Convention Centre. This marks the third consecutive edition of the event to be inaugurated by President Kagame. “We are delighted and honoured to welcome His Excellency Paul Kagame to MWC Kigali once again, where we will gather with innovators, policymakers, and business leaders to address the critical issues driving Africa’s digital ambitions. I look forward to engaging with leaders from various sectors to shape the next chapter of Africa’s digital transformation, from smartphone affordability and AI…

Codebase Technologies has entered a strategic partnership with Mojo Payments (MojoPay) to introduce a digital banking platform, Digibanc BaaS 2.0, aimed at supporting innovation and financial inclusion across Ghana’s financial sector. In Ghana, the serviceable addressable market for the platform includes over 240 financial institutions, with further growth potential across Africa. The initiative comes as Ghana’s digital economy continues to expand. In 2024, mobile money transactions reached GHS 3.0192 trillion (US$ 257 billion), while total loans issued amounted to US$ 6,499 billion. Mobile connections have reached 113% of the population, and more Ghanaians are managing their finances through digital and…

Ripple is making its enterprise-grade, USD-backed stablecoin, Ripple USD (RLUSD), available to institutions in Africa through partnerships with Chipper Cash, VALR, and Yellow Card. RLUSD was designed with an emphasis on trust, utility, and compliance and is supported by Ripple’s experience in both crypto and traditional finance. Since its launch in late 2024, RLUSD has reached a market capitalisation exceeding US$700 million, reflecting growing adoption of a compliance-first USD-backed stablecoin. RLUSD combines stablecoin functionality with regulatory oversight, supported by the credibility of an NYDFS-issued New York limited purpose trust company, highlighting Ripple’s approach to trust and transparency in digital assets.…

Visa has launched Visa Pay, a mobile solution that enables digital payments and account-to-account money transfers in the Democratic Republic of the Congo (DRC). The service is designed to provide both banked and unbanked consumers with a secure and interoperable way to send, receive, and move money across participating banks and mobile networks. Visa Pay aims to address the financial needs of individuals and businesses in the country by offering mobile-first features such as easy enrolment, risk and fraud prevention tools, and near real-time account-to-account transfers in both CDF and USD. The platform also supports cash-in and cash-out transactions at…

Nedbank Group, based in South Africa, has reached an agreement to sell its 21.2% stake in Ecobank Transnational Incorporated (ETI) to Bosquet Investments Limited for a purchase consideration of US$100 million (approximately ZAR1.8 billion). The decision follows a strategic review of the group’s financial investment in ETI, which, as of June 30, was classified as a non-current asset held for sale under IFRS 5. Nedbank Group Chief Executive Jason Quinn said the bank was pleased to have reached this stage following the board’s approval to dispose of the asset. “Nedbank’s decision to sell its ETI investment follows a detailed evaluation…

By the end of President John Dramani Mahama’s first official visit to Singapore, Ghana had secured US$1 billion in investment agreements. The investment packages form part of what the President describes as his Reset Agenda, covering infrastructure, hospitality, education, transport, and technology. A notable component is a US$200 million commitment by OLAM to develop new projects in Ghana, including a 43,000-metric-ton pasta processing plant and feed processing plants for poultry and aquaculture, which are expected to create 4,000 jobs, according to Ghana Business News. Singapore-based Shangri-La has pledged US$300 million for the development of a green, ultra-modern five-star hotel, a…

Global insurtech firm bolttech has announced its entry into the Kenyan market through a partnership with LOOP, the digital banking service operated by NCBA Bank. The collaboration extends bolttech’s presence in Africa, bringing its embedded protection and insurance services to Kenya’s growing digital economy. Under the partnership, bolttech and LOOP will introduce LOOP Flex Device Financing (LOOP Flex) in October. The programme is designed to make device ownership more accessible by combining flexible financing with built-in device protection. Coverage will include theft, accidental and liquid damage, mechanical breakdown, and extended warranty, with repairs carried out at certified service centres using…

Kenya Airways and Visa have signed a strategic co-brand agreement intended to strengthen the travel experience for customers and encourage greater use of digital payments within the aviation industry. The partnership will see the introduction of co-branded credit and debit cards, which are expected to be available later this year. These cards will combine payment functionality with a range of travel-related features. Cardholders will be able to collect reward points for purchases made with the cards, which can then be redeemed for flights, upgrades, and other services. In addition, the cards will provide access to travel benefits such as airport…

Mobile money and the Internet are driving financial inclusion by expanding access to accounts and financial services worldwide. Mobile money, in particular, has become a key driver of growth in account ownership. According to the World Bank Group’s Global Findex 2025 report, 79% of adults globally now have an account either at a bank or similar financial institution such as a credit union, microfinance institution, or post office or through a mobile money provider. The study, which is based on a 2024 survey of more than 140,000 people in 130+ economies, found that low- and middle-income economies are leading the…

The Pan-African Payment and Settlement System (PAPSS), launched by the African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has officially welcomed the Bank of Algeria into its network. Algeria becomes the 18th country to join PAPSS, marking a step forward in Africa’s efforts towards deeper financial integration. The move is expected to support cross-border payments and strengthen the regulatory framework governing intra-African trade. Algeria’s accession to PAPSS coincides with the country’s preparations to host the Intra-African Trade Fair 2025 (IATF2025) in Algiers from 4 to 10 September.…