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.…

In 2024, Nigeria received $21.29 billion in personal remittances, accounting for 11.3% of the country’s GDP, according to World Bank data. Digging further, Nigeria is the highest remittance-receiving country in Africa, surpassing Egypt, which previously held the record. It is also the only sub-Saharan African country that has consistently received more than $5 billion annually in remittances since 2005. And at 41% of all remittance inflows, the U.S. and the UK are the major sources of remittances to Nigeria. With these numbers in view, it is clear that lots of people are sending money to Nigeria and that the money…

Nigeria boasts one of the largest and most advanced fintech ecosystems in Africa, with the biggest concentration of fintech companies on the continent and a consistent lead in attracting funding. The country is home to 28% of all the fintech companies in Africa, according to the European Investment Bank (EIB), and is a prime hub in Africa for venture capital (VC) funding. Between 2020 and H1 2024, Nigeria attracted the highest share of fintech investments in African fintech companies, securing roughly 36% of total fintech equity funding, according to a 2023 report by the Boston Consulting group. Companies like Moniepoint,…

South Africa’s fintech sector is growing rapidly, driven by rising adoption of alternative lending, a new report by MD Finance, a financial technology provider, says. Growth is expected to continue, with a significant share of consumers planning to use alternative lenders for their personal needs. The report, released in July, looks at the state of fintech in South Africa, focusing on alternative lending. It found that personal loan originations from non-bank lenders in South Africa grew by 11.5% year-over-year in Q1 2025 as more consumers sought these providers to meet financial needs. Demand is set to remain strong, with 35%…

The GSMA, a global organisation uniting mobile operators and companies across the mobile ecosystem, has announced the return of MWC Kigali, the African continent’s largest and most influential connectivity event, taking place from 21 to 23 October 2025. Hosted in partnership with the Ministry of ICT and Innovation of Rwanda, the event will bring together regional and global leaders to foster cross-border collaboration, investment, and policy dialogue in support of Africa’s digital transformation. New for 2025, MWC Kigali will see the launch of the GSMA Ministerial Programme, a flagship initiative from MWC Barcelona. The programme will convene policymakers, industry leaders…

Tanzania’s real-time digital payments more than doubled in value in 2024, with the national switch processing TSh29.9 trillion (US$11.6 billion) in transactions by December, up from TSh12.5 trillion (US$4.9 billion) the previous year, according to the Bank of Tanzania’s (BoT) latest financial stability report. The Tanzania Instant Payment System (TIPS), introduced in 2020, enables users to transfer funds instantly between banks, mobile money wallets and other licensed financial institutions. According to TechCabal, the system is a key part of the country’s efforts to address fragmentation in its payments landscape. In 2024, TIPS processed 454 million transactions, nearly double the 236…

Paymentology, a global issuer-processor, has introduced PayoCard, a mobile-first card management platform designed to support digital banks and fintech firms in South Africa. Developing responsive mobile card services has often been a resource-intensive and technically demanding task for banks and fintechs, requiring substantial infrastructure and extended development timelines. PayoCard, built on Paymentology’s cloud-based platform, aims to simplify this process. It offers a plug-and-play solution that enables issuers to provide cardholders with self-service features such as real-time balance updates, PIN changes, card freezing, and in-app support, all within a single mobile application. In South Africa, many individuals are first introduced to…

Visa has opened applications for the fifth edition of its Visa Africa Fintech Accelerator. The 12-week virtual programme is aimed at supporting African fintech startups with a minimum viable product (MVP) or market-ready solution. Applications for Cohort 5 close on 15 August. Alongside this announcement, Visa also revealed the 22 startups selected for the programme’s fourth cohort, representing 12 African countries. These startups are developing solutions across areas such as small and medium-sized business (SMB) digitisation, lending, cross-border payments, payroll, B2B transactions, AI-driven payments, social commerce, climate insurance, and neo-banking. The Accelerator offers participating startups mentorship, tailored training, networking opportunities,…

The World Bank Group has joined the Mobilising Access to the Digital Economy (MADE) Alliance: Africa as a co-chair, alongside existing co-chairs the African Development Bank Group and Mastercard. The initiative aims to provide digital access to essential services for 100 million individuals and businesses across Africa by 2034. The MADE Alliance: Africa brings together leading institutions committed to accelerating digital transformation by expanding access to secure, affordable and high-quality broadband and data connectivity. It also seeks to ensure interoperability between digital services to improve the user experience. The World Bank Group will contribute its technical knowledge, data insights and…

Nigerian fintech Payaza has secured approval from the Securities and Exchange Commission (SEC) of Nigeria to raise an additional ₦20 billion under its ₦50 billion commercial paper programme. The green light from the SEC follows a similar approval from FMDQ Exchange in December 2024. Speaking to Techpoint Africa, Payaza CEO Seyi Ebenezer described the approval as “incredibly significant,” adding that it represents a “profound vote of confidence from the market in our business model, our financial health, and our strategic vision for the African payments landscape.” The capital will be raised in two tranches, classified as Series 3 and 4…

Revolut, the London-based digital bank, is preparing for a potential entry into Morocco as part of its broader international expansion plans. The company has begun building a local team to support its efforts in the North African country. A Revolut spokesperson told Asharq, as reported by 7news Morocco, that the fintech firm is currently assessing multiple international markets, with Morocco standing out as a promising option for expansion in the MENA region. While still in the early stages, the company has initiated the process of securing regulatory approval from Bank Al-Maghrib, the country’s central bank. Revolut, which offers a broad…

Afriex, the Lagos- and San Francisco-based money transfer startup, has expanded into Asia’s three largest remittance destinations, China, India, and Pakistan, amid rising demand for low-cost, near-instant cross-border payments. As reported by TechCabal, the move positions Afriex to better serve African traders and diaspora communities engaged in foreign trade or supporting families back home. “Our money transfers to India and Pakistan are instant, just like sending money to a friend or paying your Uber driver, and 90% of our transactions are completed in under two seconds,” said Tope Alabi, Afriex’s co-founder and CEO. “Although on China’s side we are not…