Africa’s payment landscape is undergoing a rapid and dramatic transformation, fueled by the continued rise of mobile money, the acceleration of alternative payments, and advancements in infrastructure modernization efforts, a new research by Afridigest, commissioned by Zone Network, says. These trends are driving greater efficiency, inclusivity, and economic opportunity across the continent’s ecosystem. The critical role of mobile money The report, released in July, looks at the state of the payment landscape in Africa, highlighting the key trends and developments shaping the sector. In particular, it notes the dynamic payment ecosystem of Africa that’s characterized by an hybrid transformation most…

Artificial intelligence (AI) is reshaping key industries in Africa, including finance, healthcare, agriculture, energy, and urban development. Africa’s AI market is projected to grow from US$4.5 billion in 2025 to US$16.5 billion, marking a 27.42% annual increase, according to a new paper by Mastercard. This growth will be driven by opportunities for economic growth, increased productivity, and expanded access to essential services, including financial services. The whitepaper, released earlier this month, highlights AI’s transformative potential across major industries, particularly in job creation where it is expected to create up to 230 million digital jobs projected in Sub-Saharan Africa by 2030.…

Over the past years, fintech has emerged as a driving force in Africa’s technology landscape, propelled by a surge in venture capital (VC) funding and its consistent outperformance over major tech verticals. According to Partech, a global tech investment firm headquartered in Paris, fintech has consistently outpaced other sectors in deal count, total funding, average ticket size, megadeals, unicorns, and exits, a dominance that has been a defining feature of Africa’s tech ecosystem since the emergence of the VC funding landscape. In 2024, that dominance carried on, with African fintech startups securing US$1.3 billion, or 60% of total equity funding…

Kenya has a vibrant fintech ecosystem, driven by a strong mobile money infrastructure, an increasingly digital-savvy population, and a supportive regulatory environment. In 2023, Kenya had 102 fintech companies, making up 15% of Africa’s fintech startups, according to Disrupt Africa’s Finnovating for Africa 2023 report. This ranks Kenya as the third-largest fintech market in the region, following Nigeria with 217 startups (32% market share) and South Africa with 140 startups (20.6% share). Within Kenya’s burgeoning fintech landscape, several ventures have emerged as category leaders, recording substantial growth and garnering investor attention. Today, we look at some of Kenya’s most successful…

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…