Archive
Nigerian Open Finance Startup Okra Secures $3.5m Seed Round
Okra, Africa’s Open Finance API announced its $3.5m Seed raise. The round was led by US-based Susa Ventures, with participation from existing investors TLcom Capital, and newly joined Accenture Ventures. Okra is an Open Finance platform that enables developers and
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Morocco Grabs the Third Spot in Arab’s Fintech Space Behind UAE and Egypt
Morocco is the third largest fintech hub in the Arab world, hosting 13% of all 400 active fintech solutions, or about 40 fintech solutions, according to a research by financial inclusion think tank Consultative Group to Assist the Poor (CGAP).
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Egyptian Payments Firm Paymob Completes Series A Funding Of US$18.5 Million
Egypt’s digital payments provider Paymob announced that it has secured US$15 million in a second tranche of its Series A fundraising activity. It follows a first tranche of US$3.5 million, raised in July 2020. The capital raise was led by
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Nigerian Core Banking Provider Appzone Secures US$10 Million Funding
Appzone, a Pan-African fintech software provider building proprietary solutions for the continent’s banking and payments industries, has announced the close of its US$ 10 million Series A round. The round was led by CardinalStone Capital Advisers with participation from V8
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EFG Hermes Announces Partnership With Lulu Group International In Egypt
EFG Hermes, a financial services corporation in frontier emerging markets (FEM), announced the launch of a new partnership between its NBFI subsidiaries valU for consumer finance and PayTabs Egypt with LuLu Group International in Egypt, a Middle East hypermarket and
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Nigeria Lays Groundwork for Open Banking
With a booming fintech sector, the Nigerian government and regulators are now setting the foundation for open banking, releasing regulatory frameworks for the safe and efficient transmission of data with hopes that subsequently new, innovative financial solutions will emerge and
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Mobile Money Boom Lays Foundation for Fintech In Kenya
Home to over 150 fintech companies, Kenya has one of the biggest and most developed fintech ecosystems in the African continent, owning to the proliferation of mobile phones and the rise of mobile money. Similarly to other developing markets, Kenya’s
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Uganda’s Tugende Raises Additional $3.6 Million Funding to Fuel SME Lending
Tugende, a technology enabled asset finance company in East Africa, announced that it has closed $3.6 million in additional equity financing, which is an extension of the firm’s Series A, for which the first close was announced in September 2020.
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Kigali International Financial Center Reveals Rwanda’s Ambitions to be the African Hub
Rwanda Finance Limited (RFL), a state owned company mandated by the government, has launched the Kigali International Financial Center (KIFC). KIFC said in a statement that it aims to become one of the leading international financial centers on the continent.
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