Kenya

Fintech Emerges as Kenya’s Most Prevalent Tech Startup Sub-Sector

In Kenya, fintech has emerged as the country’s most prevalent tech startup sub-sector, accounting for 30.2% of all young tech companies in the nation and employing most of the ecosystem’s staff, a new report by Disrupt Africa, a local media

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World Bank’s IFC Launches New Venture Capital Platform to Invest in Tech Startups

The International Finance Corporation (IFC) has launched a new US$225 million venture capital platform to invest in early stage companies in Africa, Middle East, Central Asia, and Pakistan. According to the IFC, these regions collectively received less than two percent

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African Fintech Sector Attracts More Funding

The African fintech sector is gaining interest from global investors. Recently, Algerian super app Yassir announced that it had raised US$150 million in Series B funding – making it North Africa’s most significant funding to date.  Participating investors led by

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Standard Chartered-Backed Solv Launches Its B2B Marketplace in Kenya

B2B marketplace Solv has launched in Kenya to enable micro, small and medium enterprises (MSMEs) to access credit, e-commerce and business services. Solv Kenya’s first product is supply chain financing, an invoice financing programme which facilitates connections and negotiations between

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10 Companies Awarded Kenya’s First Digital Credit Provider Licenses

The Central Bank of Kenya (CBK) announced that it has awarded licenses to 10 digital credit providers out of the 288 applicants who responded to its call for applications in March 2022. The announcement stated that all digital credit companies

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Brazil’s EBANX to Expand Payments Solutions to South Africa, Kenya and Nigeria

Brazilian payments company EBANX announced plans to expand its operations and payments solutions outside Latin America for the first time to Africa, with a focus on South Africa, Kenya, and Nigeria. The three countries are said to account for 32

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Africa’s Demand for Payment Hubs Rises to Address the Continent’s Interoperability Gap

Africa is a world leader in mobile money, with Kenya and Ghana having the highest rates of mobile payment use in the world after China. The continent’s 55 countries are home to around 171 mobile money wallets, more than 1,000

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MoneyGram Launches Global Crypto-To-Cash Service in Kenya

MoneyGram has partnered the Stellar Development Foundation (SDF) with to initiate the roll out of  its crypto-to-cash service that is now available in key remittance markets, including Kenya, the U.S., Canada, and the Philippines for the first wave of users.

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Here’s What You Need to Know About the Finnovex East Africa Summit 2022

The highly anticipated second annual Finnovex East Africa Hybrid Summit is set to kick off this April 20-21, 2022. The summit’s organiser Exibex said that it is preparing to host a gathering of 350+ attendees to hear from 20+ industry

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OpenWay Expands Its Networks With Partners in East Africa

OpenWay, a digital banking and payment software provider, has announced two new implementation partners in East Africa — TechNote, along with iCon Transactions and Tracing Technologies (iT&TT). These new additions to OpenWay’s partner network will allow its clients to reduce

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