Nigeria
LemFi Raises $33 Million To Transform Financial Services For African Immigrants
LemFi (former Lemonade Finance), a Canada based fintech platform transforming financial services for immigrants, has raised a $33 million Series A round led by Left Lane Capital. Other investors included Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree. Each year,
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Nigeria Legislative Body Requests Pause on Social Media KYC Requirement
The House of Representatives, one of the two Chambers that make up the Bicameral Legislature of Nigeria, has requested the central bank to halt the implementation of a new directive mandating financial institutions to collect additional customer information, including social
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Fintech Search Queries Most Prevalent in Nigeria
Singapore, Nigeria and Hong Kong are the three locations in the world where people are searching for the term “fintech” the most, a finding which suggests that people in these locations have the highest level of interest in the topic,
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Moniepoint Partners with Google Cloud in Nigeria
Google Cloud announced a new collaboration with Moniepoint, an Africa-focused business banking platform that provides financial services to Nigeria’s underbanked businesses residing in remote areas and communities. The collaboration makes financial services accessible at scale to millions of small and
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Fintech Hub: African Development Bank and Africa Fintech Network Sign $525,000 Grant
The African Development Bank has signed a $525,000 grant agreement with Africa Fintech Network AFN (not associated to Fintechnews.africa) for the setup of the Africa Fintech Hub, an online portal that will serve as a one-stop shop for all fintech
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African Development Bank Invests US$170 Million to Create 6 Million Jobs in Nigeria
The African Development Bank has invested US$170 million in the newly-launched Investment in Digital and Creative Enterprises (iDICE) programme which aims to create 6 million new jobs for young Nigerians. Other partners in the programme include the French government which will
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Flutterwave Secures Payments Licenses in Egypt for North Africa Expansion
Nigerian payments company Flutterwave announced that it has received its Payment Services Provider and Payments Facilitator licenses in Egypt. This will enable Flutterwave to collect payments on behalf of its customers and settle payments locally and globally. The company will
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Nigeria’s Agri-Fintech Sector On the Rise
In Nigeria, agricultural technology (agritech) entrepreneurs are leveraging technology and digital platforms to help tackle the massive funding gap faced by small and medium-sized agriculture businesses. This burgeoning sector is attracting the interest of funders and gaining support from organizations
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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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