Nigeria

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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Nigeria’s Touch and Pay Wins the Ecobank Fintech Challenge 2022

Nigerian fintech Touch and Pay has won the 2022 edition of the Ecobank Fintech Challenge and with it a US$50,000 cash prize — said to be the largest no-strings attached fintech cash prize in Africa. The announcement was made at

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Meet the 6 Fintech Startups Competing in the Ecobank Fintech Challenge 2022 Finals

African banking group Ecobank Group has announced the six finalists for the fifth edition of the Ecobank Fintech Challenge, chosen from a pool of 700 applicants in 59 countries. Finalists will undergo a mentoring programme to explore funding opportunities and

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Here are the Top 5 Fintech Startup Funding Rounds in Nigeria

Nigeria is home to the largest number of startups and startup funding rounds in the last decade in Africa with 383 startups securing over US$2 billion from 2015 to 2022 — a large part of which involve fintech startups, according to

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Glo’s MoneyMaster PSB Launches Digital Financial Services Platform G-Kala

Nigerian telco Globacom, commonly known as Glo, has officially launched its new mobile payments and banking business MoneyMaster Payment Service Bank (PSB). The subsidiary was first established in 2019. It then received a payment service bank license from the Central

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5 African Fintech Startups on CB Insights’ Fintech 250 Most Promising List

Five African fintech startups made this year’s Fintech 250, CB Insights’ annual list of the 250 most promising private fintech companies in the world. The 250 winners were selected from a pool of over 12,500 eligible private companies based on

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ProvidusBank Launches Tap-to-Pay Service With Mastercard, Interswitch and Thales

Nigerian financial services company ProvidusBank has partnered with Mastercard, African payments infrastructure provider Interswitch, and French technology company Thales Group to introduce a new Tap-to-Pay contactless payment service in the country. The new service allows users to make in-store payments

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Clickatell Enables Nigerians to Access eNaira Services Even Without Mobile Data

Chat commerce platform Clickatell has partnered with the Central Bank of Nigeria (CBN) to launch a USSD channel for the eNaira to enable Nigerians to access their eNaira wallet without the need for mobile data. The new USSD channel allows

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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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