Nigeria

Partech Africa Closes Fund Above $300 Million and Opens Office in Lagos

Partech, the global technology investment firm, announced the final closing of its second Africa fund, Partech Africa II, at a hard cap of €280M ($300M+), opens a new office in Lagos and is looking to hire more team members. Following

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The Top Nigerian Fintech Products According to The Nigerian Tech Ecosystem Movie

On December 20, 2023, Peace Itimi, the host of Founders Connect, a YouTube show that interviews up-and-coming entrepreneurs in the African startup landscape, premiered a new documentary spotlighting the Nigerian tech ecosystem. The documentary, titled “Innovating Africa: The Rise of

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IFC Invests in New Private Equity Fund Targeting Financial Inclusion Startups in Africa and Asia

IFC announced an investment in a new fund by Apis Partners LLP, a private equity firm, to help innovative mid-cap financial service providers expand and boost financial inclusion among individuals and micro, small, and medium-sized enterprises across Africa, South Asia,

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Oceanbase Supports Palmpay to Reduce Its Database Cost by 80%

OceanBase, an enterprise-level distributed relational database provider, announced that its database solution has been deployed and put into operation in the core IT systems of PalmPay, a leading fintech platform in Africa. PalmPay, the first Africa-based customer to adopt OceanBase,

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Despite Growth and Potential, Fintech Development Faces Challenges in Nigeria

In Nigeria, the fintech industry has expanded well beyond payment services to now encompass a wide range of segments, including regulatory compliance, credit and blockchain. This growth has been driven by mass adoption of digital financial services and increased collaboration

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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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