Nigeria
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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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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