Nigeria
Flutterwave Merchants Can Now Accept Payments in Digital Currency eNaira
Flutterwave merchants can now process payments in eNaira, the Nigerian digital currency issued and distributed by the Central Bank of Nigeria. The self-service payment method is available to all Flutterwave merchants who want to collect Nigerian Naira (NGN) from customers
Read More
African Unicorn Flutterwave Awarded Switching and Processing License in Nigeria
Payments company Flutterwave has been granted a Switching and Processing License by the Central Bank of Nigeria (CBN). The switching and processing license allows Flutterwave to enable transactions between banks, fintechs and other financial institutions. The company can also process
Read More
Central Bank of Nigeria Flags Off Second Phase of the eNaira Project
Central Bank of Nigeria’s (CBN) governor Godwin Emefiele says the second phase of the eNaira project has begun and is intended to drive financial inclusion by onboarding unbanked and underserved users leveraging offline channels. Nigerians will be able to open
Read More
British International Investment Invests US$20 Million In Nigerian Fintech Moove
British International Investment (BII), the UK government’s Development Finance Institution (DFI) formerly known as CDC Group, has unveiled its new name and made a US$20 million investment into Moove. Moove, a mobility fintech democratising access to vehicle ownership in Africa,
Read More
Nigeria Top Retail Central Bank Digital Currency Leaderboard
PwC’s 2022 Global CBDC Index and Stablecoin Overview has ranked Nigeria at the top of the retail leaderboard, recognizing the work done by the Central Bank of Nigeria (CBN) in developing and deploying the eNaira, a digital form of the
Read More
Nigerian Mobility Fintech Moove Raises $105M in Series A2
Moove, a Nigeria and London based mobility fintech, which provides revenue-based financing to mobility entrepreneurs across Africa, has raised $105 million in an oversubscribed Series A2 round consisting of equity and debt. The round is led by existing investors, Speedinvest,
Read More
Flutterwave Closes USD $250M in Series D Funding
Flutterwave announced that it has raised USD $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on the continent and worldwide. Flutterwave has become the highest
Read More
Momentum Continues in Nigeria’s Fintech Ecosystem
In 2021, the momentum in Nigeria’s fintech ecosystem continued, driven by a blooming local startup scene, significant growth amongst large, established players, and a dynamic funding landscape. Fintech was investors’ favored tech sector last year. They injected a whopping US$800
Read More
BlocPal and PayPassage Launch “Phygital” Financial Services Marketplace in Nigeria
Canada-based digital transaction platform BlocPal International and its majority-owned Nigerian subsidiary PayPassage have partnered to launch a financial services marketplace in Nigeria. The partnership marks BlocPal’s first launch in Africa, a statement from the company said. This is BlocPal’s third
Read More
TradeDepot Secures US$110m to Scale BNPL Service to Retail SMEs
B2B ecommerce and embedded finance platform TradeDepot has raised US$110 million in a Series B equity and debt funding round. The International Finance Corporation (IFC) led the Series B. Participating investors included Novastar, Sahel Capital, CDC Group, and Endeavor Catalyst.
Read More