South Africa

4 CBDC Projects in Africa You Need to Know

Central bank digital currencies, or CBDCs, are not a new concept to Africa. Multiple CBDC projects in Africa currently exist, even amidst a wider fintech boom across the continent. In an interview, Dr. Co-Pierre Georg, an expert on CBDCs, explains

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Naspers Invests South African Insurtech Startup Naked

South African AI-based insurtech company Naked has clinched an investment of US$11 million, the company announced today. The investment was led by Naspers’ early stage investment fund Naspers Foundry, which committed US$8.3 million to the round. The round also saw

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South Africa’s Yoco Secures US$83 Million To Scale Its Financial Ecosystem

Yoco, a payments and software company from South Africa, has raised US$83 million in a Series C funding round, the company announced in a statement. With the funding, Yoco’s total capital pool now stands at US$107 million. The company noted

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Standard Bank Partners Microsoft to Accelerate Digital Transformation in Africa

Standard Bank and Microsoft announced a strategic partnership to accelerate its digital transformation. The bank’s growing investment in the Microsoft Cloud will enable the innovation, efficiencies, and resilience required to respond to market dynamics and customer needs. This partnership builds

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South Africa, Nigeria and Kenya: Africa’s Largest Fintech Hubs

In Africa, South Africa, Nigeria and Kenya have the three most developed fintech ecosystems, combining more than 450 companies. This burgeoning industry has been driven by strong demographic indicators, increased connectivity, early regulation, and proactive governments. South Africa: an early

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FIS Expands Payment Capabilities Into South Africa and Nigeria

FIS, an American Fortune 500 company which offers a wide range of financial products and services, announced that it is expanding its payment processing capabilities into the rapidly growing markets of South Africa, Nigeria and Malaysia. In South Africa and

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Citi Unveils Digitised Documentation for Cross-Border Payments

Citi has announced the launch of a new service for its institutional clients that speeds up the processing of their cross-border payments through the digitisation of supporting documents. With Citi’s new service, documents can be completed, processed and tracked digitally

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Fintech Attracts Lion’s Share of 2020 African Tech Funding

Fintech funding in Africa jumped 49.3% in 2020 to US$160 million. The amount was raised by 99 fintech startups, making fintech the dominant tech sector of 2020, a new report by regional startup news and research portal Disrupt Africa found.

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3 Swiss Fintech Startups Targeting South Africa

3 Swiss fintech startups namely 4bridges, AgFlow and e-traid (e-commerce) were among the startups chosen to be a part of the Swiss Venture Leaders South Africa team. The selection process for this year was so competitive that the programme included

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Why Are 80% of Central Banks Looking into Digital Currencies?

In 2019, 80% of central banks were engaged in work related to central bank digital currency (CBDC), compared with 70% the previous year. Amongst these, 40% had progressed from conceptual research to experiments or proofs-of-concept, and 10% had developed pilot

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