4 Things You Should Know About the African Fintech Industry: Report
The African fintech industry has grown by leaps and bounds, no doubt. VC dollars have flooded the startup market, mobile money is all anyone can talk about, and regulators are watching this space ever so closely. A number of otherRead More
Fintech Digest: UAE, Singapore Pilot First-Of-Its-Kind Cross-Border Trade Finance Project
The Monetary Authority of Singapore (MAS) and Abu Dhabi’s Financial Services Regulatory Authority (FSRA) have completed a first-of-its-kind digital cross-border trade finance document transfer (Fintech Futures). This makes the initiative the world’s first cross-border digital trade financing pilot, a statementRead More
Is Crypto in Africa the Next Big Thing?
Global crypto adoption is being propelled by emerging markets, and crypto in Africa is at the forefront of this. As of August this year, peer-to-peer (P2P) bitcoin trading volumes in sub-Saharan Africa on crypto trading platforms LocalBitcoins and Paxful crossedRead More
Fintech Has Taken Off In Africa – Here’s Why It’s Not A Bubble
Some of the most innovative models in fintech we’ve seen have come out of our Africa portfolio, such as the way Pula advanced embedded finance by bundling crop insurance with the seed bought by small farmers. This year, it seemsRead More
MFS Africa Raises US$100m Series C to Boost Expansion
In another big round this week, pan-African digital payments gateway MFS Africa has secured US$100 million in a Series C equity and debt round, the company announced in a statement. The financing is split US$70 million for equity and US$30Read More
Fintech Digest: Will Mobile Money Shake Up Nigeria’s Banking Industry?
MTN Nigeria and Airtel Africa had a substantial win in Nigeria last week, after the two mobile money players won conditional approval from the Central Bank of Nigeria to offer mobile banking services. MTN Nigeria and Airtel Africa still haveRead More
Jeff Bezos-Backed Chipper Cash Raises US$150m Series C
Pan-African cross-border payments company Chipper Cash has secured US$150 million in an extension to its Series C, TechCrunch reported. The round was led by Bahamian-based cryptocurrency exchange FTX. This is FTX’s first investment play in Africa. Participating investors included existingRead More
Fintech News Digest: What’s Behind Saudi Arabia’s Fintech Boom?
Saudi Arabia’s fintech ecosystem is thriving to say the least. In last week’s fintech news, a new report pointed out that Saudi fintech companies raised a three-figure total of US$157.2 million between January and August this year. Compare this toRead More
Fintech News Digest: The Problem of Surveillance in Africa’s Biggest Fintech Hubs
A new study has found that governments in six African countries have been spying on citizens through the use of technology (The Conversation). Governments in Egypt, Kenya, Nigeria, Senegal, South Africa and Sudan have been surveilling citizens, either through legalRead More
MEA Fintech Weekly News: Are Neobanks the Next Big Thing for Nigeria?
This week marked a new win for digital banks in Nigeria. Neobank Sparkle raised US$3.1 million in a seed round for expansion efforts (TechCrunch). Founded by former CEO of Diamond Bank Uzoma Dozie, Sparkle provides both individual and business bankingRead More