News
Crypto Platform Yellow Card Secures US$40M Series B Led By Polychain Capital
African cryptocurrency platform Yellow Card Financial has raised US$40 million in Series B funding led by Polychain Capital. Other investors in the round included Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The
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Brazil’s EBANX to Expand Payments Solutions to South Africa, Kenya and Nigeria
Brazilian payments company EBANX announced plans to expand its operations and payments solutions outside Latin America for the first time to Africa, with a focus on South Africa, Kenya, and Nigeria. The three countries are said to account for 32
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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
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Africa’s Demand for Payment Hubs Rises to Address the Continent’s Interoperability Gap
Africa is a world leader in mobile money, with Kenya and Ghana having the highest rates of mobile payment use in the world after China. The continent’s 55 countries are home to around 171 mobile money wallets, more than 1,000
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McKinsey Fintech Africa Report: Ghana, Francophone West Africa Among Fastest Growing Markets
African fintech companies have made significant inroads into the market over these past couple of years, with revenues reaching US$4 billion to US$6 billion in 2020 and average penetration levels of between 3 and 5% (excluding South Africa), an McKinsey
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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
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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
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Ecobank Group Launches 2022 Edition of Its Africa Fintech Challenge
Fintech Challenge offers early stage and mature start-ups the potential to partner with Ecobank across 33 African countries; Applications open until 16 September. Pan-African banking group, Ecobank Group, has launched the fifth edition of the Ecobank Fintech Challenge and encourages African
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Bank of Ghana Introduces Regulatory Fintech Sandbox
Following a successful pilot implementation, Bank of Ghana launched now its Regulatory and Innovation Sandbox developed in collaboration with EMTECH Solutions. This is in line with the Bank’s commitment to continuously evolve a conducive regulatory environment that fosters innovation, financial
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Ivory Payment Startup Bizao Raises €8 Milion Series A
Bizao, a fintech that facilitates payments for both local and international businesses operating in Africa, announces an €8 million series A funding to accelerate its geographical footprint across the continent and invest in the design of new lines of products
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