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Africa
The latest fintech news, resources and expert analysis in Africa by the leading intelligence provider for the worldwide fintech community.
African fintech M-Kopa secures $200m debt financing and $55m equity funding
The debt financing was led by Standard Bank Group and the equity round by Sumitomo Corporation.
Kenya’s Fingo partners with Ecobank to launch neobanking app
The app aims to boost financial inclusion for young people in Kenya.
Egypt’s Taly taps BPC to power digital payment services
Taly aims to broaden financial inclusion and boost digitalisation in the country.
Nigerian paytech Nomba raises $30m in pre-Series B round
The start-up will use the funding to expand in Nigeria and across other African markets.
Nigerian paytech VigiPay taps ThetaRay for Sonar AML solution
Sonar will help protect the growing business against sanctions violations and other types of financial crime.
Smile Identity acquires Appruve to expand across Africa
With the acquisition, Smile Identity aims to expand its reach across Ghana and francophone Africa.
OMO Bank revamps core banking system with Oracle and Profinch
The bank will implement the Flexcube core banking system from Oracle FS.
Demystify Podcast: Demystifying fintech in Africa with Benjamin Fernandes, Nala
The story of Benjamin Fernandes, founder of Nala, and his passion for solving problems speak to the incredible story that is fintech in Africa!
South Africa’s Peach Payments lands $31m Series A funding
With the new investment, Peach Payments plans to expand across new markets in Africa.
Nigeria’s Access Bank partners MFS Africa for outward remittances
The partnership will enable people and businesses in Africa to receive real-time payments from Nigeria.
AccesBanque partners Compass Plus Technologies for ATM acquiring and card management
The partnership will allow AccesBanque to scale and quickly launch new products and services.
Egypt’s Faisal Islamic Bank taps iGCB to power its digital banking services
The bank will deploy iGCB’s cloud-native CBX Retail (CBX-R) solution.
South Africa rolls out PayShap, a new real-time digital payments service
With PayShap, consumers will have access to instant, real-time payments across participating banks.
Amidst legal troubles in Kenya, Flutterwave lands two licences in Rwanda
The unicorn’s latest push in Rwanda follows its bid to expand across East Africa.
Nigerian fintech FairMoney acquires PayForce for undisclosed sum
FairMoney is looking to expand its offering to include features for merchants as well as retail customers.
Africa-focused escrow service Truzo launches in the UK
Truzo says it will close its next round of funding in Q2 2023.
Egypt’s Banque Misr inks payments partnership with Mastercard
The partnership will see Mastercard equip Banque Misr with the latest digital payment technologies.
Central Bank of Nigeria publishes open banking guidelines
The central bank had first begun work on the adoption of open banking in June 2017.
Tintra to set up banking hub in Rwanda for new emerging markets bank
Tintra is in the process of establishing a subsidiary and applying for a licence with the National Bank of Rwanda.
Business banking fintech Moniepoint names Pawel Swiatek COO
Swiatek joins Moniepoint from Capital One, where he served as managing vice president for over four years.
Africa’s Ecobank Group names Jeremy Awori as CEO
Awori brings more than 25 years of banking industry experience to the leadership role, Ecobank says.
MFS Africa partners Western Union to broaden financial inclusion
The service will see funds from across the globe move through payment rails operated by MFS Africa.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
Copal launches Egypt’s first family payments app with Mastercard
Copal aims to provide a “seamless and innovative” cashless payments experience for all family members.
KCB Bank Kenya taps Sopra Banking Software for digital transformation
Sopra Banking Software will design, build and support the bank’s savings and lending products.
African paytech Chipper Cash sheds around a third of its workforce
More than 100 employees at the firm have been affected, Techweez reports.
African ID verification platform Smile Identity nabs $20m Series B
The latest funding round brings Smile Identity’s total capital raised to date to $31 million.
Ghana’s Fortek partners Codebase for Digibanc platform
It is hoped the partnership will “accelerate digitisation” and boost entrepreneurship in Africa.
South Africa to pilot national rapid payments programme this year
The national payment system forms part of South Africa’s Vision 2025 programme.
South African digital lender Lulalend bags $35m Series B
Lulalend will look to increase its loan book size and develop new products.
Egyptian fintech MNT-Halan lands $400m investment
MNT-Halan claims it is the largest investment across Egypt and the Middle East over the past 12 months.
ICYMI fintech funding round-up: Ascendant, Evergreen, Kwara, Pilon & more
Featuring Ascendant, Evergreen, Komunal, Kwara, Pilon, and Sprinque.
New paytech Enza launches in Africa
Enza aims to provide payment solutions to firms that want to enable customers to accept or make digital payments.
Africa’s Flutterwave reportedly in bid to acquire British fintech Railsr
An insider reportedly told Sky News that there was “heavy competition for the asset”.
Fintech Galaxy snaps up Egypt’s Underlie to boost regional open finance
Fintech Galaxy will leverage Underlie’s open banking APIs expertise to speed up market penetration in Egypt.
NetGuardians tapped by Bank of Africa for fraud prevention software
NetGuardians says building out an “anti-fraud culture” is essential to the growth of pan-African banking.
Visa to invest $1bn in Africa to boost digital transformation
Visa says the move will enable “greater access” to digital payments in the region.
MICT completes acquisition of African agri-fintech firm Tingo
MICT owns “100% of the operating business and assets” of Tingo after snapping up Tingo Mobile.
Investec taps Surecomp for its digital trade finance tech
Surecomp’s tech will support Investec’s newly formed trade finance business.
