On Monday, Vesti, a migration fintech company backed by Techstars, launched in Kenya to empower immigrants and foster financial inclusion in Kenya and abroad.  Vesti plans to serve 1 million more customers in 2025, and it sees significant opportunities for business expansion and talent acquisition in Kenya. In 2024, Vesti marked the opening of its […]

The Bank of Zambia has stepped in to take control of Ecsponent Financial Services Limited, also known as MyBucks Zambia, over insolvency— the company has run out of money and can no longer pay its debts. This move, which happened on Sunday, February 16, 2025, was made according to the country’s Banking and Financial Services […]

Sierra Leone on Thursday introduced its instant payment service through the national switch, enabling citizens to send money instantly between banks, mobile carriers, and bank accounts. This is part of the government’s effort to boost cashless economy. By April 1, all participants in the industry must integrate the system, which is already being used by […]

To enhance payment ease and expedite business transactions, Nib International Bank, a leading commercial bank in Ethiopia, has launched two new digital payment apps, Nib Amber Pay and Nib Paystream. At the inaugural event, which took place at the bank’s headquarters, Henok Kebede, the CEO, gave a speech outlining the main features of the new […]

Guarantee Trust Bank (GTBank) on Thursday scrapped processing fees on all of its point-of-sale (POS) terminals to support business entities across the country in light of the Central Bank of Nigeria’s (CBN) approved increase in ATM withdrawal charges. GTB users will no longer incur Merchant Service Charges (MSC) as a result of this change, which […]

The Bank of Zambia on Tuesday announced a new set of banknotes and coins will be.added to the nation’s legal tender. According to the announcement made by the Bank of Zambia on Tuesday, new banknotes will be launched on March 31, 2025. The new banknotes to be added to the Zambian currency are six banknotes, […]

Keystone Bank has issued a statement announcing that the Federal Government of Nigeria now owns all of its shares following a Tuesday ruling by the Lagos State Special Offences Court. Justice Rahman Oshodi of the special court ordered the full forfeiture of Keystone Bank’s billions of shares to the government, specifically 6.3 billion shares at […]

On Tuesday, Affinity Africa, a Ghanaian fintech startup, announced that it has raised $8 million in seed funding to broaden its digital banking services. In their first investment in the African market, European venture capital firms Grazia Equity from Germany and BACKED VC from London led the $8 million seed round. This round included participation […]

The Central Bank of Nigeria (CBN) on Monday directed all banks to charge customers N600 for every N20,000 withdrawal from Automated Teller Machines (ATM) to reflect “rising costs.”  Per a CBN circular titled ‘Review of Automated Teller Machine Transaction Fees,’ referenced FPR/DIR/GEN/CIR/001/002 and seen by Techpression, all financial institutions are to charge ATM users from […]

Egyptian fintech startup Khazna has secured $16 million in pre-Series B funding to support its application for a digital banking licence in Egypt and expand into Saudi Arabia. Khazna aims to provide financial services to underserved low- and middle-income workers. With this latest investment, the company is set to strengthen its market position and drive […]

The Bank of South Sudan (BoSS) launched the country’s first National Instant Payment System (NIPS) on Monday in collaboration with the AfricaNenda Foundation. This milestone aims to enhance financial inclusion and streamline transactions for over 6 million adults with limited access to banking services. Read also: South Sudan bans social media over deadly attacks in […]

On Tuesday, Safaricom and the Kenya Bankers Association (KBA) unveiled a bold proposal to designate Pesalink as Kenya’s primary fast payment system (FPS).  This move seeks to unify the country’s increasingly fragmented digital payment systems, complicated by private agreements between banks, SACCOs (Savings and Credit Cooperative Organizations), and fintech firms.  The proposal suggests leveraging Pesalink’s […]

On Tuesday, Float, a pioneering credit card-linked instalment platform in Africa, announced a strategic partnership with Peach Payments, a prominent online payment solutions provider.  This collaboration aims to enhance the payment options available to consumers and merchants across South Africa. By integrating Float’s innovative payment solutions into Peach Payments’ checkout process, the partnership is set […]