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Fintech

Highlights

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UMWAMPI mobile wallet drives financial inclusion for Burundi’s military 

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Moniepoint eyes commercial banking license to expand financial services in Nigeria

The latest Nigerian fintech unicorn, Moniepoint, is pursuing a commercial banking license from the Central Bank of Nigeria (CBN) to broaden its retail banking operations and strengthen its foothold in the financial services market. While the regulatory approval process could take up to a year, securing the license would mark a significant milestone for the […]

Ibukunoluwa Josephine Bankole
2

New fintech DigMo offers gamified wealth-building for Zambia’s underprivileged

DigMo is a new financial services provider offering low- and middle-class Zambians gamified wealth-building solutions. The fintech company, designed for underprivileged customers and has a licence from the Bank of Zambia to run a wallet, gives them access to exciting goods with attractive rewards. The company has appointed James Chona as Chairman, who will guide […]

Pelumi Apantaku
2

Banxso Scandal: 260 South Africans claim over R160 million in losses due to false ads

Banxso (Pty) Ltd, a financial services platform in South Africa, is involved in a legal dispute with the Financial Sector Conduct Authority (FSCA), marking one of the most significant regulatory challenges in the country’s fintech sector in recent years. This rare public clash highlights ongoing issues related to client communication, compliance, and the broader regulatory […]

Pelumi Apantaku
2

Leatherback looks to new leadership to navigate post-scandal recovery

Leatherback, a cross-border payments firm with operations in the UK and Nigeria, has appointed Toni Campbell as its new CEO, following the exit of co-founder Ibrahim Ibitade who headed the company for five years. The appointment, which marks a significant shift in leadership, comes after a tumultuous period for the firm, including investor interventions and […]

Pelumi Apantaku
37

Ecobank partners TransferTo to enhance digital payments in Africa following Nium partnership

Ecobank Transnational Incorporated has announced another strategic partnership with TransferTo company. This is coming days after the company collaborated with Nium to enhance cross-border transactions in Africa. Ecobank GCEO Jeremy Awori and TransferTo CEO Peter De Caluwe signed the Memorandum of Understanding (MoU) during the Singapore FinTech Festival held last week. While announcing this partnership […]

Staff Writer
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Bank of Ghana suspends Taptap Send over regulatory infractions

The Bank of Ghana (BoG) has suspended the operations of the financial remittance service TapTap Send, citing violations of the country’s regulatory framework. The suspension, effective November 8, is the result of a breach of the Foreign Exchange Act, 2006, which governs payment services in Ghana. TapTap Send’s “cedi remittance wallet” ran afoul of the […]

Pelumi Apantaku
2

EBank launches InfoSec Academy to empower youths, drive digitalisation in Egypt

As part of its strategic roadmap for 2022-2027, EBank has inaugurated the Information Security Academy (InfoSec) in collaboration with the Egyptian Banking Institute (EBI), the training arm of the Central Bank of Egypt. The academy is designed to nurture young talents, equipping them with the skills necessary to support the Bank’s technological advancement while also […]

Pelumi Apantaku
39

Visa backs African fintech startups OkHi, Oze, Orda and Workpay with $1 billion

The growing push for financial inclusion in Africa has attracted another major investment. Visa, world’s second-largest card payment processor, on November 5 committed $1 billion to four fintech startups to promote innovation, service accessibility and the expansion of fintech services across the continent. The enormous investment demonstrates Visa’s confidence in Africa’s financial potential to generate […]

Staff Writer
37

FirstBank’s 6th fintech summit: A platform for innovation and strategic partnerships

First Bank Nigeria Limited has announced its 6th edition of its fintech summit themed “Banking on Partnerships” scheduled for November 13 and 14 at the Lagos Continental Hotel. As part of the event, the financial institution will introduce the Fintech Innovators Pitch Programme to support early-stage fintech businesses and foster innovation in the financial services […]

Staff Writer
37

MTN purchases more shares in MoMo PSP to strengthen financial inclusion

In an effort to improve its standing in the financial services industry, MTN, the largest telecom company in Nigeria, paid N6.95 billion to acquire the remaining 7.17 percent minority stake in MoMo Payment Service Bank. MTN acquires remaining stake in MoMo PSB to enhance digital banking in Nigeria MTN, the largest telecom company in Nigeria, […]

Staff Writer
37

OPay introduces facial recognition for high-value transfers

Opay has launched a new security feature called “Large Transaction Shield” that requires facial recognition of the account holder in high-value transactions. The feature enhances user safety by combining transaction approval with biometric verification, to tame fraud that is often associated with digital financial transactions. With Large Transaction Shield, Opay users can set a limit […]

Staff Writer
16

PiggyVest named Best Mobile App at Digital Jurist Awards 2024

PiggyVest, a prominent Nigerian fintech platform, received two prestigious awards at the Digital Jurist Awards 2024 held on October 31 at Eko Hotel and Suites in Lagos. The company was named the Best Mobile App and fintech with the Best Social Media presence, recognising its efforts to enhance users’ digital financial experiences and engage them […]

Ibukunoluwa Josephine Bankole
16

Orange and Mastercard partner to expand digital payments in Africa by 2025

Orange Middle East and Africa has announced a strategic partnership with global payments leader Mastercard to increase access to mobile financial services throughout Sub-Saharan Africa. By 2025, the collaboration aims to enable millions of Orange Money wallet users to conduct digital payments via Mastercard’s extensive network of global merchants. This initiative will initially launch in […]

Ibukunoluwa Josephine Bankole
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