As the bank continues to expand into the fintech sector, HabariPay, the fintech division of Guaranty Trust Holding Co Plc, reported a ₦3.8 billion profit after taxes in 2024. The company revealed this in its full-year 2024 financial results, which were made public over the weekend. In 2023, the fintech recorded a profit of N2.1 […]

For the 2024 fiscal year that concluded on December 31, Fidelity Bank Plc reported a pre-tax profit of N385.215 billion, representing a remarkable 210.01 percent year-over-year (YoY) increase. The post-tax profit increased by 179.63 percent to N278.106 billion in spite of a windfall tax of N13.33 billion. Read also: GTCO Plc reports historic N1 trillion […]

In collaboration with Verve, PalmPay, a Nigerian fintech company with over 35 million users, introduced its first debit card on Thursday, marking a significant milestone in its transition from a mobile wallet to a comprehensive online financial platform. The move aligns with a growing trend among Nigerian fintech companies to embrace local card programs, as […]

Tony Elumelu, the founder and group chairman of Heirs Holdings, has been appointed to the International Monetary Fund’s (IMF) Advisory Council on Entrepreneurship and Growth, according to a statement on Thursday, March 27, 2025. Read also: UBA records 85.9% surge in e-transaction revenue, hits N284.7 billion in 2024 About Tony Elumelu  Tony Elumelu is a […]

According to its 2024 financial year report, United Bank for Africa (UBA) generated N284.7 billion from electronic business transactions. Electronic transaction fees include earnings from ATM withdrawals, card transactions, interbank transfers, online and mobile banking services, SMS/email alerts, and merchant payments. Read also: Commercial Bank of Ethiopia launches virtual and plastic cards with MasterCard 85.9% […]

Zenith Bank received N80.05 billion in revenue from electronic banking transactions in its 2024 financial year report, which concluded on December 31, 2024, indicating a 54.51 percent increase over the N51.8 billion the bank reported in 2023.  Electronic fees include revenue from debit and credit card transactions, ATM withdrawals, balance enquiries, and expenses related to […]

Moniepoint is a Nigerian fintech company that plans to enter the remittance market with its new service, MonieWorld. This platform facilitates money transfers from the UK to Nigeria, aiming to capture a share of the substantial remittance flows between these countries. The service is in its beta phase and is expected to launch publicly soon. […]

Paystack, a leading Nigerian fintech company owned by Stripe, has launched its consumer-focused app, Zap. This app is designed to make bank transfers faster and easier. It was announced on Monday during a live stream on Paystack’s YouTube page. Zap is Paystack’s first major foray into consumer payments after nearly a decade of focusing on merchant-based solutions. […]

On Monday, Enza, a fintech startup founded by former Network International executives Hany Fekry and Hamish Houston, announced that it had secured $6 million in seed funding. This investment, led by Algebra Ventures and Quona Capital, aims to enhance the payment infrastructure for banks and fintechs across Africa, particularly in Egypt, Nigeria, and South Africa—three […]

The Financial Regulatory Authority (FRA) has granted MNT-Halan, Egypt’s leading fintech company, approval to introduce electronic Know Your Customer (e-KYC) in Egypt. MNT-Halan made the announcement via LinkedIn on Monday. This provides a smooth digital experience and represents a major advancement in Egypt’s fintech industry. Read also: Sparkle, Al-Bawaba partner to enhance Libya’s internet speedsecurity  […]

Visa Inc., a global leader in payment services, has announced its commitment to long-term investment in Nigeria with plans to establish a data centre infrastructure in the country. This announcement was made at the Presidential Villa in Abuja during a meeting between Vice President Kashim Shettima and Andrew Torre, Visa’s Regional President for Central and […]

Absa Bank Kenya reported a 14 per cent growth in overall revenue to Kshs. 62.3 billion, driven by a strong funded income of Kshs. 46.2 billion and an 11 per cent increase in non-funded income to Kshs. 16.1 billion. Absa concentrated on assisting its clients in navigating economic changes and seizing expansion prospects during the […]

The Ethiopian Capital Market Authority (ECMA) on Thursday licensed the country’s first investment banks, marking a major milestone in the financial sector. The newly approved institutions, CBE Capital Stock Company and Wegagen Capital Investment Bank Stock Company are poised to introduce a new era of investment banking in Ethiopia. Read also: First Bank named Best Private […]

Baobab Nigeria has lent nearly N500 billion to micro, small, and medium-sized enterprises (MSMEs), reinforcing its commitment to financial inclusion and business growth in Nigeria. The bank announced in a statement that it has served close to 300,000 clients, providing accessible financial solutions to help entrepreneurs expand their businesses. Read also: First Bank named Best […]

For the third year in a row, First Bank of Nigeria Limited, the country’s top bank and top supplier of financial inclusion services, has been named both the Best Private Bank in Nigeria and the Best Private Bank for Sustainability Investing in Africa. This award was given out on Wednesday, March 19, 2025, at the […]

On Tuesday, Mali unveiled two innovative digital platforms to transform public service delivery. Prime Minister Abdoulaye Maïga introduced “Trésor Pay,” a payment platform developed in collaboration with Malian mobile money operators. This system simplifies payments for services such as national identity cards, passports, traffic fines, and fixed penalties. Designed by the Support Unit for the […]

The Bank of Ghana has announced that Brij Fintech Ghana, a licensed Payment Service Provider, has been approved to pilot a B2B currency swap platform known as BrijX. This platform facilitates direct currency swaps between the Ghanaian cedi and the Nigerian naira without relying on traditional foreign exchange channels. The announcement was made on Thursday, […]

Co-operative Bank of Kenya (Co-op) recorded a 9.8 percent increase in profit, rising from KSh 23.2 billion in 2023 to KSh 25.5 billion in 2024. Interest revenue surged by 24.8 percent, reaching KSh 86.2 billion, while income from government securities grew from KSh 23.1 billion to KSh 26.9 billion, bolstering the bank’s overall performance. Read […]

Nigerian revenue-collection agency, Federal Inland Revenue Service (FIRS) has integrated Flutterwave into its e-tax platform, TaxPro Max in order to make tax payments simpler, faster and seamless for Nigerians. This development was revealed by Flutterwave on Thursday. This payment solution is accessible to Nigerians in all walks of life such as accountants, small business owners, […]

Hibret Bank and the International Finance Corporation (IFC) have signed a landmark agreement aimed at enhancing the bank’s operational and financial management capabilities This collaboration represents a crucial milestone for Hibret Bank, as it lays the foundation for improving its treasury, liquidity, and risk management systems, ensuring a stronger financial future In order to ensure […]