Through a strategic relationship with IndusInd Bank Ltd., a preeminent financial institution in India, Africa’s most successful payments company, Flutterwave, has entered the Indian market. Flutterwave is currently the market leader in Africa. As a result of this decision, the financial technology company, which is now estimated to be worth roughly $3 billion, will now […]

Companies that engage in telemarketing or loan applications and make use of unauthorized phone numbers risk being arrested and prosecuted. The Nigerian Communications Commission (also known as the NCC) has stated this. According to the regulatory agency that oversees telecoms, using other people’s phone numbers without first obtaining their permission is deemed an invasion of […]

Aella, a company that provides credit and financial solutions in Nigeria, has put in measures that would ensure its customers now have access to free transfers.  The monetary stress that its customers are under will hopefully be alleviated as a result of this programme.  Users of Aella will, beginning September 1st, continue to have access […]

The construction of the World Bank-funded Africa Centre of Excellence for Sustainable Power and Energy Development (ACE-SPED) has begun at the University of Nigeria, Nsukka (UNN).  Vice Chancellor of UNN Prof. Charles Igwe, officially flagged off the building of the proposed two-story structure on Thursday in Nsukka. The VC appreciated the World Bank for choosing […]

Zenith Bank Plc’s Board of Directors has announced that Dr. Juliet Ehimuan will become a non-Executive Director of the bank on August 29, 2023. This news shows that the bank is serious about hiring top-notch people with varied and essential backgrounds. The information was made public by filing a corporate action with the Nigerian Exchange. […]

Turnall Holdings Limited, a Zimbabwean construction company, has successfully raised the equivalent of $8 million from its existing shareholders in order to fund expansion projects. On June 16 of this year, Turnall made public its aim to fund the local currency equivalent of $8 million in order to create production capacity for fibre cement building goods […]

South African Ukheshe, an integrated finance enabler and provider of Banking-as-a-service (BaaS), has partnered with Diamond Trust Bank (DTB) to offer a BaaS platform in East Africa. BaaS, which comprises the distribution of banking goods and services by third parties, is predicted to develop at a compound annual growth rate (CAGR) of 25% in a […]

Mastercard has established a strategic relationship with Ingiz, a family financial management start-up in Egypt funded by Masria Digital Payments. The collaboration is aimed at building a cutting-edge digital payments application with a view to promoting financial inclusion and literacy among Egypt’s teeming youth population.  This is a huge step towards financial empowerment since this […]

The management of Glamera has noted that acquiring the fintech licence “SoftPOS” from Saudi Payments, the primary payment system in Saudi Arabia, established by the Ministry of Finance under the supervision of the Saudi Central Bank, will “unlock new horizons of growth and deliver an unparalleled customer experience” in the Saudi market.  Saudi Payments was […]

To facilitate the launch of contactless payments in Kenya, Visa is collaborating with Kenyan financial institutions and technology startups so that customers will be able to conduct business without needing to carry a wallet or card with them physically. Customers can utilise the Thales-powered service to make in-store purchases using their banking app by tapping […]

Mastercard will end its relationship with Binance, the biggest cryptocurrency exchange in the world, by the end of next month. The four-year partnership, which gave Binance users in Argentina, Brazil, Columbia, and Bahrain access to services, will stop on September 22, a MasterCard spokesperson said in an email on the same day. Mastercard’s other crypto […]

Eyowo, a Nigerian digital bank, has assured their customers that their funds would be retrieved as the company is close to resolving the issues they have with the Central Bank of Nigeria.  This assurance was given by the bank’s CEO and co-founder, Yomi Adedeji via a Twitter space organised by the company over two months […]

The leading supplier of e-payment solutions in Egypt, Fawry, has publicly announced plans to transform its myFawry online payment platform into a full-fledged digital bank by 2023. A recent bourse announcement disclosed this game-changing development, marking the beginning of a new era for Egypt’s financial industry. Fawry’s innovative digital bank will provide customers with a […]

Cellulant, a payments company based in Kenya, has decided to lay off twenty percent of its workers.  The company says this reorganization process will likely be put into action in the coming days.  Cellulant is currently going through a process of reorganisation that will have an impact on one-fifth of its staff. In a statement […]

HelpMum, a business based in Nigeria that focuses on maternal health, has been chosen as one of the 10 companies that will take part in the 2023 Chat for Impact Health Accelerator, which is being organised by Turn.io in cooperation with WhatsApp and The Agency Fund.  The Chat for Impact Accelerator hopes to amplify the […]

The Competition Authority of Kenya (CA) has approved the acquisition of Kopo Kopo, a Kenyan firm that offers payment services and business lending, by Moniepoint Inc., a fintech company that focuses on providing financial solutions for businesses. This recent development signifies a momentous advancement for Moniepoint, known as TeamApt, as it tactically extends its presence […]

Kora, a prominent pan-African payment infrastructure firm, and Finextra, a financial technology news and information portal, have joined forces to give a comprehensive examination of Africa’s economic landscape in a white paper titled “The Future of Fintech in Africa, 2023.” In this joint paper, experts from Kora, Finextra, Binance, Yoco, and six other firms present […]

Safaricom, one of the biggest phone companies in Africa, has stated that M-Pesa mobile money services are now available in Ethiopia.  This change comes after the company got a license to do business from the National Bank of Ethiopia in May. All Safaricom Ethiopia customers are now able to use M-Pesa by dialing *733# on […]

Google West Africa made a presentation to the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE,in Nigeria where it introduced its new Director for the continent, Mr. Olumide Balogun.  In the presentation, Google made a commitment to further develop the existing partnership between the two organizations. Mr. Balogun, who led […]

Founders Factory Africa (FFA), an early-stage accelerator and investor based in South Africa, successfully generated $114 million this week.  The company intends to make use of the impact financing provided by the Mastercard Foundation and Johnson & Johnson Impact Ventures in order “to scale its model to better serve founders across the African tech ecosystem.” […]