Egypt’s top fintech business and first unicorn announced its entry into the UAE market on Wednesday as a significant step toward regional expansion. MNT-Halan will provide creative and easily accessible financial solutions to underprivileged communities and enterprises through its financial super app. Halan Advance, the company’s quick, safe, and easy-to-use salary financing solution, is its […]

Billboxx, a Nigerian fintech startup, announced on December 11, 2024, that it has successfully raised $1.6 million in a pre-seed funding round. Founded in early 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx aims to address the cash flow challenges faced by small and medium enterprises (SMEs) across Africa.  The platform provides integrated billing and […]

The Central Bank of Nigeria (CBN) has intensified its oversight on the fintech sector, imposing ₦1 billion fines on two of Nigeria’s fintech unicorns, Moniepoint and OPay, in the second quarter of 2024.  The fines stemmed from a routine audit conducted by the CBN to ensure compliance with regulatory standards. The inspections, standard procedure for […]

NIB International Bank (NIB) has partnered with Mastercard to launch the Prepaid Mastercard, a flexible and safe payment option that offers Ethiopian customers smooth, local and international transaction capabilities, to commemorate the bank’s 25th anniversary. The announcement of the partnership was revealed on Mastercard’s news blog on Thursday, December 5. This accomplishment demonstrates the mutual […]

As part of an ambitious regional development strategy, Fawry for Banking Technology and Electronic Payments, a pioneer in Egypt’s fintech scene, is looking to expand to Saudi Arabia. The action aligns with the organisation’s overarching goal of expanding its investing, lending, and insurance services offerings while tapping into the Egyptian market. Read also: Bank of […]

Through a partnership with Mastercard, the BCP Group will use the money movement capabilities offered by Mastercard Move to improve the ability of its business and individual customers to make payments across international borders. The agreement aims to make cross-border payments that are almost instantaneous, traceable, secure, and cost-effective to and from the various markets […]

The Bank of Tanzania (BOT) has opened applications for its Fintech Regulatory Sandbox, which will be open from January 2 through 22, 2025. This project aims to foster innovation and financial innovations by providing a regulated testing environment. Under the Bank of Tanzania (Fintech Regulatory Sandbox) Regulations 2024, the sandbox was created to facilitate the […]

The Office of the Data Protection Commissioner (ODPC) has fined NCBA Bank Kenya PLC hundreds of thousands of Kenyan shillings following Dr Bernard Shiaunda Aete’s complaint that the bank was sending false and misleading loan statement information to a third party (his ex-wife) despite his repeated requests to remove her as an alternate contact. The […]

Waymo has announced a significant partnership with Moove, an African fintech company, on December 5, 2024. Moove will oversee fleet operations for Waymo’s autonomous vehicles in Phoenix beginning in 2025 and Miami in 2026, marking a pivotal point in urban mobility. Read also: Safaricom, Thunes partner to simplify payments for Kenyans, Tanzanians visiting China Moove […]

Cauris Finance has closed a $40 million financing debt facility with an institutional investor headquartered in the United States. setting the stage for an expanded role in supporting African fintech firms. These startups are crucial in combating financial exclusion by providing loans to small businesses and entrepreneurs—key players in Africa’s economy. This funding comes at […]

Premier Bank, one of Kenya’s top Islamic banks, has announced a partnership with Mastercard to launch a cutting-edge line of debit, credit and prepaid cards that adhere to Shari’ah. This partnership, formalised on Thursday, represents a critical turning point in the provision of safe financial solutions that are suited to the various demands of the […]

Renew Capital invested in Konnect, a safe and expandable payment gateway that encourages innovation and financial inclusion, as its first venture in Tunisia. This was announced by Renew Capital on Tuesday. As a payment gateway approved by the Central Bank of Tunisia, Konnect is a leader in digital payment solutions in North Africa. Their platform […]

M-PESA, Safaricom’s mobile money platform, has reached 34 million Kenyan users, marking a new milestone. The platform, which will mark its 18th anniversary in March 2025, has evolved from a basic mobile payment service to a comprehensive financial solution that provides insurance, investments, savings, and credit. “We are immensely proud to reach 34 million M-PESA […]

Mastercard has partnered with the Nigerian B2B e-commerce business Alerzo and the USAID-funded e-Trade Alliance to fast track the digital transformation of MSMEs in Nigeria. By year’s end, this program hopes to empower more than 10,000 small enterprises, encouraging sustainable growth and financial inclusion. Veedez, a tool for digital payments and business administration, and Alerzoshop, […]

Zenith Bank Plc on Wednesday was honoured with prestigious “Bank of the Year, Nigeria” title at the Banker’s Bank of the Year Awards 2024, which was held in London. The award, sponsored by The Banker Magazine, Financial Times Group, UK, was given in recognition of the company’s excellent management, effective business plan and strategy, and […]

MasterCard and Mobile Money Rwanda Limited (MoMo Rwanda) have partnered to introduce Virtual Card by MoMo, Rwanda’s virtual payment solution that enables MoMo customers to make international e-commerce payments. With a virtual card, MoMo customers can now shop or make payments at international MasterCard-accepting businesses. The statement on its LinkedIn page on Tuesday reads, “We […]

Swypex and Visa launched their partnership on Monday, which will transform business payments in Egypt. This alliance is more than just a commercial agreement; it’s a big step towards modernising the financial environment for small businesses. In a country where many businesses still rely on traditional banking methods, this partnership aims to provide innovative solutions […]

Francophone Africa’s fintech ecosystem has received a major boost as Hub2, a startup simplifying national and cross-border payments, secures €8 million (US$8.4 million) in Series A funding. Founded in 2019 by Ashley Gaüzère and now co-led by Jean-Rémi Kouchakji,Hub2 aims to expand its reach across the region, providing a single API solution for businesses to […]

Safaricom and Vodacom Group‘s mobile money joint venture, M-Pesa Africa, has teamed up with international payment company Thunes to make payments easier for mobile money customers visiting China. Through the M-Pesa Super App, the partnership will enable consumers in Kenya and Tanzania to pay Chinese retailers using their M-Pesa wallets. Safaricom clients in Kenya and […]

Talk360 announced the launch of NjiaPay on Tuesday, its new payment platform, which will function as a stand-alone business under the direction of a skilled group of fintech professionals. With 54 countries with disparate currencies, financial systems, and regional payment methods, NjiaPay seeks to address the intricate problems of Africa’s fragmented payment landscape. “We are […]