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Fintech

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Nigeria’s Digital Lending Boosted by FirstBank

Nigeria is on the edge of a financial revolution in the rapidly changing realm of digital banking. The need for accessible, practical, dependable financial services has never been more significant as the global pandemic has hastened digitalization. FirstCredit by FirstBank emerges as an innovative digital lending solution designed to meet the demands of Nigerians, who […]

Staff Writer
21

400 VSLAs Set to Empower Ghanaian Women

In the verdant expanses of North-West Ghana, a transformative initiative is taking root, promising to empower women with the tools for financial independence and environmental stewardship.  A staggering 400 Village Savings and Loan Associations (VSLAs) are being established, with the noble aim of equipping at least 10,000 women with robust financial literacy skills. This ambitious […]

Hauwa Ali Abdul
16

Mama Money, Access Bank, Paymentology launch new WhatsApp-enabled bank card

Mama Money, a cross-border money transfer operator in Africa, has partnered with Access Bank and Paymentology to introduce a groundbreaking bank card service. This new offering leverages the popular messaging platform WhatsApp to provide a wide range of banking services, setting a new standard for financial accessibility and convenience. Through WhatsApp, the Mama Money Card […]

Ibukunoluwa Josephine Bankole
20

Egyptian Fintech Connect Secures $8M Seed Funding

In a seed round led by Disruptech Ventures, Algebra Ventures, and Lorax Capital Partners, Egyptian fintech Connect Money raised $8 million. One Stop and MDP also participated, the company said in a statement recently. Ayman Essawy, Marwan Kenawy, and Momtaz Moussa started the company in 2023. They had already started Dsquares, an Egyptian reward solutions […]

Modupeoluwa Olalere
36

Naira Stability: CBN Opens FX Window to IMTOs

International Money Transfer Operators (IMTOs) may sell foreign exchange in the official window as long as the value of the naira remains relatively stable, according to the Central Bank of Nigeria. The Central Bank of Nigeria (CBN) has announced that eligible International Money Transfer Operators (IMTOs) will now have direct access to the foreign exchange […]

Staff Writer
16

Flutterwave lays off 24 employees amid strategic restructuring

Flutterwave, a leading African payments technology company, has laid off 24 employees, representing 3% of its workforce. This reorganisation is part of Flutterwave’s efforts to streamline operations and focus on its core business areas, particularly enterprise payments and the expanding remittance segment through its SendApp. Olugbenga Agboola, founder and CEO of Flutterwave, emphasised the data-driven […]

Ibukunoluwa Josephine Bankole
16

Fidelity Shield Insurance launches ‘My Afya Shield’ to transform preventive healthcare in Kenya

Fidelity Shield Insurance has launched My Afya Shield, a groundbreaking health coverage product aimed at advancing healthcare access in Kenya. This initiative underscores Fidelity Shield’s commitment to preventive healthcare and wellness enhancement for its members. My Afya Shield offers a comprehensive suite of benefits, including access to medical treatments, vaccines, counselling services, mental wellness support, […]

Ibukunoluwa Josephine Bankole
36

Access Bank acquires majority stake in Tanzania’s ABCT

The African Banking Corporation of Tanzania (ABCT) Limited, formerly held by Atlas Mara Limited, has been bought successfully by Access Bank Plc, a commercial bank that encourages and delivers sustainable economic growth that is profitable, environmentally responsible and socially relevant. Following the completion of this deal, ABCT will combine with Standard Chartered Bank Tanzania’s business, […]

Staff Writer
16

Regxta Wins Pitch2Win, Secures $10,000 to Boost Financial Inclusion

Nigerian fintech startup Regxta has emerged victorious in the fourth edition of the Pitch2Win competition, securing a substantial reward of US$10,000 in funding without equity requirements. Additionally, the startup has earned a fully-funded opportunity to attend IVS2024 in Kyoto, recognised as Japan’s premier conference for startups. Read also: Fintechs pioneering financial inclusion in Nigeria, says World […]

Ibukunoluwa Josephine Bankole
16

Paystack Expands Virtual Terminal to Ghana, Côte D’Ivoire, Kenya, and South Africa

Paystack has introduced its Virtual Terminal product in new markets, including Ghana, Côte D’Ivoire, Kenya, and South Africa. First introduced in Nigeria in 2021, the virtual terminal offers a hardware-free solution for businesses accepting in-person payments, such as retail stores, restaurants, or pay-on-delivery services. Overview of paystack’s Virtual Terminal The Virtual Terminal is a versatile, […]

Ibukunoluwa Josephine Bankole
20

Ukheshe’s Journey to EFT Corporation

Ukheshe has officially changed its name to EFT Corporation. The move combines Ukheshe’s cutting-edge digital solutions and EFT Corporation’s broad reach and deep knowledge under a single brand, making it a leading force for financial inclusion in Africa.   Why Ukheshe Rebranded to EFT Corporation After acquiring EFT Corporation in January 2024, Ukheshe rebranded it as […]

Modupeoluwa Olalere
16

Kenya’s Central Bank to issue payment licences to Flutterwave, Chipper Cash, others

The Central Bank of Kenya (CBK) plans to issue payment licences to fintech startups, signalling a significant shift that will open up East Africa’s largest payments market. Among the fintech companies hoping to benefit from this are Flutterwave and Chipper Cash. Payment Licences Regulatory Framework Update CBK Governor Kamau Thugge announced that the regulator is […]

Ibukunoluwa Josephine Bankole
36

SOFTtribe boosts Ghana’s digital economy with innovative fintech solutions

Softtribe, a fintech pioneer and software development company, has unveiled its journey in Ghana and has contributed to the growth and development of the country’s fintech industry. Softtribe has been at the forefront of fintech innovation in Ghana, developing various financial solutions and contributing to the country’s financial inclusion and digital economy growth Softribe was […]

Staff Writer
21

CBK to Give Payment Licenses to Fintech Startups

The Central Bank of Kenya has pledged to issue payment licenses to fintech startups to open East Africa’s largest payments market—a significant stride meant to foster innovation humped by growth in the financial technology sector and, therefore, a significant boost to companies like Flutterwave and Chipper Cash. This milestone brings greater financial inclusion to our […]

Hauwa Ali Abdul
36

Egypt’s Sahl raises dual rounds at $6 million

Sahl, an Egyptian fintech firm, raised $6 million in Series A and early rounds to engage with government institutions as a family payment hub. The round was led by the Egyptian investment firm Ayady for Investment and Development, joined by previous investors Egypt Pay, Delta Electronic Systems, and E-Finance. By enhancing current products and creating […]

Staff Writer
21

Wowzi and MDP: Transforming Financial Management for Creators

Imagine living in a world where all your financial transactions could be completed with a simple wave or tap of the wrist. That is the idea behind Mastercard’s most recent endeavour, a $2.04 million investment into the digital content space through a partnership with Wowzi and MDP. They are creating a new reality for content […]

Hauwa Ali Abdul
20

Wema Bank Uses Facial Recognition to Boost Platform Security

Wema Bank, a well-known bank in Nigeria, has recently formed a strategic relationship with Daon, a well-known worldwide company focusing on digital identity and trust solutions.  This partnership aims to make Wema Bank’s digital platform safer by adding cutting-edge face recognition technology. The move was made in response to several events and is meant to […]

Modupeoluwa Olalere
16

Fintechs pioneering financial inclusion in Nigeria, says World Bank report

A new report by the World Bank highlights the pivotal role fintech companies play in bridging Nigeria’s financial inclusion gap through mobile money, digital payment platforms, and wallets.  The report suggests that Africa’s financial services market could expand by approximately 10 per cent annually, reaching $230 billion in revenues by 2025, with Nigeria’s fintech sector […]

Ibukunoluwa Josephine Bankole
20

Fiter’s Impact on Nigerian Fintech Landscape

Fiter, a market leader in financial technology solutions, has achieved a significant milestone by successfully overhauling the Fineract system of a prominent Nigerian fintech firm. This rejuvenated the business and made it a fintech leader in Nigeria. As Nigeria’s banking industry evolves, the reform is timely. These changes are caused by digitisation and legislative changes […]

Modupeoluwa Olalere
21

Tala’s Success at Africa Bank 4.0 Awards

Tala, a pioneering fintech company that provides digital lending, savings, and money transfer services, has been honoured with the Most Inspiring Fintech in Digital Lending award at the prestigious Africa Bank 4.0 Awards.  The Africa Bank 4.0 Awards, held on 6th June, celebrates excellence and innovation in the banking and fintech sectors across the continent.  […]

Hauwa Ali Abdul
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