In a strategic move to advance Africa’s digital economic development, the Africa Fintech Network (AFN) has unveiled its newly appointed Board of Directors for the period 2023 – 2026. The board comprises accomplished professionals drawn from various disciplines across the continent, reflecting AFN’s commitment to catalyzing Africa’s fintech landscape. AFN’s Mission and Milestones Founded in […]

In a strategic move to empower its customers with enhanced financial control, Kroo Bank is set to launch its revolutionary feature, ‘Kroo Pots.’ Responding to the fervent requests of its user base, Kroo aims to redefine the way individuals manage and allocate their funds, fostering a sense of financial empowerment in the year 2024. A […]

Africa’s pioneer metaverse, Africarare is getting ready to launch the $Ubuntu Token, a virtual token that will act as a medium of exchange for both customers and merchants in the virtual marketplace. Developed by the innovation business Mann Made, situated in Johannesburg, Africarare is an immersive 3D virtual reality hotspot. The Web3 platform, driven by […]

Visa, a global leader in digital payments, has opened the application process for the second cohort of its Africa Fintech Accelerator program. The announcement was made at Fintech Day in Morocco, where industry experts gathered to explore opportunities for enhancing digital payments and financial inclusion in the country. The initiative aims to support Seed to […]

Smile ID, a leading digital KYC provider in Africa found that 80% of fraud attacks on the continent target national IDs, making them Africa’s most targeted document type after completing over 100 million identity verifications in the past five years. The most vulnerable ID is the Tanzanian, with 32% attempted fraud. According to the research, […]

Nigeria’s financial system faced fraud in 2014. In response, the Central Bank and all banks launched the Bank Verification Number. To prevent unlawful transactions, this 11-digit identity was connected to fingerprints and facial scans.  After initial security concerns, the BVN succeeded. Increased financial inclusion, decreased fraud, and simplified credit checks. It protects banks and clients […]

AfriLabs, an organisation that supports innovation hubs, has established the AfriLabs Connect Deal Room (ACDR) in response to the pressing need to find, finance, and gain access to investible startups across Africa.  By facilitating connections between I got a housevarious ecosystem participants—including technology hubs, startups, investors, and more—AfriLabs aims to propel innovation and entrepreneurship across […]

Y Combinator has selected Miden, a Nigerian startup that uses its API to let businesses issue virtual cards to customers for their winter 2024 batch.  Miden is the second Nigerian startup to join this year’s winter cohort, following Cleva, a cross-border payment service. Okiemute Avworhokai and Ini Udoh established Miden in 2022 to facilitate businesses’ […]

In a pioneering move to revolutionise the service industry, Pesapal has introduced Pesapal Tips, an innovative cashless tipping solution seamlessly integrated into the Sabi Point of Sale (POS) machine.  This groundbreaking feature aims to streamline the tipping process, allowing customers to express their appreciation for outstanding service without the need for physical cash. Simplifying Tipping […]

In a landmark initiative, the United Nations (UN) commemorates the first International Day of Clean Energy on January 26, 2024. The focus of this inaugural day is to raise awareness, engage global citizens, and encourage leaders to embark on a just, inclusive, and equitable transition towards clean energy solutions. Aiming for a Sustainable Future The […]

Moniepoint, a leading payments startup, recorded a milestone feat in 2023. Despite industry challenges, the fintech juggernaut averaged a staggering 433 million monthly transactions across its diverse channels – web, mobile, card, and in-person payments. The internal company presentation revealed a remarkable closure to the year with an impressive 5.2 billion transactions, valued at over […]

The Financial Sector Conduct Authority (FSCA) of South Africa has raised alarm on the public involvement in MMM Krypto, a mutual aid fund, citing potential risks.  The FSCA reveals that MMM Krypto might be offering financial services to the South African public through social media platforms like YouTube, TikTok, and Facebook, accompanied by enticing promises […]

In a heated competition within the African fintech landscape, LemFi emerges victorious as the Nigerian Tech Product of the Year for 2023.  Formerly known as Lemonade Finance, LemFi has become a game-changer in cross-border payments, simplifying remittances for immigrants across 12 African countries. Hosted by Fatu Ogwuche of Big Tech This Week, The Crossover Show […]

The Nigerian Data Protection Commission (NDPC) is investigating 17 significant data breaches in banking, technology, education, consultancy, government, logistics, and gaming/lottery.  NDPC National Commissioner Dr Vincent Olatunji said this at Global Data Privacy Day in Abuja.  In addition, the commission received over 1000 data breach complaints, prompting investigations. Olatunji said the commission’s efforts in the […]

Carry1st, a video game studio based in Cape Town, South Africa, has announced a strategic partnership with Sony, the Japanese consumer electronics and gaming giant, via its Sony Innovation Fund venture arm. The partnership, which was revealed exclusively to CNBC, will involve a range of commercial opportunities for both companies, as they explore ways to […]

The Federal Government says it is almost ready to digitise all public services so that the country can take advantage of the benefits of the digital economy and make sure that people’s data is safe.  It was said by Dr Bosun Tijani, Minister of Communications, Innovation, and the Digital Economy, at a news conference on […]

Samsung has replaced Google’s Gemini models with Baidu’s Ernie AI technology in its Galaxy S24 series for China.  Samsung Electronics China revealed during the Galaxy S24 Chinese launch event that Baidu’s Ernie AI would enable Galaxy AI capabilities, including translation and summary. The Chinese launch exclusively featured Baidu’s Ernie chatbot, which debuted in August last […]

Under the new name “NITDA-Co-Create West Africa Tech Week,” the Annual Co-Create Africa International Tech Expo will take place from February 28th to March 2nd, 2024, to be hosted by the GAUGE Company at Eko Hotels and Suites, Lagos, Nigeria.  Over 10,000 attendees and 150 exhibitors will be in attendance at the 2-day technology exhibition […]

Meta’s 2Africa sublease cable is expected to arrive in Nigeria in February, targeting one million digital jobs beginning in two major Nigerian cities, Lagos and AKwaIbom. While inaugurating the new American Corner in Lekki, Lagos, United States Secretary of State Anthony Blinken affirmed this in Lagos.  According to Blinken, American businesses are helping President Bola […]

Electric cars aren’t as popular in Africa as in other places.  However, a new wave of Chinese automakers is changing that as they try to compete with the West’s dominance in the industry and lead the way in reducing carbon emissions on the continent. BYD [Build Your Dreams], an electric vehicle (EV) company based in […]