The African financial system is broken and requires innovation to fix it. Despite attempts by new financial technology firms to fill the gaps that exist, the foundation of the entire ecosystem, which is traditional finance backed by government-issued currencies and institutions, has left some gaps still wide open. The creation of blockchain technology and the…
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Africa’s fintech startup ecosystem grew in size by almost 20 per cent, and saw US$2.7 billion in investment flood in, over the last 24 months, according to a new report released today by Disrupt Africa. Every two years since June 2017, Disrupt Africa has released the Finnovating for Africa publication, which tracks the extraordinary development…
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According to QoreID, access to credible consumer data has been identified as a critical layer that will enable a viable open finance system in Africa. Sarah Essien, Chief Operating Officer of VerifyMe Nigeria, a digital identity and Know-Your-Customer (KYC) technology company with a head office in Lagos, states that the quest for a sustainable open…
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Originally published here When designing and building systems that follow a service-orientated paradigm, we find that the complexity of securing the overall system and choosing a pattern for authentication can be challenging. Building a centralized monolithic system would mean that your authentication and authorization are also central, that there is one authority determining which end-users…
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NowNow, a Nigerian digital system startup, has closed a $13 million seed round to scale and expand its service offerings across Africa. The funding round was led by NeoVision Ventures Ltd., DLF Family Office, and Shadi Abdulhadi. With the new funding, the startup said it will improve financial inclusivity across Africa and drive empowerment, as well…
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MNT-Halan, Egypt’s first unicorn and the country’s leading and fastest growing fintech ecosystem, has won Global Finance’s award for Most Innovative Financial Technology Company in the Middle East, and Most Innovative Financial Technology Company in Africa. The only company to win two awards out of the 18 winners, MNT-Halan appears alongside Revolut, the Bank of America,…
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Beyond all the hype, blockchain technology has multiple use cases that could bring positive changes to various sectors on the African continent. Some critics dismiss blockchain technology or reduce its application to only cryptocurrencies. However, the application of blockchain tech has evolved over the years with more attempts to create real-world impacts. In this article,…
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It’s almost 2024, and everyone is making projections into the new year. 2023 continued Africa’s study growth in the Web3 industry with more adoption and innovation. The list of African-owned or based Web3 projects continues to increase as various innovators find ways to use blockchain technology to fix some of the biggest issues on the…
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