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A roundup of industry news from across the African fintech and decentralised finance (DeFi) ecosystem.
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African Tech Ventures Unlocking UK Capital Markets and Exits

Africa Tech Summit London returns for its eighth edition on June 7th, at London Stock Exchange (LSE), to drive investment and capital, while boosting business and connections between African and European stakeholders. The Summit, kindly supported by Amazon Web Services, IFC, London Stock Exchange, Tether Data, Madica VC, Verto, Goodwin, Department for Business & Trade, Flutterwave,…

TBD Expands in Africa, Adding Chipper Cash to Growing tbDEX Ecosystem

TBD, part of Block, which is focused on creating open and decentralized technologies to connect the financial world, today announces that leading African fintech Chipper Cash has integrated with the tbDEX protocol to power cross border payments and decentralized identity use cases for individuals and businesses on the African continent. “Across Africa, the challenges of…

Crypto Sector is Focused on Getting SA Off the Greylist

South Africa is making progress in addressing the factors that contributed to the country being placed on the Financial Action Task Force (FATF) greylist in 2023. Crypto industry leaders are playing their part in efforts to have the country removed from the list. This is according to Luno, a licensed financial service provider and South…

Tether and Bitnob Collaborate to Educate Ghanaian University Students on Bitcoin and Stablecoins

Tether Operations Limited, the largest company in the digital asset industry, and Bitnob, a financial technology company that enables payments into mobile money wallets and bank accounts, are announcing a strategic collaboration aimed at promoting financial education on Bitcoin and Stablecoins in Africa. The collaboration will feature a series of educational events hosted by Bitnob…

Africa Tech Summit London Announces 15 Ventures for the 2024 Investment Showcase at London Stock Exchange on June 7th

Africa Tech Summit (ATS) London will celebrate the eighth edition at the London Stock Exchange on June 7th, 2024, and is thrilled to announce the 15 tech ventures that will join the ATS Investment Showcase 2024. The ATS London Investment Showcase provides ventures with the opportunity to present their businesses to leading African tech investors, corporates,…

MNT-Halan Named Most Innovative Financial Technology Company in Both Middle East and Africa in Global Finance Awards

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,…

Crypto Asset Class About to Take Off in South Africa as the Sector Becomes Licensed and regulated

Cryptocurrencies currently form a small portion of total investment capital in South Africa managed by fund managers, wealth managers and financial advisors. However, the recent approval by the Financial Sector Conduct Authority (FSCA) of several financial service provider licences could change this. This is one of the key issues explored in a new report by…

FSCA Awards Licence to Luno, SA’s Largest Crypto Asset Service Provider

South Africa’s largest and oldest crypto asset service provider, Luno, has secured a licence from the Financial Services Conduct Authority (FSCA) to operate as a financial services provider. Luno is the first dedicated crypto asset service provider in South Africa to be awarded its financial services provider licence following the FSCA’s declaration of crypto assets…

Tappi’s Collaboration with MTN Spurs Expansion in Cote d’Ivoire

Tappi, the end-to-end digital commerce SaaS solution tailored for Africa’s micro, small and medium-sized businesses (MSMEs), has today announced its expansion into Côte d’Ivoire. Building on its rapidly growing operations in Kenya and Nigeria, tappi’s latest country launch will feature an extension of its existing partnership with telecom giant, MTN, marking a significant step forward…

Top Use Cases of Blockchain Technology in Africa 

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,…

Top 5 African Web3 Projects To Keep An Eye on in 2024

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…

How BluPay is Empowering Merchants in Africa

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Building TRUST in Social Commerce

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Building The Future of Web3 In Africa

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

The Future of Digital Financial Services

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

African Fintech Investment Outlook and Insights

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Market Trends & Demand for Financial Management Solutions For Freelancers & Businesses In Africa

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Payments and Banking in Africa: The Gap In The Market; The Market In The Gap

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Regulation Demystified – How To Understand The Basics of Regulations & Compliance

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Fraud Risk Mitigation with AWS Machine Learning Services

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Payments Opportunities: Cross Border Trade & Remittances

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Connecting the Americas to Africa on Hedera

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Crypto In Africa – What’s Trending & What’s Next?

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Leveraging FinTech for Economic Growth

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Masterclass: Accelerate Your Web3 Journey With AWS

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Unpacking Financial Innovation, Regulation and CBDC’s

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

Enhancing Merchant Settlement Through Flutterwave on Hedera

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

INTMAX has unlocked crypto payments

Join us for the next edition of Africa Money & DeFi Summit taking place at Africa Tech Summit Nairobi on 14th & 15th February 2024. On October 3rd & 4th 2023 Africa Money & DeFi Summit hosted leaders and stakeholders from across the African Finetch, Web3, DeFi and tech ecosystem, who listened and learned from...

M-KOPA Expands to Ghana, Unlocking $10m in Credit for Customers

M-KOPA, a leading African fintech platform, today announced the official launch of its flexible digital financing model in Ghana following a successful pilot phase. The strategic move to expand its operations makes Ghana the second West African country for the company, strengthening its Pan-African footprint to provide financial and digital inclusion for underbanked customers. The…

Redefining International Payroll and Payments in Africa & Beyond.

The year 2020 saw the world begin to adjust to living in a pandemic, with numerous global organisations switching to working either fully remotely or  adopting a hybrid working system. Now workers consider office days requirements and work-from-home allowances before applying to companies or accepting jobs. According to some statistics, 58% of Americans work from…

The Africa Money & DeFi Summit 2023: Catalyzing the Financial Revolution in Africa

By TradingView The creators of the Africa Tech Summit are getting ready to organize the most eagerly awaited event of the year in the African financial sector: the Africa Money & DeFi Summit West Africa 2023. And to ensure the success of this event, the Africa Money & DeFi Summit has partnered with key players…

Africa Money and DeFi Summit and Amazon Web Services Partner to Drive Digital Transformation in Africa

Africa Money and DeFi Summit, creators of Africa Tech Summit are delighted to announce its partnership with Amazon Web Services (AWS) a subsidiary of Amazon.com, to drive digital transformation in Africa. With an unmatched legacy of 12 consecutive years as a Gartner Cloud Infrastructure and Platform Services (CIPS) Magic Quadrant leader, AWS brings its unrivaled…

Turaco acquires MicroEnsure Ghana to deepen affordable insurance coverage across Africa

Turaco, Africa’s leading tech-enabled affordable insurance company, today announced the acquisition of MicroEnsure Ghana, a pioneering microinsurance company from MIC Global. Under the deal, MicroEnsure will rebrand as Turaco Ghana and retain the expertise of the existing team and leadership. The acquisition is part of Turaco’s long-term vision to provide simple and accessible insurance to…

The State of Web3 in Ghana

Ghana is one of the bright spots in Africa’s cryptocurrency story. The West African country has often been touted as a state with immense potential and one of the candidates for major cryptocurrency adoption on the continent. In this article, the Africa Money & DeFi Summit looks at the state of the cryptocurrency industry in…

Ugandan Fintech startup, Emata has raises $2.4M

Emata – the agricultural finance solution for East African farmers – announces on their LinkedIn page its successful completion of a $2.4 million seed fund raise, comprising $800,000 in equity and $1.6 million in on-lending capital. The fundraise was backed by African Renaissance Partners – the VC firm investing in entrepreneurs in East Africa and…

Yellow Card and MoonPay collaborate to enhance crypto accessibility in Nigeria

In a significant move towards expanding cryptocurrency accessibility in Nigeria, Yellow Card, a pioneering African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem. This strategic partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers. Nigeria has emerged as a powerhouse in…

9 Ventures Announced for the Africa Money and DeFi Summit Investment Showcase

Africa Money and DeFi Summit has announced nine ventures selected to showcase their cutting-edge Web3, Blockchain, Fintech, and Decentralised Finance (DeFi) businesses to investors and industry leaders, live on stage, in Accra, Ghana on October 3rd and 4th. With a focus on forging connections and bridging the gap between African ventures, corporates and global investors,…

Opera Launches MiniPay, a New Stablecoin Wallet Built on the Celo Blockchain, to Onboard Millions of Users Across Africa to Web3

Opera, a global web innovator, unveils MiniPay – a blockchain-based wallet built on the Celo blockchain. Directly integrated into the Opera Mini  browser, MiniPay makes it easier and more affordable for individuals across Africa to acquire and to send or receive stablecoins – simply by using mobile phone numbers. Leveraging the unique benefits of Celo’s…

How can DeFi power the African financial system?

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…

Top Cryptocurrency Markets in Africa – 2023 Update

The African cryptocurrency market continues to evolve as more people adopt cryptocurrencies, new companies are started, and regulators make new pronouncements. Despite the evolution, more has stayed the same regarding the spread of adoption geographically. In this article, we explore the top cryptocurrency markets in Africa in 2023. Since cryptocurrency adoption on the continent became…

Transforming Cross-Border Payments: How Wewire Africa is Bridging the Gap from Africa to Tier One Countries

By: Ebenezer Ghanney, Co-founder and CEO of Wewire Africa. Cross-border payments have long been a challenge for individuals and businesses in Africa seeking to engage with tier-one countries such as the United States, the United Kingdom, and Europe. The complex web of regulations, high costs, and limited access to traditional financial services have hindered economic…

New report tracks growth of African fintech ecosystem, and explosion in funding, since 2021

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…

The Case for Open Finance

By Adesola Sanusi We’ve evolved from cash and piggybanks to physical banks, and we’re now moving into a cashless world with digital connectivity and financial services at your fingertips. Open finance broadens financial access beyond traditional bank accounts. Its potential lies in open access to financial data, increased transparency, and vast innovation. This transformative approach…

Mastercard to Buy Stake in MTN’s $5.2 Billion Fintech Unit

By Bloomberg Mastercard Inc. agreed to take a minority stake in the financial-technology business of MTN Group Ltd., Africa’s biggest wireless carrier, sending the telecom company’s stock up the most in three months. The size of Mastercard’s stake won’t be disclosed until the transaction closes, but MTN said Monday that the deal values the entire…

Vista Group agrees to acquire Oragroup (Orabank) from Emerging Capital Partners, Proparco, DEG, BIO and Envol Afrique

Vista Group has agreed with ECP, BIO, DEG, Proparco and Envol Afrique to acquire, subject to regulatory approvals,  61.4% of Oragroup S.A, the holding company of Orabank based in Lomé and operating in 12 West and Central African countries (Togo, Cote D’Ivoire, Benin, Senegal, Burkina-Faso, Guinea, Guinea-Bissau, Mali, Niger, Tchad, Gabon, Mauritania) with total assets of…

Moove raises investment from Mubadala and BlackRock and announces $76m in total new funds

Moove, the world’s first mobility fintech, announces today that it has secured $76m in new funding, consisting of $28m in equity from new and existing investors, in a process led by Mubadala Investment Company (Mubadala), $10m venture debt from funds and accounts managed by BlackRock, and $38m in previously undisclosed funds raised during the prior…

Flutterwave rebrands Send and expands to Egypt, US & Canada

Flutterwave, Africa’s leading payments technology company, today announced the enhancement of its $end Mobile product, now Send App by Flutterwave, to facilitate faster, easier, and more affordable money transfers from people in the diaspora to their families, friends, and loved ones in Africa. Send App now supports transfers from US and Canada and has added…

African Fintech and Web3 Leaders to Convene at the Africa Money and DeFi Summit in Ghana

The Africa Money and DeFi Summit, supported by Amazon Web Services, Pivo and Fonbnk, aims to connect African fintech and Web3 industries with international players and will take place in Accra, Ghana on October 3rd and 4th, 2023. With a focus on driving tech investments and fostering collaborations, industry experts, investors, regulators including Bank of Ghana,…

Web3 – The Power of DeFi and Crypto for Africa

Panel session on Web3 - The Power of DeFi and Crypto for Africa featuring expert views and insights from Maya Caddle - Founder at Emerging Onchain (Chief of Staff at Nestcoin), Stone Atwine - CEO and co-founder at Eversend, Isha Varshney - Head of DeFi at Celo Foundation and moderated by Tage Kene-Okafor - Reporter...

Understanding Generative AI: Going from Idea to Product

Masterclass: Understanding Generative AI: Going from Idea to Product hosted by Jenny Vega - Solutions Architect at Amazon Web Services Africa Tech Summit London celebrated its sold-out 7th annual edition at the London Stock Exchange on June 23rd 2023 unpacking the latest insights on investing, payments, Web3, digital identity, cross-border trade, agtech, ecommerce, cloud, foodtech,...

Mastercard and Lipa Later Group Join Forces to Drive Financial Inclusion

Mastercard has announced a strategic partnership with Lipa Later, a leading credit led and technology-driven fintech. This collaboration aims to accelerate the expansion of Buy Now, Pay Later (BNPL) payment services in Africa. The partnership is expected to unlock new opportunities for consumers and merchants by providing tailored BNPL solutions and enhanced payment capabilities. By…

Remedial Health raises $12 million to deliver financial services for neighbourhood pharmacies

Remedial Health, a healthtech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has secured $12 million in an equity and debt funding round to deepen the penetration of its services in Nigeria and support the delivery of targeted financial services to drive business growth across the country’s pharmaceutical sector. The $8…

Mastercard partners with Alerzo to digitize SMEs in the Nigerian FMCG space

Mastercard, a global leader in financial services, has joined forces with Alerzo, Nigeria’s leading technology service provider, to address the challenges faced by small and medium-sized enterprises (SMEs) in Nigeria’s Fast-Moving Consumer Goods (FMCG) sector. This partnership aims to empower businesses by offering digital payment solutions, financial training, and access to credit, ultimately leading to…

New report from Duplo reveals that Nigeria trails South Africa and Kenya in Africa’s B2B payment revolution

A new report from Duplo, a business payment platform for African businesses of all sizes,  has revealed that Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including adoption of electronic bank transfers, speed of processing invoices and payment automation. According to the Exploring the State of B2B…

The Investment Landscape – What is trending

Panel session The Investment Landscape - What is trending?  Featuring insights and views from Olaleye Oladimeji - Managing Partner at Legalpreneur Consulting, Duncan Muchangi - Principal at Unicorn Growth Capital, Yvonne Okafor - Investment Officer at Untapped Global, Ayobamigbe Teriba - Venture Sourcing Lead at Founders Factory Africa and Jasiel Martin-Odoom - Africa Investment Officer...

Embedded Finance; Driving Access To Financial Services

Panel session on Embedded Finance; Driving Access To Financial Services featuring insights and views from Alex Christian - Co-founder at DataMynt, Hakeem Akiode - Head of Growth and Marketing at Youverify, Olufemi Olanipekun - Founder at VeendHQ, Jihan Abass - Founder and CEO at Lami and moderated by Thea Sokolowski - Head of Marketing at...

DeFi For Africa – Present To Future

Panel session DeFi For Africa - Present To Future featuring insights and views from Vicentia Asilevi - Director of Operations at Tezos Africa, Adedayo Adebajo - Managing Director at Jelurida Africa, Cannelle Maricaux - Founder and CEO at Koolute Investments and moderated by Elisha Owusu Akyaw (aka GhCryptoGuy) at CoinTelegraph. On September 27th & 28th...

Stablecoin, Crypto & CBDC, Risks & Opportunities for Ghana

Fireside chat on Stablecoin, Crypto & CBDC, Risks & Opportunities for Ghana featuring insights and views from Kwame Oppong - Head, Fintech and Innovation at Bank of Ghana, Viv Diwakar - Director of Technology Strategy at The HBAR Foundation and Carmelle Cadet - CEO and Founder at EMTECH. On September 27th & 28th 2022 Africa...

Rising Cybercrime in Africa

Keynote delivered by Andrew Mori - CEO at Deimos on the rising tide of cybercrime in Africa, why security at African Fintechs sucks so much and what we need to do about it. On September 27th & 28th 2022 Africa Money & DeFi Summit hosted 400+ attendees from 23 countries who listened and learned from...

Bridging Africa and Caribbean with FinTech

Keynote on Bridging Africa and Caribbean with FinTech delivered by Aldwyn Wayne, Founder & CEO at WiPay. On September 27th & 28th 2022 Africa Money & DeFi Summit hosted 400+ attendees from 23 countries who listened and learned from 100 speakers across a jam packed two days of keynotes, masterclass sessions, fireside chats, panels, pitches...

Bank to the Future

Panel session on Bank to the Future featuring insights and views from Yvonne Okafor - Investment Officer at Untapped Global, Mark Akakpo - Investment Banking Associate at Absa, Meghan McCormick - Co-Founder and CEO of Oze, Michael Kimani - Head of Growth at Fonbnk and Abdul-Jaleel Hussein - COO at Affinity Africa Finance. On September...

Crypto & DeFi in Africa – Where to from here?

Panel session on Crypto & DeFi in Africa - Where to from here? featuring insights and views from Sarah Idahosa - Lead, Nigerian Community and Token Team at Mara, Daniel Kimotho - Kenya Ecosystem Lead at The Celo Foundation, Brian Dennis - Head of Exchange at Bitmama, Alice Tomdio - CFO at Yellow Card and...

TerraPay partners with M-PESA to facilitate cross-border remittances

TerraPay, a global payments infrastructure company has announced its partnership with Safaricom, Kenya’s telecommunications, IT and financial services provider. Together, both companies will usher in the benefits of financial inclusion by facilitating instant borderless payments. The partnership, through TerraPay’s group company Mobex (Kenya), a licensed Money Remittance Provider, will enable more than 30 million M-PESA…

Exness expands its Fintech Scholarships program to Kenya

Multi-asset broker Exness is extending its popular Fintech Scholarships program to Kenya in partnership with the United States International University (USIU). The program aims to support outstanding university students in the STEM field in Kenya. It is open to third and fourth-year USIU undergraduates in Data Science, Analytics, and Software Engineering or students who have…

MyCover.ai Secures $1.25M Pre-Seed Funding

 MyCover.ai, the insurtech startup building Africa’s digital insurance infrastructure, has announced the close of a $1.25 million pre-seed funding round, today, led by Ventures Platform. The round included participation from Founders Factory Africa and TechStars, who are making a follow-on investment after the startup’s participation in its 2022 Toronto Accelerator program. MyCover.ai will use this capital injection to bolster its…

Egyptian fintech Flash raises $6 million seed round

Flash, Egypt’s new cashless payments app, has raised $6 million seed round to accelerate its product development and customer and business acquisition in the country. The round was led by Addition with participation from fintech venture capital firm Flourish Ventures and other strategic angel investors. Flash has also obtained approval from the Central Bank of Egypt in…

The Bank of Tanzania grants license to DPO Pay

Leading African digital payments provider, DPO Pay, registered under One Payment Tanzania Limited, has received approval from the Bank of Tanzania to operate as a Payment Service Provider (PSP) in the country. The National Payment System Act, 2015 requires all PSPs to undergo a rigorous license application process to provide payment services in Tanzania. DPO…

Moove Closes $8mn Financing from Absa

Moove, the world’s first mobility fintech, has secured USD $8mn in financing from Absa Corporate and Investment Banking (CIB), bringing its total funding to-date from the bank to USD $28mn. This follows Moove’s USD $20mn financing facility from Absa for its South Africa operations announced in June 2022. The new funding will play a crucial…

AZA Finance Launches New Payout Corridors to Empower Businesses in Emerging Markets

AZA Finance, an African fintech company, is a global leader specialising in providing secure and efficient financial infrastructure for payments, foreign exchange, and treasury services. The company recently announced the continued diversification of its global offering by expanding into new corridors in key strategic frontier markets. This expansion includes the introduction of new payout corridors…

Tyme raises $77.8m to fuel global expansion

Tyme, one of the fastest growing digital banking groups in the world, has successfully raised $77.8m from Norrsken22 and Blue Earth Capital. The two new investors have come on-board as part of its pre-Series C capital raise. This comes as the group’s South African flagship, TymeBank, celebrates its 7 million customer milestone this month (12…

Nigeria’s SEC Grants Volition Cap License to Kickstart Fund Management

Volition Cap, an asset management company empowering the hardworking middle-class to create wealth, announced today that it has secured a fund management license from the Nigerian Securities and Exchange Commission (SEC), as of December 2022. This license allows the company to operate as a registered fund manager in Nigeria, as it prepares to launch a…

Figorr raises $1.5 million seed funding to support data-driven insurance for perishable goods in Africa

Gricd, a technology company that develops Internet of Things-powered solutions to support the last-mile delivery of perishable goods, has secured $1.5 million in a seed funding round led by Atlantica Ventures, with participation from Vested World, Jaza Rift and Katapult, to expand across Africa and deliver new solutions that will make it easier to insure…

M-KOPA raises $250m to scale high-impact consumer fintech across Africa

M-KOPA, a leading fintech platform, today announced it successfully closed over $250m in new debt and equity funding to expand its financial services offering to underbanked consumers across Sub-Saharan Africa. This marks one of the largest combined debt and equity raises in the African tech sector, enabling M-KOPA to continue its rapid growth. Over $200m…

Nigerian FinTech Touch And Pay Launches New Booking Solution

Touch and Pay Technologies [TAP], a Nigerian fintech company and leading processor of micro-transactions in Africa, has announced the democratization of interstate travel from Nigeria’s largest city, Lagos, to other parts of the country. It is now possible for passengers to pay for their trips using the Cowry app, even if they are travelling through…

Opportunik Global Fund Set to Break Barriers Through Its African and Diasporan-Focused Investment Fund

Opportunik, a private wealth fund giving Africans and Diasporans access to global investments, announced that it will launch its licensed fund on the 2nd of May 2023. Administered by Accuvise Administrators Limited, a registered fund administrator based in Mauritius, Opportunik Global Fund [OGF] will present a diverse mix of asset classes enabling investors to create…

32 Startups Selected for the Financial Solutions for Migrants Accelerator Program

Village Capital has announced 32 startups operating in Africa, Asia, and the Middle East have been selected to join the Financial Solutions for Migrants program, an accelerator for impact-driven startups developing digital financial inclusion solutions for migrants. The program which is funded by the Impact-Linked Fund for Gender Inclusive Fintech (ILF for GIF), managed by…

ETAP launches Takaful – the first digital car insurance product in Africa that redistributes funds to users

 ETAP, an insurance technology company that creates solutions and incentives to improve the automotive experience across Africa, has launched ETAP Takaful, a new ethical car insurance product that is based on Islamic principles and designed to give back to policyholders and their communities. Unlike conventional insurance, ETAP Takaful is designed to redistribute funds to users and support social…

Apis Partners leads €29M (US$31M) Series A funding for African fintech Peach Payments

Apis Growth Fund II, a private equity fund managed by Apis Partners LLP (“Apis Partners”), a UK-based asset manager, today announces its proposed investment of €29M (US$31M) in Baobab Payments GmbH (trading as Peach Payments), a rapidly growing digital payment service provider that enables online payments in Africa. Completion of the investment is subject to…

Payday Secures $3M Seed Round to Power the Future of Work for Africa

Payday, the leading Pan-African neobank issuing global (USD, EUR & GBP) accounts to Africans, has announced a $3M seed round, led by Moniepoint Inc, with participation from HoaQ, DFS Lab’s Stellar Africa Fund, Ingressive Capital Fund II and angel investors – Dare Okoudjou Founder and CEO of MFS Africa & Tola Onayemi CEO of Norebase….

Curacel secures $3 million seed funding to power new insurance experiences and expand into North Africa

Curacel, Africa’s leading insurance infrastructure provider, has raised $3 million in seed funding to roll out new technology solutions designed to power the next generation of insurance experiences in Africa. The new funding will also support the company’s expansion into North Africa. The seed funding round included Tencent, AAF Management (invested in Sure, Flutterwave), Elefund…

Overcoming the treasury challenges of operating in Africa

Sike Bamisebi – Chief Business Officer, Cellulant shares her insights Africa offers huge opportunities for businesses, but many multinationals struggle to reach their full consumer base on the continent – and, even when they succeed, reconciling payments can be an inefficient drain on resources. A fragmented payments ecosystem is to blame. Sike Bamisebi, Chief Business…

Visa Pledges to Invest $1 billion in Africa to Accelerate Digital Transformation

During the U.S-Africa Business Forum, Visa announced a pledge to invest $1 billion in Africa over the next five years to advance resilient, innovative, and inclusive economies across the continent. Visa’s expanded investments demonstrate the company’s long-term commitment to Africa’s growth potential and will help enable greater access to digital payments as an entry point…

African start-ups at the forefront of digital innovations transforming Africa’s economy

African tech innovators at the recent Africa Money & Defi Summit in Accra, Ghana proved that they are at the forefront of change on the continent, from fintech to agritech. PayBox is a fast growing African fintech start-up cross-border mobile growth engine enabling easy access to offline and online digital payment and business solutions “Africa…

Africa Tech Summit Nairobi 2023- fifth edition to connect 1000+ delegates on February 15-16th

Following a sell out Summit in 2022, Africa Tech Summit Nairobi 2023 will again connect tech leaders from the African ecosystem and international players under one roof on Feb. 15-16 2023. The fifth edition will connect 1000+ delegates, 450+ companies and 150+ speakers across three Summits. Network with key stakeholders including tech corporates, mobile leaders,…

OneOrder secures $3m seed round, led by Nclude with participation from Delivery Hero Ventures and A15

Cairo, Egypt - 05 December 2022 - OneOrder, the MENA-based fintech-enabled restaurant management platform providing food supplies to hotels, restaurants and cafes, has today announced the close of a $3m Seed round. Led by Nclude, this round also sees follow-on investment from leading MENA early-stage VC, A15. New to the round is Delivery Hero Ventures,...

Nigerian fintech startup Pivo raises $2m seed round to expand product offerings

Nigerian fintech startup Pivo has successfully concluded a seed funding round, securing US$2 million. This significant investment will be utilized to enhance their existing products and develop new solutions that revolutionize transaction management and payment reconciliation within supply chains. Founded by duo Ijeoma Akwiwu and Nkiru Amadi-Emina in July 2021, Pivo has already made waves…

Nigerian money app Kuda launches in the UK

Nigerian money app Kuda, announced it is launching in the UK as part of a global expansion drive with a view to serving the cross-border transfer needs of UK-based Nigerians. The company will charge a flat fee of £3 per transfer to a limit of £10,000. Kuda compares this to the average fee of 8%...

Modus launches $75 million Africa-focused fund

Modus, a Venture Platform operating in MENA comprising VC funds, Venture Builders, and a Corporate Innovation arm, has announced the launch of Modus Africa – a $75 million SDG-focused VC fund that will invest in Africa’s boldest startups powered by AI and Blockchain technologies. The fund is led by two General Partners – Vianney Mathonnet and…

African tech leaders and investors connect at London Stock Exchange for the 6th Africa Tech Summit London

African tech leaders, corporates and investors will connect at the London Stock Exchange for the sixth edition of Africa Tech Summit London (ATS), taking place on November 24th. The annual Summit will share insights from leading industry players including; London Stock Exchange, DLA Piper, Alerzo, Deimos, Niji Oni & Co., Cellulant, Paystack, GIZ, Smile Identity, Verto, Flex…

QoreID: Consumer Data, Bedrock of Africa’s Open Finance System

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…

Data Mynt and Alibaba Cloud Partner to Accelerate Crypto Adoption

The partnership includes three parts: first, enabling Alibaba Cloud customers to pay for their Cloud services using Data Mynt’s crypto as currency option; second, listing and selling Data Mynt services to Cloud customers on Alibaba Cloud International Marketplace; and third, bringing advanced, secure and reliable cloud and web3.0 services and technologies to businesses in Africa,…

Finastra and Modefin partner to provide best-in-class fintech solutions

Finastra, a global provider of financial software applications and marketplaces, and Modefin, a global fintech solution provider helping banks to thrive in the digital age, announced their partnership to offer Finastra’s Fusion Trade Innovation and Fusion Essence solutions to banks in Africa and several Indian subcontinent markets. With Finastra’s solutions, Modefin will help its customers embrace open finance today…

Quona Capital announces $332M fintech venture fund

Emerging markets venture capital firm Quona Capital today announced the final close of its Fund III at $332 million, significantly exceeding its $250 million target. This is the third fund from Quona Capital since its inception, bringing the firm’s aggregate committed capital to over $745 million. Quona focuses its investments on innovative technology companies that are expanding…

Payhippo acquires Nigeria’s Maritime Microfinance Bank

Payhippo, Nigeria’s credit-led SME fintech, has acquired Maritime Microfinance Bank (MFB), a financial institution specializing in saving products, demand deposits, and investments as well as micro and SME loans. The acquisition is pending approval from the Central Bank of Nigeria and both parties are working together to obtain the regulator’s approval.  This will also enable…

MoneyFellows Raises $31 Million in Series B first closing

MoneyFellows, an Egyptian fintech platform has announced the first close of its Series B round with a $31 million investment led by CommerzVentures, Middle East Venture Partners (“MEVP”), and Arzan Venture Capital. Invenfin, National Investment Company (“NIC”) as well as existing investors such as Partech, Sawari Ventures, 4DX and P1Ventures also participated in the round….

Peach Payments & Stitch partner to launch Instant EFT across South Africa

Original article, by Thea Sokolowski, Head of Marketing & Communications​ South Africa-based digital payments gateway Peach Payments and API fintech Stitch have partnered to enable online merchants across South Africa to accept secure, low-cost instant EFT payments. The payment method is available to all Peach Payments merchants, on any integration platform, as ‘Instant EFT by Peach Payments’ and is…

EMURGO Invests in Momint to Expand Adoption of NFTs in Africa

Adaverse, an EMURGO-backed Web3 accelerator focused on Cardano ecosystem adoption in Africa, recently announced its investment in Momint, a Web3 marketplace that makes investing in crypto and NFTs easy for users of all skill levels. Adaverse joined Momint’s highly competitive seed round alongside Outlier Ventures, Mountain Partners, Rob Hersov, and simple.Capital. Adaverse was launched in September…

Yellow Card Receives First-Ever African Crypto Licence

Yellow Card has made another significant stride in the industry, becoming the first cryptocurrency company on the continent to be granted a Virtual Asset Service Provider licence to operate in Botswana. The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority [NBFIRA] on the 29th…

Moove raises £15 million financing to scale UK operations

Moove, a mobility fintech startup providing auto financing for gig economy drivers has raised £15 million in financing to scale up its UK operations. Moove launched in London in August with a 100% EV rent-to-buy model that provides mobility entrepreneurs access to brand-new, zero-emissions vehicles for a flat weekly fee. The new financing facility from…

Deimos: Rising Cybercrime in Africa

Original article was published here. The Africa Money and Defi Summit West Africa, held in Accra, Ghana, was fundamental for us to attend. Andrew Mori, CEO, Deimos shared a presentation on “Rising Cybercrime in Africa: What is happening and what to do about it.” Andrew started his presentation by quoting a hack at one of the biggest software…

Cellulant joins forces with Lusaka Chamber of Commerce to digitize payments

Press Release by Cellulant. Cellulant Zambia has signed a Memorandum of Understanding (MoU) with the Lusaka Chamber of Commerce and Industry (LCCI) to offer digital payments to its member businesses. Lusaka Chamber of Commerce members can now readily access payment solutions that will enable them to accept payments from their customers’ preferred mobile money wallet….

Seclore and TFG partner to grow Africa’s cybersecurity market

Seclore, a platform in data-centric security, announced that it has signed a strategic partnership with Tech First Gulf (TFG), an IT infrastructure and Cybersecurity Value Add Distributor, to deliver digital asset protection for Africa’s businesses. The move comes against a backdrop of steadily rising cases of cyber threats and attacks that, according to a report…

Nigerian BaaS Fintech Maplerad, Raises $6 Million Seed Funding

Nigerian Banking as a Service (BaaS) startup, Maplerad announced that it has raised $6 million in a seed funding round led by Peter Thiel’s Valar Ventures. Other participants in the round include Golden Palm Investments Corporation, Michael Vaughn (ex-COO, Venmo), Fintech Fund, Babs Ogundeyi (CEO, Kuda) Armyn Capital, Dunbar Capital, Strawhat Investment, Polymath Capital, Unpopular Ventures, Sean…

One Finance launches integrated consumer financing services in Egypt

One Finance – the Integrated Consumer Financing Platform  – announced the launch of its services in the Egyptian market with an issued and paid capital worth EGP 100 million. For the first time in Egypt, the company introduces an innovative buy now pay later business model by creating an integrated consumer financing platform that fulfills…

NALA enables Apple Pay payments from the UK and US into Africa

Original article by TechCabal. Last week, TechCabal reported that NALA, a Tanzanian-born fintech startup with a growing dominance in East Africa, made a pioneering move in Africa’s fintech space by enabling its African diaspora users to make local payments directly. Now, the fintech has announced another breakthrough for its customers: They can now make payments from the…

Bitpowr at the Africa Money and DeFi Summit

Click here to read the original Article by Bitpowr. The Bitpowr team was at the Africa Money and DeFi Summit in Ghana last week, from the 27th-28th of September, 2022. About the Summit The aim of the summit was to connect Africa fintech leaders, global venture  platforms and thought leaders across Africa and beyond to…

FlapKap Closes $3.6M Seed Round

FlapKap, a tech-enabled revenue-based financing platform in the MENA region, revolutionising e-commerce growth, announced the close of its $3.6M seed round. The round included participation from Bolt by QED,  Nclude, Outliers, and A15. This latest capital injection comes six months after the company’s pre-seed raise and coincides with the company recording significant milestones of an MoM…

Tugende closes pre-Series B funding raising a total USD 10 million

Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding from existing shareholders led by Partech and two new investors, including Women’s World Banking. The new investors add to the diversity of Tugende’s shareholding and complement the experience and skills that each contribute to Tugende’s growth….

Geidea Partners with Visa to accelerate digital payments across Egypt

Geidea, one of the region’s largest Fintech companies by market share, has announced a strategic partnership with Visa, the world leader in digital payments, to bring Geidea’s sophisticated payment solutions to the Egyptian market. Under the strategic partnership, Visa will invest in adding new payment solutions through Geidea’s Point-Of-Sale terminals, to provide seamless and secure…

Hela.money, Africa’s Neo Crypto Banking Platform & DeFi Wallet

Hela Money, an African Crypto Neo Bank, and DeFi wallet, is bridging the gap in Africa between the traditional finance and decentralized finance ecosystem by developing an all-in-one blockchain platform that seamlessly handles financial needs such as payments, neobanking, tokenization, decentralized finance, wealth management and more. Over 400 million Africans are not only underbanked but…

Lipa Later Announces Partnership with Lami Technologies

Lipa Later Group, a buy now, pay later (BNPL) company today announced a partnership with Lami Technologies, an insurance technology company, that will offer its consumers access to reliable and affordable insurance against all products purchased using the Lipa Later platform. Founded in 2017, Lipa Later is a trusted BNPL company operating in Kenya, Rwanda,…

Photos from Africa Money & DeFi Summit 2022

Here are some highlights of the Africa Money & DeFi Summit West Africa edition that took place in Ghana on the 27th and 28th of September.  

HammerPay Announces New Digital Fintech Platform coming to Africa

Hammer Technology Holdings, HMMR, recently announced that its flagship Fintech subsidiary, HammerPay, set to debut in Q4 2022, will launch a new mobile phone and web portal private digital e-wallet platform for market deployment in Africa. Powered by HammerPay, the Remittance Service Deliver Platform (RSDP) with its private digital e-wallet service will help banks, wallet…

Pennee: Is it good business to lend to Nigerian SMEs?

According to Pennee, access to funding seems to be the most difficult of running a small and medium-scale enterprise (SME) in Nigeria, even when the funds are available the interest rates are usually high. “There are a lot of opportunities on the continent [Africa] but capital is very difficult to come by.” — Tony Elumelu…

Flutterwave Enables Google Pay for African Businesses

 Flutterwave, Africa’s leading payments technology company, has announced Google Pay, a mobile payment service developed by Google, as a payment option for their clients.  As part of this collaboration, Google Pay will be an additional payment option for merchants on Flutterwave for business. This collaboration will offer safe and seamless payments, as well as convenient…

Autochek joins Africa Money & Defi Summit, Ghana 2022

Launched in 2020, Autochek is an automotive technology company established to build digital solutions to enhance and enable automotive commerce across Africa. The company is currently operational in East and West Africa. With the support of TLcom Capital and 4DX Ventures, Autochek combines technology underpinned by data analytics to deepen auto finance penetration across the continent. Powered by its…

EMTECH has partnered with SEC Ghana

EMTECH, an award-winning software company and first-of-its-kind provider of central banking infrastructure, has partnered with SEC Ghana to deploy its API-First Digital Regulatory Sandbox Platform to streamline regulatory sandboxing and supervision of capital market innovation. The company’s cutting-edge framework enables the SEC, as well as other regulatory agencies and central banks, to collaborate with emerging…

Deimos: Authentication and Authorization in a Distributed System

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…

EMTECH Joins Africa Money and Defi Summit, Ghana 2022

Our team is distributed across the globe in countries in North America, Caribbean, Europe, Asia, and Africa. EMTECH is passionate about enabling financial inclusion by transforming financial ecosystems. Click here to learn more about EMTECH. We look forward to hearing more from the EMTECH at Africa Money and DeFi Summit later this month The Africa…

Verified.Africa a product of Seamfix joins Africa Money and Defi Summit, Ghana 2022

Africa’s tech ecosystem is pushing the boundaries of what is possible and what’s not. We’ve seen new startups offer life-changing solutions to problems and digital services are improving the way we live and work. At Verified.africa, we’re huge supporters of growth and inclusivity, so we built a platform that enables these startups to reach a…

Fonbnk joins Africa Money and Defi Summit, Ghana 2022

Fonbnk are the leading global marketplace enabling you to convert your airtime into digital money. And for a limited time, they will even pay you to try us out. Click here to learn more about Fonbnk. We look forward to hearing more from the Fonbnk team at Africa Money and DeFi Summit later this month…

Legalpreneur Consulting joins Africa Money & Defi Summit

Legalpreneur Consulting is a full service law firm located in Nigeria. We are adapted to provide uniquely innovative solutions to clients and uncover the opportunities in the changing landscape. We provide the legal advice you need for the fast-changing and inter-connected world. We work closely with our clients, both Nigerian and international to provide specialist…

AWS for Startups joins Africa Money and Defi Summit, Ghana 2022

From Airbnb to Zocdoc, the world’s top startups build on AWS. But they didn’t do it alone. So whether you’re looking for help solving a technical challenge, hiring the right engineers, or finalizing a fundraising round, we have all the resources you need to get started. There’s a reason more startups build on AWS than…

Verified.Africa is live in Ghana, South Africa and Kenya!

Two years ago, we launched Verified.Africa in Nigeria to help businesses easily verify the identity of customers, partners, and employees. The result? Over one thousand businesses were empowered to grow their customer base faster, prevent fraud and operate with better turnover. Now, with over 300 thousand verifications recorded and incredible feedback from our supportive customers,…

The Growth of DeFi In Africa – Why Are People Interested?

Article by Elisha Imagine a world where people in developing markets can get loans on demand, have access to high-yield investment opportunities, and move their money freely without restriction. That is the world decentralized finance (DeFi) companies in Africa envision, and they are building it. Over the past few years, several DeFi platforms have launched…

Mobile remittances to lead digital revolution in marginal rural areas in five African countries

To harness the development benefits of using mobile channels to send and receive remittances, the UN’s International Fund for Agricultural Development (IFAD) announced its first grant to a digital payments company, MFS Africa, to promote the use of mobile remittances in marginal rural areas in five African countries; Ghana, Kenya, Senegal, The Gambia and Uganda....

Fintech Meets Crypto In Africa

Developing markets share several problems in common. One such problem is the inability of most people to have full access or any access at all to the financial system. For example, the unbanked have no access to the traditional system, they are unable to create accounts or use the services of banks, and the underbanked…

Starbucks Taps Polygon for Its Web3 Experience

Polygon has announced a partnership with Starbucks Coffee Company to provide the blockchain technology to build its recently announced Web3 experience, Starbucks Odyssey. As a result of the partnership, this new Web3-powered experience will allow Starbucks Rewards loyalty program members and Starbucks partners (employees) in the United States to earn and purchase digital collectible stamps in the form of…

M-KOPA Unlocks $600 Million for Underbanked Customers in Africa

M-KOPA, the fintech platform that provides digital credit to underbanked customers, today announced the release of its 2021 Impact Report.  As a mission-driven company, M-KOPA’s tremendous growth is rooted in commitment to both commercial and social goals. The report presents findings on M-KOPA’s smartphone, solar and cash loan customers across Kenya, Uganda, Nigeria and Ghana. While much of…

Hedera Named to Constellation ShortList™ for Blockchain Services

The Hedera network, the most used, sustainable, enterprise-grade public ledger for the decentralized economy, has been named to the Constellation ShortList™ for Blockchain Services in Q3 2022. The technology vendors and service providers included in this program deliver critical transformation initiative requirements for early adopters and fast-follower organizations. Hedera offers a range of different DLT services that…

Niji Oni & Co. joins Africa Money and Defi Summit, Ghana 2022

Niji Oni & Co is a specialized full-service Law Firm with an amazing track record in several areas of law. We provide first-rate legal services to our clients in various sectors ranging from corporate & commercial, dispute resolution, aviation, real estate, intellectual property, telecommunication and taxation. Click here to learn more about Niji Oni &…

Jelurida joins Africa Money and Defi Summit, Ghana 2022

Jelurida is a Swiss blockchain software development company. They initially incorporated Jelurida in the Netherlands in 2016 with the objective to further develop and maintain the Nxt and Ardor blockchain platforms, to ensure the sustainability and longevity of both projects, and explore commercial opportunities based on providing public, private, and hybrid blockchain solutions. Their goal...

YouVerify joins Africa Money and Defi Summit, Ghana 2022

YouVerify envisions an Africa where every African, and African business can build economic relationships and trust without worrying about fraud or compliance difficulties. They know what it looks like at the moment, and it is their mission to change it. 'We envision an Africa where every Africans, and African businesses can build economic relationships.' Click...

Hedera joins Africa Money and Defi Summit, Ghana 2022

Hedera is a fully open source, proof-of-stake, public network and governing body for building and deploying decentralized applications. It offers developers three primary services: Solidity-based smart contracts, consensus, and token services. Hedera is unique in that it is incredibly fast, energy-efficient (carbon negative), and secure — these advantages can be attributed to its underlying hashgraph consensus algorithm (set to be open sourced in 2022). Click here...

Yellow Card joins Africa Money and Defi Summit, Ghana 2022

Yellow Card enables anyone to buy and sell cryptocurrency in emerging markets. Simply sign up, deposit your local fiat via bank transfer or cash at our many store locations and buy Bitcoin. Or, sell your crypto to us, and pick up cash at any store. With active customers in Nigeria, Botswana, South Africa, and Zimbabwe...

WiPay joins Africa Money and Defi Summit, Ghana 2022

WiPay was created in 2016 as a direct result of a persistent problem. The Caribbean faced challenges with digital payments and the lack of ‘financial inclusion' for the majority of persons. WiPay, developed a uniquely ‘inclusive’ platform that is secure, flexible and simple to use. WiPay allows anything connected to the Internet to move money quickly, safely...

Workpay joins Africa Money and Defi Summit, Ghana 2022

We’re all about efficiency and productivity at the workplace. While running our software company a few years back, the Workpay founders saw an opportunity in the people space that would enable companies in Africa to hire, manage and pay their teams efficiently. An opportunity to enable employers to handle HR, payroll and compliance across multiple...

Veend joins Africa Money and Defi Summit, Ghana 2022

The idea that gave birth to VeendHQ was sparked while building automation problems for financial institutions. They realised that the biggest problem financial institutions encounter is the inability to collect loan repayments effectively. This significantly increases the risk of running a lending business. Hence in 2021, they set out with their automation tools to provide...

Celo joins Africa Money and Defi Summit, Ghana 2022

Celo is a mobile-first open source ecosystem of technologies, organizations and individuals that share a common mission of building a financial system to create the conditions for prosperity for everyone. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology stack (Celo Platform), a native asset (CELO), three stablecoins (cUSD, cEUR, and cREAL) and the Celo...

QoreID joins Africa Money and Defi Summit, Ghana 2022

QoreID provides an easy to integrate, trouble-free and dependable products delivered as APIs, SDKs or Workflows to help customers focus on building their business. They make it super easy for people to securely onboard and get to know their customers intimately, laying a good foundation for businesses to build products and connect with their customers...

Zeepay joins Africa Money and Defi Summit, Ghana 2022

Zeepay is the fastest growing wholly Ghanaian-owned fintech in Ghana focusing on digital rails to connect digital assets such as mobile money wallets, cards, ATMs, Bank Accounts and Digital tokens to International Money Transfer Operators, Payments, Subscriptions, International Airtime and Refugee payments. This is an effort to promote and improve financial inclusion which in turn...

Cellulant joins Africa Money and Defi Summit, Ghana 2022

Cellulant is a leading Pan African payments company that provides locally relevant and alternative payment methods for global, regional, and local merchants. We provide a single API payments platform that enables businesses to collect payments online and offline while allowing anyone to pay from their mobile money, local and international cards or directly from their...

Bitmama raises additional $1.65 million in pre-seed funding

Blockchain payments startup, Bitmama Inc., has raised an additional $1.65 million in pre-seed funding. This brings its total funding for this round to $2 million, having raised $350,000 10 months ago. The latest round is led by Unicorn Growth Capital and Launch Africa Ventures, with participation from Adaverse and follow-on from Flori Ventures, which led...

Web 3 needs to be mobile-ready: A case for mass adoption

Article by Brian Kimotho, Chief Marketing Officer, Kotani Pay The internet as imagined by Tim Barnes in the late ’80s was a world wide web that is open, decentralized, and allowed information sharing across the globe. With this knowledge, the journey from Web 1 which was a read-only internet, Web 2, a read-and-write internet, towards...

Deimos joins Africa Money and Defi Summit, Ghana 2022

Deimos is a technology-focused company with many years of experience in custom software development, cloud-native architectures, large-scale cloud migrations, developer automation, security, and observability best practices. They are professionals that are certified and are part of teams that are geared towards delivering value to customers quickly. Their strength lies in their diversity of experience, cultures,...

NowNow Digital Systems, has closed a $13 million seed round

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…

10 ventures to showcase the exciting future of Web3, FinTech and DeFi in Africa at the upcoming Africa Money & DeFi Summit in Ghana

The Africa Money & DeFi Summit has announced the final shortlist of exciting ventures who will Pitch Live on stage in West Africa to over 400 fintech and crypto leaders, in Accra on September 27th – 28th. The West African edition of Pitch Live has attracted over 200 submissions and strives to showcase leading ventures…

AZA Finance joins Africa Money and Defi Summit, Ghana 2022

Founded in Nairobi, Kenya, in 2013, AZA Finance has grown from a currency exchange platform to a global financial services firm expert in frontier markets and currencies. They make international Payments, FX and Treasury through their web and API platforms easier and better for enterprises doing business in Africa. All directed by their expert team,…

Metaverse Magna raises $3.2M at a $30M valuation to build Africa’s largest gaming DAO

Metaverse Magna (MVM), a Nestcoin gaming DAO based in Nigeria that distributes mobile games in emerging African markets and builds developer tools for Web3 gaming, has completed a seed sale token round of $3.2 million at a $30M fully diluted value. Investors included South Korean video game developer Wemade, Japan-based blockchain-focused venture capital firm Gumi Cryptos…

Affinity joins Africa Money and Defi Summit, Ghana 2022

Founded in 2013, Affinity was established as an owner and operator of financial services companies in sub-Saharan Africa. Affinity prides itself on establishing digital-forward and branch-light financial institutions, leveraging fintech and innovative design to improve financial access and affordability. Affinity made its first investment in 2015, acquiring PayFlex in Ghana. Affinity is a full-fledged digitally-driven financial institution…

Flutterwave joins Africa Money and Defi Summit, Ghana 2022

Flutterwave is a leading technology company that enables businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables cross-border transactions via one API. Flutterwave has processed over 200M transactions worth over USD $16B to date and serves more than 900,000 businesses including customers like Uber, Flywire,…

Polygon joins Africa Money and Defi Summit, Ghana 2022

Polygon is the leading blockchain development platform, offering scalable, affordable, secure, and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone, and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted,…

VerifyMe unveils new digital Identity and consumer analytics solution for businesses

Leading identity verification and e-KYC technology company, VerifyMe Nigeria, has unveiled QoreID, a dedicated digital identity, and analytics solution for B2B.  QoreID will provide API infrastructure and data services that connect businesses to people and their information across Africa and remain a VerifyMe Nigeria company. Targeted at the medium and enterprise business segment, QoreID provides…

What Does Ethereum’s Transition to PoS Mean for Polygon

Originally published by Polygon With Ethereum’s switch to proof of stake (PoS) slated for mid-September, Polygon thought it would be appropriate to take a moment and look around, to admire how far Web3 has come. Now is a time to celebrate the builders and dreamers who’ve worked relentlessly on the margins to summon a more…

Zapper partners Stitch to offer one-click payments in South Africa

Zapper, a South African mobile payments company has partnered with payments and data API fintech Stitch (via LinkPay—a one-click payments product) to enable Zapper users to make instant electronic funds transfer (ETF) payments with a click. Zapper was one of the first players in South Africa’s mobile payments market and today enables merchants of all…

Flutterwave Secures Switching and Processing License

The Central Bank of Nigeria has granted Flutterwave, an African payments technology company a Switching and Processing License (CBN)—widely regarded as CBN’s most valuable payments processing license. This license allows Flutterwave to offer customers transaction switching and card processing services. Others include non-bank acquiring, agency banking, and payment gateway services.  The Switching and Processing license allows…

Rapid Rise of Fraud is Fuelling Interest in Liveness Detection Tech

Article by YouVerify Digital onboarding and passwordless authentication have become widely adopted, especially with the advancement of online transaction technology. However, it has also come with the downside of an increase in fraud. Despite there being KYC and AML measures, fraudsters are coming up with creative ways to beat the system, causing a rise in…

Pezesha raises Pre-series A investment of $11 Million

Pan-African embedded finance Fintech, Pezesha, has raised a pre-series A investment of $11 Million. The round was a mix of $6 million equity and $5 million debt. The funding round, which was led by Women’s World Banking Capital Partners II (WWBCP II), will see the company significantly scale operations in its core markets and grow…

Meta opens applications for the AR/VR Africa Metathon

Meta has announced that applications for the AR/VR Africa Metathon in partnership with Imisi 3D and BlackRhino VR are now open. The AR/VR Africa Metathon is a series of programmes and activations under the Meta global XR fund aimed at supporting African XR talents to build innovative solutions that demonstrate various use cases of the…

Liquid Intelligent Technologies expands operations to Mkushi

Liquid Intelligent Technologies, a business of Cassava Technologies in Zambia, is expanding its operations to Central Province by launching its first office in Mkushi. This launch will bring high-speed connectivity and a suite of intelligent technologies to the district for the first time. With the opening of this new branch in the country, the pan-African…

Visa launches operations in DR Congo

Visa Inc. the global payments technology company, has outlined its commitment to expanding digital payments in the Democratic Republic of Congo by establishing local business operations and working closely with the government and financial ecosystem to bring the benefits of digital payments to consumers, merchants, and partners. Visa marked the official opening of its Kinshasa…

Workpay: Hiring Remote African Teams Gives You an Advantage

original post by Workpay The world of work has tremendously changed in recent years. The COVID-19 pandemic impacted the global labour market in 2020, and although it had negative consequences in the short term, it also accelerated the disruption of technology at work. As a result, more companies are hiring teams across the world. African…

Nigeria: Pastel has raised $5.5M in its SEED round

Nigeria’s Pastel, formerly Sabi Cash, has raised $5.5M in a SEED round led by TLcom Capital with participation from Global Founders Capital (GFC), Golden Palm Investments, DFS Labs, Ulu Ventures, Plug and Play, and SOMA Capital. Founded by Abuzar Royesh, Olamide Oladeji, and Izunna Okonkwo, Pastel is on a mission to build digital tools to…

Yellow Card announces new payment feature – Yellow Pay

Yellow Card Financial is proud to announce its new payment feature – Yellow Pay. This innovative solution will make it easier for customers to send and receive money through the Yellow Card crypto exchange platform, without any extra charges, instantly all from the comfort of their home. Oparinde Babatunde, Yellow Card Director of Operations, says one…

Africa fintech and crypto leaders to connect at the Africa Money and DeFi Summit in Ghana this September

As the rapid growth of fintech continues and the birth of decentralised finance (DeFi) grows across Africa, leading fintechs, investors, crypto platforms, ventures and digital finance stakeholders will connect at the Africa Money & DeFi Summit – West Africa edition on September 27-28th 2022 in Accra, Ghana. Following the sold-out Money and DeFi Summit in Nairobi early this…

The Growth of Investment In African Crypto-Based Startups

The cryptocurrency space has become a hotbed for investments of all kinds. From regular people hedging against inflation by buying Bitcoin to major investors betting on the future of finance by providing capital for startups, a lot of money is pouring into crypto. The African continent has had its fair share of investments into new…

Fintech VC Firm QED Investors Makes Investment in TeamApt

TeamApt, a Nigerian payment platform, has just completed a financing round and brought onboard fintech specialists, QED Investors. With almost $5 billion assets under management, QED is a premier VC in the fintech space. They have invested in 27 unicorns over more than 180 portfolio companies across 14 countries. TeamApt is its first investment in…

Using Decentralized Reward Points to Achieve Massive Growth in Commerce

Keynote session at the Africa Money and DeFi Summit, part of Africa Tech Summit Nairobi 2022: Using Decentralized Reward Points to Achieve Massive Growth in Commerce by Simeon Ononobi CEO ThankUCash. Simeon discusses how ThankUCash is positioning itself to decentralize loyalty points within the African Market so as to provide more overall value for the...

Zeepay announces Series A.5 raise of USD10 million

Zeepay, a cross-border payments company operating as a challenger mobile money company has announced a raise of USD 10 million. The medium-term debt raise, which forms part of its A.5 series, comes to support Zeepay in a bid to augment its fast-growing remittance to wallet business. The raise was led by Symbiotics BV with USD…

How to Send Fee-less Tron Transactions

Original article by Bitpowr Tron is a popular blockchain-based operating system on which a user can create decentralized applications, and distribute media content. The TRX token on its own is used to gain access to certain features of the operating software that are available on the Tron Protocol. Therefore, the main purpose of the token…

The Future of Work & GIG Economy

Insights from the Future of Work & GIG economy panel at Africa Tech Summit Nairobi 2022. Panelists discuss the shift witnessed within the gig economy now that 70% of jobs are tech-enabled, there is the implementation of a remote workforce, the talent within the sector is predominantly Gen Z, and how this shift is affecting...

Exploring Fintech For Resilience

Panel Session on Exploring Fintech for Resilience at the Africa Money and DeFi Summit, part of Africa Tech Summit Nairobi 2022. The panelists discuss the impact FinTech has had on the climate risks faced by households and small businesses across the continent, and what affordable and accessible solutions are available for these vulnerable communities. Panelists...

Skrmiish, a SA gaming startup, receives a US$2.5 million seed round

A US$2.5 million seed round has been raised for Skrmiish, a mobile “play-to-earn” software located in Cape Town that allows players of all skill levels to earn money in every match they play across the AAA+ games they like. Investors in the round so far confirmed include Launch Africa Ventures, Blockchain Founders Fund, and Stellar…

Crypsense Digital Group, First African Web 3 Startup to Qualify for Draper VeChain Accelerator Program

Crypsense Digital Group a Kenyan based Digital Assets Capacity Building & Management Platform is among the first African based Web 3 startups to qualify for the Draper VeChain Web 3 Accelerator Program. A 12 Week Accelerator Program delivered globally to high-growth blockchain companies. The team pitched together with some of top 15 globally fastest growing…

The Evolution Of International Payments & Remittances

Panel Session on Insights from The Evolution Of International Payments & Remittances at the Africa Money and DeFi Summit, part of Africa Tech Summit Nairobi 2022. The panelist discuss the importance of customer plans with reference to cost, and speed of delivery, highlight effective customer acquisition strategies, barriers to growth and what approach the key...

Neo Banking for Africa

Panel Session at the Africa Money and DeFi Summit, part of Africa Tech Summit Nairobi 2022. Panelists discuss insights and discussions around the rise of Neo banks and how technology is digitizing and disrupting the traditional banking system in Africa. Panelists: Tobi Amira – COO – TeamApt Inc. Dan Tumuramye – Country Director – Uganda...

Youverify extends its seed funding by $1M as it expands into new African markets

Youverify, a San Francisco-based identity verification company helping African banks and startups automate Know Your Customer (KYC) and other compliance procedures, today announced that it has secured a $1M seed round extension. After initially raising $1.5M in 2020, the Company extended the seed round, raising an additional $1M, bringing the total amount raised to $2.5M….

Norebase partners with Mercury to offer its users a banking stack for startups

Norebase, an African startup that allows entrepreneurs to start businesses and expand into other markets, has announced its partnership with Mercury — the fintech company building a banking stack for startups — to give its clients looking to incorporate to the U.S an all-in-one neo banking experience. Norebase has stated that this partnership with Mercury, will…

Lami Technologies Raises US$3.7mn Seed Extension

Kenya-based startup Lami Technologies has raised a US$ 3.7m seed extension to expand its insurtech product across Africa. The extension was led by Harlem Capital, an early-stage venture firm that invests in seed-stage tech-enabled startups, focused on minority and women founders. Participating in the round were early-stage venture capital firm, Newtown Partners; Peter Bruce-Clark, a…

Crypto is Changing the world of payments and remittances in Africa

I was shocked when I got to the bank and heard an attendant tell a distressed customer that they could not send money out of Ghana using Western Union. But, even though the situation was disturbing, it assured me that cryptocurrencies would fit in here and adoption needed to happen quickly. In this article, we…

GoGetta to facilitate global investment into African businesses

Quality African businesses with growth prospects that seek funding can now raise capital via an innovative crowdfunding platform, GoGetta. Local and international angel and venture capital investors can now select vetted opportunities and invest quickly and securely amounts of just R1000 or more to own shares in various African businesses. Sthembiso Zwane, co-founder of GoGetta…

Polygon announces Acentrik by Mercedes Benz Is On Polygon Mainnet

Acentrik, a strategic initiative by Mercedes-Benz, is now deployed on Polygon Mainnet as part of its enterprise release. Powered by Blockchain Technology, Acentrik is a decentralized data marketplace developed by Mercedes-Benz, using Ocean Protocol technology – facilitating data sharing and monetization for enterprises across domains. Through tokenization of data assets, secure access of data on…

African Metaverse Opens Up to the World

Africarare Africa’s first metaverse has opened up to the world and is poised to unlock African creativity and connect Africa to the global digital economy. At a recent event in Johannesburg, plans were announced for commercialisation of the 3D virtual reality experience, that is set in Ubuntuland, a virtual world that marries creativity, cryptocurrency, and...

Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

Adaverse, a Cardano ecosystem accelerator set up to encourage the growth of Web3 crypto-native enterprises in Africa, announced its investment into a seed funding round for Afriguild, a blockchain gaming guild-turned DAO (decentralized autonomous organization) providing opportunities for Africans through gaming, education, and community building. Adaverse and EMURGO Africa have joined other notable investors in this…

Hashgreed raises $1M+ for NFT and Asset Tokenization expansion in Africa

Hashgreed, an African NFT marketplace, a multipurpose NFT and super dapp platform under the Krosscoin Ecosystem has recently raised $1M+ towards scaling across Nigeria and beyond. The platform is designed to help both individuals and businesses experience web3 solutions for creative, commerce and Asset tokenization. Hashgreed also hosts amazing DeFi and WorkFi solutions. Users can…

Fintech Bizao Raises €8M To Expand Across Africa

Bizao, a Côte d’Ivoire-based fintech firm currently in over 10 African nations, has introduced an €8 million Sequence A funding spherical. The corporate hopes to speed up its geographical footprint throughout the continent and spend money on the design of recent strains of services with this elevate.  The funding round was led by AfricInvest Financial…

Suzuki by CFAO partners with ETAP to enable seamless insurance for Nigerian drivers

CFAO Motors, the sole distributor of Suzuki cars in Nigeria, has partnered with ETAP, an InsurTech company that creates solutions and incentives to improve the automotive experience across Africa, to enable seamless access to insurance with every new car purchased from the Suzuki network in Nigeria.  As part of the partnership, drivers will now be able to buy insurance…

‘Hack The Mara’ hackathon is now open to African creators and developers

In the Maasai Mara, landowners, wildlife, and tourism depend on one another for survival. The impact of COVID-19 has brought tourism to a standstill, jeopardising the revenue previously realised, and threatening to bring the ecosystem down. Teams are expected to build decentralised finance solutions that can serve anyone, anywhere, no matter how remote. This includes…

DeFi company, Stakefair, secures US$670k pre-seed to launch its business

Stakefair, a Decentralized Finance (DeFi) company has launched after securing US$670,000 pre-seed funding. Investors involved in the round include Adaverse, Nestcoin, Kepple Africa Ventures, Canza Finance, Voltron Capital, Echo VC Chain, Timi Aboyeji, Tomiwa Olaosebikan, Peter Kisadha, Saturn Blockchain Ventures, Thrive Africa Syndicate, Nehikhare Igbinijesu, Oluchi Enebeli, and Clement Hugbo. The funds will be channeled…

Swiss Blockchain Investor, CV Labs, opens Blockchain Incubation Hub in Cape Town

Dedicated Swiss blockchain investor Crypto Valley Venture Capital (CV VC) and its ecosystem company CV Labs have opened CV Labs Cape Town, the African region’s first in situ blockchain incubation and ecosystem hub. As an initiator of Crypto Valley, Switzerland – the world’s most mature blockchain hub, with an admirable regulatory landscape and 14 blockchain…

Kotani Pay partners with Tokpay, to enable off-ramp services to its users

Kotani Pay, a technology stack that enables blockchain protocols, dapps, and fintech companies to integrate seamlessly into local payment channels has announced a partnership with Tokpay, a DeFi neo-bank for for micro-finance and social protection programs in Sub-Saharan Africa.  Acoording to Kotani Pay, the aim of this partnership is to provide off-ramp services to Tokpay…

Zazuu raises $2M to scale its cross-border payment marketplace

Zazuu, an Africa-focused fintech startup creating a payment platform for cross-border payment solutions for Africans in the diaspora, has raised USD2 million, which will be critical in the company’s mission to minimise the inconsistency associated with remittance transactions for Africans. The funding round had the participation of Launch Africa, Founders Factory Africa, Hoaq Club, Tinie…

Central African Republic launches Sango Coin

The Central African Republic’s (CAR) adoption of digital assets and blockchain technology continues to gain new grounds as it introduces the national digital currency called “Sango Coin” which will complement its digital currency hub project—Project Sango. “Sango Coin will be the currency for the next generation,” President Faustin-Archange Touadera said in a statement made at…

MTN teams up with ETAP to reward Nigerians for good driving

MTN Nigeria, Africa’s leading technology company, has teamed up with ETAP, a mobility technology company that creates solutions and incentives to improve the automotive experience across Africa, to reward Nigerian drivers for maintaining good driving behaviour. Leveraging ETAP’s game-changing app which uses advanced telematics to monitor driving behaviour such as speed, acceleration, braking, cornering, and focus, MTN customers…

IFC Invests in Mobile Money Firm Wave to Boost Access to Digital Financial Services in West Africa

To spur financial inclusion and support economic growth in Senegal and Côte d’Ivoire, global development institution, IFC has announced an investment in Wave Mobile Money S.A. (Senegal) and Wave Côte d’Ivoire S.A., mobile money firms that are helping lower prices and expand services in the region. The investment from IFC and other lenders will help Wave substantially grow…

Nigerian Fintech, Moove, secures $20 million credit from British International Investment

British International Investment (BII), the UK government’s Development Finance Institution (DFI), formerly known as CDC Group, has announced a $20 million, 4-year structured credit investment in the Nigerian mobility fintech firm democratising access to vehicle ownership in Africa, Moove. The investment is said to reflect BII’s focus on mobilising capital to build self-sufficiency and market resilience in Nigeria…

Cellulant Partners With 5 Water Utility Companies in Zambia

Pan-African Payments technology company, Cellulant, has announced a digital payment partnership with five leading Zambian water utility companies; Nkana Water, Kafubu Water, Mulonga Water, Chambeshi Water, and Western Water. This partnership will allow customers in the province to conveniently pay their water bills with their preferred mobile money and selected bank accounts (Standard Chartered Bank,…

Luno: Who’s Buying Crypto in Africa?

LUNO: Who is buying crypto in Africa? The average African crypto buyer is most likely to be male, spends about $20 USD on the first purchase and holds onto it for about 9 months, according to data from Luno, a crypto platform with over 10 million customers in 40+ countries. Interest in crypto is rising…

Ayoken raises $1.4 Million Pre-Seed to Build Africa’s First NFT Marketplace

Founded by Joshua King in 2021, Ayoken, the first platform for buying exclusive digital collectables, and social tokens from the musicians, sports brands, creatives, and influencers from Africa, and the global diaspora, has launched its own NFT Marketplace after raising $1.4 million in its pre-seed funding round. Investors that participated in this round include Founders…

Exploring Fintech For Resilience

Panel session at Africa Tech Summit Nairobi Exploring Fintech for Resilience. The panelists discuss the impact FinTech has had on the climate risks faced by households and small businesses across the continent, and what affordable and accessible solutions are available for these vulnerable communities. Panelists Emilie Blauwhoff, Co-Founder & COO – TopUp Mama Dave Okech,…

Safaricom partners with Visa to provide virtual cards for global transactions

Kenya’s biggest telecommunications operator, Safaricom, has launched a virtual payment card with Visa Inc, offering the more than 30 million users of its M-Pesa payments system access to global e-commerce platforms. The launch of the M-Pesa GlobalPay Visa virtual card follows a partnership between the two companies forged in 2020 to develop “products that will…

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