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…
Read Article →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…
Read Article →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…
Read Article →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…
Read Article →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…
Read Article →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….
Read Article →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…
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