African fintechs Finclusion and Lipa Later raise pre-Series A funding
Finclusion has landed $20 million and Lipa Later has secured $12 million.
Africa
African fintech start-ups Float and Asaak gain funding
Ghana-based Float and Uganda-based Asaak raise $17 million and $30 million, respectively.
Pan-African Payment and Settlement System goes live
PAPSS will save Africa more than $5 billion in payment transaction costs every year.
South African challenger bank Tyme completes $180m Series B with Tencent investment
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
MTN hires Hermann Tischendorf as CTIO for digital and fintech
Tischendorf joins from 4Finance Group, where he served as CTO.
Nigeria’s B2B e-commerce fintech TradeDepot raises $110m
The funds will support the delivery of BNPL services to five million SME retailers across Africa.
Shinhan Bank readies stablecoin remittance PoC on Hedera network
This is the latest in a number of distributed ledger innovations by the South Korean bank.
Finnovex West Africa: A timely discourse on leveraging technologies for accelerated financial inclusion
The Finnovex West Africa summit took place between 26 – 27 October 2021.
Inequality, climate change and economic recovery: how can Africa overcome this triple threat?
Banks should look to make commitments around sustainable finance to drive much-needed change.
Siinqee Bank signs for new banking tech from Oracle FS
Ethiopia-based Siinqee Bank has signed for the Flexcube core banking system from Oracle FS.
South African e-payments platform Ozow lands $48m in Series B funding
The paytech says cash will help deepen financial inclusion on the African continent.
MFS Africa raises $100 million in Series C funding to boost digital drive
Payment gateway company looks to increase its exposure across Africa.
Citi to take $1.5bn charge shuttering South Korean retail banking business
The charge related to the closure will affect the bank’s operations through the rest of 2021 and 2022.
South African BaaS platform Jumo raises $120m in funding
The company will use the cash to expand into more emerging markets.
Chipper Cash lands unicorn status with $150m Series C extension
The extension brings Chipper Cash’s total funding to date to over $305 million.
Egypt’s MIDBANK picks Temenos for digital banking revamp
Temenos’ Transact and Infinity products will replace the bank’s legacy systems.
Standard Bank partners Flutterwave to boost digital financial services in Africa
Bank says the pandemic has caused a shift to digital payments across Africa.
Nigerian central bank launches eNaira CBDC
Central bank claims CBDC will boost financial inclusion in the continent’s most populous nation.
Accelerating financial inclusion in the era of digitisation
Finnovex West Africa takes place virtually between 26-27 October 2021.
Sibos 2021: Africa has world’s best demographics for financial services, says Standard Bank CEO
Investment and connectivity have created “vast opportunities”, says Sim Tshabalala.
New fintech Z-Walet plans Egyptian launch targeting Gen Z
Founded in 2020, the firm is still at the waiting list stage.
Bahrain’s Bank ABC taps Fenergo for client management solution
Bank ABC operates across the Middle East, North Africa, Europe, the Americas and Asia.
Exclusive: Nigeria’s Zenith Bank picks Oracle for worldwide tech overhaul
The lender is replacing existing Finastra systems with Oracle across multiple countries.
Flutterwave partners with Currencycloud to boost global expansion plans
Flutterwave has integrated Currencycloud’s API to expand its payments network.
Cloud payroll fintech dopay raises $18m in Series A round
New raise will go towards product expansion in its sole Egyptian market.
African fintech Wave hits unicorn status with $200m Series A round
The fintech start-up says it wants to “bring digital finance to everyone in Africa”.
Fintech ecosystem MNT-Halan lands $120m funding
The Egyptian digital platform connects merchants and users who are typically excluded from financial institutions.
Nigerian central bank partners with Bitt to deliver new digital currency
The Barbadian fintech says digitising the Naira will benefit the entire Nigerian financial ecosystem.
OPay becomes Africa’s latest fintech unicorn with $400m Series C round
The Nigerian start-up says the new investment takes its valuation up to $2 billion.
Ethiopia’s Hijra Bank signs core banking deal with Path Solutions
The bank will utilise Path Solutions’ iMAL core banking platform.
Fintech start-up dopay gains Egyptian banking licence
The payroll company is looking to launch a new digital banking platform in the country.
Exclusive: Central Bank of Egypt selects collection of Oracle FS platforms
Central bank picks a range of systems from digital banking to treasury and credit facilities.
Nigerian challenger Kuda raises $55m in Series B funding round
Kuda lands valuation of $500 million, and total raised of $91m.
Airtel Africa’s mobile money business receives $200m from QIA
QIA gains a minority stake in African mobile payments firm.
Finnovex Southern Africa Summit: agile digital disruption strategies for banks and FIs
This year’s theme was “Adapting Reinvention to a Rapidly Changed World”.
New banking software deals for Oracle FS in Africa and India
Addis International Bank, Arab Commercial Bank, and OmniBSIC Bank are the new Flexcube takers.
South African fintech Yoco looks to scale following $83m Series C round
The firm is now targeting expansion across Africa and the Middle East.
Former Absa exec joins NAB as new chief security officer
Sandro Bucchianeri announced his departure from Absa at the start of the month.
Nigerian central bank plans October 2021 digital currency pilot
The central bank ordered the cessation of cryptocurrency exchange services in February.
How COVID-19 has accelerated the use of digital banking solutions in Africa
The past year has seen a clear trend towards the adoption and acceleration of digital banking products.
