Opinion How DeFi can facilitate better access to financial services in Africa DeFi has huge potential to facilitate access and inclusion to financial services such as lending, investing, settlements, online transactions, payments and so much more, provided the infrastructure gap is closed. How can defis elevate financial services in Africa?
News After doing N1.4 trillion in Agency banking transactions in May, TeamApt wants to "do more" for its users. In May, the value increased to ₦1.4 trillion ($3.5 bn) with 68 million transactions in volume, and between April 2020 and April 2021, the total value of transactions processed has gone up to $16 billion.
News Chipper Cash becomes Africa's sixth unicorn Chipper Cash has closed its Series C round of funding. The three year old startup raised $100m, propelling it to unicorn status.
News New CBN regulations require fintechs to pay $5million into escrow account Yesterday, the CBN introduced yet another set of sweeping new regulations for Fintech license holders. The most prominent change is a new Escrow account created for Fintechs to deposit certain stipulated sums of money.
Spotlight How Open Banking will shape fintech in Africa Open banking could usher in a new era of financial inclusion where banks and African Fintechs can seamlessly exchange customer data. This will facilitate the provision of broader financial products and services for Africans.
Spotlight Using USSD-technology, Stax wants to increase financial inclusivity for Africans It is estimated that 94% of transactions in Africa are performed via USSD. Stax is building on USSD to power financial transactions across Africa.
News Okra raises $3.5 million to scale its Open Finance operations This comes just under a year after Okra closed its $1m pre-Seed round with only TLcom Capital participating in the round. It brings Okra’s total funding at seed to $4.5m.
Spotlight Lemonade Finance, a fintech startup easing cross-border transactions for Africans Cross-border payments are a source of pain for Africans. Lemonade wants to solve the usage restrictions, long transaction completion time and high fees.
News Nigerian Fintech Platform, Appzone, raises $10 million Series A Funding The round was led by CardinalStone Capital Advisers alongside V8 Capital, Lateral Investment Partners, Constant Capital, and Itanna Capital Ventures,
News Why CBN banned BVN validation for non-bank financial institutions The CBN has banned fintechs and non-bank financial institutions from providing BVN validation service. In this story, we explore reasons behind the ban.
News Savyt, new digital savings and investment app comes out of beta Savyt is a digital savings and investment app that wants to help Nigerians earn better returns on their savings and investments.
News Catalyst Fund seeks ambitious talent for portfolio companies, launches internship Internship positions are available at Lami, Indicina, Koa, Power, and Kandua in sales, data analysis, customer service, project management, engineering, and more.
News Bankly raises $2 million in a seed round led by Vault Bankly raised $2 million in a round led by Vault. The fund will help them boost their customer base and develop direct-to-customer products.
Flutterwave Flutterwave collaborates with PayPal; adds as a payment option for African merchants Flutterwave's collaboration with Paypal now allows Nigerians, Ghanaians, Kenyans, and other Africans to receive international payments from customers.
Spotlight Inflow Finance is building Africa’s ultimate personal finance management tool Inflow Finance is a personal finance management tool that allows users to track their spending across multiple bank accounts
News Nigeria’s Fintech startup “Moyalo” wants to be the Uber of savings Moyalo is a new web app that enables users to join a group of five or nine others to meet short-term savings goals.
News Cowrywise raises $3 million pre-Series A round from Quona Capital With this $3 million round led by Quona Capital, Cowrywise becomes one of the few startups in Nigeria to have raised a pre-series A round.
News Ghana’s OZÉ raises $700,000 seed round to foster expansion OZÉ, a Ghana-based fintech startup that focuses on scaling small African businesses through digitized operations and affordable capital closed a $700,000 seed round from Anorak Ventures, Matuca Sarl, Rising Tide Africa, and existing investors Ingressive Capital and MEST.
News TeamApt announces new consumer focus and West & North Africa expansion plans for 2021 TeamApt has announced that it will be shifting its focus from delivering financial services products to banks to delivering products for consumers and businesses.
Spotlight BitSika: From side project to multimillion-dollar startup BitSika is a payment app that helps people send money instantly across countries. It is popularly known as the CashApp of Africa.
News Ghana’s Zeepay raises $940,000 seed investment from UK VC firm GOODsoil’s investment will enable Zeepay to continue to scale and roll out its services across the continent, and extend its global reach by launching in the UK in 2021.
News OnePipe closes $950,000 pre-seed round from Sherpa, Techstars, others OnePipe has raised $950,000 pre-seed funding from a roster of institutional and angel investors, including Techstars, Sherpa Africa, and Idris Bello.
News Kwaba, a rental financing startup raises pre-seed round from Ingressive Capital and ARM Kwaba, a rental financing startup, has raised an undisclosed amount in a pre-seed round from Ingressive Capital and ARM. The pre-seed investment is estimated to be north of $200,000.
Spotlight InvestSika is making investing accessible to all Africans, starting with Ghanaians InvestSika is on a mission to make investing accessible to all Africans. With a mobile money account and smartphone, you can start trading and investing in the stock market with as little as GH₵60 ($10 or ₦3,820).
Opinion Seven ways to beat inflation in Nigeria In a tweet on Wednesday, October 28, 2020, Prof. Steve Hanke revealed that his measurement of Nigeria's inflation over the last year stood at 30.37%.
