After about six years of consultation and drafting, Nigeria is now the first African country to issue an open banking regulation; it will foster legal data sharing between financial institutions and also drive inclusion.
Airtel Money has launched a new Airtel Africa Developer Portal to provide open APIs. How has MTN's API marketplace, Chenosis, fared?
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.
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.