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The global financial corridor between Africa and the rest of the world has long been defined by high friction, exorbitant fees, and a “sender-receiver” dynamic that favored Western institutions. However, the news breaking today from the City of London signals a definitive end to that era. LemFi, the fintech powerhouse that has quietly revolutionized remittances […]
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Africa’s fintech sector is growing rapidly, with revenues projected to reach nearly $47 billion by 2028. But unless regulatory fragmentation across the continent is addressed, many of its most promising companies will struggle to scale beyond national markets. By Jean-Marie Kananura, Chief Investment Officer, Kigali International Financial Centre Africa’s fintech sector is entering a defining […]
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For decades, access to credit across Africa has been shaped less by potential and more by fear. Lenders price for uncertainty, borrowers pay for invisibility, and millions of everyday earners remain locked out of fair financial systems, not because they are unreliable, but because they are misunderstood. Credlock is building an alternative. Not another digital […]
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Flutterwave Inc. is betting its purchase of open-banking platform Mono Technologies Nigeria Ltd. will boost earnings and strengthen the case for a potential initial public offering by Africa’s most valuable financial-technology unicorn, its chief executive said. The Lagos- and San Francisco-based payments company this week bought the startup that it’s worked with since 2021 to leverage its infrastructure, secure access […]
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Partnership combines Mastercard’s global payments network with Smile ID’s capabilities to combat fraud and expand financial inclusion across Africa. From left to right: Selin Bahadirli, executive vice president, services, Eastern Europe, Middle East and Africa at Mastercard, Mark Straub, CEO Smile ID, Dennis Gamiello executive vice president, and global head of identity at Mastercard Nairobi, […]
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Western Union, Zoona Transactions Zambia Limited and Chipper Cash today announced the launch of international money transfer services in the Chipper Cash app. The co-branded service enables customers in Zambia to send and receive money globally, based on their convenience and needs. Zoona is a leading fintech and enterprise payments platform in Zambia. Acquired by […]
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By Justin Asher, Head of Strategy & Marketing at upnup Anyone looking to launch an African startup in 2023 must be sorely tempted to do so in the fintech space (provided they have the relevant background and expertise). After all, fintech has been on something of a streak on the continent. Most of the continent’s […]
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By Eric Osiakwan I ended my May 2021 essay with the hypothesis “…leading fintechs might turn around and start acquiring the banks” and, sure enough, on the 12th of May 2021, the Competition Authority of Kenya in a gazette notice approved the acquisition of 84.89% stake in Century Microfinance Bank by Branch International Limited – […]
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Eric M K Osiakwan On 1st of April, as I was publishing my Uniconization of African Fintech piece, Mastercard was busy announcing their $100 million investment into Airtel Money (Airtel Africa’s mobile money subsidiary) to acquire a minority position – half what TPG Capital did. Even though I had gotten wind of the transaction knowing […]
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By Eric M K Osiakwan The first quarter of 2021 ended on a great note as two African fintech businesses gained unicorn status, a rare fit amidst a ragging global pandemic which is finally being aggressively tackled by the speedy supply of much-needed vaccines. Such is the African story – a trail of surprises in […]
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