Fintech Chari awarded the ‘Disrupter of the year’ trophy at the Africa CEO Forum

MOROCCO – Chari, a fintech and e-commerce startup, has been awarded the ‘Disrupter of the year’ trophy at the Africa CEO Forum in Abidjan, Ivory Coast. The Africa CEO Forum is organized by Jeune Afrique Media Groupe and hosted by IFC (International Finance Corporation), a branch of the world bank. This year, the Africa CEO Forum highlighted the best African…

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Fintech startup CredPal secures investment from Cairo Angels Syndicate Fund

NIGERIA – Egypt-based VC fund, the Cairo Angels Syndicate Fund (CASF), has invested an undisclosed amount in the Nigerian fintech startup, CredPal. The CASF funding will be used to expand CredPal’s services across Africa with a focus on key markets, namely Egypt, Kenya, Ghana, and Cameroon. “This support from Cairo Angels Syndicate Fund reinforces our mission to improve the quality…

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Proparco grants portfolio guarantees to financial services in Cote d’Ivoire to support MSMSEs

CÔTE D’IVOIRE – Proparco, a Development Finance Institution partly owned by the French Development Agency (AFD), has granted 6 portfolio guarantees to Société Générale Côte d’Ivoire, Ecobank Côte d’Ivoire and Advans Côte d’Ivoire. The guarantee amounts to a total of €30.7 million (US$32.12m), to enable the three financial institutions increase their financing activity for MSMEs in the country. These guarantees,…

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Super App Gozem partners IFC to launch US$10m project to empower moto-taxi drivers

TOGO – Gozem, a super app that provides a host of services — including transport, e-commerce and financial services in Francophone Africa, and the International Finance Corporation (IFC) have signed a US$10 million partnership. The project will enable Moto-Taxi drivers in Togo and Benin to access affordable vehicle financing to purchase or rent bikes with the ultimate goal of increasing…

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Peter Kioko appointed as acting Managing Director of National Bank of Kenya

KENYA – The National Bank of Kenya (NBK), a commercial bank in Kenya and a subsidiary of KCB Group Plc, has appointed Peter Kioko as acting Managing Director effective June 10, 2022. Kioko was appointed to fit the shoes of Paul Russo, who was last month appointed as the Kenya Commercial Bank CEO following the exit of Joshua Oigara. “KCB…

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Phone brand Tecno set to launch mobile wallet for customers to make payments to small businesses

KENYA – China-based phone maker, Transsion has announced that it is planning to launch a mobile money wallet service in Kenya to allow customers to make payments to small businesses and retailers. TECNO Wallet is being introduced through strategic partnerships with unnamed third-party financial institutions. “Tecno will be available for download on selected existing device series and will come pre-installed…

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Airtel Africa divests 25% stake in its local mobile money business, Airtel Money

KENYA – Airtel Africa, a multinational company that provides telecommunications and mobile money services, has sold a 25.77 percent stake in its local mobile money business, Airtel Money, as part of a continent-wide deal that has seen it raise US$550 million from four institutional investors, reports The East African. The multinational’s interest in Airtel Money Kenya Limited dropped to 74.23…

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