Kacha Digital Financial Services becomes first private mobile money company in Ethiopia

ETHIOPIA – The National Bank of Ethiopia has formally granted a mobile money licence to Kacha Digital Financial Services S.C., making it the first private company to hold such a license. Kacha, which has a registered capital of 200 million Birr (US$3.80m), heralds the start of a new era for expanded private sector involvement in the framework of the country’s…

Read More

Telecoms company Airtel Kenya splits mobile money after selling minority stake

KENYA – Airtel Group, a telecoms company, has announced that its Kenyan subsidiary, Airtel Kenya will be splitting its mobile money business, Airtel Money, from its main company. Airtel Money will now be operating under the name ‘Airtel Money Kenya Limited’. “Following this business separation, Airtel Money Kenya Limited will take over and continue the provision of the Airtel Money…

Read More

Impresa Capital acquires online community website Gumtree South Africa

SOUTH AFRICA – Gumtree South Africa, an online classified ad and community website, has been purchased by Durban-based Impresa Capital from Norwegian firm Adevinta for an unknown sum. Gumtree South Africa will now have South African owners for the first time in 18 years, after having been controlled by American international e-commerce business eBay and subsequently Adevinta. The majority owner…

Read More

Fintech infrastructure startup Bloc acquires payments company Orchestrate

NIGERIA – Bloc, the Nigerian full-service fintech and Banking-as-a-Service (BaaS) infrastructure provider, has announced its acquisition of Getwallets, the wallets-as-a-service provider that has now recently pivoted to become payments orchestration company Orchestrate. The strategic acquisition of Orchestrate will enable Bloc to focus its core product strategy on delivering seamless BaaS and banking services while Orchestrate leads its fintech infrastructure with…

Read More

Solar systems provider d.light secures US$50m investment to expand its PAYG business

AFRICA – d.light, a pioneering manufacturer and provider of renewable energy solutions, has received a new US$50 million investment from an international lender consortium. The consortium is comprised of Mirova SunFunder, TDB (Trade and Development Bank), and FMO, the Dutch entrepreneurial development bank. The investment is structured as a balance sheet debt facility and will allow the company to continue…

Read More

Equity Bank Kenya partners Tanzania’s payment processing startup NALA

TANZANIA – Equity Bank Kenya, a financial services provider, has signed a partnership with NALA Payments Limited, a Tanzanian-based remittance payment processing startup to facilitate diaspora remittances into Kenya. This partnership will allow Kenyans living in the United Kingdom and the United States to send money directly from their banks, through the NALA app, instantly and at the most competitive…

Read More