Microsoft partners African Development Bank to support young African entrepreneurs

AFRICA – Global tech giant Microsoft has announced an expanded partnership with the African Development Bank’s Youth Entrepreneurship Investment Bank (YEIB) Initiative to support young African entrepreneurs. Microsoft’s Africa Transformation Office has pledged to work with the bank to ensure growth in entrepreneurship ecosystems, creating jobs and scaling impact in Africa through digital inclusion. “We believe much can be done…

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Fintech FairMoney partners Oradian to accelerate market growth

AFRICA – FairMoney, a credit-led mobile banking platform for emerging markets in Africa and Asia, has partnered with Oradian, a cloud-based core banking system, to power its next stage of growth and product innovation. Oradian services over 10 million banking customers, working with more than 50 tech lenders, banks and financing companies in 13 countries across Africa and Asia. Their…

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Absa Bank Kenya partners Huawei to build new digital foundation for branch networks

KENYA – Huawei Technologies and Absa Kenya have announced a new partnership to build a new platform to drive the bank’s corporate digital transformation program. The partnership involves establishing a software-defined wide area network (SD WAN), hailed as the next-generation technology and service designed to connect the bank’s branches, and promote smart branch upgrades by constructing a powerful network based…

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Clickatell partners with Central Bank of Nigeria to provide eNaira banking service

NIGERIA – Clickatell, a leader in global mobile messaging and pioneer in mobile technology, has partnered with the Central Bank of Nigeria (CBN) to deliver eNaira banking services to all Nigerians using the USSD channel. The two partners have launched a USSD channel for its eNaira Central Bank Digital Currency (CBDC) as part of the country’s drive to make basic…

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CDSC appoints Family Bank as Central Depository Agent to enhance its market access

KENYA – Family Bank Limited has been appointed as a Central Depository Agent (CDA) and as a settlement bank by the Central Depository and Settlement Corporation (CDSC), allowing the lender to widen its portfolio of financial services offered to its customers. The CDSC said that the move is in line with its strategy to increase both physical and digital access…

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Fintech startup SecondSTAX raises US$1.6m pre-seed funding to expand internationally

GHANA – SecondSTAX, a platform that connects institutional investors like pension funds and broker-dealers with international markets, has raised US$1.6 million in pre-seed funding from private investors and VC firms like LoftyInc Capital, Orbit54, and STEMeIn. According to co-founder and CEO Eugene Tawiah, this money will be used to expand SecondSTAX’s reach internationally by the end of the year. It…

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Fintech Julaya raises US$5m pre-Series A round of funding to support its expansion

IVORY COAST – Payment solution Julaya, which is based in and focuses on payments, has raised an additional US$5 million in a pre-Series A round of funding. The company has raised a total of US$7 million in the fundraising round to support its mission of facilitating business-to-business (B2B) payments for companies in Francophone West Africa, primarily using mobile money channels.…

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Nedbank collaborates with Africarare to launch banking services in the metaverse

SOUTH AFRICA – Nedbank, one of the largest financial services groups in Africa, has partnered with Africarare, Africa’s first metaverse, and secured a 12×12 village in Ubuntuland on which to establish its presence as the first African financial services organisation to enter the metaverse. This forms part of the financial services group’s strategy to lead in digital, go beyond banking,…

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KCB Group shareholders approve proposed Trust Merchant Bank SA acquisition

KENYA – KCB Group Plc shareholders have approved the proposed acquisition of the DRC-based lender Trust Merchant Bank SA (TMB). In August 2022, KCB Group Plc entered into a definitive agreement with shareholders of TMB to acquire the Bank. Under the terms of the transaction, KCB will acquire 85% of the shares in TMB while the existing shareholders will continue…

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Michael Joseph lends his expertise to Kenyan insurtech startup Pula, to lead its board

KENYA – Kenyan agriculture digital-insurance startup, Pula, has announced the appointment of Michael Joseph, the former Safaricom PLC Chairman and CEO, as the new Chairman of its Board effective September 19. Pula is an agricultural insurance and technology company that designs and delivers innovative agricultural insurance and digital products to smallholder farmers. “I am very pleased to welcome Michael Joseph…

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