Fintech Tala appoints Munyi Nthigah as its General Manager for Kenya

KENYA – Digital credit provider Tala has announced the appointment of Munyi Nthigah as its General Manager for Kenya. In his new role which he takes up immediately, Nthigah will oversee end-to-end business growth and overall operations for Tala Kenya’s 120-person team, accelerating Tala’s position as one of Africa’s leading fintech. “Mr. Nthigah brings a wealth of fintech experience to…

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Fintech startup FlexPay raises funding to help in its growth plan

KENYA – FlexPay, a Kenyan fintech startup, has raised funding from the Cairo Angels Syndicate Fund CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa as it looks to supercharge its growth and help more people avoid debt. FlexPay is an online and offline payment gateway that allows merchants to offer interest-free targeted…

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Early vc firm Rali Cap launches US$30m to invest B2B and API-first fintechs across Africa

AFRICA – Rali Cap, an early-stage venture capital (vc) firm focused on emerging markets, has launched a US$30 million fund. Investors who took part in the funding include FT Partners, Breyer Capital, Propel VC, Better Tomorrow Ventures, Bain Capital, Lateral Capital, a few family offices, and HNIs. The firm invests in B2B and API-first fintechs across Africa, Latin America and…

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Financial service company Cellulant partners Tanzania’s fintech NALA

TANZANIA – Cellulant, a Pan-African payments company, has teamed up with NALA, a Tanzania based fintech company, to power remittance payments from the United Kingdom and United States into Kenya, Uganda, Rwanda, Tanzania and Ghana. Besides Official Direct Assistance (ODA), remittances make up the second-largest source of external resources for Sub-Saharan Africa. In 2019, approximately US$48 billion was remitted in…

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CcHUB, Google presents 9 startups for Fintech Incubation Programme in Rwanda

RWANDA – Co-Creation Hub, in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation is excited to announce the nine startups selected for the Fintech Incubation Programme. The Fintech Innovation Project consists of the Fintech Incubation Programme and other developmental programmes. The programme is part of the ongoing efforts to turn Rwanda into the Fintech hub of…

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Safaricom to launch its fintech business M-pesa in Ethiopia following new legislation

ETHIOPIA – Ethiopia has started changing its national payments law to clear the way for Safaricom to introduce its popular M-Pesa in the market of 110 million people, reports Business Daily. Ethiopia’s central bank has drafted a Bill that will allow foreign investors to offer mobile money services, boosting firms such as Safaricom that are seeking to start operations in…

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Nigerian fintech startup Afriex secures US$10M series A funding round for expansion

NIGERIA – Afriex, a Nigerian blockchain-based money transfer startup has secured US$10 million series A funding round to expand its blockchain money transfer app. The round was led by Sequoia Capital China and Dragonfly Capital with participation from Goldentree, Stellar Foundation, and Exceptional Capital, among others. The startup will use the funds to develop a stable coin and has already…

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Fintech Laboremus Uganda secures funding to grow its platform in the neighbouring markets

UGANDA – Laboremus Uganda, the B2B fintech that enables onboarding at scale, has received a funding boost from DOB Equity and FCA Investments to grow the company’s platform in Uganda and neighboring markets. The investment from DOB and FCAI will enable Laboremus to expand its product offerings by adding new channels and verification services. “Access to credit is what stands…

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Fintech Stitch launches linked-account payments product for secure payments

AFRICA – Stitch, a payments and data API fintech, has announced the launch of LinkPay, a linked-account payments product. Businesses in South Africa and Nigeria can use LinkPay to accept secure, one-click payments directly from a user’s bank account. Payments are as simple as they are with a tokenised card, but without the high fees or chargebacks. LinkPay can be…

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BFA and FSD Africa launch a US$3.3M fintech venture launcher for climate resilience in Africa

AFRICA – BFA Global and FSD Africa has announced the creation of a first-of-its-kind venture launcher, TECA (Triggering Exponential Climate Action) for climate resilience in Africa. The launcher will create fintech start-ups with solutions that enable climate resilience in the most vulnerable communities around the world, with an initial focus on Africa. TECA will support pioneering entrepreneurs from the idea…

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