fintech

Kenyan digital lender Whitepath fined $2,000 for unlawful data use in second privacy violation

Kenya’s Office of the Data Protection Commissioner (ODPC)  has fined digital lender Whitepath KES 250,000 ($2,000) for violating data privacy…

5 months ago

Carbon resumes issuance of debit cards in partnership with Verve

Carbon, the Nigerian digital bank known for its loans-led approach to banking, has partnered with Verve, the Interswitch-owned card scheme…

5 months ago

Nigeria has been courting Flutterwave to list on the NGX since 2023. Can it afford the fintech?

Nigeria has been lobbying Flutterwave, its most valuable startup, to list on the Nigerian Exchange (NGX) since 2023. The government…

5 months ago

Ex-Kuda executive sues over gender discrimination, wrongful termination allegations

A former executive at Kuda, one of Nigeria’s leading fintech startups, has filed a lawsuit at an employment tribunal in…

6 months ago

NIBSS bets on QR codes as a cash alternative for small-value payments

The Nigeria Inter-Bank Settlement System (NIBSS), the country’s largest payment switch, is betting on QR codes as a cash alternative…

6 months ago

Safaricom, Kenyan commercial banks propose Pesalink for national payments overhaul

Safaricom and the Kenya Bankers Association (KBA) have proposed that Pesalink become the preferred next-generation fast payment system (FPS) in…

6 months ago

Moniepoint mirrors Jack-Dorsey’s Square with new POS

Moniepoint is testing an all-in-one point-of-sale (POS) terminal that combines payment processing, inventory management, and transaction reconciliation. The product is…

6 months ago

Moniepoint, OPay, PalmPay responded to 2024 ban with better data collection and compliance

In 2024, Nigerian fintechs faced significant regulatory pressure, including fines and a six-week ban on onboarding new users due to…

6 months ago

South African fintech Stitch acquires ExiPay to expand into in-person payments

Stitch, a South African fintech startup that provides online payments infrastructure for large enterprises, has acquired ExiPay, a startup that…

6 months ago

Safaricom’s M-Pesa to join Pesalink as Central Bank plans new payment system

Safaricom’s M-Pesa is set to join the Pesalink network, which could significantly reshape Kenya’s digital payments landscape. In a proposal…

7 months ago

YC-backed Waza launches Lync, an alternative to Mercury for African startups after $8m raise

Waza, a YCombinator-backed B2B payments company, has launched Lync, a banking product designed to help businesses manage multi-currency accounts and…

7 months ago

CBN fines Moniepoint and OPay ₦1 Billion each as Nigeria tightens fintech regulation

In a continuation of the Central Bank of Nigeria’s (CBN) increased scrutiny of fintech startups, two of the country’s most…

8 months ago

Visa invests in Orda, Oze, WorkPay, and OkHi to boost African financial inclusion

Visa, the world’s second-largest card payment processor, has made strategic investments in four African startups as part of its plan…

9 months ago

Moniepoint taps Stanbic IBTC CFO for its microfinance bank after $110 million raise

Moniepoint, the Nigerian fintech that recently raised $110 million at a billion-dollar valuation, has appointed Bayo Olujobi as the Chief…

9 months ago

MTN Nigeria to obtain two additional payment licences for MoMo PSB

MTN Nigeria, the country’s biggest telco, has applied for Payment Service Solutions Provider (PSSP) and Payment Terminal Service Provider (PTSP)…

9 months ago

YC-backed Bamboo expands to Canada with remittance product

Bamboo, the Y Combinator-backed investment app that allows Africans to buy and trade local and international stocks, is expanding to…

9 months ago

Nigerian fintechs ramp up compliance hiring months after customer onboarding ban

Kuda Bank, Moniepoint, OPay, and Palmpay have responded to the central bank’s April ban by expanding their compliance and fraud…

9 months ago

M-KOPA appoints former Nokia CEO Rajeev Suri as new board chairman

M-KOPA Holding, a Kenyan startup that offers financing for smartphones and solar systems, has appointed former Nokia CEO Rajeev Suri…

10 months ago

Fintech startup Lendsqr is launching ₦1 billion working capital for lenders

Lendsqr, a startup that provides all the software companies need to start a lending business, will now offer its clients…

10 months ago

Interoperability critical to the future of payment solutions in Africa

Favourable demographics, economic growth in the past decade, and innovation in payments infrastructure are working to define the future of…

10 months ago