Focused on improving financial inclusion for West Africa’s low-income segment, a Nigerian fintech start-up, Aella has raised a $10m debt financing round, from HQ Financial Group (HQF), Singapore-based private company specializing in new material science, semiconductor and blockchain financial investments. This debt financing round is Aella’s second raise and will bolster the company’s commitment to […]
Read MoreNigerian fintech startup Paga, poised for global expansion, has announced its acquisition of Apposit, a United States (US)-based technology company with operations in Ethiopia. Founded in 2009, Paga provides Nigerians with safe and convenient ways of making payments, allowing money to be sent to any phone number for the beneficiary to redeem at a Paga […]
Read MoreThe Next Stage of Uganda’s Digital Economy Will Be Powered by Open Application Programming Interfaces (APIs) Today the vast majority of the applications used in Uganda are still private and the Application Programming Interfaces (APIs) are only available to third parties at exorbitant costs. While about 18 million Ugandans are now able to access services […]
Read MoreNigerian startup HouseAfrica has developed Africa’s first blockchain-based land and property registry, reducing the time it takes banks, lawyers and other stakeholders to query and register land titles. Formed in May 2018 to tackle problems around land ownership that lead to duplicate land titles and illegal sales, as well as low access to mortgages, HouseAfrica […]
Read MoreDigital money transfer service WorldRemit has partnered with Vodacom Tanzania to enable nine million M-Pesa customers to receive money directly to their M-Pesa wallets from friends and family living abroad. The new service increases convenience for money transfer recipients in urban and rural areas of Tanzania as they can receive international money transfers directly to […]
Read MoreMobile Points of Sale (mPOS) transaction values will exceed $1.9 trillion by 2024, up from $850 billion in 2019. This growth will be driven by service adoption from new business users, including pop-up stores and street vendors, for whom the acceptance of card payments was previously inaccessible. The new research from Juniper Research forecasts that, […]
Read MoreFSS, one of India’s payments processor and a global provider of integrated payment products, and US-based Oracle Financial Services, will collaborate to enhance digital payments for banks in Nigeria. As part of this strategic relationship, FSS will provide specialized integration and hosting services for Oracle’s cutting-edge Oracle Banking and Payments solutions. FSS will also extend […]
Read MoreThe MTN Group has granted third parties access to its Mobile Money (MoMo) Access Programming Interface (API) platform. The decision is in pursuit of its goal to contribute to bridging the financial divide, the company said in statement. The open API enables developers and programmers to innovate on the platform and develop products and other […]
Read MoreNigerian fintech startup E-Settlement is processing $2.5 million in transactions daily across its various platforms as it seeks to extend banking services to all. Founded by Olaoluwa Awojoodu in 2017, E-Settlement provides financial services to different target markets through its platforms, placing itself at the forefront of innovative, easy-to-use, affordable, secure and inclusive payment solutions […]
Read MoreThe total transaction value of the MFS (Mobile Financial Services) market will exceed $1 trillion by 2024; rising from $580 billion in 2019. This is a growth of 70%. The research identified a range of untapped opportunities in Latin America for services such as microfinance, microloans and money transfer, as a key driver of MFS […]
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