Moniepoint: Africa’s Fastest-Growing Fintech Secures $110M to Scale Digital Payments & Banking

Posted on by kara | 8749 Views | 22 min read
Moniepoint

Moniepoint Inc. (“the Company” or “Moniepoint”), Africa’s fastest-growing fintech, announces it has successfully raised US$110 million in equity financing to power the dreams of millions of businesses and their customers across Africa and the diaspora. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt) has an enviable track record of

Absa Secures US$150mn Facility for African SMEs from BII

Posted on by kara | 6112 Views | 6 min read
Absa

Absa Bank CIB has secured a US$150mn facility from the UK’s British International Investment (BII) to fund sustainable trade in Africa. According to a joint press release, the financing will support transactions, including those benefiting women—and youth-led SMEs. The press release says the partnership is “making strides in advancing the efforts of the African Continental

Volante Technologies and Standard Bank Partner to Transform Africa’s Payments with Historic PaaS Deal

Posted on by kara | 6251 Views | 11 min read
Volante

Volante Technologies, the global leader in Payments as a Service (PaaS), is proud to announce a strategic partnership with Standard Bank, Africa’s biggest bank by assets, to modernize payment infrastructure across the African continent. This marks one of the most ambitious PaaS payment deals signed in history. No other payment provider services this many countries

IFC and Equity Bank of Kenya Partner in Landmark Facility to Support Financial Inclusion for Refugees

Posted on by kara | 6874 Views | 11 min read
IFC

IFC today announced a risk sharing facility for Equity Bank of Kenya that is the first globally to be dedicated to financial inclusion for refugees and their host communities. The $20 million facility will boost financial inclusion for individuals and small businesses in Kenya’s most underserved regions, including the Turkana and Garissa refugee hosting areas,

South African Bank Blocks Crypto Payments, Faces Industry Backlash

Posted on by kara | 8125 Views | 8 min read
South African Bank

South African bank Capitec has blocked electronic funds transfers and real-time payments to cryptocurrency exchanges as a security measure. While Capitec acknowledges growing interest in cryptocurrencies, the bank maintains that the measure is necessary to protect clients from fraud. Some industry players view this move as an attempt to restrict crypto trading. Crypto Payments Blocked

NCBA Expands in Ukunda to Provide Customer Banking Solutions

Posted on by kara | 5920 Views | 3 min read
NCBA

NCBA has expanded in Ukunda, as part of its strategy of taking the businesses into new sectors of the economy, as well as providing its services to local clients. Following this announcement, the NCBA Customer centric approach will ensure clients enjoy full banking services, including asset financing, personal and business loans, digital banking, as well

The Central Bank of Kenya Migrates to ISO20022 Standard

Posted on by kara | 5553 Views | 7 min read
The Central Bank of Kenya

The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). KEPSS, Kenya’s Real-Time Gross Settlement (RTGS) system, is operated by CBK to process large-value and time-critical payments. It is the backbone of Kenya’s domestic and regional payment

NMB Bank Plc Launches Tanzania’s First QR Pay by Link (QR PBL) Payment Solution in Collaboration with Mastercard

Posted on by kara | 6666 Views | 14 min read
NMB Bank

NMB Bank Plc, in collaboration with Mastercard, proudly announces the launch of Tanzania’s first QR Pay by Link (QR PBL) payment solution, a significant milestone in the country’s journey toward digital transformation. This innovative solution allows SMEs to accept card payments via QR code or secure link, providing businesses with an efficient, cost-effective way to

Ecentric Drives Innovation in in Person Payments, Targeting Retail Growth With Data-Driven Solutions

Posted on by kara | 9898 Views | 14 min read
Ecentric

Ecentric, a leading omnichannel payments provider, has announced significant enhancements to its In Person Payments platform to improve performance and reliability, meet customer requirements around reporting and analytics, and drive growth as the company extends its offering to Tier 2 retailers in the local market. “Ecentric is committed to continuously innovating the In Person Payments

Milken and Motsepe Prize in FinTech Announces 10 Semifinalists

Posted on by kara | 4350 Views | 15 min read
Milken

Milken Institute and the Motsepe Foundation announced the 10 teams advancing to the Semifinalist Round of the MilkenMotsepe Prize in FinTech, with each team receiving $100,000 in funding. Responding to a global call for applications, this prize supports innovative solutions to expand access to tools necessary for financial inclusion across emerging and frontier markets. The