IFC today announced a comprehensive financing package for Suez Canal Bank (SCB) designed to strengthen the bank’s capacity to expand lending to micro, small, and medium-sized enterprises (MSMEs) across Egypt. This strategic partnership aims not only to support business growth but also to create thousands of new jobs, promote economic stability, and help narrow the
As South Africa’s payments landscape evolves, integrating informal and Co-operative Banking Institutions into the formal financial system remains a critical barrier to inclusive economic growth. MoData, a payments technology enabler with deep roots in cash and digital payments infrastructure, offers scalable solutions, strategic consulting, and ecosystem engagement which can help bring key stakeholders like Co-operative
FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, has announced the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT App. This milestone marks a major step forward in advancing seamless, secure, and real-time cross-border payments across Africa — empowering
CRDB Bank has entered three landmark partnerships with leading development finance institutions, FinDev Canada, DEG (KfW Group, Germany), and Shelter Afrique Development Bank (ShafDB), marking a significant milestone in its transformation journey to advance inclusive and sustainable finance across Africa. The Memoranda of Understanding (MoUs) were signed during the CRDB Bank Investors and Partners Forum,
Moniepoint Inc., Africa’s all-in-one financial platform for businesses and their customers, has announced the successful close of its Series C funding round, securing more than US$200 million in equity financing. The investment underscores Moniepoint’s rapid growth, sustained profitability, and meaningful impact, and will enable the Company to advance its mission of powering the financial dreams
Over 400 business leaders, policymakers, investors, and regional integration experts have gathered in Kampala for the 3rd Stanbic East Africa Business Summit, a premier platform dedicated to unlocking East Africa’s full economic potential through trade, investment, and collaboration. Held under the theme “Connected & Resilient: Scaling East Africa’s Regional Advantage,” the two-day summit, hosted by
EFT Corporation, a leading provider of innovative payment solutions across African markets, today announced Adri Führi’s appointment as Group Chief Financial Officer (CFO), effective immediately. Führi brings over 25 years of extensive financial services experience to her new role, including over a decade of serving as CFO across multiple organisations. A qualified Chartered Accountant (South
PalmPay, a leading neobank and fintech platform focused on emerging markets, has been recognised in CNBC and Statista’s 2025 Top 300 Fintech Companies in the World list. This marks the second consecutive year that PalmPay has earned a place among the world’s most innovative and impactful financial technology firms. The selection is based on a rigorous evaluation
Across Africa, access is widening but gaps remain. Mobile money and instant payment rails continue to scale, yet distance to service points, liquidity constraints, and rising digital risks still hold back formal usage especially outside cities. The strategic question for banks is the following – will branch-centric distribution keep pace or will everyday payments continue
I&M Bank Tanzania, in partnership with Mastercard and OpenWay, today announced the launch of the country’s first Mastercard World Elite debit and multi-currency prepaid cards, powered by the Way4 digital payments platform from OpenWay. The new cards are designed to meet the evolving needs of Tanzania’s affluent and middle-market customers, offering lifestyle privileges, enhanced payment
