MoneyHash, the first and leading payment orchestration platform operating in the Middle East and Africa (MEA), has secured $5.2M in pre-A funding. The round was led by Flourish Ventures, a global fintech investor known for backing industry leaders such as Chime and FlutterWave. New investors include Saudi’s Vision Ventures, Arab Bank Venture Capital, and Emurgo
Mastercard has opened its first office in Accra, Ghana, to support the country’s growing digital economy. This expansion strengthens its footprint across Africa, with existing offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, and Mauritius. This move is part of Mastercard’s strategy to reinforce relationships with local stakeholders and foster inclusive growth in West Africa. “Opening
Stitch, a payments infrastructure company, recently acquired in-person payments provider ExiPay, expanding its enterprise payments offering to encompass both online and in-person payments through a single, unified platform. Despite the continued growth of e-commerce, in South Africa in 2024, just 6% of retail transactions took place online, projected to reach 10% in 2025. An increasing
Malek Ferdi, Senior Director Africa Diebold Nixdorf Banks in Africa While the African banking sector has regularly demonstrated its resilience, it still needs to address the issues of inclusivity and sustainability in its various territories to cement its transformation in favour of citizens, entrepreneurs and communities. In search of new challenges, African banks must be
South Africa is set to host the Finance in Common Summit (FiCS) in February 2025, marking a transformative milestone in the continent’s development finance narrative. This historic occasion coincides with South Africa’s assumption of the Presidency of the Group of 20 (G20), amid a period of significant political change and growing economic confidence. FiCS 2025,
Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet. The secure digital store of value follows Mukuru’s award of a Deposit-Taking Microfinance Institution (DTMFI) licence in Zimbabwe by the Reserve Bank of Zimbabwe. Building on Mukuru’s trusted capabilities, which support more than three-million Zimbabwean customers, the wallet has several benefits, including its standout
Financial inclusion doesn’t begin and end with a bank account. It will be solved by a multitude of payment technologies – including cash. Financial inclusion is an elusive goal now closer to realisation than ever. It’s being tackled through various innovations from traditional banking and non-banking sources such as fintechs. According to a World Bank
Steven Maier, Chief Brand Officer at Amplifin As the South African payments landscape prepares for a significant shift, businesses reliant on DebiCheck debit orders, and specifically when authentication was not successfully obtained from Debtors, must brace themselves for the mandatory transition from the Registered Mandate Service (RMS) to the new Registered Mandate (RM) payment stream
Tranglo, a Cross-border payment hub, has expanded its services in Africa. Tranglo now facilitates payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. Remittances are crucial for African households and businesses. Tranglo offers efficient and cost-effective solutions to address high remittance fees. The World Bank estimates that remittances to Sub-Saharan Africa reached US$ 54
EFT Corporation, an African-focused fintech and payment solutions provider, recently hosted its EFT Corporation Connect: Zambia event in Lusaka. Featuring presentations led by EFTCorp’s team alongside an address from a representative of the Zambian Ministry of Technology and Science, the event brought together leaders and innovators from Zambia’s banks, microfinance, and the fintech sector. The
