Network International Appointed as Payment Processing Partner by MTN Group Fintech

Posted on by kara | 1077 Views | 7 min read
Network International

Network International, a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor and issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider. This partnership marks a significant extension of Network’s portfolio of issuer processing collaborations throughout the African continent. With a footprint

Flutterwave Secures Payment System License in Zambia

Posted on by kara | 967 Views | 6 min read
Flutterwave

Flutterwave, a Nigeria-based payments technology company, has obtained a Payment System License from the Bank of Zambia, allowing it to provide mobile money services. This license enables the company to facilitate local and international business transactions while supporting financial inclusion and economic activity. Zambia’s digital payments sector is growing, with mobile money contributing to nearly

GTBank Removes POS Processing Fees to Support Businesses

Posted on by kara | 1180 Views | 4 min read
GTBank

GTBank (Guaranty Trust Bank Ltd) has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions. This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving customer payments.

Raenest Secures $11M Series a Investment in Qed-Led Funding Round

Posted on by kara | 1491 Views | 18 min read
Raenest

Raenest, the global multi-currency accounts platform for individuals and businesses across Africa, today announced the completion of its $11M Series A funding. The round was led by QED Investors, with participation from Norrsken22. Follow-on investment came from Ventures Platform, P1 Ventures, and Seedstars. This equity-based capital injection brings Raenest’s total venture funding to $14.3M. With

AWS to Accept Naira Payments, Shaping Nigeria’s Cloud Services Market

Posted on by kara | 1156 Views | 11 min read
AWS

AWS (Amazon Web Services), a global leader in cloud computing and a key provider for numerous Nigerian startups and commercial banks has announced it will now accept payments in Naira, in addition to seven other local currencies for European clients. This change is expected to reduce cloud expenses for many Nigerian companies, which often host

Mastercard Grows West Africa Footprint with First Ghana Office

Posted on by kara | 2823 Views | 5 min read
Mastercard

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

USTDA Advances U.S. Digital Banking Technology in Nigeria

Posted on by kara | 1402 Views | 15 min read
USTDA

USTDA Supports Zenith Bank’s Transition to Microsoft’s Azure Cloud Platform The U.S. Trade and Development Agency announced that it has awarded a training grant to Zenith Bank Plc (Zenith) to support institutional skill set transformation as it adopts the Azure hyperscale cloud platform from Washington-based Microsoft Corporation (Microsoft). Zenith’s switch to this technology will increase

Bidvest Bank Sold to Nigerian Giant Access Bank

Posted on by kara | 1573 Views | 18 min read
Bidvest Bank

Bidvest Bank is being sold to Nigerian-based Access Bank, which is set to expand the latter’s operations in South Africa substantially. In December 2024, JSE-listed Bidvest announced that it would dispose of 100% of Bidvest Bank Holdings Limited to Access Bank plc. Bidvest is expected to raise R2.8 billion from the sale, which will then

IFC Teams Up With Standard Bank and Rand Merchant Bank to Boost Local Currency Financing in Africa

Posted on by kara | 5888 Views | 8 min read
IFC

IFC, a member of the World Bank Group, has partnered with Standard Bank and Rand Merchant Bank (RMB) to help expand local currency financing for private businesses across Africa. IFC will collaborate with Standard Bank and RMB on cross-currency swaps to manage currency exposure related to its local currency lending. This hedging allows IFC to

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

Posted on by kara | 5134 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