Fintech

A collection of 68 posts

Fintech

Nclude Receives Investment from Mastercard to Support Egyptian Fintechs Driving Financial Inclusion

Nclude, an Egyptian fintech-focused VC firm founded earlier this year in partnership with Egypt’s leading national banks – Banque Misr, National Bank of Egypt, and Banque Du Caire – has received an undisclosed investment from Mastercard to help accelerate Egypt’s evolving fintech ecosystem and support the country’s digital transformation

Business

Contact Enters a Cooperation Protocol with Estadat Sports investment to Provide Club Membership Installment Services

Contact Financial Holding, a leading Egyptian non-banking financial services company, has announced the signing of a cooperation agreement with Estadat  Sports Investment to finance City Club memberships and provide City Club members with benefits and services provided by Contact at a competitive interest rate. Said Zater, CEO of Contact Financial

Business

Kiwe, a Social Banking App Partners with KlickIt to Provide Education Providers with a Cashless System

Kiwe, a social banking app has announced a partnership with KlickIt, Egypt’s payment management and digital collection platform for education fees to provide schools and educational entities with a cashless system to alleviate cash-handling pain points and empower financial literacy among youth. In their press statement, the startups stated,

Business

Geidea and Visa Partner to Accelerate Seamless Digital Payment Solutions across Egypt

Geidea, one of the MENA region’s largest financial technology companies by market share, has announced a strategic partnership with Visa, the world leader in digital payments, to bring Geidea’s sophisticated payment solutions to the Egyptian market. The strategic partnership of these two payment companies will drive financial inclusion

Business

Nigerian Mobile Payment Company, Paga Announces $14 billion in Transactions

Uk-based pan-African fintech company, Paga has announced its landmark N6.1 trillion (equivalent of $14 billion) made in transactions since January 2012, three years after it was founded. According to the Linkedin post seen by The Ouut, the company has significantly measured its growth per ₦2 trillion. “Total Processed Value

Financial Inclusion

Not Enough Fintechs. 57% of Africans are Still Unbanked

Between 2011 and 2016, 700 million people signed up for a bank account globally. In 2016, the World Bank (WB) set a goal of securing universal access to formal financial services by 2020. At the time, about two billion worldwide remain unbanked. As the World Bank sought to expand worldwide

Business

Tabby and Paymob Partner to Offer BNPL to Egyptian Retailers

Paymob, the leading omnichannel payments facilitator in MENAP, and Tabby, the Middle East’s leading payments and shopping app, have announced a partnership to fuel growth for Egyptian retailers by allowing businesses across Paymob’s network to benefit from Tabby’s split-in-four, interest-free payment solution via Paymob’s gateway. Tabby’

Business

Lucky and City Edge Partner to Provide Customers with Digital Payments Options

Lucky Egypt, a fintech startup that offers financial services, credit products, offers, and cashback rewards to Egyptians and indeed the entire Middle East region through its App has today signed a cooperation partnership with an Egyptian real estate developer, City Edge. Under this partnership, City Edge’s customers will be

Business

MTN's MoMo to pay customers UGX 5.7 billion

Mobile Telecommunication Company MTN’s subsidiary, MoMo Uganda, a mobile money platform has scheduled to pay its Ugandan customers UGX 5.7 million ($1,496.95) for the second quarter (April to June) of 2022. Following the enactment of the National Payment Systems (NPS) Act, 2020, MTN Uganda’s telco

Fintech

Brazilian Unicorn, EBANX, set to Compete its Entry into Kenya, Nigeria, and South Africa

EBANX, a major player in Brazilian payments, announced that it was entering Africa and would begin with Nigeria, Kenya, and South Africa. EBANX says it is prepared to take on the globe by entering new markets after nearly ten years of operation in Latin America. According to EBANX, Africa will

Banks

How Fintech Entrant into Egypt is Improving the Traditional Banks' Offerings

Egypt’s transformational legislation, combined with the impact of Covid-19, resulted in a 230% increase in cashless payments in the North African country in 2021 and a remarkable growth rate of 300% in investment funding in the same year. The country’s financial sector is now a toss-up between fintech

BaaS

Unlimint Launches Banking as a Service API Solution, Unlimint Banking and Cards

Unlimint, an internationally recognized Fintech company with offices on five continents has announced the launch of its Banking as a Service (BaaS) product, Unlimint Banking and Cards (UBC). The Fintech provides startups and companies with advanced payment capabilities through a developing financial interface. Unlimint Banking and Cards is a customizable,

Financial Inclusion

Google Wallet launched in South Africa

In an effort to establish a presence in South Africa’s fast expanding digital payments market, Alphabet Inc. has launched its Google Wallet. The COVID-19 pandemic has expedited digital transactions, and individuals are now more inclined to use their smart devices to make contactless payments. Consumers can pay for things

Fintech

Telkom Launches Telkom Lend to Offer Small Businesses Funding up to R5m within 24 hours

Small businesses can now apply online for funding between R20,000 ($1,100) and R5,000,000 ($300,000) through Telkom Lend, a new service from Telkom Business, within 24 hours. Without paperwork, lines, or waiting for a financial institution’s response, Telkom Lend replies to applications in less than

Appointment

Nigeria's Sudo Africa Gets Farida Kabri As New Head Of Growth

It seems Sudo Africa is keeping to its mission of growth and expansion as the fintech company appoints a new Head for its growth department. Sudo Africa has just made Frida Kabir Its new Head of Growth to help the organization meets its desired targets. Founded by Kabir Shittu and

Arab Financial Services

Arab Financial Services Expands its Digital Payments Solutions into the Egyptian Market

Arab Financial Services (AFS), a leading digital payment solutions provider and fintech enabler in the MENA region, has announced plans to expand its payments footprint in Egypt by opening a branch in the North African economic powerhouse. AFS Egypt will provide the country’s businesses and financial institutions with the

Fintech

How South Africa Raised Over $1Billion Funding in the Last 7 Years

According to Disrupt Africa’s South Africa Ecosystem Report 2022, 357 South African businesses have funded minimum total funding of US$993,684,600, which is only surpassed by Nigeria locations on the African continent. The nation is one of the “big four” locations for investments. It’s interesting how

Digital finance

South African Fintech, Nomanini, Expands Supply Chain Finance Solution to 8 New Markets

Through a strategic agreement with financial services provider Baobab Group, South African fintech startup Nomanini is extending the reach of its recently announced supply chain finance solution StockNow to eight additional African regions. Headquartered in Cape Town and founded in 2011, Nomanini has created a platform that enables unlicensed traders

Asia

RSwitch Partners With EFT Corporation For Rwanda's Fintech

Rwanda’s national e-payment system, RSwitch, has partnered with one of Africa’s fintech experts, EFT Corporation. This partnership comes in a bid to develop Rwanda’s financial technology, giving Rwandans ingress to their finances on various technology platforms. RSwitch is set to gain massively from this contract, which includes

Asset Recovery Agency

Kenyan High Court Freeze Flutterwave, 56 Other Bank Accounts

One of Africa’s biggest startups, and Nigerian fintech company, Flutterwave, is currently faced with money laundering charges as a Kenyan High court freezes its account and that of 56 others linked to it. Reported by journalists, the Kenyan Asset Recovery Agency (ARA) informed the court, that about seven accounts

Fintech

South Africa is Africa's Startup Powerhouse, With The Highest Number of Exits

According to the South African Startup Ecosystem Report 2022, which was published today by the SA SME Fund, Nedbank CIB, and startup-focused news and research organization Disrupt Africa, South Africa has become Africa’s startup powerhouse. The 17th publication and second country-focused report of the South African Startup Ecosystem Study

Fintech

Now Stitching with Stitch Payouts; South African Fintech Rolls Out New Product

The South African API Fintech startup, Stitch, has introduced Stitch Payouts. The startup claims the solution will simplify and make it faster for businesses to pay clients, suppliers, partners, and staff. Refunds, withdrawals, and disbursements are the three components of Stitch Payouts. Refunds will allow Stitch customers to reverse funds

Fintech

Paystack Makes yet Another Move: Launches Paystack Transfers in South Africa

Nigerian Fintech giant, Paystack, has launched the Paystack Transfers Service for its South African customers. The startup announced the development yesterday via its blog page. According to the startup, businesses can use the service to transfer money in small and large amounts to South African bank accounts through their dashboards

Daily

Eversend seeks funding for expansion after growing transaction volumes by 46-fold

Pan-African money transfer startup, Eversend has disclosed plans to raise additional capital in the coming weeks after growing transaction volumes 46-fold last year to $232 million. The jump in transaction volumes results from the company switching its focus from Africans remitting money home to cross-border businesses and cryptocurrency traders, said

Funding

Interswitch Secures $110 Million in Investment from LeapFrog and Tana Africa Capital

Africa’s payment company, Interswitch, has raised $110 million in investment from LeapFrog Investments and Tana Africa Capital. The investment will boost Interswitch’s plans to expand the digital payments ecosystem across sub-Saharan Africa. A portion of the investment has been acquired from existing shareholders, with Ignite Holdco Limited, made