Chumz, a Kenyan fintech that enables users to set savings goals with mobile money, has reached 200,000 users and is testing its services in Rwanda. With unique prompts encouraging behavior-based saving, Chumz empowers users with accessible financial tools. Expansion plans target 1 million users across East Africa by 2026.

Kenya is set to revolutionize its financial landscape with the introduction of a new Fast Payment System (FPS). This cutting-edge platform will ensure seamless transactions between banks and fintechs, eliminating existing barriers. The FPS promises to enhance accessibility, making financial services more convenient for all Kenyans.

M-KOPA, a Kenyan fintech giant known for financing solar systems and smartphones, has appointed former Nokia CEO Rajeev Suri as its new board chair. As the company gears up for rapid expansion, Suri's leadership is set to guide M-KOPA into a new era of growth and innovation. With over 5 million users across Africa, M-KOPA is reshaping digital and financial inclusion.

🌍 Flutterwave, Africa's largest fintech, is gearing up for its next phase of growth. With new executive hires and a refined product focus, CEO Olugbenga Agboola aims to establish the company as the Adyen of Africa. Could Flutterwave's expansion and IPO plans be just around the corner?

Kenya’s competition authority has fined Eleving’s local subsidiary, Mogo Kenya, for deceptive lending practices. As Kenya tightens regulations on unethical digital lending, this penalty exposes continued breaches of consumer trust. Could this be the tipping point for curbing unethical digital loans in the country?

Scale, a South African startup, has secured $700,000 in pre-seed funding to expand its customizable card-issuing services across Africa. Partnering with Visa and Mastercard, the company is solving key pain points for fintechs in the region. 🚀💳

Nine African startups have been recognized for their innovative solutions on this year's prestigious Impact/100 list, showcasing their potential to drive meaningful change.

The global cross-border payment market is booming, yet many businesses are still underserved by traditional banks. 🌍💸 Conduit is stepping in to revolutionize the landscape, expanding from Latin America into Africa, and making it easier for businesses to connect to the global financial system. Here’s how they plan to transform international transactions.

Exciting times ahead for Egyptian fintech! Lucky ONE has just raised $3 million in a convertible debt round to boost its credit platform and venture into new regional markets. This latest funding marks a significant milestone in their mission to provide innovative financial solutions across Egypt and beyond. 🚀

Pesa is breaking barriers in the remittance industry, providing fast, affordable, and secure money transfers across continents. With a multi-currency wallet, Pesa is transforming how diaspora communities send money home. 🌍💸

Dopay, the Egyptian fintech revolutionizing payroll, has raised an additional $13.5 million in a Series A extension round. With these new funds, Dopay is set to accelerate its expansion in Egypt and beyond, launching innovative financial services to better serve unbanked workers. Discover how Dopay is transforming the financial landscape in emerging markets.

Nala, a Tanzanian fintech startup, just closed a $40 million Series A round to bolster its B2B payments platform and expand remittance services. This funding, led by Acrew Capital, marks one of Africa’s largest Series A deals, showcasing investor confidence in Nala’s vision. 🚀💸

🚀 Nigerian fintech Okra is stepping into the cloud services arena! By offering a cost-effective alternative to giants like AWS and Azure, Okra aims to revolutionize how businesses in Nigeria manage and host their data. Discover how this move is set to reshape the landscape for startups and big businesses alike.

Nala, the Tanzanian fintech startup, has secured $40 million in Series A funding led by Acrew Capital, marking a significant milestone in its mission to transform the African payments landscape. As Nala expands its B2B payments platform, Rafiki, it aims to tackle long-standing remittance challenges, ensuring seamless and cost-effective cross-border transactions. This funding surge positions Nala as a key player in Africa’s burgeoning fintech sector.

Minka, a Colombian fintech backed by Tiger Global, is the latest Latin American company to tap into Africa's burgeoning digital payments market. By setting up operations in East Africa, Minka aims to bridge financial gaps similar to those in Latin America, leveraging its successful model to enhance financial inclusion.

Nigerian fintech giants OPay and Moniepoint are leading a significant shift from international card schemes to local alternatives. With 17 million Verve cards issued, this move is reshaping the Nigerian payments industry, driven by changing consumer behavior and economic factors.

TymeBank, Africa's fastest-growing digital bank, is on the verge of securing $150 million in Series D funding. This ambitious move aims to propel its valuation to unicorn status and fuel its expansion into new markets, including Indonesia, by the end of the year. With a profitable track record and strategic partnerships, TymeBank is poised for significant growth.

Kenya is preparing sweeping new changes to its Payment Systems Act in a major shake-up of its fintech market, as Nairobi aims to replicate the success story of M-Pesa.

Nigerian fintech startups could face significant costs following new KYC requirements by the Central Bank of Nigeria, potentially spending over $1 million on physical address verifications. 🌍💸

YC-backed Elevate, formerly known as Bloom, has pivoted from its Sudanese roots to offer vital fintech solutions for freelancers across emerging markets. Amid political instability and economic challenges, this startup is transforming how freelancers manage and receive payments globally. 🌍💼

Leading Nigerian fintechs, including Kuda Bank, Moniepoint, OPay, and Palmpay, are back to enrolling new customers after a suspension period. This pause, mandated by the Central Bank of Nigeria (CBN), aimed to enhance compliance and curb unauthorized forex transactions. Discover how this regulatory move shapes the future of digital finance in Nigeria.

The massive growth of a number of Africa's e-commerce and fintech startups points to the success of disruptive retail distribution models on the continent.

Flutterwave, a leading Nigerian fintech company, recently suffered a major security breach resulting in the loss of ₦11 billion ($7 million). This incident, which involved unauthorized transfers to multiple bank accounts, highlights the persistent challenges faced by financial institutions in combating cybercrime. Discover the details of this breach and its implications for the fintech industry.

Tanzania's Central Bank implements strict measures targeting unlicensed digital lenders, aiming to curb predatory lending practices and protect consumers from high-interest rates and debt-shaming tactics.

💳 Get ready, Nigeria! Starting May 20, 2024, every electronic transaction will come with a 0.5% cybersecurity levy. But what does this mean for your digital payments?