| Nigeria | OurPass expands to business banking. OurPass, a Nigerian payments company which previously offered one-click checkout solutions to e-commerce businesses, has expanded to providing banking services to merchants. In addition to payment tools like POS terminals and payment links, the fintech now offers bank accounts and loans to businesses. TechCabal |
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| Africa | Moods of African financial industry. Deloitte published The Africa Financial Industry Barometer, their report featuring a detailed survey of leaders in financial institutions across Africa. The report states that leaders in African financial institutions are confident about favourable economic conditions and are increasingly open to collaborations with fintechs. Deloitte |
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| Global | The state of global fintech funding so far. FTPartners has released a detailed report of fintech investments into private companies for the first quarter of 2023. Fintech funding in Q1 2023 was $17.7 billion, a 53% increase from the previous quarter. FTPartners |
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| Africa | Yellow Card launches payments APIs for businesses. Yellow Card, a leading African crypto exchange and payments company, has launched its new payments API for businesses. Businesses can now accept and transfer fiat currency to and from local payment channels using the Yellow Card API. Yellow Card |
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| Nigeria | Lazerpay shuts down. Lazerpay, a Nigerian payments company which offered crypto-powered payment solutions to businesses, has shut down its operations. According to Founder, Emmanuel Njoku, this comes after the company was unable to secure the follow-on funding needed to stay afloat. Disrupt Africa |
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| Kenya | Fonbnk partners with Tanda to expand its crypto and airtime exchange platform. Fonbnk, a Kenyan cryptocurrency company that enables customers to swap mobile airtime for cryptocurrencies, has partnered with Tanda, an agent network. With this partnership, Tanda agents will be able to buy and sell airtime on Fonbnk’s platform. TechCabal |
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| Kenya | Worldcoin expands into Kenya. Worldcoin, a blockchain-based digital identity and cryptocurrency platform, has launched operations in Kenya. The expansion will involve partnering with local organizations to offer education on cryptocurrency and introducing a P2P cryptocurrency exchange. Mariblock |
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Share a tip | Do you have an announcement, event, or job posting you'd like to share, or have you come across an interesting bit of African fintech news recently? Hit reply and let me know! I might be able to include it in next week's newsletter. |
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