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Issue 21
Sep 2 - Sep 8, 2019

Hi there - I hope you're having a great week!

We moved into a new office building on Monday, and it's been very exciting! Leaving the old workspace was a bit emotional, but so many talented people have joined the team in the past few months, and we needed a bigger, better office.

I'm looking forward to making a home out of this new space 💪🏾

Bolaji Akande
Product Specialist, Paystack
Payments
NigeriaSan Francisco based African fintech startup, Chipper Cash, expands to Nigeria. The African no-fee, cross-border payment startup, Chipper Cash, has expanded to Nigeria. Chipper Cash will offer its P2P payment service and app in Nigeria in partnership with Paystack. Techcrunch
GlobalStripe launches Stripe Capital to make instant loan offers to customers on its platform. Stripe launched Stripe Capital, a service for advancing cash to customers that in turn gets repaid out of their future sales made through Stripe’s payment platform. It's currently available to Stripe merchants and business customers of platforms and marketplaces that use Stripe Connect. Techcrunch
EgyptflyEgypt to partner with Amazon's online payment solution, PAYFORT. Online payment solution and Amazon subsidiary, PAYFORT, announced a partnership with flyEgypt to help flyers make payments using globally accepted credit and debit cards. IT News Africa
MoroccoMorocco’s second-largest telecom operator, Inwi, launches mobile payments. This launch will enable Inwi users to send and receive money locally and internationally from their mobile phones, without visiting a bank. The North Africa Post
NigeriaNigeria's Interswitch establishes N30 billion ($82 million) debt issuance to explore strategic options for its business. Interswitch, a fintech firm, has incorporated Interswitch Africa One Plc. to register a debt issuance programme with Nigeria's Securities and Exchange Commission(SEC) to explore strategic options for its business. This opens up the possibility of issuing debt securities to institutional investors and the general public. Fintech Africa
GhanaGhana Post introduces mobile money payment for WAEC, school placements cards. Ghanaian postal service, Ghana Post, has announced the sale of WAEC result checker cards on its mobile money payment network. Mr. Ansah, Chief Commercial Officer of Ghana Post, also hinted that Ghana Post will soon launch a collections platform that enables individuals, institutions, and businesses access other financial services offered by the postal service. Fintech Africa
Conversations
TwitterWallets Africa launches business wallet accounts CEO of Wallets Africa, John Oke (@thejohnoke) announced the new service which enables businesses to manage bulk payouts, expense payments and perform transfers via an API on this twitter thread
TwitterChipper Cash has appointed former co-founder of Gokada, Abiodun Animashaun, as its Country Manager. Nairametrics Founder, Ugochukwu Obi-Chukwu (@ugodre), recently shared the news on twitter
Banking & Finance
GlobalSWIFT publishes new API standard for pre-authorisation of funds SWIFT, a global provider of secure financial messaging services, has published a new API standard for the pre-authorisation of funds, which allows payers' banks to earmark funds for purchase in advance, guaranteeing that future payments will be honoured. This is the second SWIFT Open Banking Extensions API standard, and the latest addition to a global library of APIs that SWIFT is building in collaboration with banks, merchants and fintechs. IT News Africa
South AfricaAfrican financial services provider, Nedbank, partners with Microsoft. The bank is set to migrate key components of its IT infrastructure to the Microsofts’ cloud services, making it the first bank in South Africa to run operations of this scale on the cloud. IT News Africa
NigeriaPolaris Bank unveils new mobile banking app, offers a 50% discount on charges. Polaris Bank has unveiled its new Polaris Mobile Banking App and is offering customers a 50% discount on all transfer fees for 30 days after registration on the app. Nigeria Communications Week
AfricaCR2 and Network International partner to deliver mobile banking as a managed hosted service in Middle East & Africa. The managed hosted service enables banks to rapidly deploy their mobile banking services. The partnership will translate to low upfront costs and a significantly reduced need for IT support from prospective bank clients. Mobile Money Africa
NigeriaAccess Bank partners Lagos State Government to launch a 10 billion NGN loan portfolio for women. The bank collaborated with the Lagos State Employment Trust Fund (LSETF) to launch the LSETF W Initiative aimed at economically empowering women-owned businesses (with at least 50% ownership share) that have been operating for 1-5 years in Lagos State. Nairametrics
Remittance
GlobalKenya’s MoDE acquired by Singapore’s DT One to bolster its global mobile top-up solutions. MoDE, Mobile Decisioning, a Kenyan firm, which provides airtime credit to mobile network operators in emerging nations, has been acquired by Singapore’s DT One. MoDE will become DT One's Airtime Credit Services division and full integration is expected to be completed in Q4 2019. Techmoran
Regulatory
NigeriaNew CBN credit guidelines. The Central Bank of Nigeria (CBN) will introduce new credit guidelines for banks and their customers. These guidelines will help banks minimise their credit risks. The Sun
Fundraising
South Africa3 South African fintech startups just scored R23 million in loans. Alphacode, a subsidiary of Rand Merchant Investment, announced that it has awarded just over $1.5 million in supplier development loans to three fintech startups, Zande Africa, Bright On Capital and Livestock Wealth. IT News Africa
GlobalAccion Venture Lab launches $23M inclusive fintech startup fund. The new fund was raised with capital contributions from a number of participants, including the Ford Foundation, Visa Inc. and Proparco — the development finance institution of the French government. The new Limited Partnership fund will consider startups from any geography, as long as they meet specific criteria. Techcrunch
South AfricaSA’s Bulrush Agritech raises $16k angel funding round. Founded by husband and wife Sean and Kristi Rennie, South African startup Bulrush Agritech has raised ZAR250,000 (US$16,000) in angel investment to fund the continued development of its livestock management platform. Disrupt Africa
AfricaPEG Africa raises $5m in debt funding from ElectriFI to continue West African expansion. The funding comes in the form of subordinated junior debt and will be used for growth in PEG’s existing markets, where the CEO, Hugh Whalan, said it had been almost doubling in size every year since 2015. Disrupt Africa
Cryptocurrency
South AfricaSouth African crypto-exchange cuts trade fees in half. Cryptocurrency exchange, AltCoinTrader, has announced that it plans to reduce all fees by more than 50%, indefinitely. This move is a result of the blockchain industry in South Africa ‘heating up’ over the course of 2019. IT News Africa
Events
BusinessTech FinTech Conference 2019
September 11, Johannesburg
Nigerian Fintech Week 2019
October 28 - November 1, Lagos
Fintech World Forum
November 18 - 19, London
Jobs
Sendwave (formerly Wave)
Head of Partnerships New
West Africa
Paystack
Graphic Designer New
Lagos, Nigeria
Yoco
Inbound Sales Consultant New
Cape Town, South Africa
BI Engineer
Cape Town, South Africa
Senior Paid Media Manager
Cape Town, South Africa
Branch International
Operations Director
Lagos, Nigeria
Compliance Manager
Lagos, Nigeria
Mastercard
Senior Specialist
Johannesburg, South Africa
Fidelity Bank Ghana
IT Vendor Manager
Accra, Ghana
BitPesa
Head of Sales
Dakar, Senegal
Branding and PR Manager
Nairobi Kenya, Johannesburg South Africa
Cellulant
Peach Payments
Senior Software Engineer
Cape Town, South Africa
Product Designer
Cape Town, South Africa
Carbon (formerly Paylater)
Country Business Lead
Nairobi, Kenya
Senior IOS Developer
Lagos, Nigeria
UX Design Lead
Lagos, Nigeria
Cowrywise
Backend Developer
Lagos, Nigeria
Visa
Transit & Contactless Manager
Johannesburg, South Africa
Solutions Delivery Manager
Johannesburg, South Africa
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