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Issue 30
Nov 4 - Nov 11, 2019

Hi there,

Our team went bowling over the week. Instead of spelling out who won, I'd like to draw your attention to the scores below 😎 (Kindly also take note of where Simi placed in the rankings :D)

If you're in Lagos and looking to challenge me to a game of bowling, let me know ;)

Finally, a few members of the Paystack team are in Singapore this week for the Singapore Fintech Festival! If you're in town, kindly seek out the Paystack booth and say hello to my colleagues Naomi, Yinka, and Abdulrahman!

Bolaji + Simi
Product Specialists, Paystack
Payments
NigeriaVisa to acquire a 20% stake in Interswitch, valuing it at $1 billion. Visa is paying $200m for a 20% stake in Nigerian payments giant Interswitch, ahead of a potential London IPO next year. Nairametrics
NigeriaOPay acquires Central Bank of Nigeria's approval for international money transfer services. OPay, a financial services platform, has been given approval by the Central Bank of Nigeria to commence international money transfer service in Nigeria. The approval would enable OPay facilitate B2B, B2P, and P2P remittance services into Nigeria. Business Day
NigeriaNigerian government discontinues cash payments in NIPOST offices. The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim, has ordered the discontinuation of cash payments in the offices of the Nigeria Postal Service (NIPOST) across the country. Tech Economy
South AfricaSouth African fintech startup Envisionit e-Pay rebrands to Truzo. South African online escrow payments startup Envisionit e-Pay has rebranded to Truzo as it prepares for global expansion. Founded in 2017, Truzo operates an online escrow payment service that aims to build trust amongst users when transacting online. Disrupt Africa
NigeriaMTN boost CBN’s financial Inclusion target with addition of 500,000 mobile agents. The Central Bank of Nigeria financial inclusion strategy has received a major boost with the addition of 500,000 agents by MTN’s subsidiary, Y’ellow Digital Financial Services (YDFS). The agents were added through the MoMo agency banking platform. Financial Technology Africa
GlobalVisa launches a new security suite for fraud prevention. Visa has unveiled a suite of new security services to detect fraud threats targeting banks and merchants. Among the free tools are Visa Vital Signs, which actively monitors transactions and alerts financial institutions of potentially fraudulent activity at ATMs. Techmoran
Banking & Finance
NigeriaCentral Bank of Nigeria (CBN) to earn N1.5Bn (~$4.2 million) monthly from stamp duty charge on POS transactions. CBN is to earn at least N1.5 billion monthly from the implementation of NGN 50 stamp duty charges on transactions carried out via Point of Sales (PoS) terminals. This is based on data released by the Nigeria Interbank Settlement System (NIBSS), which showed that the monthly average volume of POS transactions in the country stood at 31 million. Nigerian Communications Week
NigeriaNewly licensed Globus Bank launches operations in Nigeria. Globus Bank Limited, a new bank licensed by the Central Bank of Nigeria, has announced the launch of its operations in Nigeria. Nigerian Communications Week
Regulation
KenyaKenya passes data protection law for technology investments. Kenyan President Uhuru Kenyatta approved a data protection law that complies with European Union legal standards as it looks to bolster investment in its information technology sector. The new law sets out restrictions on how confidential data obtained by firms and government entities can be stored and shared. Business Report
Events
Singapore Fintech Festival
November 11 - 15, Singapore
Fintech World Forum
November 18 - 19, London
Africa Fintech Summit
November 21, Addis Ababa
Money Live Summit
November 25 - 26, London
Jobs
Kuda Bank
Database AdministratorNew
Lagos, Nigeria
QA EngineerNew
Lagos, Nigeria
SafeBoda
Growth ManagerNew
Nairobi, Kenya
Payments ManagerNew
Nairobi, Kenya
Fidelity Bank Ghana
Branch ManagerNew
Accra, Ghana
Aza Finance
Junior Product ManagerNew
Nairobi, Kenya
Chief Revenue Officer
Lagos, Nigeria
Senior Engineer
Nairobi, Kenya
Facebook
Communications ManagerNew
Dubai, United Arab Emirates
Client Partner
Johannesburg, South Africa
Carbon (formerly Paylater)
Data Scientist
Lagos, Nigeria
Branch International
Data Analyst
Nairobi, Kenya
Operations Director
Lagos, Nigeria
Compliance Manager
Lagos, Nigeria
Yoco
Software Tester
Cape Town, South Africa
BI Engineer
Cape Town, South Africa
Senior Paid Media Manager
Cape Town, South Africa
Affinity
Peach Payments
Frontend Web Developer (Remote)
Cape Town, South Africa
Senior Software Engineer
Cape Town, South Africa
Operations Specialist
Cape Town, South Africa
Visa
Marketing Manager
Lagos, Nigeria
Solutions Delivery Manager
Johannesburg, South Africa
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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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