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Issue 31
Nov 12 - Nov 18, 2019

Hi there,

Our team is now about 100 people strong, more than half of whom joined in 2019. We spent the weekend bonding and learning more about each other at Inagbe Resort.

Bolaji + Simi
Product Specialists, Paystack
KenyaCellulant and Tawakal in a €2m partnership deal with PiPiT. PiPiT, an Ireland-based online payment platform, has entered into a €2m partnership deal with Cellulant (Pan-African payments company) and Tawakal (Kenyan money transfer company) to provide a variety of financial services in Kenya. Tech Moran
KenyaKenyan mobile money transactions up by 10.5%. Kenya’s mobile money transactions increased by 10.5% in the first 9 months of 2019 as compared to a similar period in 2018. Customers transacted 3.2 trillion shillings (~$31.7 billion) on their mobile phones in the period ending September, up from $28.7 billion in a corresponding period in 2018. Mobile Money Africa
GlobalMastercard launches Fintech Express. Mastercard has launched Fintech Express, a service that gives fintechs access to a suite of digital-first products, flexible commercial agreements, and global licensing support to scale globally. They have on-boarded their first partner Rapyd, a fintech service platform who has recently raised $100 million in funding.
GlobalFacebook launches Facebook Pay. Facebook has launched Facebook Pay, a consolidated payments service that works across its main apps: Messenger, Instagram, and WhatsApp. Facebook said the service would allow users to send money or make a payment with security options such as PIN or biometrics on their smartphones. Reuters
GlobalGoogle to offer checking accounts in partnership with banks starting next year. Google is gearing up to offer checking accounts to consumers, starting as early as next year. The company is calling the project Cache, and it’ll partner with banks and credit unions to offer the checking accounts, with the banks handling all financial and compliance activities related to the accounts. TechCrunch
TwitterIs airtime the cryptocurrency token for Africa’s emerging consumers? Michael Kimani (@pesa_africa) and Wiza J. (@wizaj) discuss in this Twitter conversation.
Banking & Finance
NigeriaNigerian bank worker unions threaten indefinite nationwide strike from January 2020. The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and its counterpart, the National Union of Banks Insurance and Financial Institutions (NUBIFIE), have threatened to embark on an indefinite nationwide strike from January 2, 2020 over claims that their employers have failed to review a Collective Bargaining Agreement.
AfricaOrange gets a banking licence to operate in Francophone West Africa. French telecom company Orange has announced that it has obtained a banking licence from the Central Bank of West African States to operate a savings and loan service in French-speaking West African countries. TechLoy
ZimbabweZimbabwe's 2% transactional tax stays. Zimbabwe will continue collecting the 2% transactional tax which it introduced in October last year despite continued disapproval from the public. While unveiling the 2020 national budget in the National Assembly, Finance minister Mthuli Ncube said while the intermediated electronic money transfer tax will stay, the minimum threshold had been increased from $20 to $100. Mobile Money Africa
NigeriaPalmPay launches in Nigeria on $40M round led by China’s Transsion. PalmPay has launched in Nigeria after raising a $40 million seed round led by Chinese mobile-phone maker Transsion. As part of the investment, PalmPay entered a strategic partnership with mobile brands Tecno, Infinix, and Itel that includes pre-installation of the Palmpay app on 20 million phones in 2020. TechCrunch
NigeriaOpera's fintech startup OPay raises $120M from Chinese investors. Nigeria fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to scale in Nigeria and expand its payments product to Kenya, Ghana, and South Africa. TechCrunch
Funding Opportunity
LABS by ARM 2.0
Asset and Resource Management (ARM) and Ventures Platform have launched Labs by ARM 2.0, a fintech-focused accelerator program designed to support the best early-stage companies solving the hardest problems in the financial industry.
Africa Fintech Summit
November 21, Addis Ababa
Money Live Summit
November 25 - 26, London
Tech Summit
December 13 - 14, Ghana
Vice President, Government EngagementNew
Johannesburg, South Africa
Strategic Merchant RMNew
Johannesburg, South Africa
Data AnalystNew
Nairobi, Kenya
Payments Manager
Nairobi, Kenya
Fidelity Bank Ghana
Branch Manager
Kumasi, Ghana
Carbon (formerly Paylater)
Senior Platform engineerNew
Nairobi, Kenya
Data Scientist
Lagos, Nigeria
Kuda Bank
Product & Motion DesignerNew
Lagos, Nigeria
Aza Finance
Chief Revenue Officer
Lagos, Nigeria
Senior Engineer
Nairobi, Kenya
Client Partner
Johannesburg, South Africa
Branch International
Data Analyst
Nairobi, Kenya
Operations Director
Lagos, Nigeria
Compliance Manager
Lagos, Nigeria
Software Tester
Cape Town, South Africa
Business Intelligence Engineer
Cape Town, South Africa
Senior Paid Media Manager
Cape Town, South Africa
Peach Payments
Frontend Web Developer (Remote)
Cape Town, South Africa
Senior Software Engineer
Cape Town, South Africa
Operations Specialist
Cape Town, South Africa
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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