Fintech
Business

Sub Saharan Africa becomes new home for MoneyHash Payments.

Large organisations that operate in Africa often have issues with payment collection due to the varying currencies on the continent, differing government policies and fragment payment systems. To remedy this, these organisations have to hire an in-house team to build custom payment solutions.  Providing an alternative for large companies is  MoneyHash, an Egyptian US-based fintech company […]

Read More
Business Finance

Verve to launch the OPay Instant Debit Card.

In line with simplifying financial transactions and deepening financial inclusion across the country, Nigeria’s leading financial service platform OPay has partnered with Africa’s leading payment cards and digital tokens brand; Verve to launch the OPay Instant Debit Card. With over 500,000 agents pan-Nigeria, OPay will leverage its agent network for the issuance and distribution of […]

Read More
Business Finance

Kuda in trouble? Nigerian Neobank incurs over N6 Billion loss in 2021

The last two years have seen losses for Kuda MFB, a neobank with a Nigerian microfinance bank license. According to the company’s financial report, reviewed by Business Verge, it lost $6,092,554,866 ($14,214,681) by the conclusion of the 2021 fiscal year, an increase of 602% over the $2,025,295 loss it suffered in 2020. The company’s sales […]

Read More
Africapitalism Economy

A new dawn in Kenya, Money lenders have three days to comply with directives.

Kenya is going all out to regulate its digital economy, and enforcement is not taking a backseat there. Last year, the east-African country laid out regulatory blueprints for both the payments and digital lending industries. At first, it seemed like business as usual: African regulators saying how things should be but never following through on ensuring them. […]

Read More
Business Finance

Google provides $4 million in equity-free funding to 60 African companies.

At the Transcorp Hilton Hotel in Abuja, Google announced that 60 African startups have been selected for the second cohort of its Google for Startups Black Founders Fund.  Each of the selected startups will receive support in the form of a 6-month training programme that includes tailored workshops, community-building sessions and access to a network […]

Read More
Startups Technology Venture Capital

Nigerian fintech startup, Grey, raises $2 million in seed funding

Grey, a Nigerian fintech startup, has raised $2 million in seed funding to expand into new African markets. According to the one-year-old company, the funding will also allow it to expand its product suite to include remittances and person-to-person and business-to-business payments, allowing every African to enjoy seamless cross-border payments with low fees. Y Combinator, […]

Read More
Business News Technology

Moneymie has shut down its digital bank for immigrants to focus on B2B services

Moneymie suspended its digital bank service, which allowed African immigrants in North America to send and receive money from Nigeria, Ghana, and South Africa, on August 9, 2022. Although Moneymie is discontinuing its B2C services, the fintech company announced that it will focus on cross-border payments and payouts for business users through its B2B platform […]

Read More
Business Business News Economy

Binance will use its innovative crypto hub to support crypto education in Cameroon.

With up to 23 African governments banning cryptocurrency, the future of crypto in Africa has been a rising concern. Despite this, Binance, the world’s largest crypto exchange platform by volume, is pushing for increased cryptocurrency adoption on the continent. To this end, the cryptocurrency infrastructure provider has launched a crypto education hub in Yaounde, Cameroon, via a […]

Read More
Business News Technology

Palmpay launches new security campaign

PalmPay, a Nigerian fintech startup, has launched a new payment security campaign to increase customer payment and cyber security awareness. PalmPay’s managing director, Chika Nwosu, confirmed the new development in a media release obtained by Ripples Nigeria on Monday. The fintech is a digital payment platform that aims to increase financial inclusion and improve customer […]

Read More
Business Business News Economy Finance Marketing Analytics

N10billion loss hits Nigerian exchange

Trading activities on the floor of the Nigerian Exchange Limited (NGX) closed on a negative note Wednesday, August 17 to upturn the previous day’s gain following losses recorded by blue chip firms.  However, the stock market recorded 10 gainers including Prestige Assurance Plc against 16 losers led by Courtiville Business Solutions Plc to close the […]

Read More
X