Africa FinTech Spotlight
Africa Fintech Network
A platform that unites Africa fintech leaders, organizations and stakeholders.
MTN Uganda launches virtual payment card
This latest offering strengthens MTN’s commitment to driving financial inclusion and enhancing digital accessibility across Uganda, aligning with the company’s broader mission of enabling a digital economy for all.
Uganda has seen significant growth in digital financial services, with mobile money transactions reaching Shs 191 trillion in the 12 months to June 2023—a 23 percent increase from Shs 156 trillion in the same period in 2022, according to the Bank of Uganda. The Virtual Card by MoMo allows users to make card-based online payments on any e-commerce platform, website, or social media channel that accepts card payments, offering a seamless and secure experience. Whether paying for school fees, boosting social media presence, shopping online, or booking travel, MTN MoMo subscribers can now enjoy the benefits of a Mastercard-powered virtual card through their MoMo Wallet.
How is Mauritius Trying to Bolster its Economy? Fintech Overview in 2024
Famed for its white-sand beaches and as a popular tourist destination, the Republic of Mauritius is actively trying to bolster economic growth by supporting its tech and fintech ecosystems.?
Situated in the Indian Ocean, Mauritius boasts a unique advantage with many of its citizens fluent in both French and English, making it a strategic gateway between Africa and South Asia. Over the years, Mauritius has ascended to the status of an upper-middle-income country, proudly holding one of the highest gross domestic product (GDP) per capita figures on the African continent.
Africa Accelerates Efforts To Strengthen Data Privacy Protection
As Africa’s digital ecosystem expands, countries across the continent are increasing efforts to protect data privacy through legal frameworks and enforcement mechanisms. A new report by Yellow Card, Africa’s? stablecoin-based infrastructure platform, shows that as of 2025, 39 out of 55 African nations have enacted data protection laws, with 34 out of these having additionally established data protection authorities.
Countries with more developed digital ecosystems, such as Kenya, Nigeria, and South Africa, have a high demand for stronger data protection laws. In 2024, Kenya and Nigeria led in data privacy enforcement, with their respective data protection authorities making notable efforts towards ensuring compliance.
Ghana Fintech Awards: eTranzact Ghana awarded Best Fintech Company
eTranzact Ghana, a leading provider of payments technology, was awarded the title of ‘Fintech Company of the Year’ at the 4th Ghana Fintech Awards, held on March 1, 2025, at the Labadi Beach Hotel in Accra.
The Ghana Fintech Awards, organized by the Ghana FinTech and Payments Association in partnership with Arkel Limited, aim to celebrate and recognize excellence within Ghana’s rapidly growing fintech sector.
This year’s event featured 25 award categories, highlighting the industry’s continuous innovation and growth.
Select Africa taps Veefin's digital lending suite for tech transformation
Select Africa, a financial institution in South Africa, on Monday, announced a partnership with Veefin Solutions Ltd, a supply chain fintech startup that listed on the BSE’s SME platform last year, to drive its digital transformation across multiple countries in South and East Africa. This collaboration, would help Select Africa’s further focus on the unbanked segment and enable easier access to financial services, the Mumbai-headquartered firm said in a statement.
Through this partnership, Select Africa will utilise Veefin Solutions’ end-to-end stack, including onboarding, loan origination system, loan management system, reporting solution, and collections management system, to streamline its lending operations, deliver digital-first customer experiences, and foster innovation across its financial product offerings.
The Paypers releases the Global Payments and Fintech Trends Report 2025
Now in its second edition, the report examines the most relevant developments shaping financial services worldwide.
Today, the financial industry is at a crossroads of geopolitical shifts, economic volatility, and fast technological advancements. In 2024, several key events unfolded, including Donald Trump’s return to the centre of the US political stage, shifting leadership in Europe, and the evolving mandate of India’s Prime Minister. All these developments set the stage for a dynamic and unpredictable financial ecosystem. Financial institutions braced for possible trade wars and regulatory changes, while the industry as a whole experienced rapid innovation.
Risk decisioning fintech Taktile raises $54m Series B funding
Existing investors Tiger Global Management, Y Combinator, Prosus Ventures, Visionaries Club, Index Ventures, and former US Secretary of the Treasury Larry Summers also participated.
The round builds on the company’s $4.7 million seed raise in 2021 and its $20 million Series A the following year, and brings Taktile’s total funding to date to around $79 million.
Founded by former QuantCo developers Maik Taro Wehmeyer and Maximilian Eber, Taktile operates a no-code software platform which enables financial institutions to build and deploy automated decision flows and agents for onboarding, credit, fraud, and compliance.