Africa Fintech Spotlight
Africa Fintech Network
A platform that unites Africa fintech leaders, organizations and stakeholders.
Kenyan Fintech joins UN global compact
Mobile lending firm Tala has become the first Kenyan financial technology company to join the UN Global Compact, a global initiative promoting ethical business practices.
Tala says it is committed to aligning its operations with the Compact’s ten principles, covering human rights, labour standards, environmental responsibility, and anti-corruption.
The UN Global Compact, launched in 2000, encourages businesses worldwide to adopt sustainable and socially responsible policies.
Read more: https://www.standardmedia.co.ke/business/business/article/2001510692/kenyan-fintech-joins-un-global-compact?
The Rise of Fintechs In Nigeria And What It Means For You!
On Everyday Money Matters, we explore Nigeria’s booming fintech sector and its impact on your financial life. Fintech is reshaping how people save, invest, and make payments. With mobile banking, digital lending, and seamless payment solutions, fintechs are challenging traditional banks and expanding financial inclusion. Driven by smartphone adoption, internet penetration, and cashless policies, the sector is booming.
This means faster transactions, access to credit, and investment opportunities for individuals. However, risks like fraud and regulatory changes require caution.
Read more: https://nairametrics.com/2025/01/30/the-rise-of-fintechs-in-nigeria-and-what-it-means-for-you/?
WATCH | Innovate Africa: Truzo, the fintech bringing trust back to African business
Trust is one of the biggest barriers to doing business in Africa. Whether it’s delayed payments, scams or non-delivery of services, the lack of trust slows down deals and discourages local and international trade.
Truzo, a fintech company, solves this problem by acting as a secure digital escrow service, holding funds until all agreed deliverables are met. This ensures that buyers and sellers can transact with confidence, knowing their money is protected.
Social media platform X selects Visa to power payments for X Money
Announcing the partnership via a post on the platform, X CEO Linda Yaccarino shared that the company had opted for the Visa Direct solution.
The real-time payments platform will be used to power instant fund transfer and peer-to-peer (P2P) payment capabilities for US-based users of the X Money Account.
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Corroborating the CEO’s statement in a separate post, Visa says its platform will “make it possible for US X Money Account users to fund and transfer money in real-time with their debit card”.
Read more: https://www.fintechfutures.com/2025/01/social-media-platform-x-selects-visa-to-power-payments-for-x-money/?
Lendo secures $690 million facility from J.P. Morgan
Lendo, the leading debt crowdfunding platform in Saudi Arabia, has secured a USD 690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan. Supported by Fintech Saudi, this milestone underscores the growth in Saudi Arabia's fintech sector and the vast opportunity in SME financing in the economy.
The facility is expected to contribute to an increase in job creation in the Kingdom, demonstrating Lendo's commitment to domestic economic growth and employment.
“This landmark facility represents a transformative moment for Lendo and the Saudi fintech ecosystem," said Osama Alraee, CEO and co-founder of Lendo. "The strong backing from global financial institutions such as J.P. Morgan validates our innovative approach to SME financing and positions us to expand our impact in the Saudi market significantly. This facility will accelerate our mission of boosting SMEs growth while contributing to the Kingdom's Vision 2030 goals.”
Fintech Galaxy receives Central Bank approval to test open banking in Jordan
Fintech Galaxy has received the Central Bank of Jordan’s (CBJ) approval to enter the regulatory sandbox, JoRegBox, to test and deploy Open Banking services in the Kingdom within a controlled real-market framework. This decision marks a significant milestone for Fintech Galaxy as it becomes the first Open Banking company to receive regulatory approval in Jordan.
This initiative is part of CBJ's broader vision for financial technology and innovation, launched in August 2023 under the Executive Program for the Economic Modernization Vision (2023–2025). The program aims to position Jordan as a regional hub for financial innovation and a destination for investment in advanced financial technologies. JoRegBox provides a structured environment where fintech companies can test innovative solutions under the supervision of CBJ, promoting financial inclusion and advancing consumer-focused financial services.
Mastercard Sees Growth in Tokenization and Commercial Payments
Mastercard’s fourth-quarter earnings results showed that consumers still rely on their cards for everyday spending — and beyond the resilient consumer, tens of trillions of dollars in commercial payments beckon.
A presentation released Thursday (Jan. 30) in tandem with the earnings report indicated that worldwide gross dollar volumes were up 12% year on year to $2.6 trillion.
Drilling down into specific markets, the United States GDV was up 9% to $793 billion. Within that figure, spending on debit cards surged by 10.7%, outpacing, at least for the quarter, the 7.8% gain in credit card spending.