AFTS to Engage Ghana's Fintech Stakeholders in Accra, Tanzania Fintech Nala Named Among Forbes' Top 50 Fintechs, Fintechs Rush into Ethiopia, and More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
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Making the News!
Ghana - AFTS Heading to Accra
Africa Fintech Summit's leadership team will be in Accra, Ghana, during the week of March 25 - March 02, conducting several local stakeholder engagement meetings and attending?the Ghana Fintech Awards?on 01 March in Accra. Stay tuned for a major announcement AFTS will be making during the Ghana Fintech Awards reception at Labadi Beach Hotel.?
Ethiopia - Fintechs Rush into Ethiopia Ahead of Banks
Ethiopia’s opening of the financial services space to foreign players?is attracting major fintech players before banks. Flutterwave, PawaPay & Zuri Health?are gearing up to enter Ethiopia this year through strategic acquisitions and/or organic growth with a license to operate in the country.??Read details from the Africa report.?
Africa - Powering Local Currencies for Global Trade
Alibaba’s cross-border e-commerce platform?AliExpress?will?begin supporting local currencies?in Ethiopia, South Africa, Tanzania, Morocco, Algeria, and Egypt on February 24, 2025. Ahead of this upcoming move, the platform has been forging close partnerships with African telecom and payment operators to offer customized e-commerce solutions tailored to the region's needs.
Africa?-? Unlocking Africa's Digital Economy via AfCFTA
At the African Union Summit in Ethiopia during the week, Heads of State and Government adopted 8 annexes to the AfCFTA protocol on digital trade. The annexes cover vital components of the public digital infrastructure ecosystem, with key provisions on cross-border data transfer, digital identity, cross-border payments and fintech, marking a huge step for financial inclusion and digital trade in Africa!
Visualization of the Week
GSMA's Cross-Border Mobile Money Remittance Cost Survey - Key Trends and Insights report providing insights into regional cross-border money transfer trends & comparative costs. The snapshot of the report on Mobile money transfer cost comparison in 2020-2024 is the visualization for this week!?
Featured Read
The leadership of Flutterwave had a meeting with H.E. President Tinubu?of Nigeria, who has pledged support for fintech firms as Flutterwave seeks listing on the Nigerian Exchange.?The Minister of Finance and Coordinating Minister of the Economy, the Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and the Director General/ Chief Executive Officer of the National Information Technology Development Agency (NITDA) also attended the meeting. Read further HERE.??
M&A Activities??
Malawi?- InfraCo to Sell Stake in Golomoti Solar to Old Mutual
InfraCo Africa has announced plans to sell its stake in Malawi’s Golomoti Solar project to Old Mutual Infrastructure Investment Trust Fund, highlighting growing investor interest in Africa’s renewable energy sector.
Startup Activity
USA?- An AI Investment boom:?Mercor, an AI recruiting startup founded by 21-year-olds, raises $100M at a $2B valuation, Techcrunch reported.?
Tanzania - Forbes'?Top Global 50 Fintech:?Forbes' top global 50 Fintech report for 2025 has the African cross-border money transform platform?NALA?among the top 50 global Fintech firms.?
Dubai?-?Stablecoin Funding:? Tether backs stablecoin liquidity provider Mansa in $10M seed round.?The funds will support the company’s expansion into Latin America and Southeast Asia, regions where liquidity challenges also limit cross-border transactions.
Resources for Founders & Startups
Washington DC?-?Africa Fintech Summit's 8th New Venture Pitch Competition for early-stage startups is open until 28 February 2025. 10 early-stage startups will be selected and pitch to pre-selected investors and a panel of judges on 24th April 2025. Register HERE.
AFTS Community Activity
Kenya?- AFTS partner MDP has signed a Memorandum of Understanding with Wakandi Group?to help Savings and Credit Cooperative Societies (SACCOs) streamline their operations, accelerate service delivery and improve financial accessibility across Africa.
Nigeria:?Leading African payments technology company & AFTS' long-time partner? Flutterwave has upgraded its money transfer product Send App.
Nigerian users can now swap the naira for foreign currency (USD, EUR, and GBP) and send money globally all within one app.?This upgrade is powered by Swap, another one of Flutterwave’s products, in partnership with Kadavra BDC and Wema Bank Plc. It will make it easier for users to pay for services, send money to family abroad, and conduct international transactions.?Learn more?HERE.
2025?Startup Funding to Date - WeeTracker
Amplify your brand, services and products at the 13th AFTSDC2025 taking place in Washington DC on 24 April 2025
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Video of the Week!
Relive the excitement of the AFTS Nairobi 2024?that took place in Kenya in September 2024!?
Flashback from #AFTSNAIROBI24
Selected Pictures of AFTSNairobi24 that took place at the JW Marriott Hotel in Nairobi, Kenya on Sept 4-5, 2024!