Flutterwave Secures 13 Licenses in the US, NIBSS Announcement Causes Chaos in Nigeria's Fintech Space, Bujeti Raises $2M, and More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? NIBSS announcement causes chaos in Nigerian fintech scene
? Flutterwave receives 13 licenses in the US
? Kenya's Lipa Later acquires eCommerce company, Sky.Garden
? Bujeti raises $2M USD for scaling of its corporate cards platform
AND MORE!
Making the news
Chaos among Nigerian fintech community?after Nigeria Inter-Bank Settlement System (NIBSS) memo?
"Nigerian financial services companies are racing to reassure users after a memo from the Nigeria Inter-Bank Settlement System (NIBSS) asked banks and mobile money operators to?delist unlicenced fintechs?from directly accepting consumer deposits. The memo affects companies that own superagents, payment solution service providers (PSSPs) or switching licenses. By regulation, financial services with only these licenses cannot directly accept consumer deposits, particularly through bank transfers. According to the Central Bank of Nigeria, over 100 entities currently hold these licenses in Nigeria." TechCabal.?
Banking & Telecom Activity
Startup Activity
Kenya - Digital commerce SaaS startup, tappi, raises $1.5M pre-seed funding round to accelerate growth in Kenya and Nigeria?
Kenya - Insurtech startup Lami's acquisition of Bluewave?collapses after a supposed failure to agree on acquisition terms?
Kenya - eBus startup, BasiGo, raises $5M debt facility from BII to scale the company's local production and deliver 100 buses?
Kenya - Fintech startup, Lipa Later, acquires eCommerce brand, Sky.Garden, with plans to revamp and rebrand the platform
Nigeria - Fintech startup, Bujeti, raises $2M to grow its corporate cards and spend management platform?
South Africa - Sports data company, Sportable, raises $15M Series A as the company looks to expand its partnership with international tournaments?
Tunisia - Team collaboration startup, Cynoia, raises ~$930K for expansion into West Africa with plans to start in Senegal and Ivory Coast?
Investor Activity
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AFTS partners in the news
Flutterwave receives Money Transmitter Licenses (MTL) in 13 US States?
"Money transfer licenses are issued by state regulators to allow financial technology companies to engage in the transmission of money.?These licenses enable Flutterwave’s solutions like Send App, which facilitates money transfer between the U.S. and Africa, and enterprises that use Flutterwave for last-mile payout globally." Continue reading.?
AFTS in the headlines
Highlights, Big Ideas, Impact, and More From the Africa Fintech Summit Lusaka 2023
"With such a diverse lineup of ecosystem-building engagements, it was no surprise that attendees generally thought the summit delivered on its promises and were quick to share their experiences alongside photos and videos from the event." Continue reading on TechCabal.?
11th Africa Fintech Summit set to be hosted in Nairobi, Kenya in Q4 2024
The AFTS Organizational Team is fast at work planning Africa's largest financial technology event of the year, set to take place over the course of 3-days at Nairobi's new JW Marriott. Reach out to the AFTS team at [email protected] to enquire about sponsorship & partnership opportunities.?