Former Central Bank of Nigeria Director Joins Flutterwave Board, Chipper & Wasoko Reshape Business Models, YouVerify Raises $2.5M, and More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? Chipper & Wasoko re-strategize business models
? StanChart announces 15% profit growth in 2023
? YouVerify raises $2.5M?
? AFTS' Andrew Barden joins the board of Fintech Association of Kenya
AND MORE!
Making the news
Tony Elumelu's Heirs Holdings launches tech subsidiary?
"According to a statement, the new subsidiary will have the mandate to empower Africa’s digital transformation through innovative and locally tailored solutions. Heirs Technologies will empower businesses to thrive, through the delivery of innovative solutions, world-class expertise, and access to global providers, while enhancing local capacity and value." TechNext .?
CBK licenses 19 new digital lenders, bringing total to 51 in Kenya?
"CBK (Central Bank of Kenya) has licensed an additional 19 Digital Credit Providers (DCPs). This move comes as Kenyans grapple with a high cost of credit from banks and other lenders. In a statement, CBK said this brings the number of licensed DCPs to 51 following the licensing of 32 DCPs announced in March 2023. CBK has received 480 applications since March 2022." The Kenyan Wall Street .?
Chipper Cash suspends US operations and?cuts US and UK-based roles?
"One week after suspending its services in America, Chipper Cash will eliminate roles based in the UK and US to its other African business regions, according to a company blog post published on Friday. Twenty people were laid off as a result of that decision, the same post said." TechCabal .?
Wasoko exits Zanzibar amidst pause on Uganda and Zambia operations?
"Wasoko, the Kenyan e-commerce start-up, shut down its Zanzibar office and paused operations in Uganda and Zambia weeks before it finalises a merger with MaxAB." TechCabal .?
Banking & Telecom Activity
Startup Activity ?
Ethiopia - EV startup Dodai raises $4M Series A, marking one of the largest funding rounds in the country
Morocco - Fintech startup ORA Technologies raises $1.5M ?to activate its e-wallet product?
Nigeria - ID verification startup YouVerify raises $2.5M pre-Series A from Saudi Arabian company Elm ?
South Africa - Car subscription platform Planet42 raises $16M in equity and debt to repay Euro-denominated loans
Featured Read
领英推荐
How the spat between Africa's top economy & world's No.1 crypto firm escalated - WeeTracker?
"The saga began with Nigeria’s pursuit of information from Binance, including details on its top users and transaction history. This move, aimed at curbing alleged illicit financial flows, devolved into the detention of two Binance executives, now?identified by WIRED?as Tigran Gambaryan, a US citizen and Nadeem Anjarwalla, a dual citizen of the UK and Kenya. Both officials had flown into Nigeria for negotiations after a government order?blocked access to Binance?and other crypto sites in Nigeria." Continue reading .?
Partners in the news
Former CBN director and expert investor join Flutterwave board?
"Flutterwave, Africa’s most valuable startup, has appointed?Dipo Fatokun , a former director at the Central Bank of Nigeria (CBN), as its new board chairman, as part of its effort to uphold higher regulatory, compliance, and governance standards...The fintech has also appointed Tosin Faniro-Dada, a partner at Breega, an early-stage VC fund in Europe and Africa, as an independent non-executive director...Two weeks ago, Flutterwave also added a new board member,?Nigerian architect Olajumoke Adenowo , as part of its efforts to drive its international expansion strategy." TechCabal .?
AFTS in the headlines
AFTS' Andrew Barden joins Board of Directors for Fintech Association of Kenya?
"Andrew Barden’s extensive experience in media, corporate events, and deep understanding of the fintech landscape make him an exceptional addition to the board. As a board member, Andrew will lead FINTAK’s Investment and Funding Committee." Learn more .?
AFTS launches first roadshow event ahead of this year's summit in Nairobi?
"Africa’s financial technology leaders are gathering in Washington DC, US, on the sidelines of the IMF/World Bank Spring Meetings on April 17, 2024. The Africa Fintech Summit , Africa’s most influential bi-annual confluence of regulators, policymakers, founders, investors, and entrepreneurs from across the globe, is excited to be back in the US Capital, Washington DC, hosting 2024’s first event at the historic Halcyon House in Georgetown."?Learn more .?