JP Morgan Opens Regional Office in Nairobi, VC Firm Startup Wise Guys Raises $26.7M, SA Car Subscription Startup Planet42 Raises $100M, and more
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? JP Morgan is opening regional office in Nairobi
? KCB backtracks full acquisition plans for Congolese bank
? Kenya's Workpay raises $2.7M USD
? Startup Wise Guys closes $26.7M for scaling Africa operations
AND MORE!
Making the news
US' largest bank - JP Morgan - opens regional office in Nairobi?
"JP Morgan’s decision to set up a regional office in Nairobi comes after the bank’s?CEO, Jamie Dimon, announced in 2018?that the bank had hired a special team of bankers to help coordinate and expand the bank’s relationships in Kenya and Ghana... Dimon had expressed the bank’s interest in expanding its services and targeting large multinationals who are not well-served by local investment banking firms due to a lack of expertise to handle large transactions."?Continue reading.?
KCB backtracks plans for complete acquisition of Congolese bank?
"KCB Group?has reversed its earlier plan to acquire 100% stake in DRC Congo’s Trust Merchant Bank (TMB), citing the need to ride on the expertise of founding shareholders. Currently, KCB owns 85 per cent stake in TMB and had planned to let the existing shareholders continue holding the balance for at least two years and then move to buy them out fully."?Continue reading.?
Startup & Funding Activity
Kenya -?HR & Payroll startup,?Workpay, raises $2.7M USD?pre-Series A with plans to expand its services in 40 countries?
South Africa?- Car subscription startup,?Planet42, raises $100M USD?with plans for rapid global expansion?
Investor Activity
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Featured Articles
领英推荐
A guide to enhancing corporate governance in early-stage startups in Africa - Richard Nunekpeku in B&FT
"And news of financial impropriety and related misconduct at the highest level of these companies portray the seeming lack of and/or failure of accountability, systems, and procedures that promote best practices in business management. More importantly, [this has]?wider negative implications for the funding and management of other start-ups in Africa and it is imperative such concerns are addressed with pragmatic initiatives that promote good corporate governance in early-stage start-ups."?Continue reading.?
AFTS partners in the news
Payhippo's (AlphaExpo '20) Head of People Operations, Nkem Ike, featured in Financial Insight interview
"Nkem was part of the panel that discussed issues on Tech talent empowerment in the industry. She expressed excitement and elation in sharing her insights with other industry professionals who look into and manage human capital issues."?Continue reading.?
AFTS in the headlines
New Podcast Episode
Featuring David Waithaka, Cellulant's Chief Revenue Officer, this week's episode covers how the company has evolved over the years and gives us a behind the scenes snapshot of what Cellulant has planned for this year. Listen now!?
Vote in the Final?Excellence in Fintech Awards?Poll
At each April edition of the Africa Fintech Summit, we recognize leading stakeholders in the African fintech industry with an awards ceremony during AFTSDC. Submit your nominations for the awards?HERE.?
Registration is Open!!! 9th Africa Fintech Summit comes to Washington, DC on April 12, 2023
This April's edition of the Africa Fintech Summit will take place alongside the Spring Meetings of the World Bank/IFC from April 10-16, 2023 in Washington, DC. AFTSDC2023 will be hosted on April 12, 2023 and will feature 80+ speakers, 12 panel sessions, several workshops, VIP Dinner, New Venture Competition, Networking Happy Hour, and MUCH MORE! Register today to save with Early-Bird Prices.?
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2 年Harold Fearon