South Africa's TymeBank Announces Indonesia Expansion, Nigerian Fintech Waza Raises $8M, AFTS Welcomes Interswitch & M-PESA as Gold Sponsors & More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? TymeBank announces Indonesia expansion
? Kenyan ride-hailing apps begin hiking rates
? Ghana's FIDO raises Series B funding
? Waza bags $8M in hybrid round
AND MORE!
Making the news
TymeBank announces expansion into Indonesia
"TymeBank, the South African digital bank with R4 billion ($222 million) in customer deposits, will launch in Indonesia by the end of 2024. It is the bank’s third Southeast Asian market, after launching in the Philippines in October 2022 and Vietnam in January 2024... In Indonesia, the company will not immediately pursue a banking license but will offer its lending product, Merchant Cash Advance, to Small and Medium Enterprises (SMEs)." TechCabal.?
Kenyan ride-hailing apps are increasing rates - Uber & Little Cab
"Ride-hailing platform, Little, will increase rates for all its fleet categories by 15% to enable its drivers to earn more amidst economic challenges." The Kenyan Wall Street. "Ride-hailing app, Uber, announced that it will increase fare prices for all its ride categories including the minimum price and the per-kilometer rates to give drivers an opportunity of earning more." The Kenyan Wall Street.?
Banking & Telecom Activity
Startup Activity
Ghana - Digital lending startup FIDO raises Series B funding round to help it expand its loan book in Ghana and Uganda
Kenya - HRtech startup WorkPay raises $5M Series A funding round after raising $2.7M in a 2023 Seed round
Kenya - Electric bus startup BasiGo raises $10.15M from the US's DFC to increase production to 1,000 buses per year in the next 3 years
Nigeria - Fintech startup Waza raises $8M hybrid round to support its expansion into new markets and develop a trade finance solution
Featured Read ?
Fintech Is Giving Africa’s Top Telco A Lifeline Amid Setbacks - WeeTracker
"MTN Group, Africa’s largest mobile operator, has unveiled a tale of two halves in its latest financial results. While the traditional telecommunications business grapples with the twin challenges of a plummeting Nigerian Naira and dwindling voice revenues, the fintech arm has emerged as a beacon of hope, propelling the company forward." Continue reading.
2024 Startup Funding to Date - WeeTracker
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AFTS community in the news
Flutterwave now accepts American Express in Nigeria?
"We are excited to announce that Flutterwave merchants in Nigeria can now accept payments from American Express Cards. This new payment option enables American Express Card Members around the globe to have access to a wide range of Nigerian businesses and easily pay them with their cards. Flutterwave merchants will also benefit from being connected to the global American Express Card Member base." Find out more.?
Zone partners with NIBSS to use blockchain to track POS transactions?
"Zone, a Nigerian blockchain-enabled payments infrastructure, has partnered with the Nigerian Inter-Bank Settlement Scheme (NIBSS) to introduce blockchain technology to Point-of-sale (POS) terminal payments...?The partnership will allow participating financial institutions to view the blockchain ledger that contains all recorded transactions." Continue reading.
Yellow Card partners with Fireblocks to enhance cross-border transactions?
"This partnership aims to enhance cross-border transactions for businesses and individuals across the continent. By leveraging Fireblocks’ advanced technology, Yellow Card seeks to overcome significant barriers faced by global corporate treasuries when accessing African markets, offering secure and efficient on-chain solutions." Learn more.?
10 Days left to AFTSNairobi 2024
Join us at Africa's most exclusive fintech event of the year! AFTSNairobi is collaborating with Africa's biggest names in the industry including M-PESA, Ecobank, Onafriq, Flutterwave, Paystack, Bank of America and many others!?
See the complete speaker list at africafintechsummit.com
Africa Fintech Summit Nairobi 2024 Welcomes M-PESA as Gold Sponsor
"The partnership comes at a time when, 17 years after its initial launch in 2017, M-PESA now controls about 96.5% of the Kenyan mobile money market, serving 60+ million customers in seven African countries while processing 150 million daily transactions valued at $1 billion, and facilitating $4 billion in annual cross-border transactions, among other impressive milestones." Learn more.?
Africa Fintech Summit Nairobi 2024 Welcomes Interswitch Group as Gold Sponsor
"The partnership comes at a time of significant expansion of Interswitch’s operational footprints across the continent on the back of notable milestones such as the recent consolidation of its strategic partnership with ACI Worldwide to drive the modernization of real-time payments across 32 Markets in Sub-Saharan Africa, as well as its foray into other industry verticals including Healthcare, Energy & Transportation, among others." Learn more.?
Traveling to Kenya for AFTSNairobi!?