Fintech

How DeFi can facilitate better access to financial services in Africa

DeFi has huge potential to facilitate access and inclusion to financial services such as lending, investing, settlements, online transactions, payments and so much more, provided the infrastructure gap is closed. How can defis elevate financial services in Africa?

After doing N1.4 trillion in Agency banking transactions in May, TeamApt wants to "do more" for its users.

In May, the value increased to ₦1.4 trillion ($3.5 bn) with 68 million transactions in volume, and between April 2020 and April 2021, the total value of transactions processed has gone up to $16 billion.

New CBN regulations require fintechs to pay $5million into escrow account

Yesterday, the CBN introduced yet another set of sweeping new regulations for Fintech license holders. The most prominent change is a new Escrow account created for Fintechs to deposit certain stipulated sums of money.

How Open Banking will shape fintech in Africa

Open banking could usher in a new era of financial inclusion where banks and African Fintechs can seamlessly exchange customer data. This will facilitate the provision of broader financial products and services for Africans.

Using USSD-technology, Stax wants to increase financial inclusivity for Africans

It is estimated that 94% of transactions in Africa are performed via USSD. Stax is building on USSD to power financial transactions across Africa.

Okra raises $3.5 million to scale its Open Finance operations

This comes just under a year after Okra closed its $1m pre-Seed round with only TLcom Capital participating in the round. It brings Okra’s total funding at seed to $4.5m.

Lemonade Finance, a fintech startup easing cross-border transactions for Africans

Cross-border payments are a source of pain for Africans. Lemonade wants to solve the usage restrictions, long transaction completion time and high fees.