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Mastercard, Safaricom Partner on Cross-Border Payments

[Sep 20 4:30 AM] Mastercard and Safaricom have partnered to improve payment acceptance and cross-border remittances in Kenya. The partnership will benefit over 636,000 merchants using M-Pesa and enable them to serve customers globally. This collaboration will…

Tanzania Fintech Startup Nala Secures $40 Million via Series A Round 

[Jul 10 11:30 PM] Tanzanian fintech startup Nala recently secured $40 million in a Series A funding round led by San Francisco-based venture capital firm Acrew Capital. The funds will be used to bolster Nala’s business-to-business (B2B) payment platform and…

Nigerian Blockchain-Based Payment Startup, Ivorypay, Partners With Stablecoin Issuer, Tether

[Apr 21 2:38 AM] A Nigerian startup specializing in blockchain-based payments and remittances has entered into a partnership arrangement with the stablecoin issuer Tether. The arrangement is expected to extend the benefits of stable digital transactions to a larger…

Nigerian Crypto Firm Bitmama to Pay $1 Million for Startup That Raised $3 Million in February

[Dec 8, 2023 5:30 AM] The Nigerian crypto platform Bitmama is reportedly set to acquire the African remittances startup Payday for $1 million. Reports of Payday’s acquisition come almost a year after the startup raised $3 million in a funding round…

Ghana’s Central Bank Names Eight Money Transfer Companies Operating Without Its Approval

[Nov 23, 2023 1:00 AM] The Bank of Ghana recently pointed the finger at eight money transfer organizations which are allegedly operating in Ghana’s remittances and forex market without its approval. The central bank also warned the public and regulated financial…

Africa-Focused Remittances Fintech Zazuu Shut Downs After Failing to Secure Additional Funding

[Nov 21, 2023 2:30 PM] An Africa-focused remittances firm, Zazuu, has become the latest fintech startup to close shop after it failed to raise extra funding. Zazuu and other African fintechs’ funding problems are said to be linked to the collapse of Silicon Valley…

Zimbabwean Blockchain Startups Launch Service to Help Migrants Efficiently Move Funds Across Borders

[Mar 1, 2023 3:30 AM] Two Zimbabwean startups, Flexid and Uhuru Wallet, recently launched a platform that offers digital identity and remittance services to migrants living and working in South Africa. The two startups hailed what they’ve described as the…