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Lengthy Licensing Stumps Kenyan Fintech Startups

[Sep 12 10:10 PM] Fintech startups face significant challenges when expanding to Kenya, primarily due to the lengthy and complex process of obtaining an operating license. Obtaining a payment service provider (PSP) license can take up to two years, forcing startups…

Kenyan Central Bank to Issue Licenses to Fintech Firms

[Jun 13 11:38 PM] The Central Bank of Kenya is amending the country’s payment systems law, which will allow it to issue operating licenses to fintech startups. Governor Kamau Thugge said he expects the bank to complete the process of amending the law soon. Central…

South African Fintech Startup Leseka Tech Signs Deal to Buy Payments Provider for $86M

[May 11 7:44 PM] Lesaka Technologies, a fintech startup based in South Africa, recently signed a deal to acquire Adumo, a payment solutions provider, for nearly $86 million. Under the terms of the agreement, Lesaka Technologies will pay Adumo $12.5 million in cash…

South African Fintech Startup Ukheshe Acquires 100% Stake in EFT Corporation

[Jan 21 5:00 AM] South African fintech startup Ukheshe recently announced that it has acquired a 100% stake in EFT Corporation, an Africa-focused payment services provider. According to the startup, the acquisition takes Ukheshe closer to its stated goal of…

Crypto Payment Provider Alchemy Pay Secures Iowa Money Services License

[Nov 28, 2023 5:30 AM] The Singapore-based payment gateway Alchemy Pay has been granted the money services license by the U.S. state of Iowa. Both this license and the money transmitter license obtained from Arkansas nearly two months earlier underline Alchemy’s…

Twitter Gains Money Transmitter Licenses in Three States, Takes Steps Towards Becoming an All-in-One ‘Everything App’

[Jul 6, 2023 8:00 AM] Twitter made an announcement on July 5, revealing that it has been granted money transmitter licenses by three states: Missouri, Michigan, and New Hampshire. These licenses are a part of Twitter’s endeavor to secure money transmitter licenses…

Binance Australia Users Selling Bitcoin at Discount Ahead of AUD Withdrawals Halt

[May 30, 2023 11:30 AM] Customers of Binance Australia were trading bitcoin and other cryptocurrencies at lower prices than those on other platforms on Tuesday. The discount is apparently due to a popular Australian payment service preparing to cut off the crypto exchange…

Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round

[May 7, 2023 4:30 PM] The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer…