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As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of the 308 tracked tech startups, a Disrupt Africa study recently found. In addition, the study findings show that the fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 people that were employed by tech startups
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The Uganda-based digital lending fintech startup, Numida, has said it will start offering its services to micro, small, and medium-sized enterprises in other African countries. Numida’s plans to offer its services to businesses beyond Uganda’s borders came shortly after it was announced that the startup had raised a total of
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“Within the next decade, debt capital markets will be on-chain and democratized," wrote Credix founder and CEO Thomas Bohner in a Medium post. Credix is building the infrastructure to enable this at scale — we’re developing a next-generation credit platform matching institutional investors and FinTech lenders." Source
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In this week’s Africa news highlights, the Nigerian central bank blames speculators for causing the local currency’s plunge to a new all-time low on the parallel market. In Kenya, the central bank has told financial institutions to cease having dealings with two Nigerian fintechs, Flutterwave and Chipper Cash. The Central
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The Nigerian central bank governor and bitcoin critic, Godwin Emefiele, recently remarked that the rise of fintechs and cryptocurrencies among other technologies have forced banks and financial institutions to change the way they operate. According to Emefiele, this requires the central bank’s monetary policy committee (MPC) to rethink the way
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The African fintech industry has grown rapidly over the past few years and this has caught the attention of some well-resourced venture capital (VC) firms. As one would expect, Nigerian fintech startups have dominated the continent in terms of funds raised or the number of transactions performed. Nigeria’s Burgeoning Fintech Scene This
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While it’s still early innings for crypto, management teams at leading fintech companies regard stablecoins and possibly central bank digital currencies (CBDCs) as more “elegant” than bitcoin (BTC) with respect to payments, according to a research report from financial services firm Cowen (COWN). Source
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“All of Bitpanda’s White Label partners, including customers of Fabrick users, can still interact with the front end that they are familiar with, this encompasses the entire user experience, from researching an asset via Bitpanda’s tools, to investing in it, as well as portfolio monitoring and future asset trading,” the
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“Think of it as the foundation of an enterprise mainnet.” That’s how Christine Moy, head of JPMorgan’s newly rebranded Liink banking network, described its aspirations towards decentralization in the realm of big business.The revamped Liink, which is based on a fork of Ethereum, is more of a “decentralized network,” said Moy,
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Main Street businesses hit by the COVID-19 crisis now have access to a lifeline from fintech lenders.On April 9, the United States Small Business Administration (SBA) released its application form for nonbanks to sign on as lenders under the federal Paycheck Protection Program (PPP).Speaking to Cointelegraph on April 10,
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