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“There is so much potential in unlocking cryptocurrency and digital assets beyond today’s narrow and restrictive use cases,” said Szymon Sypniewicz, Ramp co-founder and CEO. Go to Source Powered by WPeMatico
A Kenya based fintech, Kwara has raised $4 million in a seed round that was led by Breega VC firm. The funds will be used to create an app that allows members of credit unions to access financial services. The Rising Demand for Financial Services by Credit Union Members Kwara, a Kenyan fintech that focuses … Read more
Some economic experts from Africa have suggested that the continent now needs a common cryptocurrency and an integrated capital market to boost trade and sustain growth. The Importance of a Common Crypto Experts on the African economy have argued that a common cryptocurrency along with an integrated capital market is needed to boost trade and … Read more
According to an analysis of the $417.5 million that was raised by Nigerian tech startups during the first nine months of 2021, fintech firms accounted for about $379 million or 90.78% of the total. Nigerian Fintechs Dominate the African Continent Nigerian fintechs currently account for more than 90% of the $417.5 million that was raised … Read more
The Ghanaian government’s proposal to introduce a 1.75% levy on digital transactions was recently rejected by a minority of lawmakers who insist the new tax derails efforts to help increase the number of adults that are financially included. The Digital Transactions Tax A minority of lawmakers in the Ghana legislature recently rejected a government proposal … Read more
The International Monetary Fund (IMF) has acknowledged that the recently launched Nigerian central bank digital currency (CBDC) is attracting interest from many institutions globally, including central banks. Still, the fund warns that the CBDC carries risks for monetary policy implementation, cyber security, operational resilience, and financial integrity and stability. CBDC Attracting Interest In its latest … Read more
Financial technology (fintech) has exploded during the last two years and cryptocurrency and blockchain firms have bolstered the billion-dollar industry. A recently published study by Utility Bidder indicates that the industry is predicted to surpass $382 billion by 2027. Moreover, fintech firms that are blockchain-specific are projected to be worth over $67.4 billion by 2027. … Read more
Nearly half a million e-naira wallets have been downloaded a few weeks after the central bank digital currency (CBDC) was officially launched by Nigerian President Muhammadu Buhari, the central bank has said. E-Naira’s Initial Trade Volumes In addition to the 488,000 wallets that have been downloaded, Osita Nwanisobi, who is the Central Bank of Nigeria … Read more
A South Africa and London-based fintech startup, JUMO, recently revealed it has raised $120 million in a funding round led by Fidelity Management & Research Company. AI-Powered Financial Services According to a report by Techcrunch, financial services giant Visa and Kingsway Capital also participated in the funding round, which now sees JUMO valued at $400 … Read more
A recent report by CR2 on Africa’s fintech transformation suggests traditional financial institutions can still be a part of the fintech financial revolution if they leverage one of their most significant assets: client trust. Partnerships Between Banks and Fintechs The report urges financial institutions that wish to accelerate their advance to success in the fintech … Read more
