Latest News & Updates
Flutterwave Partners With Africa FinTech Summit
21st March 2023
Flutterwave has been named as the Lead FinTech Sponsor for the 2023 Africa FinTech Summit, which will take place on April 12, 2023, in Washington, D.C. Additionally, the summit will be held in an African city that will be disclosed in November 2023. Flutterwave’s sponsorship is timely as it has recently obtained licenses in … Continue reading Flutterwave Partners With Africa FinTech Summit
Creating Collaborative Ecosystems for Fintech Startups
14th March 2023
Fintech startups have been revolutionizing the financial industry in recent years. They have been leveraging technology to create innovative products and services that meet the needs of customers in a more efficient and convenient way than traditional financial institutions. However, despite the potential of fintech startups to disrupt the industry, they often face challenges … Continue reading Creating Collaborative Ecosystems for Fintech Startups
A Summary of the CBN’s New Operational Guidelines for Open Banking
13th March 2023
On Tuesday, March 7, the Central Bank of Nigeria released operational guidelines for Open Banking in Nigeria. The new rules were written up to enable banks and third-party firms to share customer data with each other, subject to customers’ consent. Musa Jimoh, Director of the Payments System Department at the apex bank, explained this … Continue reading A Summary of the CBN’s New Operational Guidelines for Open Banking
Flutterwave Dispels Hacking Rumour
8th March 2023
Multiple media outlets reported on Sunday that Flutterwave, a Nigerian fintech company, was allegedly robbed of more than ₦2.9 billion ($6.3 million) by hackers. The first report of the incident stated that ₦2,949,557,867, had been illegally transferred from Flutterwave’s account. Despite these claims, Yewande Akomolafe-Kalu, Head of Branding and Storytelling at Flutterwave, stated that … Continue reading Flutterwave Dispels Hacking Rumour
6 Nigerian Apps for Cross-Border Payments
4th March 2023
There’s no shortage of inexpensive digital platforms supporting local transactions. But when it comes to cross-border payments, Nigerians have to part with significant fees just to send and receive money. Most of the better-known options for international transfers charge a good chunk of their users’ funds. Others offer services so limited, utilizing them can … Continue reading 6 Nigerian Apps for Cross-Border Payments
Blockfinex Set to Benefit from Fluidcoins’ Acquisition
21st February 2023
After failing to secure additional funding, the Nigerian crypto payment gateway Fluidcoins has sold all its shares to Blockfinex, a Nigerian-led company based in the UAE, in an undisclosed ‘acqui-hiring’ deal. The founding team of Fluidcoins will continue to work on the product, and there will be no changes in management or staff. Read … Continue reading Blockfinex Set to Benefit from Fluidcoins’ Acquisition
How FinTech Can Help to Improve Your Personal Finances
20th February 2023
FinTech has dominated business news headlines for a number of reasons. It’s changing our relationship with money; it makes banking more convenient than it has ever been; the revenues that startups in the space generate are huge; and investors have poured hundreds of millions of dollars into ventures across the ecosystem. Read more about … Continue reading How FinTech Can Help to Improve Your Personal Finances
Flutterwave Expands into North Africa
10th February 2023
In March 2021, Flutterwave announced its $170 million Series C funding and revealed plans to expand its payment network to Egypt, Morocco, and Tunisia by the first quarter of 2021. It’s uncertain if these plans have already been implemented, but the African FinTech firm has recently hired Omar Marwan, a former business development manager … Continue reading Flutterwave Expands into North Africa
Solving Nigeria’s Mortgage Crisis: The Role of FinTech
9th February 2023
According to experts, there are growing opportunities in unlocking the potential of Nigeria’s mortgage sector valued at over N6.4 trillion but lack of awareness, accessibility, security, lack of infrastructure and government policy are dampening demand. The mortgage sector in Africa’s biggest economy, according to them, is grappling with the high cost of construction, surging … Continue reading Solving Nigeria’s Mortgage Crisis: The Role of FinTech
Gifty Introduces Platform for Building Digital Stores
7th February 2023
Nigerian company Gifty has introduced a platform that enables merchants to establish a digital store where they can showcase their products and receive orders through direct messaging. The platform was founded in January 2022 by Victor Akpan (CEO), David Enejison (CTO), and Francisca David (COO) and can be set up in under five minutes. … Continue reading Gifty Introduces Platform for Building Digital Stores
Flutterwave Cleared of Fraud Accusations
Flutterwave, a Nigerian fintech company, has been acquitted of money laundering charges that were made against it by the Kenyan Asset Recovery Agency (ARA) seven months ago. The charges resulted in a freeze of around $56.7 million in the company’s account. The withdrawal of the charges has been confirmed by Robert Gitau, a lawyer … Continue reading Flutterwave Cleared of Fraud Accusations
Lenda Raises $520,000 In Pre-seed Funding
Lenda, a Nigerian fintech company providing financing to micro, small and informal retailers, has received $520,000 in pre-seed funding to accelerate its growth. The Lagos-based startup, founded in 2021, enables small businesses to quickly obtain affordable credit with no upfront collateral in under six hours through its data-driven credit-scoring platform. The platform assesses character … Continue reading Lenda Raises $520,000 In Pre-seed Funding
Developing A FinTech Platform For Immigrants In Nigeria
4th February 2023
Developing a fintech platform for immigrants in Nigeria can be a promising venture, given the country’s large and growing immigrant population. This platform can cater to the unique financial needs of immigrants, such as currency exchange and remittances. To be successful, the platform needs to offer convenient, secure, and affordable financial services that address … Continue reading Developing A FinTech Platform For Immigrants In Nigeria
FinTech And Diaspora Investment in the Nigerian Market
Fintech companies can play a significant role in helping Nigerians in the diaspora to invest in the Nigerian market by providing innovative and convenient investment solutions. Here are ten ways in which fintech can help: Read more about FinTech Online Investment Platforms Fintechs can provide online investment platforms that enable Nigerians in the diaspora … Continue reading FinTech And Diaspora Investment in the Nigerian Market
P2P Lending Platforms and Nigerians in the Diaspora
A P2P lending platform for Nigerians in the diaspora aims to provide a convenient and secure platform for individuals to lend and borrow money. The platform utilizes technology to match lenders with borrowers and facilitate transactions. It offers an alternative to traditional banking systems and allows lenders to earn a return on their investment … Continue reading P2P Lending Platforms and Nigerians in the Diaspora
Olugbenga Agboola on Building a Functioning Fintech Company Across Africa
2nd February 2023
The African fintech startup Flutterwave, which reached a valuation of $3 billion in February 2022, grew faster than many experts predicted. But founder and CEO Olugbenga “GB” Agboola wasn’t one of them. Read more about FinTech For Olugbenga Agboola, the rapid pace of his company’s ascent is simply another symptom of the burgeoning growth … Continue reading Olugbenga Agboola on Building a Functioning Fintech Company Across Africa
By guestpost
7 Nigerian FinTech Startups to Watch Out for in 2023
30th January 2023
There’s much to look forward to in Nigeria’s FinTech space in 2023. As it continues to mature, we’ll see a number of players become more dominant in their segments, and witness the gradual but certain usurpation of leadership in other niches. New products will be rolled out, millions of dollars will be raised in … Continue reading 7 Nigerian FinTech Startups to Watch Out for in 2023
Nigeria’s Central Bank Launches AfriGo
27th January 2023
Nigeria’s central bank, the Central Bank of Nigeria (CBN), has launched a national domestic card scheme called AfriGo. The scheme was announced in October 2022 at the Bankers’ Committee and aims to drive financial inclusion and control card financial data within Nigeria. The CBN governor, Godwin Emefiele, stated that this move will also serve … Continue reading Nigeria’s Central Bank Launches AfriGo
106 Digital Lenders Are Now Licensed To Operate In Nigeria
The Federal Competition and Consumer Protection Commission (FCCPC) has granted permission for 106 digital lenders to operate in Nigeria. This comes after the introduction of a digital lending regulatory framework in August 2022. Out of the 106 digital lenders, 65 have received full approval, while the remaining 41 have been granted conditional approval. Read … Continue reading 106 Digital Lenders Are Now Licensed To Operate In Nigeria
10 Predictions and Trends for the African Mobility Industry In 2023
20th January 2023
In Africa, small and medium-scale car dealers comprise almost 82% of the car dealership market, and most of these merchants sell second-hand automobiles at high prices due to inadequate financing. In emerging markets like Vietnam, India, Brazil, Indonesia, Malaysia, and a substantial fraction of Latin America the average of institutional credit in automotive transactions … Continue reading 10 Predictions and Trends for the African Mobility Industry In 2023
A Roundup of FinTech Funding, Mergers and Acquisitions in 2022
13th January 2023
The year 2022 proved to be an interesting one for Nigeria’s tech ecosystem as a whole and FinTechs in particular. In many ways, it offered up more of what we witnessed in 2021—new players coming on the scene, significant funding from investors, and increased use of the products that startups in the space provided. … Continue reading A Roundup of FinTech Funding, Mergers and Acquisitions in 2022
7 Ways Fintechs Can Build Financial Products for SMEs
12th January 2023
Small and medium-sized enterprises (SMEs) play a vital role in the economy, providing jobs and driving economic growth. However, SMEs often face unique challenges when it comes to financing their operations and growth. To address these challenges, financial institutions offer a variety of financial products specifically tailored to the needs of SMEs. Read more … Continue reading 7 Ways Fintechs Can Build Financial Products for SMEs
Apply for the Africa Blockchain Incubation Program 2023
10th January 2023
The Africa Blockchain Institute has announced that it is receiving applications from startup founders who want to take part in the Africa Blockchain Incubation Program. The incubator is open to persons who are building blockchain-based solutions for markets on the continent. Read more about Opportunities The Africa Blockchain Incubation Program will give its participants … Continue reading Apply for the Africa Blockchain Incubation Program 2023
Data And Machine Learning to Personalize Customer Experience
5th January 2023
In our today’s world, the subject of data and machine learning are fast becoming mainstream in businesses. Big Data and Machine Learning technologies have been reputed for their potential of providing a personalized customer experience. However, many businesses are at a loss on how to go about using or incorporating these technologies in their … Continue reading Data And Machine Learning to Personalize Customer Experience
10 Ways to Leverage Technology to Improve Customer Experience
In the financial technology (FinTech) industry, leveraging technology can significantly improve customer experience. By using artificial intelligence and machine learning, FinTech companies can personalize services and streamline transactions for individual customers. Moreover, tools like chatbots and virtual assistants can provide instant customer support, while virtual and augmented reality technologies can enhance customer education and … Continue reading 10 Ways to Leverage Technology to Improve Customer Experience
10 Things Banks Are Doing That FinTechs Should Adopt
27th December 2022
We can’t deny the fact that the banks have legacy structures that puts them ahead of many FinTechs, especially in Nigeria and beyond. For one, banks have a lot of sophisticated relationships with the government as well as regulators. Second, having been in operation much longer than FinTechs, banks have been able to earn … Continue reading 10 Things Banks Are Doing That FinTechs Should Adopt
Top 10 Nigerian Startups in 2022
25th December 2022
Starting and running a tech startup in Nigeria is a Gordian task that requires the strength and tenacity of Hercules. This is why it is not surprising that Nigeria has been described as one of the most unfriendly places to business according to experts due to varying factors ranging from infrastructure to regulatory problems … Continue reading Top 10 Nigerian Startups in 2022
How To Set Up A Mobility Fintech Company in Nigeria
24th December 2022
There seems to be a thriving market opportunity for mobility fintech in Nigeria. Studies have shown that Nigeria is very underserved when it comes to access to affordable transportation. In fact, owning a car is still considered a luxury in this part of the world, whereas in the United States, Europe and Canada and … Continue reading How To Set Up A Mobility Fintech Company in Nigeria
7 Business Opportunities For Mobility Fintech In Nigeria
Nigeria like any other emerging market is full of opportunities for businesses, especially startups that are operated through technology. Moreover, the country has the strongest startup ecosystem in Africa with over 500 registered startups that are meeting the diverse needs of people ranging from finance to health to housing and retail, etc. Also, the … Continue reading 7 Business Opportunities For Mobility Fintech In Nigeria
Problems Confronting Mobility FinTech Companies in Nigeria and the Way Out
Setting up a mobility FinTech company in Nigeria is not without its challenges. These challenges are social, political, economic and even infrastructural. However, there are dozens of mobility FinTech startups in Nigeria with the two leading being Moove and Autocheck. Others include Quriee, Tour, Pickmeup and so on. Despite their presence, mobility FinTech is … Continue reading Problems Confronting Mobility FinTech Companies in Nigeria and the Way Out
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