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Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
An African Unicorn raised $50 Million in record bond issuance.
Africa’s cross border fintech won a $1 Million award.
Nigeria’s soonicorn fntech expanded in four markets.
Africa’s biggest mobile money to receive $300 Million investment annually.
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💸Fundraise and Exits
Egypt’s MNT-Halanraised $50 Million in record bond issuance.
Top 20 Best Fintech companies in Egypt
Verto won the $1Million Milken-Motsepe Grand Prize for Transforming Cross-Border Payments in Africa.
💰 Venture Funds
An investor shared why local capital is important for Africa’s tech ecosystem.
2024's most active investors into startups in Africa!
🚀 Partnerships & Product Launches
👔 Leadership Lineup
Multiplier Effect of Ken Njoroge, Co-founder of Cellulant .
Ken Njoroge impact in African startups
📰 News of the Week
M-pesa now makes 44% of Safaricom’s revenue
“This year we will be going to what we are calling M-Pesa 2.0 which is the next phase of the M-Pesa platform,” Safaricom CEO Peter Ndegwa said. “It’s about investing for capacity, for functionality, for stability and also for resilience which is about ensuring that customers can always rely on our ecosystem.”
👀 Eye Openers
“It costs more to send R200 between two local bank accounts than it does to send $1,000,000 across the world using modern payment rails”
📑 Read of the week
The year African Fintech gets real. (Fastcompany)
📖 Other News, Reads, and Media
Jumia narrowed losses to $16.5 million in Q1 ’25 as currency problems pressured revenues.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Remittances, Regulation and Reality Checks with LemFi co-founder and CEO Ridwan Olalere.
🦉 Tweet of the Week
Stripe is launching stablecoin accounts in over 100 countries including the following 27 in Africa.
Of note, Nigeria, South Africa, Egypt, and Kenya are missing, most likely due to unclear regs. Senegal's inclusion should be quite interesting given how quickly xb payments are…— Stephen Deng (@mrstephendeng) May 8, 2025
🎯 Fintech Opportunities
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