B2B Fintech enablers - Africa
Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
Four funding deals were announced.
South Africa’s Fintech expanded in Francophone West Africa through acquisition.
Africa’s most valuable Fintech launched its Remittance platform in Ghana.
Fintech subsidiary of Africa’s biggest bank lost $1.2 Million in 2024.
Kenyan court ordered a Fintech to pay $21,600 over unfair dismissal of former executive.
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💸Fundraise and Exits
Ivorian fintech startup Djamo raised $17 Million in equity funding to expand its mobile banking services across Francophone Africa.
FRANCOPHONE AFRICA STARTUP
Mobile Money in Tanzania
💰 Venture Funds
African tech funding remains stagnant as 55 startups raised $284 Million in Q1 2025.
Funding raised by start-ups in Africa | 2019 - Q12025
🚀 Partnerships & Product Launches
Flutterwave launched Send App in Ghana.
Flutterwave is the most valuable African Startup
👔 Leadership Lineup
Kenyan court orderedUmba to pay $21,600 over unfair dismissal of former executive.
The Case
📰 News of the Week
South Africa’s Peach Paymentsacquired Francophone West African payments gateway PayDunya.
Peach Payments, a 13-year-old South African payment gateway acquired PayDunya, a payment gateway in Francophone West Africa. This marks a strategic expansion into six new markets for Peach Payments.
The founders of PayDunya bootstrapped the company with €20,000 ($22,000) before turning it into a profitable business. Today, PayDunya employs over 40 people, serves more than 4,000 B2B clients, and processes 70,000 transactions daily.Peach Payments’ CEO Rahul Jain described the acquisition as a natural next step following its €29M / $31 million Series A in late 2023, led by Apis Growth Fund II.
👀 Eye Openers
Market types in Africa;
📑 Read of the week
Agency Banking in Nigeria, An interesting Love Story.(Nnanna)
📖 Other News, Reads, and Media
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Interview with Iyin Aboyeji on how he built two Unicorns before 30.
🦉 Tweet of the Week
The Africa-to-Asia trade corridor is surprisingly huge, and most fintech providers shockingly don't look into that market.
The more shocking part is 70% of the currency conversions for those trades happen on WhatsApp.— Dami.base.eth (@Sir_Damilare) April 1, 2025
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