FairMoney, a digital bank based in Lagos and headquartered in Paris, is reportedly in talks to acquire Umba, a digital bank operating in Nigeria and Kenya. The talks involve a $20 million all-stock deal, but negotiations are in their early stages, TechCrunch reported Tuesday (Feb....
Kenyan lender Credit Bank reportedly plans to raise 1 billion shillings (about $6.89 million) through an initial public offering (IPO) on the Nairobi Securities Exchange (NSE). The move would mark the first IPO on the NSE since 2014 when the exchange listed itself, Bloomberg reported Monday (Aug. 28). However, the timing...
Nigerian payments company Flutterwave is reportedly planning to go public. In an interview with Bloomberg News published Tuesday (Aug. 22), the company’s chief executive said it is moving forward with a planned initial public offering (IPO). Olugbenga Agboola, also one of the co-founders of Flutterwave, told Bloomberg the company...
Kenya’s government is worried about Worldcoin, OpenAI founder Sam Altman’s identity-focused cryptocurrency. The African nation’s Ministry of the Interior suspended Worldcoin’s operations in Kenya Wednesday (Aug. 2), amid a government investigation, according to a press release. “The Government is concerned by the ongoing activities of an organization calling itself ‘WORLD COIN’...
July 06, 2023
In 2019, Meta CEO Mark Zuckerberg said it was time to simplify money movement and make sending money to someone as easy as sending a photo. However, what that statement, seen as groundbreaking back then, failed to acknowledge is that Africans have been sending and receiving money without traditional bank accounts for over a decade […]
May 01, 2023
Real-time payment systems have become increasingly popular around the world due to the rise of digital payments and the need for faster and more efficient financial transactions. Some of the...
December 23, 2022
After reaching new heights in 2021, VC funding in EMEA slowed sharply in 2022. While final full-year tallies are not settled yet, data from the first three quarters suggests that...
May 07, 2018
Building, sustaining and growing a small business isn’t easy in the best of circumstances. Even in a developed economy, margins are narrow, and tough decisions must be made daily, if...
April 22, 2024
A Binance executive who fled Nigerian custody last month has reportedly been found in Kenya. Nadeem Anjarwalla, a British-Kenyan who is the cryptocurrency giant’s regional manager for Africa, escaped after weeks of being held in Nigeria along with a second executive. He has since been located in Kenya and is facing extradition, Coinbase reported Monday (April 22), citing Nigerian media accounts. […]
February 20, 2024
FairMoney, a digital bank based in Lagos and headquartered in Paris, is reportedly in talks to acquire Umba, a digital bank operating in Nigeria and Kenya. The talks involve a...
August 28, 2023
Kenyan lender Credit Bank reportedly plans to raise 1 billion shillings (about $6.89 million) through an initial public offering (IPO) on the Nairobi Securities Exchange (NSE). The move would mark the first IPO on the NSE...
August 22, 2023
Nigerian payments company Flutterwave is reportedly planning to go public. In an interview with Bloomberg News published Tuesday (Aug. 22), the company’s chief executive said it is moving forward with a planned initial public...
