
Africa Fintech Spotlight
Digital Payment Today – Africa’s Digital Wallet Market Poised for Significant Growth
Africa’s prepaid card and digital wallet market is projected to experience significant growth, with forecasts indicating a compound annual growth rate (CAGR) of 13.3% from 2025 to 2029, reaching an estimated value of $59.4 billion by 2029. This expansion is primarily driven by increased digital adoption, financial inclusion initiatives, and the integration of mobile money platforms, which collectively enhance access to financial services for unbanked populations.
The rise of prepaid card solutions for younger demographics and their integration with mobile money platforms also play a crucial role in facilitating cross-border transactions and broadening the accessibility of financial services across the continent. The competitive landscape is marked by strategic partnerships and regulatory support aimed at transforming Africa’s financial ecosystem.
Read more: https://finance.yahoo.com/news/digital-payment-today-africas-digital-123736005.html
How African Fintech Is Transforming Currency Flows Across Borders
What happens when millions of people need to move money across borders, but the system just doesn’t support them?
That’s been the reality across much of Africa for years. Trade happens. Remittances flow. People send money to family, pay workers, and do business. But getting that money from one country to another? Slow, expensive, and full of friction.
Now, things are changing, and fast!
African fintech is stepping in, solving problems that have existed for decades. If you’ve noticed how money is moving faster and cheaper than ever between countries across the continent, fintech is behind that.
Flutterwave’s Cameroon license expands African reach
Flutterwave has secured approval to operate as a licensed payment service provider in Cameroon as it strives to build Africa’s most extensive digital payments network.
The fintech received the authorisation from Cameroon’s National Payment Systems Department, which enables it to offer a full range of digital payment solutions to businesses and individuals in Central Africa.
Bank of Kigali taps internal talent for fintech innovations at first hackathon
The Bank of Kigali is looking inward for its next wave of innovations, turning to its employees to create new tech solutions during the inaugural BK Hackathon 2025. The final competition took place on Friday, June 20, at the Kigali Convention Centre. Teams of four to six participants presented their projects to a panel of judges, demonstrating how their ideas could benefit both customers and the broader Rwandan fintech sector.
ALSO READ: BK Foundation, GIZ Equip 138 Entrepreneurs with skills and capital for circular economy ventures The hackathon, which began in December 2024, initially attracted more than 300 participants.
Seventy projects advanced to preliminary rounds, with only 10 making it to the final stage. The winning project, Inkindi, developed by the team Nawe Byakubera, addresses the bookkeeping challenges faced by Rwanda’s small and medium-sized businesses. Many entrepreneurs still rely on handwritten ledgers to track transactions.
Read more: https://shorturl.at/d2Zrk
Hong Kong, China launch Payment Connect for faster cross-border payments
The central banks of Hong Kong and China have pushed forward Payment Connect, which sees in their clearing centres cooperate to enable faster payments between the two markets.
Launched on 22 June 2025, Payment Connect links together China’s Internet Banking Payment system (IBPS) and Hong Kong’s Faster Payment System (FPS), supporting real-time cross-border payment services for residents in both markets.
It will also enable payment systems of participating institutions to provide faster remittance services in Renminbi and Hong Kong dollars.
Prosus delays Indian payments firm PayU IPO to enhance business operations
JOHANNESBURG (Reuters) -Dutch technology investor Prosus is not planning to list Indian digital payments and lending firm PayU this year, with the focus on improving the business over the next six to 12 months, its chief financial officer said on Monday.
While Prosus hoped to list PayU by 2025, “that is not going to be our focus in the next year. Our focus is actually going to be to improve that business,” Nico Marais, Prosus’s chief financial officer told Reuters.
Read more: https://www.aol.com/news/prosus-delays-indian-payments-firm-080944190.html
