Africa FinTech Spotlight
Valu Debuts on Egyptian Exchange, Marking Milestone in Egypt’s Fintech Evolution
EFG Holding, a leading financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), and its universal financial technology powerhouse U Consumer Finance S.A., known by the trademark Valu, announced the commencement of trading of Valu on the Egyptian Exchange (EGX). This landmark milestone underscores Valu’s transformative impact on Egypt’s fintech landscape and EFG Holding’s unwavering commitment to innovation, financial inclusion, and sustainable growth.
Valu’s listing on the EGX was executed through an innovative in-kind dividend distribution, where EFG Holding distributed 20.488% of Valu’s share capital to its shareholders, as of the record date, June 12th, 2025. The transaction was funded by EGP 335,322,346 from EFG Holding’s distributable retained earnings. Shareholders received one Valu share for every 3.3273 EFG Holding shares held, with fractional ownership being rounded in favor of minorities, enabling shareholders to directly participate in the growth of one of Egypt’s most dynamic fintech platforms. On its debut, global technology heavyweight Amazon has acquired shares representing a 3.95% direct shareholding in Valu for a price per share of EGP 6.041. EFG Finance Holding (EFG Finance), a subsidiary of EFG Holding, will continue to own 67% of Valu post trading and sale of shares to Amazon.
Interswitch highlights fintech’s human impact
Interswitch, one of Africa’s foremost digital payment and commerce companies, has launched a new Masterbrand campaign spotlighting its invisible yet impactful role in powering everyday life across the continent.
The campaign, anchored on the company’s enduring ‘Never Stop’ brand philosophy, was unveiled during an immersive screening event held at the Interswitch Innovation Lab in Victoria Island, Lagos, on Wednesday, June 25.
Executive Vice President of Marketing and Communications, Interswitch Group, Cherry Eromosele, described the new television commercial as more than just a brand film, calling it “a cultural moment”.
Read more: https://punchng.com/interswitch-highlights-fintechs-human-impact/?amp
Intreensic Officially Launches “Made-in-Payments” to Spotlight Africa’s Payment Trailblazers and Inspire the Next Generation
Intreensic, a payments education and advisory group established to address Africa’s payments and fintech talent gap, has officially launched “Made-in-Payments”, a flagship platform dedicated to spotlighting the pioneers and trailblazers whose contributions have transformed Africa’s payments ecosystem and continue to shape its future.
As Africa’s digital economy accelerates, the payments ecosystem has emerged as a critical driver of inclusion, commerce, and economic transformation. Made-in-Paymentscaptures and amplifies the real stories of the individuals who built the rails, created groundbreaking innovations, and disrupted traditional financial systems to make payments faster, safer, and more inclusive.
Why Johannesburg’ Metrobus is switching to contactless card payments
Metrobus, the second largest municipal bus operator in South Africa, is changing the way users pay for their rides.
Starting on Tuesday, Johannesburg commuters will use contactless cards to pay for their bus rides: simply register, load money onto the card, then tap in when boarding and tap out when leaving. This new system enables Metrobus to calculate fares based on the actual distance travelled, not just the travel zone. This is all part of Metrobus’s push to modernise and streamline public transport, which it started in October 2024 with cashless payments.
“Metrobus has embarked on a digital transformation journey,” said Tshepo Nathan, corporate strategy and business support manager at Metrobus. “This is in line with our strategic direction towards ensuring a digitally enabled operation for the benefit of our commuters.”
Read more: https://techcabal.com/2025/07/01/why-joburgs-metrobus-is-changing-to-contactless-cards/
audax and FPT Strengthen Digital Banking Push in APAC, Middle East
FPT, a Vietnamese IT services provider, has entered into a strategic partnership with audax Financial Technology, a digital banking solutions provider backed by Standard Chartered.
The collaboration aims to deliver digital banking services across Asia Pacific and the Middle East, with a revenue target of US$100 million over the next three years.
As part of the agreement, FPT becomes audax’s largest regional partner, taking on development, testing, deployment, and long-term operational support.
Read more: https://fintechnews.sg/113326/vietnam/audax-fpt/
Bitget launches zero-fee crypto card with Mastercard support
The card will be available through the Bitget Wallet app – which counts over 80 million users globally – and supports real-time funding via onchain swaps and deposits.
The product also includes optional incentives such as transaction-based rewards, yield on idle balances in wallet, and one-time bonuses for completing identity verification.
Leveraging Mastercard Digital First technology, users can apply for the card digitally and within minutes add it to their mobile wallets for use at both physical and online merchants.