AFN Celebrating 6 Years of Impact and Growth
On 24th January 2018, fintech leaders and regulators from Nigeria, Uganda, Ethiopia, Kenya and Ghana convened in Lagos, Nigeria, to lay the foundation for a pan-African fintech movement. This meeting, convened by Fintech Association of Nigeria and titled “African Fintech Enablers Roundtable” which was part of the program for the 2nd Nigeria National Fintech Conference highlighted the urgent need for cooperation, collaboration, policy and regulatory harmonization, and an ecosystem development approach to drive Africa’s digital economy.
That vision materialized into the Africa Fintech Network (AFN), formally inaugurated on 4th December 2018 at the first Africa Fintech Festival in Lagos, Nigeria. The inauguration was conducted by dignitaries and institutional representatives that included Nigeria’s Vice President; the African Development Bank; IMF; UNECA, UK-DFID, Ecobank Group etc.
Mukuru Expands Its Strategy Across Africa To Meet Growing Demand In The Mobile Money Industry
Mukuru, a pan-African digital payments company, is preparing to expand its strategy across the continent as the rise of online transactions grows. The company currently serves 17 million users in Africa, Asia, and Europe, refining over $3.5 to $4 billion in payments annually across Africa, as stated by TechPoint.
“Customers have become more comfortable using digital means, network, and infrastructure,” Chief Executive Officer Andy Jury told Bloomberg.
Read more: https://shorturl.at/CGtbW
Experts bet on fintech to drive Nigeria towards a $1trn economy
As Nigeria aspires to achieve a $1 trillion economy by 2030, the role of financial technology (fintech) in fostering economic growth and financial inclusion has become increasingly vital.
This ambitious target, established by the federal government, seeks to more than double Nigeria’s current economic size. The goal is part of a broader strategy to accelerate economic reforms, strengthen financial infrastructure, and modernise regulatory frameworks to create a more dynamic and inclusive economy.
According to the World Bank, Nigeria’s economy was valued at $362.81 billion in 2023, and to reach the $1 trillion mark, the economy will have to grow at an impressive rate annually.
Read more: https://www.businessamlive.com/experts-bet-on-fintech-to-drive-nigeria-towards-a-1trn-economy/
Nigeria’s NIBBS, Ceva, lobby Ruto to build Kenya’s new payment system
Nigeria’s Interbank Settlement System (NIBBS) and Kenyan payments software provider Ceva Limited are lobbying President William Ruto to develop Kenya’s new Fast Payment System (FPS) and national digital ID programme, intensifying competition for one of Kenya’s most lucrative financial projects.
In a letter to Ruto seen by TechCabal, Ceva Limited requested a meeting to present NIBBS as its strategic partner in building the country’s new payment infrastructure.
“We are writing to formally request a meeting with you at your earliest convenience, on either 20th or 21st March 2025,” the letter read. “ The purpose of the meeting is to introduce our partner, the Nigerian Interbank Settlement Systems (NIBBS).”
Read more: https://techcabal.com/2025/03/24/nibss-ceva-lobby-kenyas-new-payment-system/
Seven Emerging Trends Shaping South Africa’s Digital Payment Landscape
In recent years, the way consumers, financial service providers and retailers handle payments has undergone a significant transformation. The aggressive rate at which digital solutions are being adopted in South Africa has placed digital and traditional payment solutions at a crossroads, compelling the industry to adapt to the shifting expectations of consumers.
The challenge this presents is how financial service providers (FSPs) can strike a balance between personalisation, transparency, and integrating digital advancements without alienating customers who still rely on traditional solutions.
Embedded payments startup enza raises $6.75 million
Founded in 2023, enza’s payment portfolio allow banks and fintechs to provide locally relevant payment capabilities in African markets, including cards, wallets, and real-time payments.
Enza’s platform is designed for banks and fintechs on the issuing side, and SMEs and merchants on the acceptance side, covering both elements of the transaction chain.
Existing client use cases include the enablement of digital payment options such as domestic schemes, real-time payment services, mobile money, and BNPL, alongside the international payment schemes in multiple African countries.
Read more: https://www.finextra.com/newsarticle/45700/embedded-payments-startup-enza-raises-675-million
Nexi Expands Tap to Pay on iPhone to Switzerland and Finland
European paytech company Nexi has introduced Tap to Pay on iPhone in Switzerland and Finland, allowing merchants to accept in-person contactless payments seamlessly and securely.
This follows similar rollouts in Italy, Germany, Austria, and Sweden last year.
Tap to Pay on iPhone enables merchants to accept all forms of contactless payments—including contactless credit and debit cards, Apple Pay, and other digital wallets – using only an iPhone and Nexi’s SoftPOS functionality in the MyPayments app.
Read more: https://fintechnews.ch/payments/nexi-tap-to-pay-iphone-switzerland-finland/75304/
