Nigerian fintech Payhippo rebrands as Rivy, raises $4 million for clean energy financing
Payhippo, a Nigerian fintech that formerly provided SME loans, has rebranded as Rivy and raised $4 million in a pre-Series A round to focus on its clean energy financing business. The funding—split evenly between $2 million in debt and $2 million in equity—will help the company expand beyond Nigeria with its clean energy financing solutions for businesses.
EchoVC, a Nigerian venture capital (VC) firm which has funded 38 African startups, co-led the equity round through its $2.5 million Eco fund, which focuses on climate, energy, agriculture, and mobility solutions, alongside Shell’s All On, a climate-focused impact investment organisation. Debt was provided by local debt providers.
Read more: https://techcabal.com/2025/03/26/payhippo-rebrands-as-rivy-raises-4-million/
MTN Group and Airtel Africa agree to network sharing in Uganda and Nigeria
Driven to extend digital and financial inclusion across Africa, MTN Group and Airtel Africa have entered into agreements to share network infrastructure in Uganda and Nigeria, while ensuring compliance with local regulatory and statutory requirements.
These sharing agreements target improved network cost efficiencies, expanded coverage and the provision of enhanced mobile services to millions of customers, particularly those in remote and rural areas who do not yet fully enjoy the benefits of a modern connected life.
MTN Group President and Chief Executive Officer Ralph Mupita said operators on the continent were seeing sustained demand for data services: “As MTN, we are driven by the vision of delivering digital solutions that drive Africa’s progress. We continue to see strong structural demand for digital and financial services across our markets. To meet this demand, we continue to invest in coverage and capacity to ensure high-quality connectivity for our customers. That said, there are opportunities within regulatory frameworks for sharing resources to drive higher efficiencies and improve returns.”
Read more: https://www.mtn.com/mtn-group-and-airtel-africa-agree-to-network-sharing-in-uganda-and-nigeria/
Crypto firm Zap Africa threatens legal action against Paystack over brand name dispute
Zap Africa, a cryptocurrency exchange that facilitates the conversion of crypto to Naira, has issued a legal threat to Paystack, a leading fintech company, over the use of the brand name “Zap.”
The contention arose following Paystack’s recent launch of “Zap,” a mobile app designed to streamline bank transfers.
Shola Akinlade, CEO of Paystack, described the new app as a tool to make money transfers faster and more reliable, clarifying that it is not a banking service. However, Zap Africa has taken issue with the name, claiming that its brand name is trademarked.
Fintech, remittances anchor Africa’s booming payments system
Africa’s Micro, Small, and Medium Enterprises , fintech industry, scaling remittances, and cross-border payments will be the driving forces behind the continent’s digital ballooning payments system, which is estimated to reach $1.5 trillion by 2030.
This is according to a MasterCard-commissioned study by Genesis Analytics, which states that the digital payments economy is growing faster on the continent.
This comes as the World Bank says Sub-Saharan Africa has shown significant growth in financial inclusion over the past decade, much of it driven by mobile money account adoption.
Read more: https://itweb.africa/content/Pero3MZ3KL6qQb6m
PayPal’s Merchant Lending Solutions Top $30 Billion in Loan Originations
PayPal said Wednesday (March 26) that it has passed $30 billion in global loan originations for small businesses since launching its first merchant lending solution in 2013.
Over that time, the company has extended more than 1.4 million loans to more than 420,000 business accounts globally, the company said in a Wednesday press release emailed to PYMNTS.
PayPal’s merchant lending solutions — PayPal Business Loan and PayPal Working Capital — are designed to help small businesses overcome the challenges they often face in accessing capital, Michelle Gill, executive vice president and general manager of SMB and financial services at PayPal, said in the release.
MNT-Halan obtains FRA’s nod for e-KYC and services in Egypt
Cairo – Mubasher: MNT-Halan has received approval from the Financial Regulatory Authority (FRA) to implement in Egypt electronic Know Your Customer, according to a press release.
This step marks a leap forward in Egypt’s fintech sector, delivering a seamless digital experience.
Mounir Nakhla, Founder and CEO of MNT-Halan, stated: “FRA’s approval of e-KYC marks a major step forward in our journey to simplify finance. This will unlock access to finance for millions of people digitally and allow us to break barriers like never before.”
