Velmie delivers Sierra Leones’ first digital banking super app
As part of its efforts to increase financial inclusion on the continent, global banking technology firm Velmie recently powered the launch of Vult, Sierra Leone’s first digital banking super app, which it says is currently online and gaining substantial interest.
Built in partnership with Metro Cable, the country’s broadband provider, Velmie asserts this is a key milestone in digital finance for the region and highlights how scalable, API-driven infrastructures can fast-track financial inclusion.
Vult’s introduction comes at a time when the World Bank notes that Sub-Saharan Africa has seen tremendous development in financial inclusion over the last decade, owing in large part to the uptake of mobile money accounts.
Read more: https://itweb.africa/content/rxP3jMBEloy7A2ye
XPay: Navigating Egypt’s Evolving Fintech Ecosystem and Capitalizing on Future Growth
Arab Finance: Egypt’s fintech is growing remarkably, solidifying its position as a regional leader and a rising global contender. In 2024, Egypt had the highest representation in Forbes’ “Middle East’s Fintech 50,” with 13 companies featured, showcasing its dynamic innovation ecosystem. The sector is projected to grow at a compound annual rate of 37% until 2029, driven by increasing demand for digital financial services and supportive regulatory frameworks (Fintech 2025 – Egypt | Global Practice Guides | Chambers and Partners).
So, Arab Finance interviewed Dr. Mohamed Abdelmotteleb, Founder and Managing Partner of XPay. He explores how his company is contributing to Egypt’s fintech revolution by leveraging innovative strategies and fostering financial inclusion.
Safaricom sets aside $300m to upgrade M-PESA.
M-PESA, Africa’s most successful mobile money platform, is undergoing major upgrades, with a whopping $300 million (Ks40 billion) set aside for the project.
Last week, Safaricom Group CEO Peter Ndengwa announced that M-PESA 2.0 will be upgraded this year, describing it as “the next big leap that will boost stability, capacity, and overall customer experience.”
He declared: “By the time it’s fully rolled out, there will be zero downtime for customers. Safety and security are always our top priority.”
Read more: https://itweb.africa/content/RgeVDMPRdOevKJN3
Canada-Africa Fintech Summit Builds Globa Momentum at Ottawa Briefing
The Canada-Africa Fintech Summit moved into a new phase of global relevance and diplomatic significance following a landmark breakfast briefing held in Ottawa, which brought together Ambassadors of African countries to Canada, Canadian institutional leaders, and strategic private sector partners in a world-class gathering that many are calling historic.
The briefing, hosted in the Canadian capital on April 8, 2025, served as an exclusive platform for information dissemination, strategic alignment, and regional mobilization ahead of the highly anticipated Canada-Africa Fintech Summit.
Why Visa is banking on contactless payments for its next growth wave in Africa
Global payments giant Visa is doubling down on contactless payments across Africa as part of a broader strategy to expand its relevance in markets where traditional card usage is still limited.
“We think contactless payment is going to grow [in Africa] just as we’ve seen it grow everywhere around the world,” Godfrey Sullivan, Visa’s SVP and Head of Products, Solutions, and Digital Partnerships for Central and Eastern Europe, Middle East, and Africa (CEMEA), told TechCabal on the sidelines of GITEX Africa 2025. “It is going to become how people pay face-to-face.”
Read more: https://techcabal.com/2025/04/22/visa-on-contactless-payments/
SBS improves microfinance to expand financial access across Africa
SBS, a global fintech company, has expanded its SBP Core Amplitude technology for microfinance operations across Africa.
Approximately 220 large retail groups, including greenfield banks and microfinances across Africa, such as KCB Group, BGFI Bank, Orabank, Coris Bank, and Advans Nigeria, already use SBP Core Amplitude to optimise their operations.
SBP Core Amplitude centralises financial operations and aims to ensure 24/7 availability across various regions, while also providing real-time customer insights through mobile, web, or API-connected interfaces.