Zimbabwe’s InnBucks MicroBank partners Mambu for African expansion
zimbabwe-based fintech InnBucks MicroBank has selected Dutch core banking vendor Mambu to support its expansion across Africa and transition into a fully integrated digital bank.
Initially launched in 2022 as a digital wallet solution, InnBucks has since incorporated personal and business banking, international remittances, digital payments, and lending services into its product suite.
Airtel Money plans IPO to compete in fintech market
Airtel Africa is positioning its mobile money platform, Airtel Money, to challenge Africa’s fintech giants through a planned initial public offering set for the first half of 2026, Chief Executive Officer Sunil Taldar said in the company’s latest financial results.
The IPO will bolster Airtel Money’s ability to compete with dominant players like Safaricom’s M-Pesa and MTN’s MoMo in the continent’s rapidly growing fintech market.
The operator’s fintech unit, operating across 14 African countries including Nigeria, has grown its subscriber base by 17.3 per cent year-on-year to 44.6 million active users as of early 2025, according to the company’s first-quarter financial results.
Read more: https://punchng.com/airtel-money-plans-ipo-to-compete-in-fintech-market/#google_vignette
Kenya proposes ban on cashless-only payments below $775 under new bill
Kenya may soon outlaw cashless-only transactions for everyday purchases, under a proposed law that would make it mandatory for businesses to also accept physical currency for payments below Ksh100,000 ($775).
The Central Bank of Kenya (Amendment) Bill, 2025, sponsored by Suba South Member of Parliament Caroli Omondi, would make it illegal for businesses operating in physical locations to reject cash for transactions under $775. Omondi said the bill is about protecting everyday Kenyans who are being left behind as more businesses go digital.
Read more: https://techcabal.com/2025/05/13/kenyan-mp-proposes-banning-cash-payments-under-775/
The World’s Most Valuable Neobanks
Brazil’s Nubank has emerged as the world’s most valuable neobank, boasting a valuation of US$58 billion, according to new data released by Multiples, a UK-based valuation data platform. This remarkable figure reflects strong investor confidence in Nubank’s growth potential and its perceived ability to dominate the digital banking sector.
In addition to its market value, Nubank also leads in financial performance, generating in 2024 US$11.5 billion in revenue and US$2.2 billion in pre-tax profit. These numbers suggest that Nubank has successfully scaled its operations while maintaining strong financial performance. It demonstrates operational efficiency, effective cost management, and a well-diversified business model.
NymCard Secures UAE Central Bank License for Open Finance Services
NymCard, the MENA region’s leading embedded finance platform, announced that it is now officially licensed to provide Open Finance services under the Central Bank of the UAE’s Open Finance regulation.
With this milestone, NymCard becomes one of the first entities in the UAE to embed regulated payment functionality within a broader financial infrastructure through one modular platform.
Emirates NBD partners with Nasscom to drive cross-border fintech innovation between the UAE and India
Dubai, UAE: Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, signed a Memorandum of Understanding (MoU) with Nasscom, the premier trade association for the technology industry in India, to strengthen cross-border FinTech and technology innovation between the UAE and India. Signed at the Dubai FinTech Summit, the MoU underscores Emirates NBD’s commitment to transform the region’s digital banking sector by leveraging India’s burgeoning FinTech ecosystem, projected to reach USD 1.5 trillion.
As bilateral trade between the UAE and India continues to strengthen, climbing to USD 83.6 billion in FY2023-2024, this strategic collaboration will create a robust ecosystem to facilitate the scouting and onboarding of high-potential FinTech companies from India into the UAE market, while fostering joint research and knowledge sharing to drive innovation within the financial services sector. These innovations will result in enhanced digital banking capabilities, faster service delivery, improved personalisation and cost efficiencies that benefit Emirates NBD’s retail and corporate customers.
