Skip links
Global Fintech News - AFN

Global Fintech Trends – 6th June 2024

Africa Fintech Festival 2024

8 Days To Go!

Join us in Naivasha, Kenya for the Africa Fintech Festival 2024, taking place from June 12th to 15th 2024! This fintech-friendly festival will gather the brightest minds and leading innovators, tech enthusiasts, and policymakers, offering a dynamic platform for dialogue, collaboration, and knowledge exchange.

Attendees will experience insightful keynote speeches, interactive panel discussions, fireside chats, a tour around the beautiful Enashipai in Naivasha, and cutting-edge product demonstrations, all designed to showcase the future of fintech.

Don’t miss the spectacular closing days filled with joy, laughter, and community spirit.

Mark your calendars and bring your products and innovative spirits to Naivasha, Kenya.

To attend the fest, register now: click here

For more info: Click here

UNDP Timbuktoo Fintech Startup Accelerator Programme 2024 For Young African Innovators.

Applications are now open for the 2024 UNDP Timbuktoo Fintech Startup Accelerator Programme. The timbuktoo Fintech Startup Accelerator Programme is a Pan-African initiative of the timbuktoo Fintech Hub in Lagos, Nigeria supporting startups that: Are deploying technology solutions in the financial services sector: These are startups that have a technology-enabled solution at its core, utilising digital tools and platforms to drive innovation and efficiency in the financial sector.

Read more here:

Cross-border payments are still costing businesses in Africa too much

Looking for growth? Africa is the continent that every country, trade minister, and business owner should turn their heads toward. According to the Africa Development Bank’s latest macroeconomic report, it confirmed that the African continent is set to maintain its position as the second-fast-growing region, just next to Asia. According to the report, next year “up to 41 countries across the continent will achieve an economic growth rate of 3.8% and in 13 of them, growth will be more than 1 percentage point higher than in 2023.” These are incredible statistics that demonstrate the growth opportunity across Africa due to the surging population and booming GDP growth.  Africa is forecasted to outpace global growth averages throughout 2024.

Read more here:

FINTECH GHANA | A Look At the Main Challenges Facing Fintechs in Ghana

n recent years, Ghana has witnessed a rapid rise in fintech companies, both domestically and internationally, with an estimated 70 fintechs operating in the country. The companies have now firmly entrenched themselves in Ghana, simplifying payments and financial transactions for locals. With the country pursuing more financial digitalization, these fintech companies are looking at even more growth over the coming years. However, the fintech sector also faces several key challenges that fintechs need to navigate through, if they are to establish a compelling business.

Read more here:

StanChart Joins Digital Credit Fray with SC Juza Mobile Loan App

Standard Chartered Kenya has rolled out a new mobile loan app called SC Juza where Kenyans can borrow short-term loans repayable within 60 days, with its CEO calling it “the final piece” in the lender’s digital evolution.

Read more here:

Onafriq and VGS Partner to Revolutionize Fintech Security in Africa

VGS, a leading payment tokenization firm, has solidified its strategic partnership with Onafriq, Africa’s largest payments network, to elevate security and foster innovation for fintech companies across the region. This collaboration builds upon a longstanding relationship between the two entities, where VGS has been a trusted partner in ensuring PCI compliance and implementing payment features.

Read more here:

Standard Chartered Launches Its Mobile Lending App

Standard Chartered has launched SC Juza, a short-term lending mobile app for its clients. The app aspires to meet the growing demand for short-term unsecured loans that are easily disbursed through mobile wallets. The fully digital product allows clients to borrow any amount between $7.65 (KES 1,000) to $764.88 (KES 100,000) with a two-month repayment period. Interest on this product will only be charged on the days the loan is held enabling clients to benefit from early repayments.

Read more here:

Egyptian fintech startup Thndr expands into UAE

Egyptian digital investment platform Thndr has expanded its services to the United Arab Emirates (UAE) after acquiring a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Launched in 2020 by Ahmad Hammouda and Seif Amr after it took part in the Silicon Valley-based Y Combinator accelerator, Thndrinitially offered users a commission-free, mobile first equities trading platform that makes it easy to invest in stocks, bonds, and funds.

Read more here:

UK trials ‘super ATM’ that will accept deposits for multiple banks

The UK’s Link ATM network is testing a new breed of cash machine capable of accepting desposits for multiple banks. The first machine is up and running in Atherstone in Warwickshire and further ATMs will also be trialled, according to Cash Access UK. With the gradual disappearnce of local bank branches from the high street, the new machines will help to alleviate the stresses on small business owners who often have to travel long distances to deposit their cash takings.

Read more here:

The Lessons NZ can learn from Asian fintech Platforms

New Zealand fintech experts are advocating for increased collaboration with Asia to broaden market reach and spur growth. Fintech is one of New Zealand’s fastest-growing tech sectors. According to the 2024 TIN NZ Fintech Report, New Zealand’s total fintech revenue grew from $160 million in 2013 to $2.64 billion in 2023, a growth that is four times larger than the rest of the tech industry combined over the past decade.

Read more here: