Equity Group has signed a landmark trade credit financing agreement with BpiFrance, France’s public investment bank, to bolster support for Small and Medium Enterprises (SMEs) in Kenya and across the East African region. Announced during French Week 2024, this partnership will provide SME investors with financing options in US dollars and Kenya shillings, empowering them to scale their operations and expand into regional markets.
Airtel Money Kenya has announced a strategic partnership with Naivas Supermarket, marking a significant step in its efforts to expand financial access across the country. This partnership will allow Airtel Money customers to deposit and withdraw cash at Naivas branches nationwide, bringing mobile financial services closer to the everyday consumer. By leveraging Naivas’ extensive branch network, Airtel Money is enhancing its service delivery and customer convenience.
Africa Nenda, in collaboration with the World Bank and the United Nations Economic Commission for Africa (UNECA), has launched the SIIPS Report 2024, shedding light on the rapid expansion of Instant Payment Systems (IPS) across Africa. This comprehensive report reveals that 31 IPS are currently operational in 26 countries, with an additional 27 nations preparing to launch their own systems, signaling the continent’s growing digital payment infrastructure. The report also highlights the immense potential of IPS to drive financial inclusion for underserved communities, particularly in rural areas.
New Africa Technology (NAT), a leading fintech startup based in Senegal, has partnered with MasterCard to launch an innovative virtual and physical prepaid card for users of its digital wallet service, Flash. This strategic collaboration aims to transform the payment landscape across Senegal, Côte d’Ivoire, and Benin, providing users with a seamless and secure way to manage their finances.
PalmPay, a leading pan-African fintech operating in Nigeria, Ghana, and Egypt, has announced the appointment of Femi Hanson as the new head of marketing and public relations for its Nigerian subsidiary. With five years of fintech marketing experience and a proven track record from leading marketing teams at OPay and Moni, Hanson brings deep expertise in driving impactful campaigns in Nigeria’s fast-growing digital economy.
Choice Microfinance Bank Limited has received approval from the Central Bank of Kenya (CBK) to upgrade its status from a community microfinance bank to a nationwide microfinance bank. The approval, granted on November 4, 2024, under section 7 of the Microfinance Act, paves the way for the institution to extend its operations across Kenya, marking a significant milestone in its growth.
Remitly, a leading global digital financial services provider, has partnered with Airtel Tanzania to enhance money transfer services to Tanzania. This strategic collaboration aims to simplify and accelerate the process of sending money across borders, offering a secure and seamless experience for individuals sending financial support to their loved ones in Tanzania.
Minka, a Colombian fintech startup leading in financial innovation, has announced its expansion into key African markets, including Nigeria, Kenya, Uganda, and Cameroon. This marks a pivotal step in its mission to drive financial inclusion across the continent by providing enhanced financial interoperability and transparency. The move highlights Minka’s commitment to improving digital payment solutions and empowering underserved individuals and businesses within both formal and informal financial systems.
