Standard Chartered Bank is expanding its suite of foreign currency investment options, offering Kenyan investors more ways to access global markets. With the introduction of new products such as USD Money Market Funds, USD Corporate Bonds, USD Government Bonds, and Signature CIO Funds, the bank is catering to the growing demand for international investment opportunities.
Yellow Card, the first licensed stablecoin on/off ramp in Africa, has successfully closed its Series C financing, securing US $33 million in equity funding. The financing round was led by Blockchain Capital, with significant contributions from several prominent investors, including Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital. This milestone not only underscores the company’s growth trajectory but also highlights the expanding potential of the African fintech industry as a whole.
The partnership between Absa Group, Standard Bank Group of South Africa Limited, and Saudi EXIM Bank marks a significant step towards enhancing trade and export opportunities between Saudi Arabia and South Africa. Signed during the Saudi-South African Business Forum in Johannesburg, this strategic agreement aims to deepen economic relations and create a framework for future collaboration. The deal also comes at an opportune time, coinciding with the visit of Saudi Arabia’s Commerce Minister, Dr. Majid Al-Kassabi, to South Africa, underlining the importance of building stronger economic ties between the two regions.
Verve International has achieved a remarkable milestone by issuing over 70 million payment cards, representing a 40% increase in issuance volumes within just 15 months. This rapid growth is a testament to Verve’s significant role in Nigeria’s domestic payment ecosystem, where the demand for secure and convenient payment solutions continues to rise. The achievement not only underscores Verve’s dominance but also reflects its ability to scale effectively to meet the evolving needs of users across the country.
Jamie Dimon, CEO of J.P. Morgan, has officially embarked on an Africa-wide trip following the bank’s recent expansion into the continent. This initiative comes on the heels of J.P. Morgan securing licenses to establish new representative offices in Nairobi, Kenya, and Abidjan, Côte d’Ivoire. The expansion reflects J.P. Morgan’s commitment to strengthening its presence in key emerging markets and enhancing its service offerings across Africa.
Mukuru, a leading fintech company, has made a significant stride in Malawi with the launch of its new Mukuru Wallet. Designed to meet the increasing demand for a digital store of value, the Mukuru Wallet is set to transform how cash-dependent citizens manage their finances. This innovative solution aims to provide Malawians with a simple, secure, and efficient way to handle money transfers and financial management, both locally and globally.
Mastercard has unveiled its latest cohort of startups joining the Start Path Emerging Fintech program, showcasing a lineup of 10 cutting-edge companies that are set to make waves in the digital economy. This carefully selected group includes AWorld, Bankingly, FootprintLab, HowGood, Inovat, Lasso Security, Reewild, UrbanFox, Uvicuo, and Vaayu—each bringing a unique approach to solving modern challenges in areas such as sustainability, cybersecurity, digital transformation, and travel. By supporting these innovators, Mastercard aims to drive progress and create a more sustainable, secure, and interconnected world.
In a strategic effort to empower its Commercial and SME clients, NCBA Bank has embarked on a remarkable 12-day market exposure trip to China, taking over 100 business customers to explore one of the world’s most vibrant business environments. This initiative aims to provide participants with firsthand insights into international markets, enabling them to source trading equipment and engage with industry leaders across various sectors, including green energy, manufacturing, and logistics.
