Tag Archives: fintech

fintech: Latest News

  • South African Fintech Company Receives $24M Investment Earmarked For Expansion

    South African fintech company - JUMO software developers in Kenya. Photo - iAfrikan By Peter Pedroncelli, 5:43 am

    South African fintech company JUMO has secured a $24 million loan facility which will be dedicated to the firm’s expansion into Africa and Asia. The substantial investment was provided by London-based Gemcorp Capital along with Finnish development finance company Finnfund, which contributed $6 million of the $24 million. The financial services platform for emerging markets, analyzes user data collected from mobile phones and offers tailored financial products based on that analysis.

  • Village Capital And PayPal Launch 2018 Investment-Readiness Program For African Fintech Startups

    African fintech startups - Peer selected startups in the 2017 Village Capital Fintech Africa program, PiggybankNG and Olivine Technologies. Photo - Village Capital By Peter Pedroncelli, 6:37 am AFKI Original

    African fintech startups have yet another opportunity to strive towards sustainability with the launch of the Village Capital Fintech Africa 2018 program, in collaboration with PayPal. The U.S.-based venture capital fund’s annual investment-readiness program, which is geared towards supporting African startups focused on financial health, is looking to fill a cohort of 10-12 companies from Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, and Uganda.

  • South African Bank FNB Recognized As Africa’s Most Innovative Bank

    Dot FNB branches - First National Bank By Peter Pedroncelli, 6:17 am

    Major South African banking institution, First National Bank (FNB), has been named as Africa’s most innovative bank at the 2017 African FinTech Awards for the second consecutive year. The bank was awarded the The Most Innovative African Bank accolade at this year’s African FinTech Awards in Johannesburg, recognizing FNB as a bank that is at the forefront of innovation.

  • 10 Fintech And M-Commerce Apps In Contention For AppsAfrica.com Awards 2017

    Fintech and m-commerce apps By Peter Pedroncelli, 1:15 am AFKI Original

    The shortlist of finalists for the Appsafrica.com Innovation Awards 2017 was recently announced, with a number of apps considered in the fintech and m-commerce categories. The awards celebrate the best in mobile and tech ventures from across Africa, with various categories included to recognize mobile apps that impact numerous industries and sectors. The annual awards attracted over 300 submissions from across 31 countries, with the winners announced at the awards party in Cape Town on Nov. 6.

  • South African Fintech Adoption Expected To Be No. 3 In The World

    Fintech adoption rates expected to soar in South Africa. By Peter Pedroncelli, 6:40 am

    South Africa’s fintech adoption rate is expected to experience a surge in the near future, with the country’s uptake of fintech services set to be greater than the global average. Africa’s most industrialised economy is forecast to enjoy a future fintech adoption rate of around 71 percent in the coming years, which is far higher than the average global growth rate of 52 percent, according to global accounting and consulting firm Ernst and Young.

  • Africa Responding To Need For Dedicated Skills In The Fintech Space

    Institutions in Africa are now offering programs that teach fintech skills. Photo - Student Brands - Fintech space By Tom Jackson, 1:52 am AFKI Original

    Finding skilled workers is a major barrier to the development of Africa’s fintech space, which is catering to a large unbanked African population through mobile and other avenues, but the market is slowly responding. The University of Cape Town recently became the first university in Africa to offer a specialized fintech degree, and other ed-tech and related startups have come to the party in an effort to fill the fintech skills gap.

  • University Of Cape Town Becomes The First African College To Offer Fintech Degree

    Fintech Degree By Peter Pedroncelli, 7:22 am

    The University of Cape Town in South Africa has become the first tertiary education institution in Africa to offer a specialized fintech degree, which will be available through the university from January 2018. The degree has been designed to provide students with the necessary skills and practical knowledge to acquire or further a career within the modern financial services sector, which is currently experiencing unprecedented growth.

  • African Fintech Solutions Succeed Due To Nonexistent Banking Infrastructure

    M-Pesa is a fintech success story in Africa. Photo - Quartz By Tom Jackson, 6:13 am AFKI Original

    While fintech solutions in other parts of the world have not produced consistent success, Africa’s lack of banking penetration has opened up possibilities for fintech startups to serve a mobile-first population. This track record of innovation is resulting in increased funding for African fintech startups, while of all the sub-sectors within Africa’s tech space it has also proven the most likely in terms of exits.

  • Barclays Accelerator Supporting Fintech Startups That Solve African Problems

    Fintech startups - Announcing the Barclays Accelerator, Powered by Techstars Cape Town Class of 2017. Photo - Techstars By Peter Pedroncelli, 8:56 am

    In its second year, the Barclays Accelerator is dedicating resources and efforts towards backing fintech startups that are attempting to solve financial and banking issues within the African context. The Barclays Accelerator, powered by small and medium business empowerment organization Techstars, is a startup program of networking, mentoring and development, aimed at supporting breakthrough financial technology innovations that are focused on Africa.

  • African Fintech Startups Have Secured $92M In Investment Since 2015

    African fintech startups are thriving throughout the continent. Photo: Mastercard By Peter Pedroncelli, 5:32 am

    African fintech startups continue to be an example to similar entities in other sectors, attracting substantial investment while disrupting the financial services market on the continent. The innovative solutions that fintech enterprises are producing have attracted the attention of banks and investors, in the hope that these financial disruptors become the next PayPal or similar concept in Africa. The last two years have seen a sharp increase in the number of businesses created in this sector, with 301 African fintech startups identified across 20 countries on the continent.

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