Hi Fintech friends 👋,

Here are the highlights of what happened in African Fintech this week;

• Four funding deals were announced. 
• South Africa’s Fintech expanded in Francophone West Africa through acquisition.
• Africa’s most valuable Fintech launched its Remittance platform in Ghana.
• Fintech subsidiary of  Africa’s biggest bank lost $1.2 Million in 2024.
• Kenyan court ordered a Fintech to pay $21,600 over unfair dismissal of former executive.

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This Week in FintechSabrina Baxter

💸Fundraise and Exits

• Ivorian fintech startup Djamo raised $17 Million in equity funding to expand its mobile banking services across Francophone Africa.

• Fuse raised $6.6M to fix a payment problem for companies expanding to MENA.
• Tanzania based Swahilies received $100K in non-dilutive capital to expand financial services to SMEs.

💰 Venture Funds

• African tech funding remains stagnant as 55 startups raised $284 Million in Q1 2025.

🚀 Partnerships & Product Launches

• Flutterwave launched Send App in Ghana.

👔 Leadership Lineup

• Kenyan court ordered Umba to pay $21,600 over unfair dismissal of former executive.

📰 News of the Week

• South Africa’s Peach Payments acquired Francophone West African payments gateway PayDunya.

Peach Payments, a 13-year-old South African payment gateway acquired PayDunya, a payment gateway in Francophone West Africa. This marks a strategic expansion into six new markets for Peach Payments.

The founders of PayDunya bootstrapped the company with €20,000 ($22,000) before turning it into a profitable business. Today, PayDunya employs over 40 people, serves more than 4,000 B2B clients, and processes 70,000 transactions daily.Peach Payments’ CEO Rahul Jain described the acquisition as a natural next step following its €29M / $31 million Series A in late 2023, led by Apis Growth Fund II.

👀 Eye Openers

• Market types in Africa;

📑 Read of the week

• Agency Banking in Nigeria, An interesting Love Story.(Nnanna)
  

📖 Other News, Reads, and Media

• Earnipay laid off staff as it focuses on business lending.
• Stanbic IBTC’s fintech subsidiary Zest lost $1.2 Million in 2024.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Interview with Iyin Aboyeji on how he built two Unicorns before 30.

🦉 Tweet of the Week

🎯 Fintech Opportunities

• Opportunity to connect and network with founders, partners, and investors in the global stablecoin ecosystem. Register now!

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