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The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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Revolut is coming to Africa (TWIF - Africa 03/10)

Revolut is coming to Africa (TWIF - Africa 03/10)
Stablecoins in emerging markets; Prior year and future expected stablecoin usage

Hi Fintech friends 👋,

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

  • Two funding deals were announced. 
  • The $45 Billion startup, world's fourth-largest digital bank, confirmed that it is coming to Africa.
  • African earlier stage investor raised $43 Million to invest in seed and Series A startups. 
  • Nigerian fintech resummed issuance of debit cards in partnership with Verve.
  • Two of Nigeria’s biggest payment companies have each partnered with AfriGo to bring contactless payments to Nigeria.
  • Nigeria based blockchain startup hit $658 Million in transactions as Nigerian banks turn to blockchain.

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💸Fundraise and Exits

  • Egyptian fintech startup Basata bought additional stake in Jordan’s MadfoatCom.
Share of monthly cryptocurrency value sent by Sub-Saharan Africa by asset;Jul 2022 - Jun 2023
  • Nigerian StableCoin Startup, IvoryPay, Secured Investment From Hedera after processing over $80 Million From Over 8K Merchants.

💰 Venture Funds

  • LoftyInc Capital raised $43 Million to invest in seed and Series A startups. 
Top African countries by start-up funding
  • Antler VC entered Nigeria to back startup ideas with a $100K startup.

🚀 Partnerships & Product Launches

  • Carbon resumed issuance of debit cards in partnership with Verve.
Just 3% of Africans own 𝘤𝘳𝘦𝘥𝘪𝘵 cards — the lowest credit card penetration rate of any region worldwide

👔 Leadership Lineup

  • Brass planned Q1 2025 relaunch as co-founders receive no compensation after Paystack led acquisition.
Brass acquisition

📰 News of the Week

  • PalmPay and Moniepoint partnered with AfriGO to introduce contactless payments in Nigeria.
Ecommerce payment Providers in Nigeria, 2023

PalmPay, the Nigerian fintech with over 35 million users, has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria.

Nigerian fintech unicorn Moniepoint has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria.

👀 Eye Openers

  • Revolut, the $45 Billion startup, world’s fourth-largest digital bank, has confirmed that it is interested in the South African market.

📑 Read of the week

📖 Other News, Reads, and Media

  • Zone hit $658 Million in transactions as Nigerian banks turn to blockchain.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

  • Lessons from processing cross-border payments; Interview with Justin Ziegler, Co-founder of Juicyway.

🦉 Tweet of the Week

🎯 Fintech Opportunities

  • Applications open for 4th Visa Africa Fintech Accelerator. Apply 

Made in Tanzania 🇹🇿 with 💚

👍🏽👎🏽  Did you enjoy this edition of This Week In Fintech Africa? Please share your feedback with me on Twitter or LinkedIn .