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Moni Rebrands as Rank; Acquires AjoMoney and Zazzau MFB
The Lagos-based firm announced the news this week. This is a major strategic shift. Rank acquired AjoMoney. It also acquired Zazzau Microfinance Bank (MFB). This move expands its services beyond lending. The company will now focus on community-based digital banking. It aims to digitize traditional African savings models. These models include Ajo, Tontines, and ROSCAs. Rank’s […]
Flutterwave and Polygon Labs Partner for Blockchain Payments in Africa
Flutterwave and Polygon Labs are joining forces. They will simplify cross-border payments. African payment leader Flutterwave announced a new partnership. The company chose Polygon Labs for the deal. Polygon PoS is now Flutterwave’s default blockchain. It will power a new cross-border payment product. This multi-year deal is a major update. It represents the largest stablecoin deployment in […]
Mukuru and Jumo Partner to Launch Fast Loans, Expanding Access to Credit in South Africa
The new product, named “Mukuru Fast Loan,” is now available to Mukuru’s extensive customer base in South Africa. The partnership combines Mukuru’s large distribution network and trusted brand with JUMO’s advanced artificial intelligence (AI) technology for credit scoring. The launch directly addresses a critical gap in the South African market: the lack of accessible credit […]
Moniepoint Launches AI Chatbot ‘M’ to Decode Nigeria’s Informal Economy
Moniepoint, a leading business payments and personal banking platform in Nigeria, has introduced an artificial intelligence chatbot called ‘M’ to help people understand the informal economy in clear, conversational language. The launch took place in Abuja during the presentation of the second edition of Nigeria’s Informal Economy Report, with federal officials praising the move and […]
492 Loan Apps Register Amid ₦100M FCCPC Compliance Rule
In October 2025, the FCCPC announced that the number of officially registered digital lenders, commonly known as loan apps, had reached 492. This increase follows the implementation of the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, which came into effect on July 21, 2025. Under these regulations, all digital lenders operating in Nigeria […]
85% of Crypto Investors in Nigeria Earn Below ₦250K, Reveals New Report
The report, titled The State of Crypto Adoption in Nigeria 2025, surveyed over 1,850 individuals across Nigeria, revealing that the majority of the country’s crypto investors are not high-net-worth individuals but are instead young people from lower- to middle-income households. This demographic shift highlights a growing trend where crypto is seen less as an investment for […]
Moniepoint Secures $200M Series C Funding to Expand Across Africa
Moniepoint Inc., one of Africa’s leading fintech companies, has raised $200 million in a Series C funding round, marking a major milestone in its growth trajectory. This funding will help accelerate the company’s expansion across Africa, with particular focus on deepening financial inclusion and reaching the global diaspora. This round builds on Moniepoint’s earlier success, […]
Tunisian Fintech PAYDAY Secures $3 Million in Pre-Seed Funding
PAYDAY Takaful, a promising fintech startup from Tunisia, has closed a $3 million pre-seed funding round. The investment will enable the company to strengthen its digital platform, which provides salary-backed financing and micro-Takaful insurance solutions for employees in North Africa. The funding round was led by UGFS North Africa and saw participation from notable investors, […]
Chari Raises $12M Series A and Secures Morocco’s First VC-Backed Payment Institution Licence
Chari, a Moroccan fintech and e-commerce platform, has completed a $12 million Series A funding round while simultaneously becoming the first venture capital-backed startup in Morocco to receive a payment institution licence from Bank Al-Maghrib, the country’s central bank. The dual achievement marks a transformative moment for Morocco’s fintech ecosystem and positions Chari as a […]
Kenya Passes Landmark Virtual Asset Bill to Regulate Cryptocurrency Market
On October 15, 2025, Kenya’s National Assembly approved the Virtual Asset Service Providers (VASP) Bill. This is a pioneering regulation that could position Kenya as a leader in Africa’s digital finance landscape. The bill, which now awaits President William Ruto’s assent, aims to create a framework for stablecoins, crypto exchanges, and digital asset platforms, introducing […]