Africa Fintech Network

1️⃣ Digital Remittances in Southern and Eastern Africa -Digital remittances, enabled by mobile networks, fintech innovations, and supportive government policies, extend beyond financial transactions to drive economic inclusion. - Development of digital infrastructure, innovative financial services, and diaspora engagement are crucial enablers for growth. 2️⃣ PayShap Request - A new payment request feature enhances interbank transactions, enabling instant payment requests across personal, business, and corporate sectors. - Initial participants include African Bank, Capitec, FNB, and others, with broader availability expected in 2025. 3️⃣ AstroPay Multicurrency Wallet - This wallet facilitates secure transactions in multiple currencies for global citizens, addressing international finance challenges for travelers, remote workers, and businesses. - CEO Marc Sacal emphasizes its role in simplifying cross-border transactions and empowering financial control worldwide. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Alex SEA, Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Dr. Andualem Hailu, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

#Africa's financial sector is experiencing a digital revolution, driven by the rapid growth of fintech and digital banking. While this innovation creates significant opportunities, it also heightens cybersecurity risks. A 2024 Interpol report highlights a 23% surge in cyberattacks on African organizations last year, with threats like AI-powered phishing and ransomware jeopardizing financial stability and trust. The trend of prioritizing rapid deployment over robust security exacerbates vulnerabilities. #Globally, payments innovation is focused on embedded payments, cross-border payments, and generative AI, aimed at creating faster, more interconnected systems. Embedded payments reduce friction in online transactions, enhancing user experience and customer retention. Meanwhile, rising cross-border interchange fees by Mastercard and Visa—up to fivefold since 2021—have imposed significant costs on #UK businesses, prompting regulatory scrutiny. The Payment Systems Regulator (PSR) proposes a price cap to address the lack of competition and curb excessive fees. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

Unlock the Future of Finance! In collaboration with Moringa School, the Fintech Mastery Course February cohort is open for registration. Whether you are a student, an entry-level professional, or a seasoned professional, this course is the key to unlocking deep knowledge of fintech. Ready to level up? Register now at: https://lnkd.in/d2dN-XG3 #Fintech #FutureSkills #DigitalBanking #AFIK #Moringaschool #TechAfrica #DigitalFinance #FintechMastery #CareerGrowth Ali Hussein Kassim Christine Kitale Munyi Nthigah Sebie Salim Roy Njoka Rosemary Koech-Kimwatu Leon Kiptum Moringa School Emily Odindo Africa Fintech Network Tanzania Fintech Association (TAFINA) Fintech Association of South Africa (FINASA) Fintech Association Of Nigeria

1️⃣ Mastercard (NYSE:MA): - Continues to innovate and expand its value-added services beyond traditional payment processing. - Faces challenges from new competitors and regulatory changes, but its market position remains strong. 2️⃣ BCP Group & Visa Partnership: - BCP International (BCPI), a subsidiary of Banque Centrale Populaire (BCP) Group, has partnered with Visa to transform the payment ecosystem in Sub-Saharan Africa. - The collaboration strengthens BCP Group's services across its 16 subsidiaries in 14 countries, including Banque Atlantique and BCP Bank Mauritius. 3️⃣ KAST Fintech Platform: - Secured $10 million in seed funding led by #HSG and #Peak XV Partners, with participation from #DST Global and #Goodwater #Capital. - Funds will support product #development, #licensing, #international #expansion, and hiring, positioning KAST for significant growth in the #stablecoin space. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

1️⃣ Billboxx Funding Success: - Nigerian fintech Billboxx secured $1.6M in a pre-seed funding round involving debt and equity from investors like Norrsken Accelerator and Kaleo Ventures. Founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx’s SaaS platform streamlines billing and payment workflows for SMEs, enhancing cash flow management. The funds will be used to expand the platform and support more SMEs in Nigeria. 2️⃣ Card Tokenization in Egypt: - Major Egyptian banks, including the National Bank of Egypt, Banque Misr, and CIB, have activated Apple Pay tokenization services after approval from the Central Bank of Egypt (CBE) in February 2023. This technology enhances payment security and facilitates contactless transactions, aligning with Egypt’s digital transformation agenda. The initiative opens doors for companies like Samsung Pay and fintech firms to introduce similar services. 3️⃣ UK Fintech Stenn's Collapse -UK-based fintech Stenn entered administration after being linked to a U.S. criminal case involving Russian money laundering. HSBC Innovation Bank initiated investigations into suspicious transactions following references to Stenn and its Russian founder, Greg Karpovsky, in the indictments. Once valued at $900M, Stenn faced administration due to lender concerns and reputational damage. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Alex SEA, Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

1️⃣ BCP Group and Mastercard Collaboration: - The BCP Group is leveraging Mastercard Move’s capabilities to enhance secure, traceable, and cost-effective cross-border payments in Africa. This initiative reflects both organizations' commitment to inclusive financial solutions and reducing transaction costs for businesses and individuals. 2️⃣ #Kenya’s Digital and Green Transformation Initiatives: - Kenya launched the Timbuktoo GreenTech Hub and Africa Centre of Competence for Digital and AI Skilling, focusing on accelerating digital transformation and addressing the digital skills gap. Inaugurated by President William Ruto, the projects aim to harness technology for climate change responses and improved public service delivery. 3️⃣ Kameo and Neonomics Partnership: -Swedish platform Kameo is collaborating with Neonomics to integrate Nello Pay, an open banking-powered payment service, for faster, cost-effective, and optimized pay-by-bank transactions. The service also supports recurring payments, real-time tracking, and customer loyalty enhancements. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Alex SEA, Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

Mark Your Calendar for the Inclusive FinTech Forum 2025! Join us from February 24-26, 2025, in #Kigali, #Rwanda, for the #IFF2025, where over 3,000 delegates—including policymakers, investors, FinTech entrepreneurs, and leaders from financial and development institutions—will gather to shape the future of economic inclusion and sustainable development. Engage in high-level dialogues that explore how FinTech innovations can drive global progress. Don’t miss out! Secure your early bird discount today by registering here: https://lnkd.in/dJ4mjv8H Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Alex SEA, Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

1️⃣ Moove and Waymo Partnership: - Nigerian startup Moove partners with Alphabet’s Waymo to manage fully autonomous vehicle fleets in the U.S. - Moove will handle fleet operations, charging, and facilities for Waymo’s electric AVs, starting in Phoenix (2025) and Miami (2026). - Waymo will provide its self-driving technology via the Waymo One app, with Moove ensuring smooth operations. 2️⃣ Bank of Tanzania's FinTech Sandbox: - The Bank of Tanzania has launched a FinTech Regulatory Sandbox to test innovative financial products in a controlled environment. - Applications for the Sandbox will open quarterly starting January 2025, with the first window from January 2–22, 2025. 3️⃣ Vipps Launches iPhone Payment Alternative: - Vipps MobilePay becomes the first company to offer an alternative to Apple Pay on iPhones. - This follows Apple’s agreement with the European Commission to open NFC technology to third-party providers. - Vipps CEO Rune Garborg highlights the long fight to compete with Apple on equal terms. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

1️⃣ Nigeria's Fintech Growth: - In 2024, Nigeria's fintech sector attracted over $2 billion in investments, driving significant economic growth. - Telecommunications and ICT, particularly fintech, played a major role in Nigeria's economic expansion, with ICT's GDP contribution projected to reach 22% by 2025. 2️⃣ Access Holdings' Expansion: - Access Holdings Plc has completed the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited, strengthening its presence in Africa. 4️⃣ MoMo Rwanda Virtual Card Launch: - Mobile Money Rwanda Limited (MoMo Rwanda) introduced a virtual payment solution in partnership with Mastercard and I&M Bank. - The virtual card enables secure international online transactions and supports MTN Group's goal of enhancing digital payment solutions across 13 African countries. Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Deji Ajani, Ph.D. Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Alex SEA, Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association iDEA

Congrats, FITSPA Uganda!