FinancialInclusionChallenge’s Post

The FinTech industry in South Africa has emerged as a dynamic and innovative sector within the broader financial services landscape. This industry has not only transformed traditional banking and finance but also opened new avenues for financial inclusion and economic growth. 📚https://zurl.co/PI1V #fintech #financialservices #africa

The FinTech industry in South Africa has emerged as a dynamic and innovative sector within the broader financial services landscape. This industry has not only transformed traditional banking and finance but also opened new avenues for financial inclusion and economic growth. 📚https://zurl.co/PI1V #fintech #financialservices #africa

The FinTech industry in South Africa has emerged as a dynamic and innovative sector within the broader financial services landscape. This industry has not only transformed traditional banking and finance but also opened new avenues for financial inclusion and economic growth. 📚https://zurl.co/PI1V #fintech #financialservices #africa

What to make of ANEXT Bank? On the one hand, Ant Group has been focused for years now on expanding its presence in Southeast Asia. Its Singapore digital bank, which provides multi-currency business accounts, unsecured financing with flexible repayment options, and fixed deposit accounts to SMEs, is a key part of that expansion effort. And Ant has continuously injected large amounts of capital into ANEXT. On the other, from a financial standpoint, ANEXT’s performance remains underwhelming, and it is unclear how large the company’s addressable market is in Singapore. #antgroup #alibaba #fintech https://hubs.li/Q02JZqtF0

The FinTech industry in South Africa has emerged as a dynamic and innovative sector within the broader financial services landscape. This industry has not only transformed traditional banking and finance but also opened new avenues for financial inclusion and economic growth. 📚https://zurl.co/PI1V #fintech #financialservices #africa

African small and medium-sized enterprises (SMEs) are leading the charge toward financial inclusion, breaking down barriers and embracing innovative financial solutions. Their journey isn't just about survival—it's about thriving in a digital economy that opens new doors for growth and prosperity. As SMEs across the continent tap into digital finance, mobile banking, and cross-border payment systems, they are proving that financial inclusion is key to unlocking the full potential of Africa’s entrepreneurial spirit. The momentum is clear: technology is empowering these businesses to overcome traditional obstacles like limited access to credit and high transaction costs. At Verto, we're proud to support this movement by offering tailored cross-border payment and treasury solutions that help businesses in emerging markets grow confidently. The future of African SMEs is bright, and we're excited to be part of their journey. #FinancialInclusion #SMEs #Africa #Fintech #DigitalTransformation #Entrepreneurship

This article is a must read for those trying to innovate around SMEs Credit Access

Salmon Makes a Splash: Philippine Fintech Startup Secures $7 Million Investment Exciting news for financial inclusion in the Philippines! Fintech company Salmon Group Ltd just reeled in a cool $7 million investment from the IFC - International Finance Corporation (IFC), a member of the World Bank Group. This investment is all about making financial services more accessible to Filipinos. Salmon provides loans to those underserved by traditional banks and leverages AI for smarter credit scoring. They even offer loans like "Salmon Credit" which allows users to borrow up to 50,000 pesos! Salmon is also expanding into a full-service bank, with plans to launch new products and services in the second half of 2024. They recently got their license from the Bangko Sentral ng Pilipinas (Central Bank of the Philippines), so get ready for debit cards, deposit accounts, and more! And to further widen their reach, they've partnered with electronic payment provider Electronic Commerce Payments Inc. (ECPay). This means easier bill payments for Filipinos, especially those without a traditional bank account (which is about half of Salmon's customer base!). This is a big win for financial inclusion in the Philippines. What are your thoughts on how fintech can revolutionize banking services in the region? #Fintech #SalmonPH #PH #BankingForAll #Philippines #banking #finance #investment #startup #BusinessBayaniPH #BizBayaniPH #blog #newsupdate #ECPay Full story here. 👇 https://lnkd.in/gjcHGV3X

Moniepoint Group, Africa’s fastest-growing fintech company, has successfully secured US$110 million in equity financing to support the aspirations of millions of businesses and their customers across Africa and the diaspora. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint, formerly known as TeamApt, has established a remarkable track record in serving customers throughout Africa. Initially, the company focused on providing infrastructure and payment solutions for banks and financial institutions. Over time, Moniepoint has evolved into Nigeria’s leading business banking provider, trusted by millions of businesses. Each month, Moniepoint processes over 800 million transactions, with a monthly total value exceeding US$17 billion, all while maintaining profitability. The Series C investment round was led by Development Partners International (DPI)’s African Development Partners (ADP) III fund, a premier fund focused on Africa. Other new investors include Google’s Africa Investment Fund and Verod Capital, a leading African private equity firm. Existing investor Lightrock, a global impact firm, also participated in the round. This new capital injection follows a successful period for Moniepoint, marked by significant operational and financial milestones. Click the link to read more https://lnkd.in/dect88pj #innovationvillage #moniepoint #investment #funding #seriesc #businesses #africabusiness #nigeria #nigeriaeconomy #techtrends #technews #techpreneur 

The company has now secured an undisclosed amount of funding from Goodwell Investments via its uMunthu II fund, a EUR150 million (US$167 million) fund providing venture capital to impact-driven companies throughout Africa. The funding will enable Agent Banking Company to pursue ambitious goals for growth, including expanding its client base, increasing agent coverage, and deploying new services. The Agent Banking Company of Uganda, a technology-focused financial services firm, has secured funding from impact investor Goodwell Investments. Founded in 2017, the company aims to enhance access to quality financial services in Uganda. Currently serving 18 financial institutions and 5 payments providers through 15,000 bank agents, the company is expanding financial inclusion in underserved communities. CEO Richard Jabel highlighted the significant impact of Agent Banking, noting the increased accessibility of formal financial services. With the recent funding from Goodwell Investments' uMunthu II fund, the company plans to propel growth by expanding its client base, agent coverage, and service offerings. Jabel expressed enthusiasm about the partnership, stating, "The investment from Goodwell will be instrumental in enriching our services, enabling access to basic financial services via mobile phones, agents, and merchants. We are committed to transforming the financial services landscape in Uganda and enhancing livelihoods." #FinancialInclusion #ImpactInvestment #FundingNews