Afridigest Fintech Review: A merchant acquiring marauder mounts up
Week 2 2024: Jan 7-13
Afridigest is your intelligent guide to tech in Africa. The Fintech Review is a weekly recap of what matters in African fintech.
Here are the week’s highlights:
• Five fintech fundraises were announced across the continent.
• News of the week: Nigerian digital bank Kuda officially entered the country’s merchant acquiring sector with the formal launch of its POS terminals. 75% of the nearly $1 billion in equity raised by African fintechs in 2023 went to just ten companies. And the South African Reserve Bank clarified that retailers in the country aren’t obliged to accept physical cash — despite it being 'legal tender.'
• Companies appearing in today’s Fintech Review: Yellow Card, MTN, Paymob, Illicocash, Monirates, Onboard Wallet, Kuda, Salad Africa, Orange Finances Money Mali, and others.
• Executives appearing: Fawry’s Ashraf Sabry, Seerbit’s Omoniyi Kolade, SOLmate’s Jonathan Holden, Onafriq’s Yohannes Tsehai, GetEquity’s Jude Dike, First Circle Capital’s Selma Ribica, Corniche Growth Advisors’ David Keast, and others.
With that said, let’s get into it!
