Afridigest Fintech Review: Consolidation in Nigerian wealthtech [No paywall]

Week 39 2023: Sep 24-30

Afridigest is your intelligent guide to Africa’s tech ecosystem. The Fintech Review is a weekly recap of what matters in African fintech.

➜ This Fintech Review usually has a paywall, but today’s edition is open to all readers as we enter Q4. Let’s close out the year strong, friends. (P.S. If you’re a free reader, invest in yourself and become a paid subscriber today.)

On to the week’s fintech highlights:

• Five new fintech fundraises were announced across Africa this week.

• News of the week: Nigerian wealth management platform Rise acquired Nigerian trading & investment platform Chaka. Sanlam, Africa's largest non-banking financial services company, formally launched Sanlam Fintech. MTN South Africa made a further push into the country's rapidly growing fintech space.

• Companies appearing in today’s Fintech Review: Revio, Root, Oval, Payfi, Jamii.One, Rise, Chaka, Tunzaa, Ukheshe, Klasha, VALR, Sanlam, Xian Global and others.

• Executives appearing: Rise’s Eke Urum, Chaka’s Tosin Osibodu,…