Afridigest Fintech Review: Payday's paltry payday
Week 49 2023: Dec 3-9
Afridigest is your intelligent guide to Africa’s tech ecosystem. The Fintech Review is a weekly recap of what matters in African fintech.
On to the week’s fintech highlights:
• Three fintech fundraises were announced this week.
• News of the week: Nigerian neobank Payday was acquired by Bitmama. Last year’s acquisition of Bluewave Insurance by Kenyan insurtech Lami didn’t actually happen & the deal is now dead. And TymeBank CEO Coen Jonker shared some figures: TymeBank is now valued at ~$965M, it has 8.3M customers, ~70% of whom are active on a 30-day basis, it’s acquiring ~200K customers a month, and it does ~23M transactions monthly.
• Companies appearing in today’s Fintech Review: Bitmama, Payday, TymeBank, Lami, Chapa, TerraPay, Kacha, ezra, Capi Money, Pezesha, Kippa, Bloc, Lidya, M-Kopa, YaYa, Flutterwave, and more.
• Executives appearing: FairMoney’s Laurin Nabuko Hainy, Flutterwave’s Olugbenga Agboola, TymeBank’s Coen Jonker, Paga’s Tayo Oviosu, Anthemis Capital’s Ruth Foxe Blader, 500 Global’s Mareme Dieng, EBANX’s Wiza Jalakazi & Juliana Etcheverry, AWS' Nilesh Dusane, BankServAfrica’s Ben Janse van Rensburg, and more.
With that said, let’s get into it!
