Afridigest Fintech Review: FairMoney's 'unfair' offer to buy Umba
Week 8 2024: Feb 18-24
Afridigest is your intelligent guide to tech in Africa. The Fintech Review is a weekly recap of what matters in African fintech.
On to the week’s highlights:
• One fintech financing transaction (debt/equity) was announced.
• News of the week: Nigerian neobank FairMoney reportedly made an offer for Irish/pan-African digital bank Umba that seems to include a healthy premium. The South African Intergovernmental Fintech Working Group announced that it’s examining stablecoin use cases and might put forth a regulatory response this year. And Nigerian governmental authorities (temporarily?) blocked access to global crypto exchanges in an effort to slow down the rapid depreciation of the Nigeria naira.
• Companies appearing in today’s Fintech Review: Mamamoni, Umba, FairMoney, Kippa, Chipper Cash, Tafweela, Mastercard, Kuda, Opera, Miden, Moniepoint, and others.
• Executives appearing: Network International’s Abhinav Nehra, GSMA’s Rishi Raithatha, Honeycoin’s David Nandwa, Eversend’s Stone Atwine, Paystack’s Hayley Hopwood, Sparkle’s Uzoma Dozie, Oye’s Kevin Mutiso, Mazars' Wiehann Olivier, and others.
With that said, let’s get into it!
