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Sanlam Launches Fintech Cluster to Accelerate Financial Inclusion Across Africa
Sanlam, Africa’s largest non-banking financial services group, has launched Sanlam Fintech, a business cluster that will focus on expanding the group’s existing fintech offering and ensuring that all aspects…
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Nigerian Fintech Startups Risevest and Chaka Merge, Reflecting Consolidation Trend in Africa
Nigerian fintech startups Risevest and Chaka have merged, continuing the trend of mergers and acquisitions (M&A) in Africa’s fintech space. The deal comes at a time when the African…
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CBK Joins Pan-African Payments System, Boosting Intra-African Trade
The Central Bank of Kenya (CBK) has officially joined the Pan African Payments and Settlement System (PAPSS), enabling firms in Kenya to execute all trade and financial transactions with…
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Enza Capital: A Venture Capital Firm with a Founder-First Approach
Enza Capital, a Nairobi-based venture capital firm, has closed $58 million across two funds. The firm focuses on investing in early-stage startups that are “organizing the offline online” and…
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Lipa Later secures $3.4m debt funding to expand its fintech offerings
Kenyan fintech startup Lipa Later has raised KES500 million (US$3.4 million) in a privately-placed debt issuance to help it expand its offerings. The company, which was founded in 2018,…
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Kua Ventures, a Kenyan Impact Investment Firm, Invests Over $1 Million in SMEs
Kua Ventures, an impact investment firm based in Kenya, has invested more than $1 million (Ksh. 145 million) in SMEs across the country. The milestone follows four rounds of…
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Revio, a South African fintech, secures $5.2M in seed funding to streamline payments
Africa’s payment landscape is fragmented, with many operators offering different payment options. This leads to payment failures due to invalid cards, inactive accounts, and high dispute rates. Revio, a…
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Google Selects Two Kenyan Startups for AI for Health Program
Two Kenyan startups, Zuri Health and izola, have been selected to participate in the Google for Startups Growth Academy, AI for Health program. The program is designed to support…
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Kenyan Logistics Startup Sendy Ceases Operations After Failing to Raise Sufficient Funding
Kenyan Logistics Startup Sendy Enters Administration Kenyan logistics startup Sendy has gone into administration, appointing Peter Kahi of PKF Consulting Limited to oversee its operations. This comes after the…
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ANKA, Africa’s Leading E-Commerce Platform for Artisans, Receives $3.4 Million Investment from IFC to Scale Operations
IFC, a member of the World Bank Group, has announced a $3.4 million equity investment in ANKA, a leading African e-commerce platform for artisans and merchants. The funding will…
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