BitKE

Nigerian fintech Raenest has raised $11 million in Series A funding to expand its services across Africa and beyond. Founded in 2022, it facilitates international payments and multi-currency management for over 700,000 users and 300 businesses.

MNT-Halan, an Egyptian fintech, raised $157.4 million in funding, led by the IFC, to support its expansion. Founded in 2018, it has grown significantly, serving over seven million users and disbursing $4.4 billion in loans, aiming to revolutionize financial services beyond Egypt.

Ivorian fintech, Daba Finance, was crowned grand winner of the 2024 Ecobank Fintech Challenge Winner, taking home $50,000, Ecobank said.

“Winning this challenge propels our mission to make investing and wealth building opportunities available for all. With Ecobank as our partner, we are

Ten startups will compete in the Latitude59 Africa final for a chance to win EUR 1 million. The finalists, selected from 382 applications, will pitch on November 28, showcasing a shift toward agriculture and sustainability innovations in Kenya.

Africa will implement the Pan African Payment and Settlement System (PAPSS) by February 2024, enabling transactions in local currencies without relying on the U.S. dollar. Kenya will host the headquarters, promoting regional trade and integration.

HoneyCoin, a Kenyan Web3 super app, partners with MYKOBO to launch in Europe, allowing users in the EU to easily manage digital Euros across 140 countries, excluding sanctioned territories.

Peach Payments has partnered with Float to offer merchants an interest-free installment option at checkout, enhancing online shopping. Float uses existing credit cards for payment flexibility, benefiting both consumers and retailers with increased sales and improved financial management.

Kotani Pay is expanding its crypto on-ramp and off-ramp services into Rwanda and Uganda, enhancing access to blockchain via USSD for local businesses and users. This move aims to simplify crypto- fiat exchanges and support fintech growth in these markets.

VALR, a crypto exchange in South Africa, has received Category I and II licenses from the FSCA, making it one of the first regulated crypto asset platforms in the country. This approval enhances customer protection and regulatory compliance, promoting trust in the crypto industry.

Nigerian fintech startup Opay has seen a 30% increase in valuation, reaching $2.7 billion since its 2021 Series C funding round. Its services and agent banking model significantly boosted its user base and revenue in 2023, aided by a currency shortage in Nigeria.