REGULATION | Bank of Ghana to Intensify Crackdown on Illegal Lending Apps
Kwame Oppong, Head of Fintech and Innovation at the Bank of Ghana (BoG), has announced that the central bank of Ghana is ramping up its efforts to combat illegal lending…
REALITY CHECK | Nigerian Banks and Fintechs Remain Wary of Crypto Despite New Licenses
On August 29 2024, the Nigeria’s Securities and Exchange Commission (SEC Nigeria) issued the country’s first crypto licenses to 2 local crypto exchanges and 5 digital aset offering platforms. This…
REGULATION | State of Kansas, U.S., Thwarts Attempt by Nigerian Crypto Scammer to Defraud Resident Attracting Over $50,000 in Civil Penalties
The office of the Attorney General in the state of Kansas, United States, says it successfully thwarted an attempt by Bimbo Toyin Akinyemi of Nigeria to defraud a local of…
REGULATION | The South Africa Revenue Service (SARS) Begins Issuing Tax Notices to Crypto Traders
The South Africa Revenue Service (SARS) is now issuing tax notices to crypto traders. According to officers at local law firm, Webber Wentzel, these notices are based on information obtained…
LAUNCH | The Central Bank of West African States (BCEAO) Launches an Instant Payment System – Over 90 Financial Institutions Onboarded
In a significant leap to open up financial services to the public in 8 West African nations, approximately 90 banks and financial institutions have adopted a groundbreaking instant payment system…
EXPERT OPINION | ‘Africa is the Most Exciting Market in the World and We’re Only at Day One,’ Says Lexi, General Partner, Norrsken22 Tech Growth Fund
In the ever-evolving world of venture capital, few stories are as compelling as Lexi Novitske’s journey into the African tech landscape. As the General Partner of Norrsken22, an African tech…
FUNDING | African Climate Tech Startups Captured 45% of the Total Funding, Surpassing Fintech, in H1 2024
In recent years, the venture capital (VC) scene in Africa has seen a notable shift, particularly in the fields of agritech and climate tech. The journey of Rhea, a Kenyan…
NORTH AFRICA | The Central Bank of Egypt Reports First Quarter Profit in 7 Years in Q2 2024
The Central Bank of Egypt (CBE) has announced a notable turn-around with a net profit of Egyptian Pounds (EGP) 22.834 billion (~$470.7 million) for June 2024, marking its first profitable…
FUNDING | African Startups Funding Down ~4x in August 2024 – The Second Slowest Month in 4 Years
Startups in Africa announced $56 million in funding in August 2024, down from $443 million in July 2024 ~8x less) and $234 million in August 2023 (~4x less), making August…
LAUNCH | Bank of Tanzania Launches the Fintech Regulatory Sandbox
In a landmark move to support financial technology innovation, the Bank of Tanzania has officially launched its Fintech Regulatory Sandbox, a significant development for the country’s startup ecosystem. This initiative…
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