Eight years after entering Nigeria’s fast-changing fintech market, OPay has grown from a mobile payments challenger into one of the country’s most visible digital financial services platforms. Its anniversary comes as Nigeria’s financial ecosystem continues shifting toward mobile-first payments, digital banking and greater access to formal financial services. OPay began operations in Nigeria in 2018,…

Cross-border fintech LemFi has appointed Dr Haydar Daudu as its Head of Regulatory Affairs and Policy for West Africa, adding senior regulatory expertise as the company expands its financial services across the region. Daudu’s appointment comes as LemFi moves beyond its original focus on remittances and builds a broader financial platform for people who live…

Nigeria’s digital economy is creating a new category of work: small, task-based jobs that allow people to earn money by completing specific activities online rather than taking on a traditional full-time role. These platforms sit between freelancing and casual digital work. Instead of bidding for long-term projects or building a professional portfolio, users can complete…

Egyptian digital payments company eFinance is expanding deeper into financial services with a proposed acquisition of Tamweely Financial Services, a move that would take the company beyond payment infrastructure and into regulated lending for micro, small and medium-sized enterprises. eFinance has received regulatory clearance to proceed with the acquisition of approximately 99.32% of Tamweely, according…

KCB Group is set to acquire a 22.23% stake in digital payments company Pesapal, giving the Kenyan banking group an indirect interest in Pesapal’s Tanzanian operations and adding another major fintech investment to its regional expansion strategy. The stake was disclosed by Tanzania’s Fair Competition Commission (FCC) as it reviews the proposed transaction. KCB had…

Kenya is proposing significantly different minimum capital requirements for payment companies under a new National Payment System Bill, with the largest requirement reaching KSh250 million, or roughly $1.93 million. The proposal is part of a wider effort to modernise regulation of the country’s fast-growing digital payments industry. The National Treasury and Central Bank of Kenya…