Hi Fintech friends 👋,

Here are the highlights of what happened in African Fintech this week;

• An African Unicorn raised $50 Million in record bond issuance.
• Africa’s cross border fintech won a $1 Million award.
• Nigeria’s soonicorn fntech expanded in four markets.
• Africa’s biggest mobile money to receive $300 Million investment annually.

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This Week in FintechSabrina Baxter

💸Fundraise and Exits

• Egypt’s MNT-Halan raised $50 Million in record bond issuance.

• Verto won the $1Million Milken-Motsepe Grand Prize for Transforming Cross-Border Payments in Africa.

💰 Venture Funds

• An investor shared why local capital is important for Africa’s tech ecosystem.

🚀 Partnerships & Product Launches

• PalmPay expanded to 4 African markets after processing 1.35 billion transactions in Q1.
• IDRX partnered with Mansa to unlock faster, seamless cross-border payments.

👔 Leadership Lineup

• Multiplier Effect of Ken Njoroge, Co-founder of Cellulant .

📰 News of the Week

• Safaricom whose profit jumped 11% to $540 million decided to invest over $309.6 million annually into M-Pesa.

“This year we will be going to what we are calling M-Pesa 2.0 which is the next phase of the M-Pesa platform,” Safaricom CEO Peter Ndegwa said.  “It’s about investing for capacity, for functionality, for stability and also for resilience which is about ensuring that customers can always rely on our ecosystem.”

👀 Eye Openers

• “It costs more to send R200 between two local bank accounts than it does to send $1,000,000 across the world using modern payment rails”

📑 Read of the week

• The year African Fintech gets real. (Fastcompany)

📖 Other News, Reads, and Media

• Jumia narrowed losses to $16.5 million in Q1 ’25 as currency problems pressured revenues.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Remittances, Regulation and Reality Checks with LemFi co-founder and CEO Ridwan Olalere.

🦉 Tweet of the Week

🎯 Fintech Opportunities

• This Week in Fintech is hiring for a Senior Marketing Manager. If you are interested or know of anyone who might be a good fit, get in touch!

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👍🏽👎🏽  Did you enjoy this edition of This Week In Fintech Africa? Please share your feedback with me on Twitter or LinkedIn .