Hi Fintech friends 👋,

Tomorrow we gather in Nairobi for Stable Salons Africa

Excited to see you all and start the conversations.

Supported by Binance, Checker and Utila. Join us:

Stable Salons - Nairobi · Luma

🌍 Stable Salons Nairobi An intimate evening of conversation with industry stakeholders exploring stablecoins, treasury infrastructure & money movement.…

This Week in Fintech

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

• Nigerian Fintech acquired a licensed Canadian payments firm.
• Fintechs asked the Central Bank for a growth fund.
• South African Fintech hit its first profit since 2022.

Join an online community of TWIF Premium members and enjoy exclusive fintech conversations, private events, roundtable discussions, networking, job matching, and premium industry insight - all in one place.

Community

📱To join our Slack with 10,000+ other fintech enthusiasts, sign up below. This Week in Fintech has two online communities: * TWIF Premium for fintech founders, investors, and operators. * Curated membership * (Note: you can sign up for the Premium Slack below; this is separate from our members-only Premium Newsletter, which

This Week in FintechSabrina Baxter

💸Fundraise and Exits

• Nomba acquired a licensed Canadian payments firm to power Africa and Canada trade.
• Lula raised $21 Million to serve more MSMEs.

💰 Venture Funds

• Nigerian Fintechs asked the Central Bank for a growth fund.

🚀 Partnerships & Product Launches

• Lemfi launched Remittance services in Australia.

👔 Leadership Lineup

• Cellulant picked Michael Muriuki as its chief product and technology officer.

📰 News of the Week

• South Africa’s Lesaka hit its first profit since 2022.

The company reported a net profit of $3.6 Million in the second quarter of its 2026 financial year, compared with a loss of $34.7 Million a year earlier.

Lesaka’s merchant unit, which serves small and mid-sized businesses through its Kazang and Connect brands, saw revenue fall by 13% year-on-year to $131.9 Million. While the merchant base grew 8% year-on-year, average revenue per merchant fell 10%. 

👀 Eye Openers

• The New M&A Fintech Phase.

Fintechs are acquiring banks; Selcom acquired Access Microfinance Bank in Tanzania, Paystack acquired Ladder Microfinance Bank in Nigeria.

They are also acquiring each other; Flutterwave acquiring Mono.

A new pattern is emerging; 

Telecoms are eyeing fintech; MTN is actively exploring acquisitions in payments, lending, and remittances.

📑 Read of the week

• African startups have a number problem. (The condia)

📖 Other News, Reads, and Media

• Digital payment fraud dropped by 51% as Nigerian fintechs fight with AI.

🪙 Stablecoin Watch

• South African Reserve Bank Governor warned about the risk of the increasing popularity of stablecoins.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Interview with Olu Akanmu who has navigated the "commercial battlefield" at the highest levels of telcos, Tier-1 banks, and scale-up fintechs (OPay).

🦉 Tweet of the Week

Made in Tanzania 🇹🇿 with 💚

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