Hi Fintech friends 👋

I’ll be in Lagos, Nigeria from November 14th to 17th 2025 and would love to connect with those building or investing in Fintech - mainly stablecoins. Let’s connect.

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

• The Nigerian government backed a VC in a $64 Million deal
• A VC warned African founders about horrendous cap tables
•  One of Nigeria Telecom’s fintech arm made $91.64 Million in the first nine months of 2025
• A Kenyan fintech was accused of racism in its employee share scheme

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This Week in FintechSabrina Baxter

💸Fundraise and Exits

• YC-backed Chari raised an extension round to expand its fintech push.
• Anda secured $3.4 Million in seed funding for its mobility fintech platform.

💰 Venture Funds

• A VC warned African founders about horrendous cap tables that are killing companies right from the start.

🚀 Partnerships & Product Launches

• The Central Bank of Nepal approved LemFi partnership with Esewa to operate remittance services.
• Mukuru partnered with JUMO to offer instant loans on Whatsapp. 

👔 Leadership Lineup

• Revolut appointed Yacine Faqir as CEO to lead Moroccan expansion.
• A former employee accused M-KOPA of Racism in Employee Share Scheme.

📰 News of the Week

• Ventures Platform secured $64 Million in first close backed by the Nigerian government and more reputable investors.

Ventures Platform portfolio includes Visa-backed unicorn Moniepoint and Stripe-owned Paystack. The VC welcomed several new and existing LPs, including the International Finance Corporation (IFC), Standard Bank, British International Investment (BII), and Proparco (through its EU-backed Choose Africa VC program). Others include AfricaGrow and Egypt’s Micro, Small & Medium Enterprises Development Agency (MSMEDA). With this fund, the firm said it will also start investing in series A deals.

👀 Eye Openers

• M-PESA moved $155.5B, earned $677M, and served 2.3M+ merchants, while Fuliza lent $4.8B with full repayment; making Safaricom’s fintech ecosystem its strongest competitive moat.

📑 Read of the week

• Africa's Consumer Remittance Startups Are Suddenly Going B2B. (Mambo Brief)

📖 Other News, Reads, and Media

• MTN Nigeria’s fintech arm made $91.64 Million in the first nine months of 2025, but mostly on the back of airtime lending (Xtratime). 

🪙 Stablecoin Watch

News;

• Ghana banned Banks from Crypto and required User Data Sharing.

Insights & Resources;

• It took the eNaira 28 months to hit $18 Million but cNGN, a Naira-pegged stablecoin is doing that in 9 months. (The Condia)

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Interview with CEO of Weaver Fintech on how to build a lending business for a market traditional banks ignore.

🦉 Tweet of the Week

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