Hi Fintech friends 👋,

Meet Us at Stable Salons Africa – Kigali, Tonight

Last month we hosted a successful Stable Salons Africa in Nairobi. You can view the photos here.

Today we are hosting in Kigali for the Kigali Edition.

Expect curated, operator focused conversations on stablecoins, treasury management, and cross border liquidity.

Supported by Binance and Utila. Join us.

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

  • Four funding deals were announced.

  • Africa’s biggest mobile money platform hit 40 million users in Kenya alone.

  • South Africa’s digital bank ditched Pick n Pay kiosks for mall based customer hubs.

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💸Fundraise and Exits

  • South African payment routing startup NjiaPay raised a $2.1 Million seed round.

  • Orca Fraud raised $2.35M to scale real-time fraud intelligence across emerging markets.

  • Sava raised undisclosed funding from Equitable Ventures.

💰 Venture Funds

  • Fewer exits and tighter capital forced African angels to push for discipline.

  • Saviu II venture capital fund raised €6.5 Million from AFDB to support early-stage technology start-ups in West and Central Africa.

🚀 Partnerships & Product Launches

  • Nomba partnered with Volume to enable Nigerian businesses to collect British Pound (GBP) directly from UK bank accounts.

👔 Leadership Lineup

  • Nigerian fintech Rank appointed Lucky Djebah as Executive Director for investments.

📰 News of the Week

  • M-PESA hit 40 million active customers in Kenya after 19 years of operation.

M-Pesa’s largest market is Kenya, where it was launched in 2007 by Safaricom and Vodafone. The mobile money platform has expanded significantly across Africa, with major operations in Ethiopia, Tanzania, Mozambique, the Democratic Republic of Congo, Egypt, Ghana, and Lesotho. It has also expanded beyond Africa, with a presence in India, Albania, and Romania.

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👀 Eye Openers

  • 69% of Africa’s biometric fintech fraud is now AI-generated.

📑 Read of the week

  • Smartphones, Smarter Lending. (MamboBrief).

    📖 Other News, Reads, and Media

  • Airtel’s SmartCash hit 3 million users in Nigeria.

  • TymeBank ditched Pick n Pay kiosks for mall based customer hubs.

    🪙 Stablecoin Watch

  • Polytope Labs planned to launch stablecoin infrastructure for FX settlement.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

  • Interview with Stone Atwine, founder and CEO of Eversend, on their journey from a consumer cross border fintech to a stablecoin B2B fintech. He argued: why manage 10 different bank accounts and wait days for SWIFT when you can run a continental treasury from a single USDT buffer?

🦉 Tweet of the Week

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