Onchain Payments Landscape - Africa
Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
Egyptian Fintech raised $15.7 Million to expand investment access in MENA.
A new Fintech fund was launched to back African founders.
Owner of Africa’s soonicorn launched a standalone stablecoin app for Africans.
Nigerian bank launched 46,000 POS to compete with Fintechs.
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💸Fundraise and Exits
Egyptian Fintech Thndrraised $15.7 Million to expand investment access in MENA.
💰 Venture Funds
Lavawas launched to back exceptional founders building the financial plumbing and trust tools for the African market.
🚀 Partnerships & Product Launches
OPay backer, Operalaunched a standalone stablecoin app for Africans.
👔 Leadership Lineup
Meagan Rabe got promoted to Vice President: Merchant Services, Acquiring and Fintech (SSA) at Visa.
📰 News of the Week
Fintechs dominated the list of 6 Nigerian fastest growing companies.
Six Nigerian startups—Moniepoint, OmniRetail, PalmPay, Termii, Remedial Health, and Paga have been listed on the Financial Times’ 2024 ranking of Africa’s Fastest-Growing Companies, which features 130 high-growth firms across the continent.
👀 Eye Openers
Revenues of Africa's fastest-growing tech companies in 2023, per the FT.
📑 Read of the week
“I didn’t know”: The Buy Now Pay Later boom that’s backfiring in rural Kenya. (Techcabal)
📖 Other News, Reads, and Media
UBA eyed the small business market with massive pos terminal launch.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Stablecoins in Africa: Hype or the Future of Payments? Interview with Eytan Messika (Nilos) and Nicolai Eddy (Nala & Rafiki) to unpack stablecoins in the African context-from FX innovation and liquidity provisioning to the regulatory frictions shaping adoption.
🦉 Tweet of the Week
You raised a $7M seed from Silicon Valley VCs.
You hired a KOL agency in Dubai.
But your users, they’re in Lagos, Manila, São Paulo, Accra, and Jakarta.
Still think you know your market or should I let you in on a secret that’s gonna determine your success?
If you’re a… pic.twitter.com/6tESAMGhHu— Asaf Nadler (@AsafNadler) May 16, 2025
🎯 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!
Made in Tanzania 🇹🇿 with 💚
