SOURCE: Stablecoins: The Emerging Market Story 2024 Report

Hi Fintech friends 👋,

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

  • Nigeria based Unicorn bought an old bank.

  • Tether invested in African Fintech.

  • dlocal announced acquisition of Africa’s Fintech worth about $150 Million.

  • Nigerian Fintech launched Africa’s first stablecoin-backed credit card.

  • Binance executive resigned after a Nigerian detention ordeal.

  • Nigeria’s Soonicorn said to raise a $100 Million Series B round.

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💸Fundraise and Exits

  • Nigeria based Moniepoint acquiredKenya’s23 years old Sumac Microfinance Bank.

  • Shiga Digital secured strategic funding from Tether.

💰 Venture Funds

  • 12 Africa-focused investment firms to know in 2025.

🚀 Partnerships & Product Launches

  • Nigeria’s Kredetelaunched Africa’s first stablecoin-backed credit card.

👔 Leadership Lineup

  • Binance executive Tigran Gambaryan resigned after a Nigerian detention ordeal.

  • Moniepoint’sunicorn round made employees billions of naira.At least two senior employees made $20,000 and $850,000(naira 1.3 Billion).

📰 News of the Week

  • DLocalannounced acquisition of AZA Finance, subject to regulatory approval.

The acquisition gives dLocal access to key African markets where it previously had no presence, including Botswana, Mozambique, and Guinea. The company did not disclose the value of the acquisition, but it was reported the deal valued Aza Finance at about $150 million, citing a person familiar with the matter.

👀 Eye Openers

  • The hard truth about investing in #Africa that nobody talks about.

📑 Read of the week

  • All time, Africa has 10 tech Unicorns: here are the founders (Technext)

📖 Other News, Reads, and Media

  • PalmPaysaid to raise a $100 Million Series B round.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

  • Interview with Dennis Ondeng, the CEO of Kopo Kopo, shared his remarkable journey of building and sustaining a fintech company for over 14 years in Kenya and across Africa.

🦉 Tweet of the Week

❝

You raised $5M for a crypto payment startup “banking the unbanked.”

But 2.7M+ Nigerians hold $198M in crypto,

and still can’t use it to pay for ChatGPT.

In Ghana, 65,000 users hold >$7M,

but they can’t access Twitter Premium, Notion, or Udemy using crypto payments.

This… pic.twitter.com/GIIDLR8rJu— Asaf Nadler (@AsafNadler) June 5, 2025

🎯 Fintech Opportunities

  • East African Fintechs can apply for €100K Grant funding from Developpp.

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 .

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