Hi Fintech friends 👋,

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

• South African Fintech secured $10 Million to expand SME lending.
• Nigeria’s Fintech darling suspended its co-founder over sexual misconduct allegations circulating online.
• A $552 Million valued Nigerian Bank started investing in Startups.
• Two African Central Banks signed Africa’s first fintech licence-passporting agreement.

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This Week in FintechSabrina Baxter

💸Fundraise and Exits

• Lula secured $10 Million IFC loan to expand SME lending in South Africa.

💰 Venture Funds

• Wema Bank, a $552 Million valued Nigerian Bank started investing in startups.

🚀 Partnerships & Product Launches

• LemFi launched Instant Access Savings Accounts to help UK immigrants grow their savings and build financial freedom.

👔 Leadership Lineup

• Paystack suspended co-founder, Ezra Olubi, over sexual misconduct allegations circulating online.

📰 News of the Week

• YC-backed Moni rebranded as Rank, backs its ambition with a bank acquisition.

The fintech acquired AjoMoney, a group savings platform, and Zazzau Microfinance Bank (MFB), part of its effort to offer a range of regulated financial services beyond savings, including payments and investment products.

👀 Eye Openers

• List of 88 licensed remittance companies in Ethiopia 2025.

📑 Read of the week

• New Era: Send Now, Pay Later. (Mambo Brief) 

📖 Other News, Reads, and Media

• The Bank of Ghana and The National Bank of Rwanda signed Africa’s first fintech licence-passporting agreement.

🪙 Stablecoin Watch

Insights & Resources;

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Meet the people who Built Nigeria's Biggest Tech Brands  But You Hardly Hear Their Names.

🦉 Tweet of the Week

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