Motito’s Post

Mercury, a fintech popular within the Nigerian start-up ecosystem, is terminating accounts of users in several African countries, including Nigeria. This situation, while challenging, reaffirms the need for local alternatives, providing reassurance to Nigerian and African start-ups about the future of their fintech landscape. As a payment infrastructure fintech, Fincra is focused on building the infrastructure to ensure that Africans and businesses across the continent can access global banking solutions that connect them to the global economy. Read more here: https://lnkd.in/dqpJVCx2 #Fintech #Africa #NigerianStartups #GlobalEconomy

Many reactions have followed Mercury’s latest restrictions, with many suggesting that the fintech company has chosen to reduce investments in ensuring compliance in Africa because these costs outweigh the revenue it earns from banking users in the region. Others believe that local alternatives are the best bets for African start-ups to continue enjoying seamless banking in foreign currencies, which is crucial for attracting and handling foreign investment. At Fincra, we are focused on building a global payment system that will ensure Africans and businesses across the continent can access global banking solutions that will connect them to the global economy. Read more 👉🏾https://lnkd.in/gBfC7Vhc

With their innovative and sometimes disruptive solutions, fintech platforms like Opay, Moneypoint, and Palmpay have penetrated deeply into the informal sector, bringing millions of unbanked individuals and merchants into the financial ecosystem. However, despite their rapid expansion and convenience, a significant segment remains skeptical about entrusting their financial livelihood to these digital platforms. Many still worry that these digital 'banks' could disappear without a trace, after all, there is no physical branch to go to, in case of problems. A lot of the fears of most Africans stem from a history of seasonal 'wonder banks' and Ponzi schemes of all kinds that have plagued the terrain; leading many to the subconscious belief that fintech apps no matter how formidable can never be fully immune from 'crashing' someday. Despite the convenience offered by digital banking, there's a significant gap between awareness and adoption, with many individuals hesitant to transition from cash-based transactions to digital platforms. The trust gap is bound to narrow progressively in the coming years, as fintech companies continue to innovate and collaborate with stakeholders. Download our latest Case Study for insights on some leading examples that have successfully revolutionized how Africa does finance permanently. This report also provides a roadmap for responsible fintech innovation in Africa, helping you develop a data-driven strategy for success. Download the full report here: https://lnkd.in/dKCn8H5X #PierrineReports #AfricanFinance #FinTech #FinancialInclusion #MobileMoney #EconomicDevelopment

The days of seemingly endless Belt and Road financing to build roads and railways in African countries may be behind us, but Chinese investment on the continent can still be found in other sectors, like fintech. The digital payments platform OPay has grown to become one of only six fintech unicorns headquartered in Africa, and it's done so by providing a reliable way to move money for people who live with unreliable banking systems. My story for The Wire China, with comments from Nchedolisa Akuma, Motolani Peltola (née Agbebi) and Gianluca Iazzolino.

🚀 Presenting the Winning Strategy for Africa's Fintech Market! 🌍   PML OCT PM CHALLENGE,winning team has reimagined fintech in Africa, crafting a roadmap to address key challenges and unlock massive opportunities in cross-border payments. 💸📈 From reducing fees and enhancing security to boosting financial inclusion—they've tackled it all! Here's what they uncovered in the journey:   🔹 Growth Potential: With projections of $65 billion by 2030 and $70 billion by 2040, Africa's fintech market is primed for expansion, fueled by mobile penetration and a large unbanked population. 📱💵  🔹 Top Players: Key competitors like FlutterWave, Chipper Cash, and Lemfi show us the strength of the African fintech ecosystem and the fierce competition shaping it.  🔹 Tech Integration & Regulation: From AI to blockchain and the African Continental Free Trade Agreement, the landscape is evolving fast! 🚀   Problem Focus: High fees and regulatory complexity in cross-border transactions are big roadblocks, especially for freelancers and remittance senders, who face high conversion rates and long delays. 🕒   🎯 Objective: Create a seamless, low-cost cross-border payment platform with a secure wallet, simplified KYC, and robust customer support to make transactions smoother than ever! 💳✨   Roadmap Snapshot: Our team mapped out a phased development approach with essential features up front, focusing on usability, affordability, and security. 🛠️🔒   Kudos to the amazing team for tackling Africa's fintech challenges head-on and paving the way for a more inclusive financial future! Halima Iyke-Oginah, Blessing Asibi Bako, DANIEL UMAH (MBA) , Joy Ozoya ,Nomajuba Hlatshwayo,AbdulGaniu Shelle , MARIAM ATOYEGBE 👏👏 #PMLChallenge #AfricaFintech #CrossBorderPayments #FintechForGood

During this year’s Money20/20 Europe in Amsterdam, FinanceMalta showcased the island country’s unique fintech offering. To learn more about why Malta is fast becoming a hotbed for innovation, we chatted to Alan Cuschieri, governor of FinanceMalta. Read more here: https://hubs.li/Q02Jdd8m0. #malta #financialservices #fintech #money2020

Currently, 57% of Africa’s population remains unbanked, but the swift adoption of mobile technology, alongside the rise of neobanking and fintech innovations, is driving significant progress in financial inclusion. As foreign investments flood into the continent, a major challenge will arise between existing foreign technologies entering and disrupting the market, and local banks and emerging start-ups developing homegrown solutions. Traderoot is committed to fostering and advancing the local fintech ecosystem by providing cutting-edge solutions that support rapid fintech development and deployment. Learn more about Traderoot Africa and our suite of Fintech solutions by visiting our website - https://lnkd.in/gX5acWw7 – or by emailing us on sales@traderootafrica.com. #fintech #finance #financialtechnology #mobilepayments #remittance #neobanking #banking #technology #africafintech #finnovation #unicorn #innovation #payments #perfectingcommerce

Nigeria's fintech industry has minted yet another unicorn via Moniepoint Group 🦄. The question on many minds is, "Why another fintech?". Moniepoint joins OPay, Chipper Cash, Wave Mobile Money, MNT-Halan, Flutterwave and Interswitch Group on Africa's fintech unicorn list. In the first chapter of my book, The Growth Handbook - Scaling Fintech, I outline the opportunities for technology-driven financial services in Nigeria and explain why fintechs continue to reap the rewards of the heavy digitisation of Nigeria's financial services sector. You can read the first chapter for free to understand why Nigeria's financial services sector keeps growing and learn growth lessons from over 20 professionals in the rest of the book. Link here https://lnkd.in/eq6pmtM3

Another proof that Indian Fintech is ready to rule the Global Markets- PB Fintech (parent of Policybazaar & Paisabazaar) tops the Global Fintech Index in 2024 after a 110% surge in shares! The company swung to profit with ₹60 Cr in Q1 FY25, marking a major comeback. 📈 #fintech #stockmarket #PBFintech

Can FINTECH companies rival traditional banks? It's no news that FINTECH adoption has been growing in recent years. and this was aided by the unreliability of traditional banks when it comes to facilitating payments locally and internationally. So do you think digital FINTECH companies are the future of payments? Well, they might be! But I'll leave that discussion for another day. Today, I want to celebrate a revolutionary figure in the African FINTECH space. Mr Olugbenga Agboola, the CEO and founder of Flutterwave. He needs no further introduction. We all have seen and heard of the tremendous impact he has made through flutterwave in the African digital payment space. Flutterwave is one of the few Nigerian companies worth more than $3B The accomplishments of Mr olugbenga agboola as a software engineer and founder of flutterwave, inspires me to dare to dream. everything is possible! building a billion dollar company is possible! being a leader in your industry is possible! Mr olugbenga agboola is a living proof, he has been there and done that! The future of digital payments in Africa with flutterwave in the game, is surely in safe hands. ---------------------------- Have any thoughts regarding digital payments in Africa? Let me know in the comments! #mcw #wcw #rolemodel #fintech #digitalpayments #banks #TheLinkedinEdgeChallengeWithInneh