Colombian Fintech Minka Expands into 8 African Countries, Banque Misr Invests $114M in Digital Banking Subsidiary, Kenya's WorkPay Raises $8.8M & More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
• Colombia's Minka announces expansion into 8 African countries
• Convergence receives approval for Datacentrix acquisition
• Banque Misr invests $114M in digital banking subsidiary, OneBank
• Kenya's WorkPay raises $8.8M USD to accelerate expansion
AND MORE!
Making the news
Columbian fintech Minka announces expansion into 8 Eastern & Southern African countries
"Colombian payments infrastructure startup Minka has launched operations in Eastern and South Africa, the company said in a statement on Tuesday. The company plans to expand to Kenya, Tanzania, Ethiopia, Malawi, Zambia, Burundi, Uganda, and Mozambique in the first phase. Minka is a cloud-based programmable solution that can be customized by its partners to fit within a variety of regulatory frameworks." The Kenyan Wall Street.
South Africa approves 63 new crypto licenses
"The Financial Sector Conduct Authority (FSCA) of South Africa has significantly expanded its roster of licensed Crypto Asset Service Providers (CASPs), approving 63 new applications in the second quarter of 2024...As of June 30, 2024, the total number of licensed CASPs in South Africa was 138, up from 75 in April 2024, FSCA said in a July 2 press release." Mariblock.
Convergence Partners' 100% acquisition of Datacentrix receives regulatory approval
"...[U]nder the Convergence Partners umbrella, Datacentrix is going to focus on expanding its roots in South Africa and broadening its footprint “further into the continent and beyond”. According to Ngcaba, who chairs the Convergence Partners board, the dawn of the AI revolution in enterprise presents a big opportunity for Datacentrix." TechCentral.
Banking & Telecom Activity
Startup Activity
Egypt - Fintech startup EXITS MENA expands to Saudi Arabia via a strategic joint venture
Kenya - Digital verification startup Peleza merges with US-based Prembly to form a single digital security platform
Kenya - HR payroll provider WorkPay raises $8.8M to help accelerate its expansion across Africa
South Africa - Software company Polymorph acquired by Octoco Group to help strengthen its tech consultancy services
Recommended by LinkedIn
2024 Startup Funding to Date - WeeTracker
AFTS community in the news
AFTSNairobi Ecosystem Tour Stop, TRIFIC SEZ, launches accelerator for scale-ups in partnership with One Space and Chanzo Capital
"The accelerator’s one-stop shop will be located at the Two Rivers SEZ, benefiting from the zone’s tax breaks and inexpensive executive office space, which will reduce costs for startups wishing to break into new markets." The Kenyan Wall Street.
Former AFTS sponsor Termii announces surpassing 1 billion customer transactions
"Termii has achieved unprecedented success ... processing over 1 billion customer transactions (SMS, Voice and WhatsApp)." Techcabal.
AFTS in the headlines
AFTS launches application for AlphaExpo Micro-Accelerator at the upcoming 12th AFTS in Nairobi, Kenya
Apply now - https://forms.gle/xjG7bSEsW8sS78tg7
AFTSNairobi | Sept. 4-6, 2024
Software Engineer
5moGo minka! 🚀
Appreciate the share Africa Fintech Summit! Our mission is to extend our technology throughout Africa to promote financial inclusion and facilitate smooth money transactions. We've been dedicated to this cause in Latin America for more than four years, partnering with the financial community and revolutionizing money interactions. Stay tuned for more!