Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
African Fintech raised $22 Million to expand credit access and cross border payments.
Co-founder of YC backed Fintech filed a lawsuit alleging that he was removed from the company without his consent or compensation.
Ivorian Fintech secured the first microfinance licence with no objection from the Central Bank.
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💸Fundraise and Exits
Kredete raised a $22 Million Series A round to expand cross border payments.
💰 Venture Funds
33 African startups raised $93 Million in August led by Nigeria, Egypt and Kenya.
🚀 Partnerships & Product Launches
Onafriqpartnered with Visa to launch Visa Pay across the Democratic Republic of the Congo.
👔 Leadership Lineup
Co-founder of YC backed Union54 filed a lawsuit in the country’s High Court alleging that he was removed from the company without his consent or compensation.
📰 News of the Week
Ivorian fintech Djamo secured the first microfinance licence with no objection from the Central Bank of West African States.
“These users are evolving,” CEO Bourgi told Techcrunch in April. “But they don’t want to go where their parents went, into institutions with predatory pricing and aren’t adapted to the new generation of customers. And this is what we are building”
👀 Eye Openers
Lawmakers in Kenya voted in favour of a 10% excise duty charged on crypto transaction fees that exchanges collect from their platform users.
📑 Read of the week
How Tosin built Nigeria’s largest business payments platform. (Afridigest)
📖 Other News, Reads, and Media
Banks and Fintechs refunded Nigerians $6.6 Million in six months.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
How to Build a $620 Million Fintech Business in Africa: Lessons from 4G Capital CEO Wayne Hennessy.
🦉 Tweet of the Week
Africa is a very informal market.
As of today, there's a ramp platform focused on East-Africa that averages $2.5M in monthly volume. Somalians are responsible for 80% of those volumes. The team's X page is largely inactive.
There's also another team rn that have been the only…— Dami.base.eth (@Sir_Damilare) September 13, 2025
Made in Tanzania 🇹🇿 with 💚
