Top Fintech Cities in Africa

Hi Fintech friends 👋,

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

  • Fintech deals worth $150 million were announced.

  • A $205 million VC insisted on the opportunity in African fintech.

  • Nigeria’s most likable fintech relaunched its product after a $160K fine.

  • A $50 Billion valued Global Fintech announced Africa’s expansion plans.

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💸Fundraise and Exits

  • Kaykoraised $1.2 Million seed round to digitize SMEs and unlock credit access.

  • Lagride secured a $100 Million facility to expand driver asset ownership.

💰 Venture Funds

  • A $205 million VC insisted that there are still incredible opportunities in African fintech.

🚀 Partnerships & Product Launches

  • Egypt’s MoneyHashpartnered with WalaOne to expand rewards solutions for merchants in Saudi Arabia.

  • Paystack revived consumer app eight months after $160,000 fine.

👔 Leadership Lineup

  • Several African fintech founders and operators were selected for TechCabal’s Builders List.

  • UK Employment Tribunal dismissed gender discrimination suit against Kuda, CEO.

📰 News of the Week

  • Nigerian fintechs’ $230 million funding in 2025 raised crucial questions.

Nigerian fintech raised $230 million in 2025. On paper, that’s a 44% drop from the $410 million raised in 2024. But the real story isn’t about the money that disappeared. It’s about the question that emerged in its place.

“Smart capital is now asking whether fintechs are solving real problems that expand the economy or simply extracting rent from existing fragility,” said Kristin H. Wilson, Managing Partner at Innovate Africa Fund. It’s a brutal assessment, but one that explains why only 27 out of over 500 Nigerian fintech companies managed to raise funding of $100,000 or more this year.

👀 Eye Openers

  • Finally, PayPalannounced that it is coming to Africa. Should African PayPal alternatives be worried?

📑 Read of the week

  • Why Africa’s Fintechs are becoming Banks. (Mambo Brief)

📖 Other News, Reads, and Media

  • The Central Bank Of Nigeria gave financial institutions one month to route all PoS transactions through NIBSS and UPSL.

🪙 Stablecoin Watch

News;

  • Tala partnered with Solana to fund fund tokenized consumer loans with a $50 Million USDC Credit line.

Insights and Resources

  • Why stablecoins have an impactful future ahead of them in Africa.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

  • An interview with Kartik Sharma, Head of Exits at Launch Africa Ventures, where he explains why African startups should consider IPOs.

🦉 Tweet of the Week

❝

Access to capital remains the biggest challenge for entrepreneurs in our region.

The convertible note I reviewed yesterday for a Nigerian company would make any VC in Silicon Valley scream...

The note requires quarterly interest payments, annual principal payments, and the…— Tayo Oviosu 🗽 (@oviosu) December 18, 2025

Made in Tanzania 🇹🇿 with 💚

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