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.
💸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 Rwandasigned Africa’s first fintech licence-passporting agreement.
🪙 Stablecoin Watch
Insights & Resources;
People don’t want stablecoins.
They want
• Dollars (in global south)
• Faster settlement
• 24/7 payments
• Lower fees
• Reliable payments
• No prefunding obligations
• Access to investment opportunities
• Cheaper credit
Stablecoins are an enabler, not the product— Chuk (@chuk_xyz) November 16, 2025
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Meet the people who Built Nigeria's Biggest Tech Brands But You Hardly Hear Their Names.
🦉 Tweet of the Week
Sometimes it's better to have one elephant at your side than a hundred gazelles https://t.co/qCFRfQaxqF— Emeka Ajene ✍🏽 (@eajene) November 11, 2025
Made in Tanzania 🇹🇿 with 💚
