Accrue, a Nigerian fintech startup, has raised $1.58 million in seed funding led by Lattice Fund. Originally launched as a crypto investment platform, Accrue pivoted to address cross-border payment challenges in Africa.
Visa has invested $10 million in Nigerian fintech unicorn Moniepoint, marking a significant step toward expanding contactless payments across Africa. Moniepoint, a leader in agent banking with over 200,000 PoS agents, processes $22 billion in monthly transactions. This partnership aims to deepen financial inclusion, empower SMEs, and address the challenges of cash-dominated microtransactions in Africa’s $1.4 trillion retail market.
Nigeria's energy sector recorded a groundbreaking $6.7 billion investment in 2024, with significant contributions to oil and gas, clean energy, and metering initiatives.
Public debt in Nigeria rose to N142.3 trillion in Q3 2024, reflecting a 5.97% increase due to naira depreciation and higher domestic borrowing. This report delves into the key drivers, debt components, and implications for the nation’s fiscal health.
MoneyHash, an Egyptian fintech innovator, has secured $5.2 million in pre-Series A funding to expand its operations across the MENA region. By offering a unified API that simplifies payment management for businesses, the startup is addressing the challenges of fragmented payment systems. With backing from prominent investors, MoneyHash is poised to revolutionize how merchants streamline payments and combat fraud.
Healthtech startups are redefining healthcare in Africa, addressing critical challenges and improving access to medical services. With increasing mobile penetration enabling telemedicine and e-health solutions, companies like Helium Health and mPharma are bridging gaps in underserved regions.
South African insurtech company Naked has raised $38 million in a Series B2 funding round led by BlueOrchard, with strong support from existing investors like Hollard and the IFC.