Fintechs in Nigeria Receive $500 Million in 5 Years.
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele stated that Nigeria financial technology (fintech) firms attracted an investment of $500million between 2015 and 2020 due to improvement necessitated in the ecosystem by CBN. The Central Bank of Nigeria…
Fintech Helps Churches In Kenya To Receive Donations & Offerings.
A Kenya-based fintech startup that helps churches and non-profit organisations receive donations through multiple payment channels, has secured an undisclosed amount of seed funding for product development and team expansion. The investment in Jumuisha came from SprintX, a venture studio for early-stage…
Nigeria Fintechs Pull In $293.2 Million in First Half of 2021.
The first half of the 2021 financial year has seen Nigeria fintech industry generating $293.2 million, out of which 70% is earned from foreign direct investment. According to intelligence data from Techpoint, the data and research arm of Techpoint Africa,…
Opinions Against CBN’s Snub of Nigerian Fintech Companies On eNaira Development Grows Among Industry Players.
Stakeholders in fintech and digital currency in Nigeria were bewildered when CBN announced that it will be partnering with Barbados based fintech company Bitt Inc for the technical development of eNaira. Many believed that Nigeira digital currency ecosystem is filled…
What Powers Fintech Explosion in Nigeria ?
Despite what industry stakeholders describe as government unstable regulatory policies on fintech, investment in the fintech sector continues to attract new investors. In this article culled from Financial Post, Neil Munshi went to the streets of Lagos rated as the…
NITDA Slaps Loan App With 10 Million Naira Fine Over User Privacy Infractions.
NATIONAL Information Technology Development Agency (NITDA) has imposed a sanction of N10 million on an online lending platform, Soko Lending Company Limited (Soko Loans), over data privacy invasion. This was disclosed in a statement by NITDA made available to the press on…
Nigeria Tech Ecosystem Stakeholders Kick Against New Proposed NITDA Bill.
Operators have raised concerns about some aspects of the proposed National Information Technology Development Agency (NITDA) Act. describing it as ambiguous and may require further consultation before it becomes an Act. Largely, the proposed bill wants technology companies operating in…