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African identity verification startup, Smile Identity, says it has hit the 60-million identity check mark, a number which equates to doing ID checks on about 4% of the entire population of Africa.
Smile Identity, which has integrations to more ID databases than any other KYC

Umba, a digital bank based in Nairobi and active in both Kenya and Nigeria, has secured a $5 million debt facility to expand its secured lending portfolio in Kenya.
The funding will primarily support vehicle financing and loans for small and medium enterprises (SMEs).
Founded in Nigeria and

Today, Jambo, the largest web3 mobile infrastructure bringing emerging markets on-chain, announced that it’s expanding to the Solana blockchain along with Tether to offer blockchain-enabled financial and educational technologies that cater to emerging markets.
Central to this is the JamboPhone, a $

Buchi Okoro, CEO of Quidax, urged global crypto stakeholders to collaborate with local innovators to unlock Africa's decentralized economy potential. Highlighting crypto's transformative role, he emphasized partnerships as crucial for growth amid rising adoption and innovation in the region.

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The Interledger Foundation has announced 12 grantees of the financial services research and development grants for 2022.
Out of the 12 grantees, 5 are in Africa.
The Interledger Protocol is an open protocol that permits frictionless payments and micropayments across currencies and ledgers,

Nomba, a Nigerian fintech, is entering the DRC with a remittance-focused model, addressing financial exclusion amid a highly dollarized banking sector. By recruiting local agents and ensuring regulatory compliance, Nomba seeks to build trust and infrastructure for future digital banking services, despite competition and challenges in trust and liquidity.

Equity Bank Group reported a 25% increase in net profit for Q1 2024, reaching KES 16 billion, driven by growth in subsidiaries across East Africa. The bank also improved its asset base amidst tightened credit measures and a diversified loan portfolio.

IvoryPay, a blockchain payment platform, has partnered with Hedera to enhance its services. With over $80 million in transactions and 8,000 merchants, this collaboration will improve infrastructure, expand services in Africa, and foster digital currency adoption.

MoneyFellows, an Egyptian ROSCA (Rotating Savings and Credit Association) fintech has raised $31 million in a series B round led by CommerzVentures, Middle East Venture Partners (MEVP), and Arzan Venture Capital.
The round sends the 4-year firm’s total fundraising to $37 million and it expects to t