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Meta is launching NFT features on Instagram, allowing users to create, showcase, and sell digital collectibles directly on the platform. The initiative, currently in testing, aims to empower creators and enhance user engagement with NFTs.

The IMF reports a significant rise in cryptocurrency use among Kenyan firms for international payments, particularly during dollar shortages. A survey indicates stablecoins like USDT are popular for mitigating shilling depreciation. The IMF recommends establishing a regulatory framework for cryptocurrencies in Kenya.

Ghana-based fintech, ZeePay, has secured $18 million in senior secured debt funding, aimed at scaling its digital payment infrastructure and meeting the liquidity demands of real-time remittance flows – drawing parallels with how crypto protocols manage liquidity and settlement.
Founded in 2014, Ze

Zimbabwean startups Flex ID and Uhuru Wallet have launched an integrated digital identity and remittance platform for Zimbabwean immigrants in South Africa, targeting high fees and financial service access. This marks their first cross-chain collaboration leveraging blockchain technology.

The Central Bank of Nigeria (CBN) has announced the implementation of its digital currency, known as the eNaira, as a payment alternative for recipients of diaspora remittances.
This means that individuals receiving remittances from abroad now have the option to receive their funds in eNaira.
CBN

Flutterwave, a leading tech unicorn in Africa, has secured Payment Services Provider and Facilitator licenses in Egypt, enabling it to offer payment solutions and support cross-border transactions, enhancing growth for local businesses and international firms.

EziPay and MFS Africa have partnered to enhance remittance accessibility and interoperability for mobile wallets and bank accounts across Africa, benefiting businesses and individuals through expanded digital payment services.

Ethio Telecom reported an 8.9% increase in subscribers, reaching 78.3 million, and a revenue jump of 21.7% in 2023/2024, amounting to Birr 93.7 billion. The company expanded its 4G and 5G networks while TeleBirr saw significant growth in mobile money transactions.

A survey by Tala reveals that education drives borrowing needs for Kenyans, with digital credit aiding income gaps. While inflation has eased, 56% still cut expenses, reflecting improved financial well-being.

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

Egyptian fintech MoneyHash is expanding its operations to Sub-Saharan Africa after a successful launch in the MENA region. The startup offers a super-API for payment orchestration, providing a unified checkout experience and integrating over 90 providers, including major brands.

The Kenya government's Hustler Fund quickly disbursed over 413 million Ksh ($3.3 million) in loans after its launch, aiming to support small businesses and encourage savings. Accessible via mobile, it offers flexible loan options and promotes financial stability.

ZARP, South Africa's only fully audited Rand stablecoin, partners with Old Mutual Wealth for cash reserve management, enhancing trust and innovation in the crypto space. It aims to provide stable financial solutions for traders and users alike.

2023 was a hard year for startups across Africa and the World, as funding declined tremendously amidst a harsh economic climate.
The cryptocurrency sector was heavily affected, struggling through a bear winter that claimed many businesses and so a retreat of money into the sector.
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Egyptian digital lending startup Blnk was awarded the Fintech Enabler title at the Egypt Entrepreneur Awards for its innovative point-of-sale lending solutions, enhancing financial inclusion in a market with low credit card usage.