A global surge in initial public offerings, especially in the technology sector, has so far eluded sub-Saharan Africa.
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Moove, a Nigerian fintech start-up that also operates in South Africa and Ghana, has raised $23-million (R335-million) in series-A funding to expand its tech-based vehicle financing platform.
Nigeria’s biggest mobile payments company is vying to become Africa’s next unicorn, and its ambitions now stretch beyond the continent.
In recent years, Lagos, Nigeria’s biggest city, has become Africa’s most attractive tech hub for investors. But that could be imperilled by the government’s decision to suspend Twitter’s operations in the country.
Fintech companies in Africa raised more capital in 2020 despite the Covid-19 pandemic, standing in contrast to their emerging market peers such as Latin America that saw a decline.
Nigerian banks are only now starting to counter the emerging fintech firms riding the online wave spurred by the pandemic. They’re also deploying their political muscle with regulators.
Fintech company Flutterwave has teamed up with US payments giant PayPal to enable PayPal customers to pay African merchants through its platform, the Africa-focused payments firm said on Tuesday.