Kenyan Court Releases $3 Million to Flutterwave, Ending Legal Dispute
A Kenyan high court has unfrozen $3 million belonging to fintech giant Flutterwave and two of its associates, concluding a legal battle that began in 2022. This development comes after the funds remained withheld despite a court order in November 2023 to release them. The dispute originated in 2022 when Kenya’s Assets Recovery Agency (ARA) […]
Kippa Cofounder Duke Ekezie Departs After Agency Banking Shutdown, Launches New Venture
Duke Ekezie, co-founder and President of the fintech startup Kippa, has confirmed his exit from the company following the closure of Kippa Pay, its agency banking business. While stepping away from daily operations, Ekezie remains a shareholder and continues to provide advisory support to his brother and fellow co-founder, Kennedy Ekezie. Kippa Pay, the agency […]
Can Flex Finance Dominate Africa’s $1.4 Trillion Business Spending Market
With tighter funding cycles, startups and established businesses alike are seeking tools to enhance fiscal discipline, creating demand for solutions like Flex Finance’s spend management software. Flex Finance, led by CEO Yemi Olulana, offers a suite of tools that allow finance departments to streamline vendor payments, manage spending limits, and reduce losses tied to manual […]
Africa’s Fintech Boom: Unprecedented Growth Awaits, but Challenges Remain
Africa’s fintech sector is set to lead global growth this decade, with revenue projected to soar by 13 times by 2030, according to a report from Boston Consulting Group (BCG) and QED Investors. This explosive growth is expected despite the persistent challenge of financial inclusion; nearly 57% of Africans remain unbanked, according to World Bank […]
MFS Africa Pilots Western Union Remittance Service in Madagascar, Tapping Mobile Money Boom
MFS Africa, Africa’s largest digital payments network, has partnered with Western Union to launch a cross-border remittance service, with Madagascar chosen as the pilot location. This decision to start in a smaller African market has intrigued fintech observers, yet Madagascar’s thriving mobile money landscape provides a strong foundation for the launch. Madagascar, like East African […]
Existing Investors Face Losses as Fluidcoins Sells to Blockfinex Amid Funding Crisis
The recent sale of Nigerian crypto startup Fluidcoins to UAE-based Blockfinex has left existing investors grappling with the reality of a fire sale that saw them exit with no returns. Fluidcoins CEO Lanre Adenowo revealed in an investor update that the startup faced a severe cash shortfall, with a $30,000 deficit on its Flip product, […]
