Remittance apps are quietly replacing traditional banks for Africans abroad, and the shift is being driven by one thing: frustration. For millions of Africans living in Europe and the UK, sending money home is no longer just about transfers. It is about speed, trust, transparency, and survival. Families across Nigeria, Kenya, and Ghana depend on
Nine years after launching from a single-room apartment, Jeroid has crossed a major milestone, processing more than $1 billion in transaction volume while serving over 500,000 users across Nigeria and beyond. The achievement comes as the crypto and digital finance company marks its ninth anniversary, highlighting how a platform that started as a crypto and
Branch, one of Africa’s largest app based lenders, has laid off employees across parts of its business in a move that is reigniting conversations around the changing realities of Africa’s fintech hiring boom, despite the company reporting profitability across its key markets. The San Francisco headquartered startup confirmed the workforce reduction, describing it as a
Mastercard and BMONI are betting that Nigerians want more control over how they spend, save and transact globally and they are doing it through instant virtual and physical payment cards. In a move that signals the next phase of digital payments in Nigeria, Mastercard has partnered with BMONI, an AI powered financial platform, to launch
PayPal is betting bigger on stablecoins and Africa is now part of the plan. The payments giant has expanded access to its dollar backed stablecoin, PYUSD, to 70 global markets, including countries across Africa, giving users and businesses access to faster digital dollar transactions directly from their PayPal accounts. The move signals a deeper push
As competition for Nigeria’s next wave of financial inclusion intensifies, OPay is making a strategic push beyond major commercial hubs. The fintech giant has officially launched a new office in Jos, signalling a deliberate move to deepen its footprint in underserved regions and strengthen its nationwide agent and merchant network. Why Jos and Why Now
On March 25, hundreds of employees were abruptly laid off during a company wide call, a move the company insists is not about financial pressure but about preparing for its next phase of growth. Beneath that explanation, however, lies a deeper shift that reflects how fintech players are quietly restructuring for sustainability, efficiency, and scale.
Moniepoint Inc. has finally secured its long awaited entry into East Africa, completing the acquisition of a 78 percent stake in Sumac Microfinance Bank and unlocking access to Kenya’s tightly regulated banking market. The deal, finalised in Nairobi, gives the Nigerian fintech a deposit taking licence, a critical piece of infrastructure that positions it to
Africa processes over $100 billion in remittances every year — yet moving money from Lagos to Nairobi still costs more, takes longer, and hides more fees than sending it to London. Divest’s new Money Xchange product, built inside its V3 app update, is the most direct answer yet to a problem that has embarrassed the
With a fresh CBN licence and direct access to Nigeria’s core banking switch, NALA is no longer just another remittance app — it’s becoming infrastructure. Here’s why that changes everything for the Nigerian diaspora. For years, sending money home to Nigeria meant paying the price of a broken system — fees stacked on fees, transactions