Oneremit has processed more than $200 million in outgoing cross-border transaction volume within 18 months of operation, according to a published article on TechCabal, as the fintech expands its regulatory coverage and builds infrastructure to support international payments for African businesses. The article reports that Oneremit holds regulatory licences and registrations in Nigeria, Canada and
Nigerian fintech Nomba has secured a US$3 million debt facility as it looks to more than double its monthly cross border payment volumes from US$480 million to US$1 billion, with expansion into more African markets starting with the Democratic Republic of Congo (DRC). The facility, obtained through CardinalStone Finance Company Limited, will provide Nomba with
When OPay launched its National Innovation Challenge earlier this year, it was not just looking for ideas. It was searching for the next generation of builders who could help shape Nigeria’s digital economy. After receiving more than 2,200 applications from over 11,000 undergraduate students across Nigeria, the fintech company has selected the top 48 teams
FairMoney Microfinance Bank is making a decisive push to evolve beyond its fintech roots, appointing two seasoned banking executives to strengthen its leadership as it scales into a full-service digital bank. The company has named Gbenga Shobo as Chairman of the Board and Debo Aderoju as Executive Director and Chief Risk Officer—moves that signal a