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Viewpoint: Cryptocurrencies: Africa’s New ‘Blood Diamonds’
Central African Republic (CAR), the world’s second-poorest country, is nowhere near ready for payments via cryptocurrencies. Yet CAR’s authorities threaten significant fines and other penalties on vendors who refuse to accept bitcoin for payments.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Bankingly of Uruguay Raises $11 Million in Equity Round Led by Dalus Capital to Help Financial Institutions Boost Digital Inclusion in Africa, Asia, Latin America
Uruguay’s Bankingly recently secured an investment package totalling USD 11 million, which it plans to use to expand in Latin America and Africa as well as enter Southeast Asia.
- Region
- Latin America
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Pangea to Unlock Diaspora Remittances as Funding Source for African Startups
Pangea Trust, through its equity crowdfunding platform Connect, is unlocking diaspora remittance inflows as funding source for early and growth-stage startups in Africa.
- Categories
- Investing, Technology
- Region
- Sub-Saharan Africa
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JiPay Raised US $1.3 Million of Seed Funding Led by East Ventures
JiPay, a Singapore-based fintech startup, creates an inclusive financial services platform for migrant domestic workers.
- Categories
- Finance, Technology
- Region
- South Asia
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Tanzania, Uganda, and South Africa Are the Top African Markets for Remittance Inflows in Kenya
Diaspora remittances decreased by 3.4 percent, as Kenyans working and living abroad sent home $338.7 million (Sh38.3 billion) in January 2022 compared to a monthly record high of $350.6 million (Sh39.6 billion) in December.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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The Next Financial Inclusion Revolution: The Transformative Potential of Scaling Small Group Savings in the World’s Poorest Communities
Despite $52 billion invested in financial inclusion in 2019 alone, nearly 2 billion people – many of them among the world’s poorest – still lack access to formal finance. As Jeffrey Ashe at Grassroots Finance Action points out, these communities often turn to informal savings and credit groups to meet their financial needs – but there are many who are too poor and marginalized to be invited to be part of these groups. He explores a proposal that aims to expand access to informal savings groups to reach these financially excluded individuals around the world.
- Categories
- Finance
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Emerging Markets Lender Lendable Seeks $100 Million to Fund Fintech Companies
Emerging markets fintech financier Lendable is targeting to raise a $100 million fund to invest in African and Asian fintech companies.
- Categories
- Finance, Investing, Technology
- Region
- Asia Pacific
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Backed by Greycroft, Klasha Gets $2.4 Million To Improve Cross-border Commerce in Africa
Klasha, a Lagos and San Francisco-based startup, sees a niche in cross-border commerce and provides multiple integrations and APIs to facilitate transactions in that space.
- Categories
- Entrepreneurship, Finance, Technology
- Region
- Sub-Saharan Africa
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