VBank marks first profitable year with ₦366 million in 2024

VFD Microfinance Bank's positive performance contributed to a wider recovery for its parent company, VFD Group Plc, which also rebounded to profitability after a ₦750 million ($471,824) loss in the previous year.

“Zap is not a remittance app,” Paystack explains

The clarification follows a report suggesting that Zap requires an International Money Transfer Operator (IMTO) license and was launched without regulatory approval from the Central Bank of Nigeria (CBN).

Peach Payments acquires PayDunya in Francophone Africa push

Peach Payments expands into Francophone West Africa with the acquisition of PayDunya bringing the SA fintech's market coverage to 12 in Africa

EXCLUSIVE: Earnipay cuts workforce amid profitability push

Earnipay lays off staff as it focuses on business lending, joining a wave of African startups rethinking growth amid a harsh funding climate.

Stanbic IBTC’s fintech subsidiary Zest widens losses to ₦2 billion in 2024

Profitability may be an uphill task for Zest, but total income is not. The fintech doubled its total income to ₦124 million from ₦68 million in 2023, showing great traction and promise

Exclusive: Paystack issues cease and desist notice to Zap Africa amid product trademark controversy

“We registered the [Zap] trademark across multiple classes, including financial services — a class where Zap Africa has no filing registration.”

EXCLUSIVE: Moniepoint tests remittance product

This new offering is currently in an invite-only beta stage and precedes a planned public launch

Paystack dabbles into consumer payments with fast transfers app, Zap

Zap is not trying to be a neobank. It is focused on one thing—bank transfers, fast, Shola Akinlade, Paystack Co-founder and CEO said

Preserving company culture while scaling: Lessons from growing a fintech from 25 to 100+ employees

Scaling from 25 to 100+ employees is like going from managing a band of five to a full orchestra overnight. 

Inside Sycamore’s ambition to become a financial powerhouse 

Sycamore co-founders talk about the company’s first six years, its evolution and ambitious plans, including the launch of its asset management arm with over ₦10 billion in assets under management.

Yango Group launches $20 Million Venture Fund to empower African startups

Yango Group, a global tech company, has introduced Yango Ventures, a $20 million corporate venture fund aimed at supporting early-stage startups across Africa and other emerging markets. The fund seeks to drive innovation in O2O services, B2B SaaS, and fintech while offering mentorship and strategic support.

Sycamore secures SEC licence, appoints new asset management head

Sycamore secures an SEC fund management licence and appoints Oluwagbenga Magbagbeola to lead its asset management arm.