BitKE

12 fintech startups have made it to the final round of the 2024 Ecobank Fintech Challenge.
The finalists were announced at the semi-finals, which was held at the Ecobank Pan-African Centre in Lagos, Nigeria, with tie-ins from different countries such as France, Ghana, Côte d’Ivoire, Senegal, and

VIBRA, a Pan-African P2P cryptocurrency platform, has shut down operations in Nigeria, Kenya, and Ghana despite previous claims of a strategic pivot. The company struggled with a costly customer acquisition strategy and a challenging crypto sector.

The IMF has launched a new global payment system called the XC platform, which uses a unified ledger for transactions with CBDCs. It promises lower fees, faster processing, and better information management, facilitating central banks' intervention in foreign exchange markets.

The FTX Recovery Trust has withdrawn its motion to limit creditor payouts in specific foreign jurisdictions, including China. This decision offers hope for creditors, though challenges and potential losses remain, emphasizing the complexity of crypto asset recoveries.

Carry1st, Africa’s leading game publisher, introduces EA SPORTS FC™ Mobile top-ups on the Carry1st Shop, in a partnership with Electronic Arts Inc. (EA), the global leader in digital interactive entertainment.
Gamers are now able to recharge their FC Points and Silver in local currency and use the

Kenya is testing a digital ID system using biometric scans for identity verification, set to launch in December 2023. This follows concerns over data privacy due to WorldCoin's activities. The new ID will replace Huduma Namba and serve as a lifelong identification number for accessing government services.

In 2023, MoniePoint processed 5.2 billion transactions worth over $150 billion, marking a 205% growth from 2022. While notable, its volume is less than Kenya's M-PESA. MoniePoint expanded into personal banking, launching a consumer app and debit cards to compete with local fintechs.

Uber CEO Dara Khosrowshahi announced that the company is exploring stablecoins to potentially reduce international money transfer costs, highlighting their practical benefits. Interest in stablecoins is growing across various sectors, with significant market activity and institutional engagement.

يبرز فينسنت لي من Adaverse تأثير الظروف الاقتصادية الكلية على استثمارات أفريقيا في Web3 والشركات الناشئة التقنية. على الرغم من الأهداف الطموحة في البداية، فإن الشركة ملتزمة على المدى الطويل وتتوقع نمو الأطر التنظيمية وحلول البيانات على السلسلة بحلول عام 2025.

Egyptian fintech company Flash has raised $6 million in seed funding to advance cashless payment solutions. With Central Bank approval, Flash uses QR codes for transactions, targeting e-commerce and businesses lacking POS tools.

Blnk, an Egyptian digital lending startup, has raised $23.7 million in funding to enhance its AI-driven lending platform. Launched in 2021, it provides quick loans at the point of sale, promoting financial inclusion in Egypt, where credit card access is limited.