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A group of major banks, including Citigroup and HSBC, is participating in a 12-week pilot with the Federal Reserve to test a digital dollar using a regulated liability network. The pilot aims to improve payment speeds and explore regulatory frameworks, with results intended to contribute to digital money literature.

Janngo Capital has closed its second fund at €73 million, supported by major investors like AfDB and EIB. The firm focuses on gender-equal investing, with 56% of its portfolio in women-led startups, aiming to improve VC funding access for diverse founders in Africa.

Nsano Ltd has expanded in East Africa by launching an office in Rwanda, securing Payment Aggregation and Remittance licenses. Established in 2013, the firm enhances digital payments across Africa, now serving over 30 countries, and aims for continued growth.

Zambia is developing an Artificial Intelligence Framework with the Tony Blair Institute and EU support, focusing on enhancing digital infrastructure and regulatory measures for AI and cryptocurrency to stimulate economic growth.

Africa will implement the Pan African Payment and Settlement System (PAPSS) by February 2024, enabling transactions in local currencies without relying on the U.S. dollar. Kenya will host the headquarters, promoting regional trade and integration.

The Bank of Ghana has ordered financial institutions to stop partnerships with Taptap Send due to violations of the Foreign Exchange Act. This directive is effective from November 8, 2024, for one month, aiming to deter non-compliance among remittance service providers.

Egyptian social commerce startup Taager has raised $6.75 million in a pre-Series B funding round, led by Norrsken22, to enhance its operations and expand in the MENA region, empowering over 45,000 merchants with integrated e-commerce solutions.

KCB Group, the largest commercial bank in East Africa, has bec0me the first financial institution in Kenya and the region to begin transactions on the Pan-African Payment and Settlement System (PAPSS).
This initiative will allow KCB customers to benefit from quicker settlements, reduced currency co

Paystack has led a consortium to acquire the struggling Nigerian fintech company Brass, enhancing its growth potential with experienced investors. Brass, founded in 2020, focuses on providing financial products for businesses and has seen rapid growth.

Paystack has led a consortium to acquire the struggling Nigerian fintech company Brass, enhancing its growth potential with experienced investors. Brass, founded in 2020, focuses on providing financial products for businesses and has seen rapid growth.

The Ecobank Fintech Challenge for 2023 garnered applications from more than 1,400 fintech startups originating from 64 countries, both within Africa and internationally. Out of these applicants, eight have been selected as finalists who will compete for the ultimate prize in the competition.
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Luno wallet users in South Africa can now make Bitcoin payments at Pick n Pay stores by scanning a QR code, simplifying the previous two-app process. This initiative, supported by the Financial Sector Conduct Authority, facilitates easy purchases at various store formats and services, highlighting increasing crypto adoption.

According to a Q2 2023 analysis by CoinGecko, Nigeria and Morocco are among the top ten countries in the world when it comes to popularity of meme coins.
CoinGecko analyzed the total number of page views year-to-date, for the top 15 meme coins by market capitalization in early May 2023:
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AgriDex, a South African marketplace for real-world assets, raised $9 million to enhance its on-chain agricultural trades, handling commodities with instant settlements and low fees, targeting a $4.5 billion market and projecting $133 million in profits by 2028.