"Companies are not sold; they're bought." Ventures Platform's Managing Partner on M&A activity in Africa
OmniRetail acquired Traction Apps to enhance its fintech capabilities. Ventures Platform facilitated the acquisition of Brass earlier in 2024.
MTN Nigeria to obtain two additional payment licences for MoMo PSB
MTN Nigeria applied for PSSP and PTSP licenses for MoMo PSB. PSSP license allows MoMo PSB to offer payment processing gateways.
Exploring the surge in fraud in Nigeria's burgeoning fintech industry
11,532 fraud cases reported in Q2 2024, up from 11,472 in Q1. Losses from fraud increased from ₦2.9 billion in Q1 to ₦56.3 billion in Q2 2024.
Revolutionizing Payments in Kenya: Interswitch and Tuma Launch Tumatap
Tumatap, a contactless payment solution, is introduced in Kenya through a partnership between Interswitch and Elie Technologies. The system converts smartphones into POS terminals, eliminating the need for additional hardware.
OPay Secures Court Approval to Freeze Accounts After ₦714 Million Discrepancy
Chinese-owned fintech behemoth OPay has been granted permission to freeze customer accounts across thirty banks. OPay is trying to retrieve ₦714 million that was mistakenly credited to customers due to a system malfunction.
