Fintech Companies Aim to Slash High Remittance Costs for Sub-Saharan Africa
In 2023, remittances to sub-Saharan Africa were valued at $54 billion. Remittances account for over a fifth of GDP in The Gambia, Lesotho, and Comoros.
Ghanaian fintech Affinity bags $8M to scale digital banking in a mobile money-driven market
Affinity Africa raised $8 million in seed funding to expand its financial products in Ghana. The startup has onboarded over 50,000 customers since its launch last October.
P1 Ventures Eyes Africa’s Emerging Tech Hubs
P1 Ventures has closed its first $50 million institutional fund. The firm is allocating half of its new fund to emerging hubs in North, West, and Central Africa.
How ANAVA fund of funds sparked a startup investment wave in Tunisia
Startup Tunisia was initiated in 2015 to support young companies and foster a startup ecosystem in Tunisia. The Startup Act, launched in April 2019, has labeled about 1,200 companies as startups, indicating a significant increase in activity.
PalmPay eyes remittances as it mulls Asia Expansion
PalmPay is considering venturing into the remittance market as part of its expansion plans into Asia. The company aims to target the Middle East and Southeast Asia by 2025.
