Nomanini, the fintech platform for the informal retail ecosystem, has announced a US$4mn funding round led by Standard Bank, Africa’s largest bank, and completed by Goodwell Investments, an Amsterdam-based investment firm focused on fintech and financial inclusion
Commerce
Ethiopia to cooperate with Alibaba to promote digital economy
The Ethiopian Ministry of Innovation and Technology has announced a cooperation with Chinese e-commerce giant Alibaba Group to grow its digital economy
MTN Nigeria to offer financial services
Telecom operator MTN Nigeria Communications PLC has been granted permission to offer financial services by Nigeria’s central bank
Lamar Holding invests US$1mn in Nigeria’s fintech firm
Lamar Holding, the Bahrain-based energy investment company, has announced that it has invested US$1mn in Nigerian payment application development company, TechAdvance
Sub-Saharan Africa all set to rise as a fintech hub
Sub-Saharan Africa has the potential to emerge as a fintech hub, providing solutions to millions of unbanked population