Darren Franks

The newly-formed Association for South African Payment Providers (ASAPP) aims to enhance the local fintech sector by promoting fair access to digital payment infrastructure, reducing transaction costs and fostering real-time payments.   With members like Network International/Payfast by Network, the association strives to create a more inclusive, transparent and efficient payment ecosystem, particularly for unbanked and under-banked populations.   ASAPP is committed to driving innovation, improving financial inclusion and supporting businesses in South Africa.   Read more: https://lnkd.in/dRkygMs8

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🚀 LeapFrog anchors final close of Moniepoint’s $200M Series C to power financial inclusion 🚀 Moniepoint Group, Africa's all-in-one financial platform for businesses and their customers, has raised over $200 million in Series C funding -- reflecting its rapid growth, sustained profitability and proven impact. LeapFrog anchored the final close, joining Development Partners International (DPI) and other investors including Visa, IFC - International Finance Corporation, Proparco, Swedfund International, Verod, Lightrock, Google's Africa Investment Fund and Alder Tree Investments. Moniepoint serves over 10 million business and personal banking customers and processes more than $250 billion in digital payments annually. It is one of the few fintechs globally, and the first in Africa, to achieve profitability at unicorn scale while advancing financial inclusion. A big thank you to the LeapFrog team, with special mentions to Karima Ola, Michael J., Simba Manyumwa, Alessio de Gouveia, Diana Pentland, and Claire Yuen, for their hard work in bringing this investment to life. 🔗 Read more: https://lnkd.in/gx86Sb95 #FinancialInclusion #Fintech #Africa

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++ Ozow and TymeBank Partner to Expand PayShap Service in South Africa ++ Payments fintech Ozow has announced the expansion of its PayShap Request service through a new partnership with TymeBank, which joins as the company’s second sponsor bank. The collaboration enhances Ozow’s position as a central player in South Africa’s national payments ecosystem, providing merchants with a single integration partner while broadening access and resilience for businesses and consumers. The development builds on Ozow’s first-to-market launch of PayShap Request in July 2024 and aligns with the South African Reserve Bank’s goal of creating a modern and inclusive digital payments landscape. TymeBank, which surpassed 10 million customers in December 2024, is emerging as a strong driver of PayShap adoption. The digital bank’s simplified authorisation process has helped it achieve the highest success rate for PayShap Request transactions on Ozow. Additionally, by offering PayShap payments free of charge, TymeBank is positioning the service as an accessible and cost-effective option for real-time interbank payments. 📌 Full story on TechAfrica News: 🔗 https://lnkd.in/dshu_sDF #TechAfricaNews #Ozow #TymeBank #InstantPayments #ShapID #FinancialInclusion #PaymentInnovation #InclusiveFinance

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South Africa’s 🇿🇦 NjiaPay, a payments-as-a-service provider, has closed an oversubscribed $1 million pre-seed funding round led by HAVAÍC, with backing from angel investors, including founders of Anyfin, Banxware, and Maxidrive. The funding will support NjiaPay’s expansion and platform development as it works to streamline payment processes for African businesses 🌍. 💳 Launched in late 2024 as a spin-off from Talk360, NjiaPay tackles the complexities of payment integration, allowing businesses to manage transactions without dealing with multiple payment service providers (PSPs). By offering a seamless payment infrastructure, NjiaPay helps businesses overcome technical and operational challenges, enabling them to focus on scaling their operations. 💬 CEO Jonatan Allback expressed excitement over the funding, highlighting its role in expanding teams in Amsterdam and Cape Town while enhancing platform capabilities. “Our mission is to empower African businesses by simplifying payments. By acting as their in-house payment experts, we free them from operational and technical burdens,” he said. 📈 Rob Heath, partner at HAVAÍC, emphasized the critical need for streamlined payments, noting how complex PSP integrations hinder business growth across Africa. With NjiaPay addressing this gap, it is well-positioned to accelerate digital commerce and contribute to the growth of Africa’s digital economy. Read more: https://lnkd.in/dV8w5_JR Disrupt Africa #Africa #SouthAfrica #Fintech #Funding #Growth

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We’re excited to announce the finalists for the 2025 AFI Inclusive #FinTech Showcase! Each year, the Showcase highlights innovative firms leveraging cutting-edge technologies to empower underserved communities and advance #financialinclusion. Meet this year’s five finalists: 👉 Affinity Africa (Ghana) 👉 BeNoor (Malaysia) 👉 Solè (Fiji) 👉 Saver.Global (Australia) 👉 SHOP OKOA (Kenya) These finalists will pitch their solutions at the 2025 AFI Global Policy Forum in Swakopmund, Namibia on 3 September. Winners will be chosen through a combination of judges’ evaluations and audience voting. The Showcase is supported by the European Commission, with thanks to our strategic partners The LHoFT - Luxembourg House of Financial Technology and the Alliance of Digital Finance and Fintech Associations. ➡ Learn more about how these firms' innovative solutions are advancing to financial inclusion: https://bit.ly/4mPpYEf #DigitalFinance #Regtech #LeaveNoOneBehind #Financialinclusion

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Wave Mobile Money, a leading African fintech, has secured $137 million in debt funding to boost its working capital and support growth. The funds will help expand its mobile money operations and reach more communities with limited access to financial services. 🤑 RMB - Rand Merchant Bank led the funding round, with support from global development finance groups like British International Investment, Finnfund, and Norfund. 🌍 Wave operates in eight markets across West Africa. 📈 More than 20 million people use Wave every month, supported by a network of 150,000 agents and 3,000 employees across the continent. 🚀 Wave became Francophone Africa’s first unicorn in 2021, valued at $1.7 billion after raising $200 million in its Series A round — the largest of its kind for an African startup. Since then, it has raised over $300 million in total. Via TechCabal.  https://lnkd.in/eRa8MKBC  #fintech #financialservices #funding #fundingnews #africa

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