Fresh off a $154 million funding round in March 2023, South Korean digital lender and neobank Toss Bank is close to raising another $154 million (200 billion won) in equity at a valuation of $2.1 bill
Digital lenders in Kenya will be under the watch of the Central Bank of Kenya under the new Digital Credit Providers regulations.
Umba, a U.S.-based digital bank with a focus on emerging markets, has acquired a majority share of Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya’s monetary auth
Digital credit providers (DCPs) in Kenya will have to disclose their sources of funds and provide evidence of the same after a law meant to regulate the sector came into effect. The new regulations pu
Kenya-based fintech company 4G Capital, which provides unsecured credit to micro enterprises, has raised $18.5 million in Series C funding from global private equity firm Lightrock. The equity funding
Asaak, a Ugandan asset financing startup, has secured $30 million in pre-Series A equity and debt funding. The round saw the participation of new and existing investors including Resolute Ventures, So
Africa’s mobile-money sector remains the most active of any region in the world, according to GSM Association (GSMA), an umbrella body representing the interests of players in the telecommunications
Bfree, a Nigerian credit management fintech, has embarked on global expansion after raising $1.7 million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending ap
In the past decade, numerous mobile lending apps have been launched in Kenya, riding on the growing need for quick loans. However, these startups have been operating in an unregulated environment R
Digital lenders that share personal data of loan defaulters, with third parties, risk license withdrawal in Kenya after lawmakers added a clause — granting the banking regulator the mandate to r