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Grassroots Economics is transitioning its Sarafu Network to the Celo blockchain to enhance its community inclusion currency model in Africa. The move promises improved user experience, migration support, and continued free access, all while maintaining alignment with humanitarian values.

The CMA of Kenya highlights that many crypto startups create solutions for non-existent problems, hindering their growth. They also face challenges in classification and regulation due to novelty and cross-border issues, but the regulatory sandbox offers a testing ground for innovative ideas.

The Acting Governor of Nigeria's Central Bank announced plans to enhance eNaira adoption through new features like NFC support and improved programmability. Despite reaching 13 million eWallets since its 2021 launch, usage remains low, with the IMF urging better integration with mobile money systems to boost efficiency and attract investment.

Mauritius will pilot its digital Rupee in November 2023, as announced by Governor Harvesh Kumar Seegolam. The Central Bank Digital Currency (CBDC) aims to enhance monetary policy and financial stability while involving commercial banks.

6DOT50, a South African fintech startup, collaborates with BTS and Serti Solutions to facilitate cryptocurrency car purchases at over 1,400 dealerships. Users can transact with various cryptocurrencies while overcoming volatility risks through digital vouchers linked to bank accounts.

Leading Nigerian fintech, MoniePoint, has raised $110 million in Series C funding led by Development Partners International’s African Development Partners (ADP) III fund to accelerate its growth across Africa.
Other participants in the round include:
African private equity firm Verod Capital,

Egyptian fintech startup DoPay has secured $13.5 million in Series A extension funding to enhance its digital payroll platform for unbanked workers. This funding will support expansion in Egypt, promote financial inclusion, and launch new services.

Coinbase is launching 'Base,' an Ethereum Layer 2 blockchain platform aimed at enhancing developer access to decentralized applications (dApps). Currently in testnet, it seeks to make building dApps easier, while integrating with various blockchains and fostering an open ecosystem.

Tether, the leading force in the digital asset industry, has signed a Memorandum of Understanding (MoU) with the government of the Republic of Guinea. This strategic collaboration aims to explore the transformative potential of blockchain and peer-to-peer technologies, fostering economic growth and

The VISA Africa Fintech Accelerator has announced 19 new startups shortlisted to participate in its bi-annual program.
The startups, drawn from 21 African countries and diverse sub-sectors, from embedded finance and SME lending to digital banking, the startups will gain access to tools,

Google has announced a list of 11 African startups to join the Google for Startups Accelerator: AI First program.
The startups, which include Kenyan Blockchain AI startup, Fastagger, will be embarking on a 10-week journey to scale their AI solutions globally and for Africa, Google said. They’ll

TymeBank, a South African challenger bank, plans to enter the Indonesian market by 2024 after successful expansions in the Philippines and Vietnam. The bank aims to capitalize on small business lending opportunities and expects significant growth across Southeast Asia.

MetaMask users in Nigeria can now purchase crypto via instant bank transfers thanks to a partnership with MoonPay, enhancing access to crypto amidst challenges with traditional payment methods. This integration aims to facilitate smoother transactions in the growing Web3 market.

Nigerian digital banking platform, Kredete, has raised $2.25 million in seed funding to help it further scale across the continent.


Key Takeaways
Kredete has raised $2.25 million in seed funding round led by Blockchain Founders Fund
Kredete leverages blockchain technology to enable

Nigerian fintech PayHippo has rebranded to Rivy, raising $4 million to expand clean energy financing. Rivy connects solar vendors with SMEs in Nigeria, addressing electricity shortages and enabling affordable solar solutions. The company aims to strengthen its market presence and support clean energy adoption.