BitKE

Payd, a fintech startup for freelancers, won the Mozilla Africa Innovation Challenge in Nairobi. Co-founded by Japheth Achimba and Benaiah Wepundi, it addresses payment issues faced by freelancers. The startup secured a grant of KES 4 million to enhance its payment platform.

Africa continues to witness a wave of fintech startups offering solutions for different challenges that have bedeviled the financial sector across the continent.
However, the proliferation of the fintech startups has seemingly drawn criticism from some users, with concern that many startups are

The number of active blockchain startups in Africa declined from 42 in 2021 to 37 in 2023, representing 5.5% of total fintech ventures. Despite this, overall fintech startups increased by 17.7%, reaching 678, with significant growth in Nigeria and Egypt.

Ventures Platform, a Pan-African VC firm, has closed its early-stage fund at $46 million, exceeding its $40 million target. The fund will support follow-on investments in key sectors, with a focus on expanding its footprint across Africa.

Luno, the South African crypto exchange, plans to cut 35% of its workforce due to challenges in the crypto market, influenced by the wider tech industry's decline and the fallout from FTX's collapse.

Djamo, an Ivory Coast fintech startup, raised $14 million to enhance financial services for the underbanked in francophone Africa. With impressive growth, it aims for further expansion and diversified offerings, including investments and lending.

Stripe has launched stablecoin-based accounts across over 100 countries, including several African nations, to enhance financial inclusion and offer users a blockchain-powered alternative to traditional banking. This initiative aims to provide easier global commerce and reliable value storage in volatile markets.