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Fintech Alliances in Africa Drive New Growth in Digital Payments

Habeeb Ajala
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Fintech Alliances in Africa Drive New Growth in Digital Payments

Fintech alliances in Africa are continuing to expand as new partnerships focus on improving payments and financial access across the continent.

In the past week, two major fintech alliances in Africa have been announced. One is a card payment partnership in Nigeria, while the other focuses on building financial infrastructure that could be used across Africa.

Card Payments Boost in Nigeria

Mastercard has partnered with BMONI to launch virtual and physical payment cards in Nigeria.

The new service allows users to create multiple naira and US dollar cards that can be used locally and globally. These cards can be generated instantly and managed directly within the BMONI app.

The companies say this is one of the first locally issued international card programmes in Nigeria, made possible by new card systems introduced by Mastercard to support fintech growth.

The solution also gives users more control over their spending by allowing them to create different cards for different needs.

Fintech Alliances Africa Expands Infrastructure Through Paga and Sui

Another key development in fintech alliances in Africa is the partnership between Paga and Sui.

The collaboration aims to build modern financial systems that improve access to digital services across Africa. Nigeria is expected to be the first market where Paga operates under a licence from the Central Bank of Nigeria.

According to Tayo Oviosu, the goal is to solve key financial challenges such as slow cross-border payments, unstable currencies, and limited access to global markets.

New Financial Solutions Under Fintech Alliances Africa

The Paga-Sui partnership plans to introduce several new services.

These include:

  • High-yield US dollar accounts powered by stablecoin technology to protect savings from currency loss
  • Easier systems for converting between local currencies and digital assets
  • Access to tokenised real-world assets, allowing investments from as low as $100
  • Faster and cheaper cross-border payment systems using blockchain

These solutions are designed to improve financial access and support economic participation across the continent.

Africa Fintech Industry Growth

The latest partnerships show that fintech alliances are becoming a key driver of innovation in the financial sector. By combining global payment systems, local fintech expertise, and new technologies, these collaborations aim to make financial services more accessible, flexible, and efficient.

As more partnerships emerge, analysts expect fintech alliances in Africa to play a major role in shaping the future of digital finance on the continent.

Women in AI Africa: Mentorship Gap Slows Entry into Tech Careers

Habeeb Ajala
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Women in AI Africa: Mentorship Gap Slows Entry into Tech Careers
Women in AI Africa are increasing as more young women explore careers in artificial intelligence, but experts say a lack of mentorship is slowing progress for many aspiring professionals.

Across industries such as finance, healthcare, media, and education, artificial intelligence is changing how organisations work and the skills they need. As interest grows, more women are looking to join the field, yet entering AI still feels difficult without proper guidance.

Mentorship Challenges

Experts say the biggest barrier for women in AI Africa is not a lack of talent or interest, but limited access to mentorship, support systems, and clear learning pathways. Many newcomers struggle to understand how to start or grow in the field without experienced professionals to guide them.

This gap has made learning communities and mentorship programmes more important in helping people build confidence and develop practical skills.

DataHER Africa Supports Women in AI Africa

To address this challenge, Amarachukwu Eze has launched DataHER Africa, an initiative focused on supporting women interested in data and artificial intelligence.

The programme aims to help women in AI Africa find clear entry points into the industry through mentorship, community support, and hands-on learning opportunities.

Personal Experience Inspires Initiative

Amarachukwu’s journey from electronic engineering into AI shaped the idea behind DataHER Africa. She explained that moving into data and AI required learning new tools and adapting quickly in a fast-changing field.

Her experience highlighted the need to support women from nontraditional or underserved backgrounds who want to transition into tech careers.

Growing Role of Communities in Women in AI Africa

Across Africa, tech learning communities are becoming more visible as more young people pursue digital careers. Analysts say these platforms help bridge the gap between education and real-world job requirements.

As artificial intelligence continues to expand, experts believe the success of women in AI will depend not just on technology but on how well talent is supported and developed.

Expanding Access to Women

Amarachukwu noted that many aspiring professionals simply need encouragement and direction. She emphasised that talent exists everywhere, but access to opportunity does not.

With rising interest in AI careers, initiatives like DataHER Africa are helping make the industry more open and accessible to women across the continent.

Spam Calls in Africa Surge as Automated Telecom Systems Drive Fraud

Habeeb Ajala
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Spam Calls in Africa Surge as Automated Telecom Systems Drive Fraud

Spam calls in Africa are rising sharply as automated systems linked to telecom networks are increasingly used to send large volumes of unwanted and fraudulent calls across the continent.

A new report by Truecaller shows that spam calls in Africa have entered what it describes as a “machine era,” where technology is used to scale up scams and unsolicited calls. The report measures “spam intensity” as the percentage of unknown calls marked as spam.

Nigeria Hit the Hardest

Nigeria is the most affected country, with 51% of unknown calls identified as spam. This places it among the highest globally. Ethiopia follows with 49%, while South Africa records 30%. Kenya and Ghana have lower levels at 15% and 11%.

The data shows that these spam calls are widespread, but the level of impact varies by country.

A key finding in the report is the strong link between telecom systems and spam activity. In Nigeria, about 35% of spam calls are connected to telecom-related services.

Across the continent, many of these calls are generated by automated systems operating at large network levels. These systems often make it difficult for users to tell the difference between real service messages and spam.

Different Patterns Across African Markets

Unlike other regions where financial scams are more common, spam calls are more often tied to telecom promotions and service-related messages.

However, South Africa shows a different pattern. There, insurance-related calls account for 14% of spam, while financial services make up 10%, showing a wider mix of targets.

Rising User Awareness and Future Risks

The report also notes that Truecaller’s user base in the Middle East and Africa has grown to over 100 million monthly active users by late 2025. This growth reflects increasing concern about spam and fraud.

Looking ahead, experts warn that spam calls could become more advanced. Future scams may use artificial intelligence to create realistic voice calls and smarter tactics to avoid detection.

Telecom Operators Nigeria: FG Warns of Sanctions Over Poor Service

Habeeb Ajala
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Telecom Operators Nigeria: FG Warns of Sanctions Over Poor Service

Telecom operators Nigeria are under fresh pressure as the Federal Government warns of possible sanctions if service quality does not improve. The warning follows ongoing complaints from users about dropped calls, poor voice clarity, and slow internet speeds.

Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, said major telecom operators must act quickly to fix network issues. Affected companies include MTN Nigeria, Airtel Nigeria, Globacom, and 9mobile.

Tijani said telecom operators in Nigeria have benefited from a more stable business environment, with improved profits and increased investment. He explained that this puts a responsibility on them to deliver better services to customers.

The government expects clear improvements in call quality, internet speed, and network coverage in the coming months.

Infrastructure Plans to Support Operators

To support telecom operators in Nigeria, the government is investing in major infrastructure projects. These include funding support from the World Bank and initiatives such as Project BRIDGE.

Plans are in place to roll out nationwide fibre networks, build new telecom towers, and expand satellite connectivity before the end of the year. These steps aim to improve internet access across the country.

NCC to Monitor Telecom Operators

The Nigerian Communications Commission has been empowered to closely monitor telecom operators Nigeria. It will enforce service standards and ensure companies comply with regulations.

Tijani said customer feedback and performance reports will guide regulatory actions. Operators that meet standards will be recognised, while those that fail may face penalties.

Despite reported investments of over $1 billion in network upgrades, many Nigerians still experience poor service. This has increased pressure on telecom operators Nigeria to deliver real improvements.

The latest warning builds on earlier actions by regulators, including stricter Quality of Service rules introduced in 2024 and policies requiring compensation for affected customers.

Macron Urges Stronger Africa-Europe Tech Alliance at Nairobi Summit

Lindsay Eke
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Macron Urges Stronger Africa-Europe Tech Alliance at Nairobi Summit

Emmanuel Macron has called for stronger technology and innovation partnerships between Africa and Europe, saying both regions must reduce their dependence on technologies developed in the United States and China.

Speaking at the Africa Forward Summit in Nairobi on Monday, Macron said Africa and Europe share similar challenges in building independent digital and technological systems.

The French president spoke during a youth engagement session at the University of Nairobi alongside William Ruto.

“A lot of solutions are made in the US or made in China,” Macron said. “A lot of us today are consumers. So, I think we have a common fight, a common battle together of investment, which is to build our strategic autonomy for Europe and Africa.”

Macron stressed that stronger investment in energy and infrastructure is necessary for Africa and Europe to compete in artificial intelligence and digital technology.

“No chance to build any AI infrastructure and computing capacities without energy,” he said, while calling for greater investment in renewable and other energy sources.

The French president also announced plans to deepen cooperation between French and African universities and expand digital skills training across the continent.

According to Macron, Orange Digital Centers plans to help train one million young Africans by 2030 through the creation of 50 new digital centres.

President Ruto said Kenya is continuing to invest in programmes designed to prepare young people for future industries and global technology opportunities.

“Our youth are the present and the future, and we are committed to laying the supportive foundation they need to transform their ideas into solutions for our diverse challenges,” Ruto said.

He also highlighted a partnership between Kenya and France to establish the University of Nairobi Science and Engineering Complex, which he described as an important research centre for Kenya and the wider region.

The two-day Africa Forward Summit, jointly hosted by Kenya and France, has brought together African leaders, global business executives, technology innovators, and development organisations to discuss trade, industrial growth, infrastructure, and investment opportunities across the continent.

Antonio Guterres is among the international leaders attending the summit.

Other African leaders present include Bola Ahmed Tinubu, Bassirou Diomaye Faye, Brice Oligui Nguema, Julius Maada Bio, Joseph Boakai, and Alassane Ouattara.

Aziz Akhannouch and Navinchandra Ramgoolam are also participating.

Organisers said more than 30 African heads of state and government are expected to attend the summit, which focuses on strengthening industrial partnerships, increasing investment, and accelerating infrastructure and technology development across Africa.

OPay U.S. IPO: A Major Test for African Fintech Investment

Habeeb Ajala
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OPay U.S. IPO: A Major Test for African Fintech Investment

Plans by OPay to launch a U.S. initial public offering (IPO) could mark a turning point for Africa’s fintech industry. If successful, the move may reshape how global investors view technology companies from Nigeria and the wider continent.

Reports suggest OPay is preparing for a U.S. stock market debut with a valuation of about $4 billion. The company is said to be working with major financial institutions, including Citigroup, JPMorgan Chase, and Deutsche Bank. Although no official filing has been made, the plan has already attracted strong attention from global investors.

OPay U.S. IPO Signals New Path for African Tech Listings

For many years, African fintech companies raised money mainly through private investors but found it difficult to enter major public stock markets. The OPay U.S. IPO could change this trend by showing that African tech firms can meet global listing standards.

Analysts say a successful IPO would set a clear valuation benchmark for other African startups. It could also encourage more fintech companies across the continent to consider listing on international exchanges.

OPay U.S. IPO Comes Amid Shifting Investor Sentiment

The timing of the OPay U.S. IPO is important. Investment in African startups has slowed in recent years due to global economic uncertainty, rising interest rates, and inflation. Many investors have become more cautious.

However, OPay’s plan suggests there is still strong interest in African digital businesses, especially those focused on payments and financial inclusion. Investors are looking for companies with proven scale and steady growth.

Nigeria’s Fintech Market at the Centre of Growth

Nigeria remains Africa’s largest fintech market, driven by its large population, increasing smartphone use, and growing demand for digital financial services. OPay has built a wide network across the country, offering mobile wallets, payment services, agency banking, and point-of-sale terminals.

The company’s growth reflects wider changes in Nigeria’s financial system. Policies by the Central Bank of Nigeria have encouraged cashless payments and improved access to financial services in recent years.

Challenges

Despite the opportunity, the OPay U.S. IPO will bring new challenges. Public investors will look closely at the company’s profitability, governance, regulatory compliance, and long-term sustainability—not just user growth.

Currency volatility linked to the Nigerian naira could also affect investor confidence. In addition, competition in Nigeria’s fintech sector is growing, with companies like Moniepoint, PalmPay, and Kuda expanding rapidly.

Wider Impact of the OPay U.S. IPO

The importance of the OPay U.S. IPO goes beyond one company. A successful listing could improve how global investors see African technology firms and attract more international capital to the continent.

It may also push African regulators and policymakers to improve transparency, governance, and capital market systems to support tech companies.

For Nigeria, the IPO could strengthen its position as a leading fintech hub in Africa. It would show that local digital companies can compete globally and attract large-scale investment.

As investors wait for official filings, attention is focused on whether OPay moves forward with the listing and how global markets respond to what could become one of Africa’s biggest fintech IPOs.

EdVentures has won the Global Investor of the Year award at the Global Startup Awards 2026

Lindsay Eke
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EdVentures has won the Global Investor of the Year award at the Global Startup Awards 2026

EdVentures has won the Global Investor of the Year award at the Global Startup Awards 2026, marking a major international achievement for Egypt’s growing technology and startup ecosystem.

The award was presented during the EU-Startups Summit 2026 held in Malta.

EdVentures is the investment arm of Nahdet Misr Group and focuses on supporting education technology startups and innovation-driven learning solutions across emerging markets.

The recognition follows earlier wins where EdVentures was named both MENA Investor of the Year and Africa Investor of the Year before advancing to secure the global title.

The Global Startup Awards is regarded as one of the world’s largest independent startup competitions, connecting innovation ecosystems across 154 countries. According to organisers, this year’s competition attracted more than 70,000 applicants from 62 countries across several categories.

The award highlights the growing importance of investment in human capital, digital learning, and future skills as countries and businesses adapt to changing economic and technology trends worldwide.

Dalia Ibrahim, who also serves as Chief Executive Officer of Nahdet Misr Publishing House, said the company was created with a focus on investing in people and helping innovators build scalable education and skills solutions.

“EdVentures was built on the belief that the future of economic growth depends on our ability to invest in people and unlock human potential,” she said.

Since its launch, EdVentures has expanded beyond traditional venture capital activities into broader ecosystem development. The company said it has supported 108 startups and invested directly in 29 companies operating in more than 25 countries.

According to the company, startups within its portfolio have collectively reached tens of millions of learners and helped create more than 52,000 jobs through solutions focused on education, employability, and skills development.

EdVentures provides funding, mentorship, market access, partnerships, and other forms of support to startups working in education technology and workforce development across Egypt, Africa, the Middle East, and other emerging markets.

The award also strengthens Egypt’s growing reputation as a regional centre for innovation, entrepreneurship, and technology investment, particularly in sectors linked to education and human capital development.

Africa Forward Summit 2026: Kenya and France Launch New Economic Partnership

Habeeb Ajala
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Africa Forward Summit 2026: Kenya and France Launch New Economic Partnership

William Ruto and Emmanuel Macron have officially opened the Africa Forward Summit 2026 in Nairobi, marking a major shift in how Africa and Europe work together. The focus is now on investment and shared growth, rather than aid.

The event, held at the Kenyatta International Convention Centre, has brought together over 4,000 delegates. Among them are about 30 African heads of state and António Guterres. Leaders are discussing new ways to build strong economic ties that benefit both continents.

Africa Forward Summit Signals Shift in Global Relations

For many years, meetings between France and African countries were held mainly in Paris or former French colonies. Hosting the Africa Forward Summit 2026 in Nairobi shows a clear change. It highlights the growing importance of East Africa in global affairs.

President Macron said African challenges must be treated as global issues. The summit shows that Africa is no longer just receiving support but is now shaping international decisions. Experts believe this change could influence global partnerships for years to come.

Africa Forward Summit Agreements Focus on Key Sectors

A major outcome of the Africa Forward Summit 2026 is the signing of 11 agreements between Kenya and France. These deals focus on areas that can drive economic growth and improve daily life.

One key project is the upgrade of Nairobi’s commuter rail system, aimed at improving transport, reducing traffic, and cutting pollution.

Other focus areas include:

  • Urban transport: KES 12.5 billion investment in rail infrastructure
  • Energy: Expansion of wind power and talks on peaceful nuclear energy
  • Technology: Development of artificial intelligence and better digital access
  • Agriculture: Boosting Kenyan tea exports and supporting farmers

These agreements are designed to promote shared investment and avoid heavy debt.

What the Africa Forward Summit Means for Citizens

The real impact of the Africa Forward Summit 2026 will depend on how it improves people’s lives. Leaders say investments in technology and innovation could create jobs, especially for young people.

Kenya is positioning itself as a hub for digital growth, supported by strong mobile internet use and a growing startup scene. At the same time, plans for agriculture and the blue economy aim to improve food security and address climate challenges.

If properly implemented, experts say these efforts could reduce unemployment and create new opportunities.

Africa Forward Summit’s Wider Impact Across the Continent

The Africa Forward Summit 2026 is expected to produce a “Nairobi Declaration,” which will outline a new plan for global economic cooperation.

African leaders are calling for fairer financial systems, arguing that current global rules make borrowing expensive for developing countries. There is also a push for African nations to work together when negotiating with global partners to secure better deals.

From Plans to Action

As the summit continues, attention is shifting to implementation. The agreements must be backed by clear policies, transparent processes, and proper funding.

Leaders from both Africa and Europe will be judged on how well they deliver. If successful, the Africa Forward Summit 2026 could mark the start of a stronger and more balanced global partnership.

Uganda’s MAM Telecom Expands Payment Infrastructure Plans Ahead of East African Growth

Lindsay Eke
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Uganda’s MAM Telecom Expands Payment Infrastructure Plans Ahead of East African Growth

Ugandan fintech infrastructure startup MAM Telecom Ltd is building a broader payment and settlement system aimed at fixing long-standing problems in Uganda’s mobile money sector while preparing for expansion across East Africa.

The company is also positioning its cross-border remittance platform, MAM Fex, for rollout into other regional markets.

MAM Telecom’s infrastructure plans cover several parts of the digital payments system, including agent liquidity management, payment settlement rails for financial service providers, merchant payment support, enterprise payment services, and cross-border money transfers.

The move reflects growing demand for stronger financial infrastructure across Sub-Saharan Africa, where mobile money usage has expanded quickly but supporting systems have often struggled to keep pace.

According to the company, many mobile money agents in Uganda still face serious operational challenges. These include shortages of float, which limits their ability to process transactions, fragmented settlement systems that increase reconciliation costs, and poor real-time visibility into liquidity levels across agent networks.

Such problems are common across East Africa’s mobile money industry, especially among smaller operators outside the coverage areas of major telecom companies.

Founder and Chief Executive Officer Milon Ahabwe Mutebile said the company sees major opportunities in improving the infrastructure behind digital financial services.

“We believe there is significant opportunity in strengthening the infrastructure layer behind digital finance, particularly around liquidity coordination, settlement reliability, and affordable cross-border money movement,” he said.

MAM Telecom’s remittance product, MAM Fex, is being designed with lower transfer costs in mind. The company said it plans to charge fees of around 0.7% to 0.9% across targeted transfer corridors. This is lower than the 3% to 5% fees often charged by traditional providers for regional money transfers in East Africa.

According to World Bank estimates, Uganda received about $1.4 billion in remittance inflows in 2024. The East African corridor, including Kenya, Tanzania, and Rwanda, remains an important market for affordable digital money transfer services.

MAM Telecom said its short-term priorities include meeting regulatory requirements, improving operational readiness, and attracting investors before beginning wider regional expansion.

The startup is currently working with FasterCapital through its EquityPilot programme, which supports early-stage companies with fundraising and strategic development.

Hesham Zreik said the company is addressing important gaps in financial services infrastructure, particularly around payments and liquidity management.

WAWU Africa Launches ₦250,000 Startup Grant Programme for Nigerian Entrepreneurs

Lindsay Eke
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WAWU Africa Launches ₦250,000 Startup Grant Programme for Nigerian Entrepreneurs

WAWU Africa has announced a new business support programme that will provide ₦250,000 startup grants to 20 Nigerian entrepreneurs in June 2026.

The initiative is aimed at helping small businesses grow while encouraging entrepreneurship and skills development across Nigeria.

According to the organisation, the programme is designed for people who are serious about building sustainable businesses and willing to complete training, gain certification, and prepare proper business plans before seeking funding support.

WAWU Africa stressed that the programme is not based on political connections or personal influence. Instead, applicants will be assessed based on their level of preparation, business readiness, commitment to learning, and ability to build businesses that can create long-term impact.

To qualify for the ₦250,000 grant, applicants must complete a Diploma Training in Business or Entrepreneurship offered through the WAWU Africa and Alison learning platform. Participants are also required to obtain certification after finishing the course.

In addition, applicants must own a registered business, prepare and submit a business plan, join the organisation’s WhatsApp community, and maintain an account with one of the programme’s partner banks before they can be considered for funding.

The application portal is expected to open on May 30, 2026, giving interested entrepreneurs time to complete the required training and organise their business documents.

WAWU Africa said the initiative forms part of its wider mission of building Africa’s largest skilled workforce by supporting Nigerians who are ready to learn, prepare, and grow businesses despite current economic challenges.

“This is not about connections or politics. It is about preparation, learning, vision, and readiness to build,” the organisation stated.

The programme reflects the growing focus on entrepreneurship development and small business support in Nigeria, especially as many young people turn to business ownership and digital skills as alternative paths to economic opportunity.

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