Business
Fintech platform MortgageMarket has deployed an AI Agent in South Africa that automates data entry and document validation across home loan applications. It processes tax records and bank statements directly into underwriting systems, which should shorten approval times. Separately, Momentum Corporate has acquired full ownership of financial services provider Verso Group for R26.25 million.
The Central Bank of Kenya (CBK) has licensed 29 more Digital Credit Providers (DCPs), which brings the number of fintech lenders under its direct oversight to 281. At the same time, newly proposed payment regulations would require open data sharing between commercial banks and digital payment platforms. The licensing formalizes Kenya's digital lending sector and limits the reach of unauthorized lending apps.
Former Central Bank of Kenya Governor Patrick Njoroge has submitted a regulatory proposal urging lawmakers to require mobile money operators such as M-Pesa and Airtel Money to pay interest on customer wallet balances. The argument is that stored value in a wallet works like a bank deposit and should earn a return for its owner. The public can submit feedback on the draft financial bill through early October 2026.
Ramp has spent years helping companies manage money going out. Its new Accounts Receivable product is an attempt to help businesses manage money coming in too.
Yellow has closed a Series C backed by Convergence Partners and SSI as it scales asset financing for smartphones and solar systems across seven African markets.
OPay is preparing for a US IPO, Airtel Money is targeting London and PalmPay is exploring Hong Kong. Africa's fintech exit problem is becoming visible.
Safaricom's appointment of two senior Vodacom executives is more than a routine board refresh. It shows how the telco's new majority ownership is beginning to shape governance.
Six Nigerian fintechs made CNBC and Statista's 2026 World's Top Fintech Companies list, over half of Africa's 11 entries, cementing Lagos as the continent's fintech capital.
The metal card targets high-value Kenyan customers with lounge access, concierge services and high credit limits. The real story is the race to own premium digital banking relationships.
Safaricom shareholders will vote on fourteen resolutions that turn Vodafone Kenya's 55 percent stake into formal boardroom control.
Kenya's Finance Act 2026 expands the definition of royalty to cover software and digital-platform payments, changing the tax treatment of many cross-border contracts.
African fintech is moving beyond payment apps into credit, B2B infrastructure, embedded finance, and debt-funded models built around real cash flows.
The Bank of Tanzania has opened applications for the third cohort of its fintech regulatory sandbox, with submissions due by July 31, 2026.
Nigerian businesses are using stablecoins as a bottom-up workaround for dollar scarcity, slow settlement, and cross-border payment friction.
Phase II of the African Exchange Linkage Project expands the network to 11 exchanges and more than 50 brokers, pushing African capital markets closer together.
African fintech is consolidating fast as stronger companies buy data rails, licences, local footholds, and distressed rivals.
Kenya's Nairobi International Financial Centre has certified 15 firms in AI, fintech, digital assets, and capital markets, with projected investment of about Sh25.9 billion.
Kenya has received about Sh244.5 billion from the Vodacom Safaricom transaction, with the money headed into the National Infrastructure Fund.
Vodacom now controls about 55% of Safaricom after completing a $2.1 billion transaction, while Kenya's government keeps a 20% stake.
Airtime and data lending has resumed in Nigeria after a suspension linked to FCCPC digital-lending rules and a court fight.
