BitKE

NeoNomad, a South African DeFi startup, launched ZARCoin (ZARC), a stablecoin pegged to the Rand, on July 11, 2024. It aims to enhance financial inclusion through low-cost transactions, targeting both the banked and unbanked populations, while challenging traditional banking models.

Ghana-based fintech, ZeePay, has secured $18 million in senior secured debt funding, aimed at scaling its digital payment infrastructure and meeting the liquidity demands of real-time remittance flows – drawing parallels with how crypto protocols manage liquidity and settlement.
Founded in 2014, Ze

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.

BitMama, a Nigerian crypto platform, has acquired the cross-border payments app PayDay for $1 million in equity at a $30 million valuation. This acquisition allows BitMama to enhance its services without developing new software or acquiring users for its product, Changera.

The Central Bank of Nigeria (CBN) has announced the implementation of its digital currency, known as the eNaira, as a payment alternative for recipients of diaspora remittances.
This means that individuals receiving remittances from abroad now have the option to receive their funds in eNaira.
CBN

Anton Bukov of 1inch discussed the cost advantages of decentralized finance (DeFi) over traditional banking, highlighting DeFi's potential to onboard users at no cost compared to high fees in traditional systems. He emphasized DeFi's role in including the unbanked and creating global liquidity.

Qala has been acquired by Btrust to enhance Bitcoin development in Africa. Rebranded as Btrust Builders, the program aims to leverage financial resources and structured training to cultivate African Bitcoin engineers, addressing funding challenges faced by Qala.

One million Nigerians downloaded the eNaira wallet in its first year, with 700,000 transactions worth $18.3 million reported. However, some residents criticize late sensitization efforts, while experts attribute slow adoption to bank apathy and competition from mobile banking apps.