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SIMAD iLab, a tech hub established by SIMAD University in Mogadishu, has seen substantial growth in five years, supporting startups and creating jobs. Its recent upgrade enhances its role in Somali innovation, making it one of Africa's top tech hubs.

Kenyan fintechs M-PESA and Pezesha are launching Mkopo wa Pochi, a credit service for small business owners to borrow through M-PESA accounts. Available from June 2024, it aims to utilize both firms' strengths, offering quick loans with flexible terms and a credit assessment process.

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.

Safaricom PLC's H1 2024 profits dropped 17.7% to KES 28.1 billion due to the Ethiopian Birr's depreciation. Despite this, subscriber growth rose significantly in Ethiopia, increasing customer engagement and revenue in key offerings like voice and mobile data.

GPT COIN is an innovative payment system leveraging blockchain and AI for secure, fast transactions worldwide. Currently in pre-sale, it offers exclusive discounts to early investors, promising a revolution in financial technology.

NALA, currently one of the most successful fintechs across Africa, has disclosed that it is building infrastructure for on-and-offramp for stablecoins and fiat conversions for its customers.
While announcing record revenue for its payment platform, Rafiki, NALA CEO, Benjamin Fernandes, said the

Starting January 29, 2024, Google will allow ads for U.S. 'Cryptocurrency Coin Trusts,' defined as investment products holding digital currency reserves. These trusts must register with the SEC and undergo certification.

South Africa’s Financial Sector Conduct Authority (FSCA) has approved 300 crypto asset service providers (CASPs) since the country formally began licensing the sector in mid-2023, underscoring both rapid industry uptake and intensified regulatory scrutiny .
The licensing process, which commenced on

Tether reported a record $13 billion profit in 2024, bolstered by a $113 billion U.S. Treasury portfolio and $45 billion in USDT issued. The company's growth highlights its significant role in the digital asset space, especially in emerging markets.

Safaricom has set a 3-year limit on redeeming its loyalty program, Bonga Points, due to increasing unclaimed points, now worth $36 million. Users can now redeem points for various products, including airtime and plane tickets, to enhance engagement and revenue recognition.

Zazuu, a London fintech focused on African remittance, has shut down after raising over $2 million due to insufficient funding, despite exploring all options.