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Canza Finance, a Web3 neobank for African startups, has raised $2.3 million. Funds will help obtain licenses across Africa and develop a DeFi platform called Baki.

Nigerian exchange Patricia faces backlash over converting customer assets to a new token. Company now seeks funding to repay $2M lost in cyberattack. Customers demand transparency and repayment timeline. CEO claims funds raised, promises quick refunds via new app, but customers remain unsatisfied. Some consider protesting or legal action.

Capitec Bank announced restricting customers from sending funds to crypto exchanges to prevent fraud, advising the use of their service instead. Some in the crypto community argue the alternative is costly and unnecessary, especially as other banks allow crypto funding. Ehsani from VALR suggests educating clients rather than imposing limitations.

Nium, a global infrastructure for real-time cross-border payments, announced a partnership with Ecobank Transnational Incorporated, an independent pan-African financial services group, to enable seamless cross-border payments across 35 African markets for more than 32 million customers.
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Chipper Cash, a cross-border financial platform, has downsized 1/3 of its employees due to a need for a smaller team post rapid growth. Despite staff reductions, the company remains committed to its crypto offerings and continues to invest in this sector.

Safaricom reduces interest rates on loans below 1,000 Ksh for its Fuliza micro-loans facility in partnership with local banks, benefiting borrowers with lower charges. The move aims to make credit more accessible and affordable for Kenyans.

WorldCoin, the cryptocurrency project linked to OpenAI CEO Sam Altman, is set to restart operations in Kenya after police closed their investigation into alleged data collection violations. They are advised to ensure proper registration, licensing, and vendor vetting. The company expresses gratitude and commitment to resume ID registration in Kenya soon.

Carbon, a Nigerian fintech firm, has ceased its debit card services in Nigeria after two years due to doubts about the strategy's effectiveness among neobanks.

Vitalik Buterin criticizes the rising transaction fees on blockchain networks like Ethereum, which are hindering the democratizing vision of cryptocurrencies. High fees have limited usage to speculative traders, impacting the industry's growth and adoption.

The USAID Women Entrepreneurship Incubator Program (WEIP) is a transformative initiative aimed at supporting Women-Owned Small and Growing Businesses (WO-SGBs) across Kenya by providing resources, mentorship, and financial support to help entrepreneurs scale and succeed.
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Yuki partners with Aladdin Digital to offer digital assets to African fintech firms, making it easy to create unique crypto solutions. This collaboration aims to bring digital assets to over 75,000 users in Africa through intuitive user experiences.