|
Flutterwave Inc., a Nigerian payments firm, is seeking fresh funding at a valuation of $3 billion or more, a figure that would roughly triple its last valuation, according to people with knowledge of the matter.
The startup, which has offices in Lagos, Nigeria and San Francisco, recently held discussions with potential investors, the people said. Terms of the funding round haven’t been finalized, and it’s possible they may change… More details through: https://www.bloomberg.com/news/articles/2021-10-14/nigeria-s-flutterwave-in-talks-to-triple-valuation-to-3-billion
0 Comments
Nigerian art dealer Ebuka Joseph started using cryptocurrencies last year when business ground to a halt due to COVID-19. Now he is hooked even though the financial authorities disapprove.
“Crypto just allows me to transact freely and within minutes we are done with our transactions,” the 28-year-old told Reuters from a friend’s studio in Lagos where he displays his works. Nigeria’s Central Bank barred local banks from working with cryptocurrencies in February, warning of “severe regulatory sanctions” and freezing accounts of firms it says are using them… More details through: https://www.reuters.com/article/idUSKBN2H20VM Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has advised banks to adopt technology tools to enhance the country’s payment services, noting that payment services has attracted investment of about $500 million in firms operated by Nigerian founders.
He made the disclosure at the 31st seminar for financial correspondents and business editors in Enugu on Wednesday. Emefiele, who was represented by the Deputy Governor, Corporate Services, Mr Edward Adamu, explained that the country’s payment method had traction and huge confidence from the global financial services ecosystem between 2015 and 2020… More details through: https://www.sunnewsonline.com/investments-in-electronic-payment-systems-hit-500m-cbn/ Nigeria’s financial technology (fintech) firms attracted an investment of $500million between 2015 and 2020 owing to improvement in the ecosystem.
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele stated this yesterday at the bank’s 31st seminar for financial correspondents and business editors in Enugu. In his keynote speech at the event themed ‘Trends in Nigerian Payments System: Regulating the Fintech Digital Playing Field’, Emefiele said the sector has recorded tremendous growth in the past few years and that the apex bank would continue to ensure timely regulatory intervention to protect consumers and the industry… More details through: https://guardian.ng/business-services/nigerian-fintechs-receive-500m-in-five-years-says-emefiele/ The Nigerian Exchange Group will review membership rules to lure tech unicorns and other companies to list on Africa’s second-biggest stock exchange, where there’s been a lull in new offerings.
The Lagos-based bourse plans to ease requirements such as track record of profitability and the quarterly filing of financial statements, Olumide Bolumole, the divisional head of listings at NGX, said at a virtual conference on Thursday… More details through: https://www.bloomberg.com/news/articles/2021-09-30/in-bid-to-lure-tech-unicorns-nigeria-bourse-reviews-ipo-rules Bank customers in the country transferred a total of $10.24 billion (N4.2 trillion) over mobile devices in the last eight months, New Telegraph has learnt. The January to August record represents 162 per cent growth over N1.6 trillion recorded in the same period last year.
With this record, the value of mobile transfers in the eight months has surpassed the total value recorded in full-year 2020, which stood at N3.05 trillion. According to statistics released by the Nigeria Inter-Bank Settlement Systems (NIBSS), the volume of the mobile inter-scheme transactions also rose by 114 per cent from 75 million recorded between January and August last year to 161 million in the same period of 2021… More details through: https://www.newtelegraphng.com/mobile-transfers-hit-n4-2trn-in-8-months-nibss/ SympliFi, a United Kingdom-based Fintech company and AXA Mansard, a member of the global leader in insurance and asset management – AXA, have entered into a partnership to offer loan services whilst also providing access to insurance and health care through SympliFi’s digital platform.
A vast majority of Nigerians lack access to credit and health care, which hinders their ability to improve their livelihood. According to a statement, the SympliFi-AXA Mansard partnership is built on a shared interest in empowering Nigerians to transform their lives and improve their wellbeing, by enabling access to critical financial and health services… More details through: https://punchng.com/uk-based-fintech-partners-axa-mansard-to-boost-insurance-in-nigeria/ Total value of dollar remittances by Nigerians working oversea has surged to $34 billion, a figure that easily surpassed the previous record-high of $25 billion, according to a report.
The increase, which has been attributed to the Central Bank of Nigeria (CBN)’s “naira for dollar” incentive scheme, again highlights the growing importance of diaspora remittances to Africa’s most populous country. An economist with Adedipe Associates Limited, Mr. Biodun Adedipe is quoted to have explained that the CBN’s incentive scheme may well be the reason why the target of $34 billion in annual diaspora remittances was reached two years ahead of schedule… More details through: https://www.sunnewsonline.com/annual-dollar-remittances-to-nigeria-surge-to-34bn/ Nigeria’s central bank selected Bitt Inc. as a technical partner to help create its digital currency by the end of the year.
The Barbados-registered financial technology company will help the regulator to launch the new currency, named eNaira, Central Bank Governor Godwin Emefiele said in an emailed statement Monday. The company was picked for its “technological competence, efficiency, platform security, interoperability, and implementation experience,” Emefiele said in the statement… More details through: https://www.bloomberg.com/news/articles/2021-08-30/nigeria-central-bank-selects-fintech-to-launch-digital-currency The Nigerian Diaspora population remitted $65.34bn in three years to boost economic activities in the country, data obtained from the World Bank have shown.
According to the World Bank data, in 2018, the Nigerian Diaspora remittance was $24.31bn; in 2019, it dropped to $23.81bn; and in 2020, it fell to $17.21bn. Remittance inflow made up 4% of Nigeria’s Gross Domestic Product in 2020… More details through: https://punchng.com/nigerians-in-diaspora-remit-65-34bn-in-three-years/ |
Categories
All
Archives
October 2021
News Archive from before July 2018
|
RSS Feed