In the first half of 2023, African fintech funding was dominated by banking and lending, which received 66% of total funding, while crypto and blockchain fell to 2%. Egypt led with $402 million in funds, followed by South Africa, Kenya, and Nigeria.

Nigerian fintech Grey has raised $2 million to enhance its virtual currency services for digital workers. This includes free foreign bank accounts, easy currency conversion, and expanded operations in East Africa, starting in Kenya.

AgriDex, a Solana-based agricultural marketplace, says it has processed more than $9 million in stablecoin-powered trades so far as it seeks to bring blockchain payments to the $2.7 trillion global agricultural market.

The milestone comes after a $1.5 million cross-border deal in grain and

Duplo, a Nigerian fintech, has raised $4.3 million to enhance payment solutions across Africa. With 1,000% client growth and 5,000% increase in transactions, it digitizes payments for FMCG distributors and automates financial processes for businesses.

Lipa Later, a Kenyan BNPL platform, raised $3.4 million in debt funding to expand services and enhance financial inclusion. The firm plans further fundraising and emphasizes growth within the African fintech landscape.

Visa has unveiled its latest initiative, the Visa Africa Fintech Accelerator program, aimed at supporting and empowering Africa’s expanding startup ecosystem.
According to the fintech giant, the program offers expertise, connections, technology, and investment funding to enable the growth and