More fintechs target African consumers and institutions

More fintechs target African consumers and institutions

Two recent announcements underline the continuing drive on the part of fintech groups to bring their technology to African institutions and consumers.

Skaleet, an international fintech providing a next-generation core banking platform, has partnered with Mobiblanc, a leading digital solutions player in North and West African countries.

The companies say the partnership will ensure that financial institutions have the capacities to launch new digital and innovative financial solutions that they can provide to their customers, whether businesses or individuals.

Skaleet enables retail banks and financial institutions to launch new banking products and services for their customers at a competitive price. Through its core banking platform Skaleet says it offers innovative and scalable banking solutions that are built end-to-end and tailored to each customer.

Meanwhile fintech start-up MooveBeta, has announced a merger with ImpalaPay, a fintech blockchain company with operations across 42 African countries and 134 countries worldwide.

The merger, say the partners, will provide a payment platform that will enable the pan-African and diaspora communities to transact via e-commerce, social commerce, peer to peer and enterprise using multiple interoperable platforms including mobile money, cards, bank accounts and/or crypto wallets powering over 500 million people. A first phase roll-out will address 17 African countries.

MooveBeta’s e-commerce and fintech offering, which helps users move value using a voucher system, has been incubated at Kenyan venture building studio Adanian Labs for six months. The aim is to empower consumers with the ability to send micro transactions via mobile money from anywhere on the globe to Africa and within Africa. 

ImpalaPay has been operating B2B payments on behalf of Airtel and IMT partners across 17 countries in Africa. It has also managed interoperability between Airtel and M-Pesa, UBA and Africash, powering more than 200 million wallets and with over US$1.8 billion of transactions between 2018 and 2021.

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