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New rules for digital lenders in Kenya aim to weed out bad actors while bolstering sector growth

TechCrunch

Fresh regulations are often met with skepticism from startup founders, but digital lenders in Kenya largely seem to be upbeat about the new Digital Credit Providers law, saying it will bring order to the sector.

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Tanzanian fintech NALA raises $10M seed to build Revolut for Africa

TechCrunch

NALA , a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. to East African countries (Kenya, Uganda and Tanzania), thus ushering the Tanzanian fintech into the remittance business. and the E.U., and the U.S.

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PawaPay raises $9M seed backed by MSA, 88mph and Mr Eazi’s Zagadat Capital

TechCrunch

PawaPay handles local operations, compliance, regulatory cover and bank accounts, making it simple to receive payments in a new market. Barnwell tells TechCrunch that although these transaction volumes look impressive, pawaPay would have done more if not for regulatory hurdles and licensing approaches in each market. .

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Smile Identity expands African footprint with acquisition of Appruve to strengthen ID verification services

TechCrunch

These are relevant localized data that have long been left out of the bigger pool of KYC and fraud prevention. Fraud data, mobile money data, government data queried against national ID systems, AML, PEP screening checks, sanction screening, both global and local KYB business verification data.

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Ghanaian agtech Farmerline to use new funding to strengthen its infrastructure, help farmers create wealth

TechCrunch

Kenya-based agritech Apollo raises $40 million in Softbank-led round, joined by Chan Zuckerberg Initiative, CDC. The partnership with retailers, said Attiah, emerged after Farmerline realized that working directly with the farmers would amount to “competing with local businesses, and it didn’t make any sense.

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MARA raises $23M from Coinbase Ventures and FTX to build Africa’s portal to the crypto economy

TechCrunch

But despite the proliferation of local and foreign crypto exchanges and the introduction of novel models by up-and-coming web3 platforms, some observers believe there are still notable barriers to using crypto in Africa. “We To that end, the local knowledge and specialized skills of the MARA team is quite promising.”

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Ghanaian fintech SecondSTAX allows investors to access capital markets outside their countries, raises $1.6M

TechCrunch

While local retail apps such as Bamboo and Chaka offer U.S. That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million. “I Nigeria is a silo, same with Ghana, Kenya and South Africa etc. In 2018, a landmark event tilted his journey into building SecondSTAX.