Equity Bank is a major player in East Africa, known for its focus on SME financing and partnerships that enhance access to digital financial services.
Tanzania’s NALA enters Kenya with Equity Bank, Pesalink partnership
NALA has expanded into Kenya through a partnership with Equity Bank and Pesalink. The partnership allows for real-time fund transfers to mobile wallets or bank accounts.
Seven African banks supporting startups and SMEs
Standard Bank acquired Firepay in December 2016, showcasing traditional banks' entry into the fintech boom. Equity Bank partnered with Mastercard to launch e-commerce payment solutions for SMEs in Kenya.
Next Wave: Banks built the trust. Now they’re building the tech
Kenya's Absa Bank reported that over 90% of customer transactions were happening outside physical branches in 2024. GTBank in Nigeria grew its active digital user base by 38% year-on-year due to a revamped mobile app and chatbot assistant.
Next Wave: Unlocking alternative funding streams for African startups
In 2024, African startups raised $3.2 billion across over 182 equity and debt funding deals. Fintechs and e-commerce companies accounted for 75% of total funding to African founders between 2019 and 2023.
