Paystack fined ₦250m as CBN tightens fintech oversight in Nigeria
The CBN imposed a ₦250 million fine on Paystack for operating its Zap product without the appropriate license. Zap, a peer-to-peer money transfer app, requires a microfinance or banking license to function as a wallet.
BREAKING: Moniepoint launches remittance product
Moniepoint launched its remittance product, MonieWorld, for users in the UK to send money to Nigeria. The app was promoted offline by influencers prior to its public release.
How Moniepoint is going after remittances with Monieworld
Moniepoint launched Monieworld, enabling UK residents to send money to Nigeria via various payment methods. A live demo showed a transaction taking just 17 seconds, with competitive conversion rates compared to other platforms.
Visa-backed African unicorn Moniepoint tackles remittances. But is it late to the game?
Visa invested in Nigerian fintech Moniepoint, validating its status as a unicorn and signaling a new direction. Moniepoint launched MonieWorld, targeting the UK-Nigeria corridor for diaspora-focused financial services.
Moniepoint investor takes over Egypt’s $105M Nclude with new venture fund
DPI has taken over the management of Egypt’s $105 million Nclude Fund. Nclude was established in March 2022 by Egyptian state-owned banks and fintech partners.
