
AfricaWorks Insights
May 23, 2025 at 02:42 PM
💳 Cyprus-based fintech SPAYZ.io expands into South Africa, Egypt, and Cameroon targeting Africa's $1.5 trillion digital payments market by 2030 🌍 The company will launch EFT transfers in SA's $158B card market, enter Egypt's $104B digital space, and tap Cameroon's mobile money dominance (71% of CEMAC transactions) 🚀
💳 Kredete launches Africa's first stablecoin-backed credit card (built with Visa, Stellar, and Rain) for users across 41+ African countries to spend USDC globally at 150M+ merchants with real-time settlement 🌍 The card addresses high fees and limited access issues by combining US dollar-backed stablecoins with instant blockchain settlement, serving freelancers, families, businesses, and students across Africa 🚀
💰 Egyptian fintech ElGameya raises seven-figure funding led by AYADY for Investment and Development to modernize traditional Rotating Savings and Credit Association (ROSCA) model through mobile app 🇪🇬 Founded in 2020, the startup has achieved 50% month-on-month growth with 1M registered users and partnerships with 150+ companies/schools, offering customizable savings circles for education, marriage, and business goals 📱
🚢 Regional Maritime Development Bank (RMDB) officially launches operations in Nigeria after 16 years of development, aimed at boosting regional trade and maritime sector economic growth 🇳🇬 Marine and Blue Economy Minister Adegboyega Oyetola announced the milestone, emphasizing it ends institutional deadlock and reaffirms Nigeria's commitment to regional integration and economic cooperation ⚓
