The increase in deposits from R6.3bn ($347.11m) in June 2024 reflects the continued growth of the digital lender, which reached a milestone of 10.7m customers by the end of December.
This latest commitment from BII follows the fund’s initial close last year, which saw it raise $140 million from a diverse range of international and African investors.
Launch Base Africa has carefully selected a comprehensive list of over 140 of the most recent investor dry powder funds aimed at African startups in 2025.
Before its demise, YallaXash boasted an extensive network of over 12,000 physical payout locations in Morocco through partnerships with local financial institutions and cash transfer services.
The recent green light from Egypt’s Financial Regulatory Authority (FRA) for a raft of new fintech licenses hints at the favorable regulatory environment in SWVL’s home market.
The Averroès Fund of Funds operates as an intermediary, strategically investing in various African-based funds rather than directly into individual companies.
If MTN MoMo were granted a license to facilitate direct transfers between Ghana and Nigeria, it could reduce reliance on traditional remittance networks.
This surge in fintech licensing comes on the heels of the FRA’s decision last year to grant a one-year extension for non-banking finance companies to meet increased capital requirements.
A brokerage licence grants firms the authority to buy and sell securities on behalf of clients, act as intermediaries in financial markets, and charge commissions and fees.
If MTN MoMo were granted a license to facilitate direct transfers between Ghana and Nigeria, it could reduce reliance on traditional remittance networks.
Headquartered in Johannesburg, Trade Shield currently employs a team of approximately 45 professionals, including trade credit experts, data scientists, software developers, sales executives, and customer support staff.
