This decision, while intended to curb financial crime, will disrupt the seamless flow of funds that has long characterized the region.

According to the World Bank, remittances to the region surpassed $54 billion in 2023 and are expected to continue rising in the coming years.

T-Vencubator aims to invest in 5 Egyptian startups by 2025, providing them with the investment capital and practical support needed to ensure their growth and success.

Dubbed the “Engineering Mobility Program,” the strategy...involves relocating engineers from Flutterwave’s African offices to Capgemini’s offices in Bangalore, India.

“We’re narrowing our sectoral focus to concentrate on early-stage startups where our support can make a more significant difference.”

The FRA’s regulatory framework mandates that the issued and paid-up capital for the specified non-banking finance companies should not be less than EGP 75 million (approximately USD 1.5 million) or its equivalent in foreign currencies, based on the exchange rate set by the Central Bank of Egypt

The funding marks a significant milestone for the company as it accelerates its path to profitability, targeting Q1 2025 for this achievement.

North Africa, primarily driven by Egypt, witnessed growth, while West Africa, heavily reliant on Nigeria, experienced a decline.

Utilizing a purpose-built tech infrastructure and payment rails, businesses can instantly send and receive money in over 170 countries and convert between 49 currencies. Today, VertoFX supports over 4,000 businesses, from startups and SMEs to large corporate companies.

Since its soft launch in late 2022, Qardy has rapidly gained traction, onboarding over 1,000 corporate clients and facilitating loan transactions worth more than $12 million.

Only 32% of established investment managers and 26% of emerging investment managers work full-time on their investment vehicles.

“It’s the first time a game made in sub-Saharan Africa and by Africans will be present on a gaming console.”