This impressive growth comes just seven months after reaching 500,000 users in November 2023.

The CBE received complaints from foreign clients regarding difficulties in opening accounts, hindering their ability to access essential banking services.

With a presence beyond Nigeria in markets like Cote Ivoire, Senegal, and Mauritius, Matta plans to expand to South Africa and Eastern Africa by the end of 2024.

This technology is poised to not only elevate the performance of athletes but also address common pain points experienced by consumers.

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.