The proceeds from the CP issuance will be used to support FairMoney’s short-term liquidity requirements and fund the expansion of its loan book.

The new system, operational 24/7, allows for real-time, round-the-clock transactions of any kind, regardless of the account type.

While the EFCC did not disclose the identities of the wallet owners in its application, insiders have indicated that the wallets are connected to individuals involved in organizing the ongoing protests against the Nigerian government.

Beyond equity exits, many angels are also interested in other financial gains.

The program offers selected startups a substantial boost with a $100,000 equity investment, alongside comprehensive mentorship and a platform to scale their ventures.

Fawry processes over 4 million transactions daily and serves approximately 51 million users each month.

The platform connects borrowers and lenders, streamlining the lending process from application to repayment.

"the Bank’s commitment will leverage investments into groundbreaking African startups tackling climate change through renewable energy, clean mobility, and other vital sectors for achieving our climate goals.”

doo! leverages this widespread infrastructure to create a one-stop solution for various essential services, thus transforming each Mobile Money agent into a multi-service hub.

Wainaina brings a wealth of experience to Conduit, having previously served as a director at The Kenyan Wall Street.

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.