Africa's $3bn payments champion trades Wall Street polish for regional banking steel as executive turnover points to deferred listing plans and domestic regulatory friction.
After a two-year stint in regulatory purgatory, Africa's two largest tech hubs are off the 'grey list'. VCs and payment startups can breathe… a little.
The timing of the announcement is telling. It comes just as the champions of this new, tech-first model are demonstrating their formidable financial power.
The raise, which includes Visa and Google, defies a broader African tech funding downturn and will fuel the $1bn-plus-valued company’s continental expansion.
The Cape Town-based firm will manage Zafiri, a new blended finance vehicle from the IFC and AfDB aiming to plug the 'missing middle' equity gap for decentralised energy companies.
The South African edtech startup recently won a restraint of trade case against a senior exec who claimed his new 'Co-Founder' title at a competitor was just an 'honorarium'.
Africa's $3bn payments champion trades Wall Street polish for regional banking steel as executive turnover points to deferred listing plans and domestic regulatory friction.
