Africa’s mid-market businesses — often too large for microfinance but too small or risky for traditional bank lending — face an estimated $330 billion annual financing shortfall, according to the African Development Bank.

Many African SACCOs still rely on manual processes, limiting efficiency and financial inclusion.

The 2025 Finance Act has been a game-changer, eliminating a 12.5% excise duty on EVs and offering a 50% tax break on batteries and charging infrastructure for two years.

The IFC investment comes amid growing global interest in Africa’s fintech sector.

Egyptian proptech startup Nawy has secured $52m in Series A funding, marking one of the largest single rounds in the country’s real estate technology sector to date.

The move follows a string of high-profile deals by Bokra.

Users across the WAEMU zone reported frozen wallets, failed merchant transactions, and blocked salary payments.

The announcement places Julaya among the first digital finance providers in Francophone West Africa to re-emerge from a regulatory freeze that has paralysed the region’s fintech sector since the beginning of May.

Jumia’s liquidity position declined by $23.2 million in the quarter, leaving it with $110.7 million in cash and short-term deposits. At the current burn rate, the company has roughly five quarters of runway before needing additional funding.

Alongside the fintech award, the Milken Institute and Motsepe Foundation announced a new $2 million prize focused on AI and manufacturing in Africa.

In a market still defined by currency shocks, regulatory overhauls and capital flight, getting a lead investor on board is often the difference between a round closing — or stalling.

“Several Senegalese fintech companies are at risk of collapse. Many people will lose their jobs.”