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The sale of shares in Société Générale is currently in progress, with prospective buyers engaging with the Bank of Ghana to ensure they meet regulatory requirements. Governor Dr. Johnson Asiama stated that the central bank is awaiting negotiations and agreements before proceeding further. Meanwhile, Société Générale Ghana's management has clarified that rumors of the bank exiting Ghana are unfounded, emphasizing their commitment to strengthening their capital base.
Paysky, a leading digital fintech solutions provider, has secured $6.75 million to enhance Africa's fintech infrastructure. Recognized among Forbes Middle East’s Top 50 Fintech Companies for the third consecutive year, the company operates in 18 countries and processed over $3.9 billion in transactions in 2024. Its innovative offerings include national payment systems, the Yalla Super App, and various digital payment solutions aimed at driving financial inclusion and digital transformation across the region.
Morgan Stanley has initiated coverage on Hershey with an Equalweight rating and a price target of $183, noting improved top-line growth and stabilization in market share. However, the firm remains cautious due to cocoa price volatility and recent downward revisions in earnings estimates by analysts. In other developments, Hershey appointed Stacy Taffet as Chief Growth Officer and amended its bylaws to enhance corporate governance. The cocoa market is also seeing changes, with Ghana reporting a significant increase in cocoa arrivals, which may influence future pricing dynamics.
Saudi Nayla Finance has raised $4 million to support micro-enterprises, while Paysky, a digital fintech leader, has been recognized among Forbes Middle East’s Top 50 Fintech Companies for the third consecutive year. Founded in 2017, Paysky operates in 18 countries, offering innovative digital payment solutions, including the Yalla Super App, which has processed over 17 million transactions since its 2022 launch. The company continues to focus on expanding financial inclusion and driving digital transformation across emerging markets.
Saudi Nayla Finance has raised $4 million to support micro-enterprises, while Paysky, a digital fintech leader, has been recognized among Forbes Middle East’s Top 50 Fintech Companies for the third consecutive year. Founded in 2017, Paysky operates in 18 countries, offering innovative digital payment solutions, including the Yalla Super App, which has processed over 17 million transactions since its 2022 launch. The company continues to focus on expanding financial inclusion and driving digital transformation across emerging markets.
UAE-based PlaysOut has secured $7 million in a seed funding round led by KBW Ventures to expand its mini-game ecosystem, valuing the company at $70 million. The funding will enhance its blockchain-powered mini-game engine, targeting growth in the US, MENA, and Asia.Meanwhile, ORO Labs raised $1.5 million to transform gold into a yield-generating asset through blockchain technology, allowing users to earn yield and trade gold-backed assets. The startup aims to bridge traditional gold markets with Web3 finance, leveraging the UAE's robust gold trade environment.
UAE-based PlaysOut has secured $7 million in a seed funding round led by KBW Ventures to expand its mini-game ecosystem, valuing the company at $70 million. The funding will enhance its blockchain-powered mini-game engine, targeting growth in the US, MENA, and Asia.Meanwhile, ORO Labs raised $1.5 million to transform gold into a yield-generating asset through blockchain technology, allowing users to earn yield and trade gold-backed assets. The startup aims to bridge traditional gold markets with Web3 finance, leveraging the UAE's robust gold trade environment.
M&A activity in African tech startups continued to decline in 2024, with only 12 deals recorded, a 20% drop from the previous year. Total funding fell to $1.1 billion from $2.4 billion, marking a second consecutive year of downturn, with South African startups leading acquisitions. Notably, mobility startups saw three acquisitions, while fintech's dominance in previous years waned.
Emerging market sovereigns face vulnerabilities amid rising global financial volatility, particularly with the U.S. dollar rallying. Countries like Argentina, Turkey, and South Africa have seen significant currency depreciations, while exposure to currency risk varies widely, with South American nations notably affected. Additionally, potential capital outflows and increased interest burdens could exacerbate financial pressures for several emerging economies.
Nigerian startup Dojah is revolutionizing fraud prevention with its all-in-one identity verification solutions, launched in January 2021 by Tobi Ololade and Ayomide Oso. The company offers tools for real-time fraud detection, transaction monitoring, and AML compliance, serving businesses across Nigeria, Ghana, Kenya, and South Africa.With US$1.25 million in pre-seed funding, Dojah has verified 50 million identities and aims to expand its services throughout Africa. Operating on a B2B SaaS model, the startup focuses on scalability and market growth as demand for its solutions increases.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ongoing sale of shares in societe generale attracts prospective buyers
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paysky secures recognition and funding to enhance fintech infrastructure in africa
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decline in african tech mergers and acquisitions amid ongoing funding challenges
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14:34 27.02.2025
nigerian startup dojah enhances fraud prevention tools for businesses across africa
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