FinHive Africa / Weekly intelligence
31 August – 6 September 2026
African banking, fintech and paymentsThe weekly brief
Bank acquisitions, payment reform and new financial technology partnerships shape the week’s developments across Africa and beyond.
Nedbank’s NCBA transaction advances, Discovery Bank reaches full-year profitability and South Africa reshapes payment governance. Elsewhere, Nomba adds cross-border financing, Ericsson and FIS develop wallet technology, and African institutions examine the next generation of digital settlement. FinHive Africa brings together the developments influencing financial-service delivery, competition and investment.
East Africa
Nedbank moves closer to an East African banking foothold
Nedbank, NCBA
Nedbank's proposed purchase of a 66% stake in NCBA Group has cleared a key regulatory hurdle with approval from the Central Bank of Kenya. The R13.9 billion transaction would deepen the South African banking group's presence in East Africa, although remaining approvals still need to be completed. The approval advances the proposed acquisition; it does not mean ownership has already transferred. For NCBA, the transaction places its regional banking operations within a broader discussion about scale, capital and customer reach. For financial technology providers, an eventual combination could create opportunities around integration and shared services, but technology decisions and implementation plans should be assessed as they are formally announced.
Ethio telecom sets the next chapter for telebirr
Ethio telecom, telebirr
Ethio telecom has outlined its 2026/27 business plan, targeting 96 million customers and ETB295 billion in revenue as it advances its wider digital-services strategy. Its telebirr platform remains a central part of that ambition, connecting the operator's telecommunications reach with financial services. These figures are forward targets, rather than results already achieved. Ethiopia's mobile-money competition makes execution increasingly important: attracting registered users is only one part of building a sustainable payments business. Regular transactions, useful merchant acceptance and dependable customer support will determine how deeply wallets become embedded in daily commerce. The plan therefore deserves attention from banks and vendors seeking partnerships in one of Africa's largest consumer markets.
Kenya's visitor-payment options face a price test
Tourist Tap, Cashia, Payless
Tourist Tap, Cashia and Payless are addressing a familiar problem for visitors to Kenya: paying into local mobile-money and bank accounts without obtaining a Kenyan SIM card. Coverage this week examined the convenience of these services alongside their charges, which can exceed established domestic payment options. This is a fresh assessment of the market, rather than a claim that every service launched this week. For merchants, accepting visitor payments can broaden sales opportunities. For providers, the commercial challenge is to make convenience affordable and explain the full cost before a transaction is approved. Transparent fees, reliable confirmation and accessible dispute handling will influence whether occasional use becomes a trusted payment habit.
West Africa
Nomba adds $3 million to its cross-border payments push
Nomba, CardinalStone Finance
Nomba has secured a $3 million debt facility from CardinalStone Finance to support its cross-border payment infrastructure and access to dollar liquidity. The Nigerian fintech is building trade-payment connections involving the Democratic Republic of Congo and Asian markets, including banking relationships in Hong Kong and Singapore. The financing is debt, rather than a newly announced equity round. Its intended use brings attention to the funding required behind a payment platform: businesses need dependable currency availability as well as a usable interface. For importers and exporters, the value of such infrastructure depends on settlement reliability, pricing and the ability to complete transactions across different banking systems and regulatory requirements.
Seevcash connects diaspora transfers with everyday card spending
Seevcash, Stellar Community Fund, Visa
Seevcash has reported $333,000 in cumulative support through the Stellar Community Fund and affiliated programmes, alongside the launch of a Visa card. The Ghanaian fintech serves remittance and peer-to-peer payment needs, with the card adding a way for customers to use funds online and in person. The reported support spans four awards; it should not be read as one new investment cheque. Connecting incoming transfers with everyday spending could help the platform serve customers beyond the moment money arrives. Its commercial progress will depend on practical details such as availability, fees and transaction reliability. For diaspora-focused fintechs, the combination illustrates how remittance services can develop into broader financial relationships.
Paystack brings Allawee's issuing technology into its next phase
Paystack, Allawee
Paystack's integration of Allawee brings card-issuing technology further into its financial-services platform. The acquisition took place in 2025; this week's development concerns its disclosure and the transition away from Allawee's standalone service. Allawee customers have been told that accounts and cards are scheduled to close in December, making the withdrawal and transition timetable important for existing users. For Paystack, acquired infrastructure can broaden the capabilities available alongside merchant payments. Integrating those capabilities requires careful handling of customer balances, service continuity and communications. The development also shows why an acquisition announcement and a product migration are different milestones: the value of a transaction must ultimately be delivered through working services.
MTN Nigeria puts Bode Abifarin in charge of MoMo PSB
MTN Nigeria, MoMo Payment Service Bank
MTN Nigeria has appointed former Flutterwave chief operating officer Bode Abifarin to lead MoMo Payment Service Bank, with the role effective from 1 September. The appointment brings payments-sector operating experience to the group's effort to grow financial services in Nigeria. Leadership will matter in a market where a large telecommunications customer base does not automatically translate into frequent wallet use. Merchant acceptance, agent availability and useful payment services are central to building that relationship. The appointment is a management development, rather than an announcement of a new banking licence or product. Banks, fintech partners and technology suppliers will be watching how MoMo PSB turns its distribution reach into sustained transaction activity.
North Africa
HDB puts its cyber response through an operational rehearsal
Housing and Development Bank, Unit 42
Egypt's Housing and Development Bank has conducted a cyberattack simulation with Unit 42 to examine how the institution would respond under pressure. The exercise focused on incident response and coordination, supporting the bank's approach to cybersecurity and Central Bank of Egypt expectations. A simulation is a preparedness exercise; it does not indicate that the bank has suffered the scenario being rehearsed. For financial institutions, these exercises can reveal gaps between technical detection, executive decisions and customer-service continuity. They also give teams an opportunity to clarify responsibilities before a real disruption. HDB's exercise brings attention to the operational preparation that must accompany investment in digital banking and payment technology.
CIB and AUC invest in advanced banking and credit expertise
Commercial International Bank, American University in Cairo
Commercial International Bank and the American University in Cairo have launched an executive master's programme in banking and credit. The initiative adds a formal development route for the specialist judgement required in lending and financial management. Its relevance extends beyond classroom training: banks adopting new digital channels still need people who can assess borrowers, interpret risk and make sound credit decisions. The announcement concerns education and professional capability, rather than a new lending product. For institutions planning modernisation, it is a reminder to budget for skills alongside software. The programme's longer-term contribution will depend on how effectively participants apply their learning to the practical decisions made inside financial institutions.
Central Africa
Looping Binary introduces LBPay to Cameroon
Looping Binary, LBPay
Looping Binary has launched LBPay in Cameroon, presenting a digital-payment service for consumers and businesses. Reported capabilities include wallets, transfers and everyday payments, placing the new platform in a market where convenience and acceptance must develop together. A launch establishes the proposition; sustained adoption will depend on whether customers can move money reliably and find enough useful places to pay. Merchants will also need clear transaction records and practical support when payments fail or require reconciliation. For Cameroon's financial-services sector, LBPay adds another participant to watch as digital commerce develops. Details of provider coverage, pricing and service availability should be checked directly when businesses evaluate the platform for operational use.
DRC central bank sets work on a modern payments roadmap
Banque Centrale du Congo
The Banque Centrale du Congo has directed technical teams to formalise a roadmap for modernising the country's payment system following a central-bank payments conference. Discussions covered resilience, access and technologies including artificial intelligence, tokenisation, stablecoins, offline payments and central-bank digital currencies. These subjects are being considered in policy work; their inclusion does not mean new instruments have been authorised or deployed. For banks and payment companies, the next useful detail will be how the roadmap translates into standards, participation rules and implementation priorities. Better payment infrastructure could support commerce and financial access, but delivery requires coordination among the central bank, financial institutions and the technology providers operating the underlying systems.
Southern Africa
SARB and PayInc take on South Africa's revised payment roles
South African Reserve Bank, PASA, PayInc
South Africa has completed the transition of payment-system management functions previously performed by PASA. The South African Reserve Bank now carries the relevant regulatory, authorisation and standards responsibilities, while PayInc handles operational functions across several payment systems. Those systems include EFT services, authenticated collections and PayShap. The change concerns the governance and management of payment infrastructure, with everyday payment services intended to continue without disruption. Banks and payment providers need to understand where their obligations and operational relationships now sit. Clear responsibilities matter when resolving incidents, maintaining service standards and introducing new participants. This transition is therefore significant for the institutions and vendors that connect to South Africa's national payment infrastructure.
South Africa prepares to regulate payments by activity
South African Reserve Bank
South Africa's proposed National Payment System Bill is expected to move towards public consultation, with an approach that focuses regulation on the payment activity being performed. Under that direction, comparable services would face comparable rules whether their provider is a bank, fintech or another authorised participant. The bill remains a legislative proposal, so consultation and the final text will determine its eventual requirements. For financial institutions, the discussion raises practical questions about licensing, accountability and partnerships with non-bank providers. For fintechs, it could influence the route into regulated payment services. Product teams and compliance leaders should assess the eventual published provisions together before drawing conclusions about new permissions or obligations.
Discovery Bank crosses into full-year profitability
Discovery Bank
Discovery Bank has reported its first full-year profit, recording R370 million compared with a R68 million loss in the previous period. Its client base reached 1.57 million and revenue rose to R3.1 billion. The results give substance to its ambition to connect banking more closely with the group's insurance, health and investment offerings. Profitability is an important milestone for a digital bank, but continued performance will depend on the quality and depth of customer relationships. For other African financial institutions, the useful comparison is how customer growth translates into recurring revenue and sustainable service costs. Discovery's results provide a case to examine as banks consider broader financial propositions within a single relationship.
Shoprite expands its financial-services reach through R&A Cellular
Shoprite, R&A Cellular
Shoprite has completed its acquisition of a 51% stake in R&A Cellular, whose point-of-sale devices serve informal retailers and spaza stores. The transaction became effective in August and was disclosed in this week's results coverage. Shoprite plans to expand the device footprint, broaden value-added services and connect more of its financial-services proposition to those outlets. For informal merchants, a payment terminal can become a practical route to services used repeatedly throughout the trading day. The opportunity depends on affordability, support and the usefulness of the products offered. For banks and payment providers, the transaction shows how retail distribution can influence access to customers outside conventional branch and app channels.
Instarc backs its South African compliance push with fresh capital
Instarc, HFO Investments
Instarc has raised EUR1.25 million in a strategic investment led by HFO Investments to support the rollout of its compliance platform in South Africa. The Tallinn-based company focuses on cloud-native tools for customer verification, due diligence and regulatory workflows, including processes relevant to FICA obligations. The funding is intended to support expansion; it does not establish that every planned deployment is already operating. Financial institutions evaluating such platforms will need to examine data quality, integration and the evidence available for compliance review. Automation can reduce repetitive work, but responsibility for sound decisions remains with the institution. The investment adds another vendor to the growing market for practical compliance infrastructure.
Mozambique orders refunds for improper financial-service charges
Banco de Mocambique, banks and mobile-wallet operators
Banco de Mocambique has ordered banks, financial companies and mobile-wallet operators to refund approximately 73.2 million meticais in improperly collected fees and commissions. Reporting on the action linked it to customer complaints and charges identified during the first half of 2026. For providers, the issue reaches beyond the amount to be returned: fee configuration, disclosures and complaint handling all influence whether customers are charged correctly. Digital channels can apply a pricing error repeatedly unless controls identify it quickly. The action gives compliance and operations teams a concrete reason to review their charging processes. Clear records and timely remediation are essential when a financial institution needs to explain or reverse a disputed transaction.
Banco BCS and Mastercard develop Angola's digital-payment offering
Banco BCS, Mastercard
Banco BCS and Mastercard have announced plans to strengthen digital-payment experiences for customers in Angola. The collaboration covers Mastercard debit and credit propositions, including contactless and ecommerce capabilities and associated customer benefits. It adds to the work required to connect banking relationships with the places where people increasingly want to transact. A wider card proposition can support customer convenience, although adoption also depends on acceptance, pricing and dependable transaction processing. For banks pursuing similar partnerships, the practical challenge is to align product design with merchant needs and customer behaviour. The announcement establishes the partners' direction; the availability and terms of individual services should be assessed through their published product information.
Pan-Africa and global
AfDB and AXIAN bring digital finance to women-led businesses
African Development Bank, AXIAN, Mixx, MVola
The African Development Bank and AXIAN have launched a programme intended to support 34,000 women-led businesses through digital finance and business services. Activities will reach Madagascar, Tanzania and Senegal, while a training component aims to reach 25,000 women across those markets and Togo and Comoros. Mixx and MVola will support delivery, with digital lending and financial education among the programme's components. The targets describe intended reach, rather than businesses already served. Combining access to money with practical business support could help address barriers that a wallet alone cannot resolve. For financial-service providers, the programme offers a model to examine for linking distribution, credit assessment and customer support across several African markets.
Ericsson and FIS connect wallet platforms with banking capabilities
Ericsson, FIS
Ericsson and FIS are partnering to combine the Ericsson Fintech Platform with FIS payment and issuing capabilities. The planned integration brings together services around wallets, banking, ledgering, identity and compliance for enterprise customers. For African telecom operators and financial institutions, the announcement is relevant to efforts to extend mobile wallets into broader financial relationships. Integrating components in advance could simplify parts of delivery, although local regulatory requirements and institution-specific systems will still need attention. The partnership announces a technology proposition rather than a confirmed rollout at every operator using Ericsson's platform. Buyers should evaluate the available functions, implementation responsibilities and operating model against the products they intend to offer customers.
Standard Bank joins global institutions planning a stablecoin enterprise
Standard Bank and 20 international financial institutions
A group of 21 international financial institutions, including Standard Bank, has committed to establishing a new stablecoin enterprise. The proposed company is intended to issue a reserve-backed stablecoin on public blockchains, subject to closing conditions and the relevant approvals. It remains a planned venture rather than a payment product already available to customers. Standard Bank's participation gives the announcement direct relevance to African financial services, particularly discussions about cross-border settlement and institutional access to digital money. The details that will matter include eligible users, redemption arrangements and how the instrument connects to existing bank infrastructure. Those questions will determine the practical value of the venture as further plans are published.
Paymentology powers Maxim's UK credit proposition for African migrants
Paymentology, Maxim
Paymentology is supporting Maxim's UK credit-card programme, initially focused on the Nigerian diaspora. The proposition addresses migrants who may have financial experience elsewhere but limited credit histories in their new country of residence. Paymentology supplies issuer-processing technology behind the programme. For African banks and fintechs, the development points to a financial need that extends beyond remittances: customers also require access to credit and everyday payment tools where they live. Serving that need requires careful underwriting, clear pricing and appropriate customer support. The announcement concerns a UK programme, rather than a card rollout across African markets, but its customer focus makes it relevant to institutions developing services around African diaspora relationships.
