4.3 C
London
Saturday, February 8, 2025
HomeTechAfrica’s Fintech Revolution

Africa’s Fintech Revolution

MNT-Halan CEO Mounir Nakhla says that Nano-loans and fintech are reshaping financial services in Africa, spearheading a wave of innovation and investment across the continent’s tech ecosystem.

- Advertisement -spot_img

MNT-Halan CEO Mounir Nakhla says that Nano-loans and fintech are reshaping financial services in Africa, spearheading a wave of innovation and investment across the continent’s tech ecosystem.

Under his leadership, Egyptian fintech company MNT-Halan has not only become Egypt’s first unicorn but also emerged as a trailblazer in digital banking solutions, catering to the unbanked and underserved.

Founded in 2018, MNT-Halan provides a comprehensive digital ecosystem, including small business lending, consumer finance, e-commerce, and payments.

The company achieved a major milestone in July 2024, securing USD157.5 million in funding, with USD40 million from the International Finance Corporation.

This funding round, which included contributions from Development Partners International and Lorax Capital Partners, is fuelling MNT-Halan’s ambitious international expansion.

With a focus on reaching untapped markets, the company is poised to revolutionize financial inclusion across borders.

In addition to its core operations, MNT-Halan’s strategic acquisition of Turkey’s largest non-bank micro-leasing company, Tam Finans, suggests an intention expand its footprint beyond Africa.

By integrating its innovative digital ecosystem into Turkey, the company aims to replicate its success and bridge the gap for underserved markets in new regions.

MNT-Halan is just one example of the transformative growth happening across Africa’s tech sector.

Nigerian fintech Moniepoint, formerly known as TeamApt, exemplifies similar success.

In October 2024, the company raised USD110 million in Series C funding, becoming Africa’s latest unicorn.

Processing USD17 billion in monthly transactions for over 10 million customers, Moniepoint’s seamless financial services highlight the potential of African tech on a global scale.

Tanzania’s NALA also made significant strides in July 2024, securing USD40 million to enhance its money transfer services across Africa, Europe, the UK, and the US. With new ventures like its B2B platform, Rafiki, NALA is paving the way for broader financial inclusion.

Meanwhile, pan-African fintech Yellow Card raised USD33 million in October 2024 to expand its stablecoin services, enabling businesses to integrate seamlessly into global markets.

Similarly, Kenya’s SunCulture is transforming agriculture with solar-powered irrigation systems, having raised USD27.5 million to improve smallholder farming practices and increase resilience against climate change.

These milestones reflect a shared vision among African tech leaders, including Nakhla, to address pressing challenges with innovative solutions. From empowering small businesses to revolutionizing transportation and agriculture, Africa’s tech startups are not just attracting investment—they’re rewriting the continent’s narrative as a hub of ingenuity and opportunity.

“Our goal is not just to build a business but to create lasting change by offering financial tools to those who need them the most,” says Nakhla.

- Advertisement -spot_img
- Advertisement -spot_img

Stay Connected

1,000FollowersFollow

Must Read

- Advertisement -spot_img

Related News

- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here