BitKE

Khazna, an Egyptian fintech startup, has secured $16 million in pre-Series B funding for domestic growth and expansion into Saudi Arabia. The company, founded in 2020, aims to enhance financial inclusion in the MENA region, targeting user deposits and cross-border services.

The Central African Republic is developing a new legal framework for cryptocurrencies led by 15 experts after its previous crypto initiatives were deemed unconstitutional. The government aims to create economic opportunities while addressing the court's concerns.

P1 Ventures has completed a $25 million funding round for its second fund, focusing on seed-stage investments in Africa's tech sector. The firm, founded by Mauritanian Mikael Hajjar, targets promising startups in various fields, aiming to support ambitious African entrepreneurs and drive regional and global impact.

Following a strong first closing announced last year [2023], Partech Africa II, has reached its final closing at €280M ($300M+) with all major investors from its predecessor fund but also top tier investors making their first commitment into the Partech Africa platform and into the African VC

Norrsken22, a Pan-African venture capital firm, has raised $205 million for its first fund to invest in growth-stage startups in fintech, edtech, and healthtech across Africa. They aim to support around 20 startups, addressing a funding gap in the continent's tech ecosystem.

Quidax, a Nigerian crypto exchange, laid off 20% of its workforce due to tough economic conditions after reducing salaries. CEO Buchi Okoro emphasized the need to adapt for survival, offering severance and potential re-hires.

The Digital Currency Group (DCG), a powerhouse in the crypto and blockchain investment space, has significantly ramped up its activity in Africa. In 2024 alone, the US-based firm closed 12 new deals, reinforcing its commitment to the continent’s rapidly evolving fintech, AI, and blockchain

AfricArena’s recent Safarilex Bootcamp held in Kenya saw the participation of two decentralized infrastructure startups:

Mavuno Technologies from Tanzania
NoorNation from Egypt
The 2 are part of 32 startups selected for their outstanding innovation and potential. The startups will now get

Regfyl, a Nigerian startup focused on digital identity verification and fraud detection, has raised $1.1 million in pre-seed funding. Founded in 2023, it provides comprehensive compliance solutions for financial firms. The funding will aid in team expansion and developing new tools.

Nigerian blockchain startup Zone has raised $8.5 million in its first funding round to enhance its payment processing technology for banks and fintechs. With over 15 clients, including major banks, Zone aims to expand its network and explore new use cases.

ClusterLab, the developer of the Arabic audiobook summarization app Reedz, secured $600,000 in pre-seed funding backed by prominent investors. Based in Tunisia and the UAE, the company aims to enhance AI and NLP technology, particularly through next-generation large language models, to improve Arabic content accessibility.

Flutterwave now enables businesses in Nigeria to accept payments in eNaira, the country's CBDC, enhancing transaction options. With over $16 billion processed, Flutterwave supports multiple payment methods, including QR code, token, and direct debit for eNaira transactions.

French policymakers, led by Denis Beau, are advocating for stricter regulations on stablecoins under the EU’s MiCA framework, emphasizing risks from non-Euro-pegged tokens and their impact on monetary sovereignty. They aim to enhance oversight amid concerns about the dominance of dollar-backed stablecoins.

Kenyan startup Kotani Pay received a $100,000 grant from the Stellar Development Foundation's community fund, enhancing access to blockchain via local payment systems like M-PESA. The platform supports various sectors through its services, including transaction and consultancy fees.