Cape Town-based fintech Lumepay has raised $6m (approximately R99m) in pre-seed funding to build its cross-border payment infrastructure for businesses across Africa. Image supplied The round, backed by founder-led angel investors and South African fintech investors, closed in early 2026. The company also secured approximately $10m in capital float to support liquidity for clients using…
From left: Lumepay COO Luc Varejes, CEO Harry Huang, and chief legal and compliance officer Tatenda Nhemachena. Local fintech start-up Lumepay has raised $6 million (R98.6 million) in a pre-seed funding round backed by founder-led angels and South African fintech investors. The Cape Town-founded B2B cross-border payment and digital asset platform provides institutional-grade payment rails,…
The e-mobility programme brings together partners from the technology, financial services, automotive and e-hailing sectors. Vodacom South Africa and SmartOps Fleet are targeting the deployment of up to 55 000 vehicles over the next nine to 12 months, in a programme combining connected-vehicle technology, vehicle finance and managed e-hailing operations. According to a statement, the…
Capitec continued to grow its customer base, as active clients increased to 26.6 million. (Image supplied) Capitec’s fintech operations, comprising value-added services (VAS) and its mobile virtual network operator (MVNO) Capitec Connect, continued to gain momentum in the six months to 31 August, with net income from the businesses rising 30% to R2.7 billion. The…
Capitec’s fintech business – value-added services including prepaid airtime, data, electricity and money transfers, plus its Capitec Connect mobile service – contributed R2.7-billion to group headline earnings in the six months to 31 August, according to the group’s own breakdown. That is about three-quarters of the R3.5-billion in headline earnings from its Personal Banking business…
Airtel Money, the mobile money arm of Airtel Africa, intends to file for a public listing in London, it said on Wednesday, marking a potential turning point for a market that has faced a prolonged slowdown in new listings. The company had originally targeted a listing in the first half of 2026 but delayed it…
Shoprite’s trading profit increased 8.4% to R16.2 billion, while gross profit rose 8.1% to R66.5 billion for the 52 weeks ended 28 June. Shoprite has expanded its push into South Africa’s informal economy and digital financial services after finalising the acquisition of an initial 51% stake in R&A Cellular. According to the retail group’s latest…
DA MP and Kastelo founder Mark Burke in an undated photo. Image: Kastelo Kastelo, the fintech at the centre of a South African Reserve Bank exchange control investigation that has ensnared DA MP Mark Burke, has rejected the central bank’s core allegation that its clients were unaware that billions of rand were being moved offshore…
Jessica Erobomhan Chairman of the House Committee on Insurance and Actuarial Matters, Ahamadu Usman Jaha, has said Nigeria’s fintech ecosystem has become one of the largest in Africa, noting that the country’s growing payment ecosystem continues to attract significant investment. Jaha spoke recently in Lagos at the 2026 Stakeholders’ Retreat of the House Committee on…
Moove raised $250 million in an investment round led by Abu Dhabi sovereign wealth fund Mubadala, valuing the vehicle-financing and fleet-management company at $2.1 billion. Woven Capital, Toyota’s growth fund, and Ion Pacific co-led the round. BlueCrest Capital Management, Sona Asset Management and Raptor Group also took part. The Dubai-based company will use the money…
