Ghanaian fintech Seevcash has raised USD 333 K through the Stellar Community Fund (SCF) and affiliated ecosystem programmes, bringing its total support from the Stellar ecosystem across four awards.

Founded in 2022 by Dawuda Iddrisu, Charles Owusu and Cosmos Appiah, Seevcash is headquartered in Accra, Ghana, with a US incorporation, and provides low-cost cross-border payments and peer-to-peer money transfers for African diaspora communities.

The platform allows users to send and request money and manage funds across borders, using blockchain infrastructure including the Stellar network. The company says it has more than 25,000 users across five countries.

Alongside the funding, Seevcash has launched a Visa card that lets users spend their funds online and in person wherever Visa is accepted, building on its partnership with MoneyGram.

The post Ghana’s Seevcash Raises USD 333 K From Stellar To Expand Cross-Border Payments appeared first on WeeTracker.

On Sunday, August 30, a message began circulating across Nigerian social media and messaging platforms, quickly getting serious mileage. It looked official, an “Official Note” from OPay Digital Services announcing that the company would suspend all transactions and account-related services from September 1, 2026, for a “long indefinite break.” Customers were advised to withdraw their funds “as soon as possible.”

Within hours, panic set in and withdrawals spiked. A fintech that serves an estimated 46 to 50 million users across Nigeria, supports over one million merchants and employs more than 7,000 people, was suddenly facing something that looked alarmingly like a bank run.

OPay moved fast. On Monday, it took to X to declare the notice false and inserted app banners notifying users of the falsehood. By Tuesday, it had released a video debunking the rumour. On Wednesday, the company held a press conference in Lagos, its top executives flanked by lawyers, making it abundantly clear that OPay was not going anywhere.

“Dem say we dey shut down September 1, today na September 2, we still dey veri active and transactions still dey go on normal,” said Dotun Adekunle, OPay’s chief operating officer and chief technology officer, speaking in Pidgin. “We dey here, we no dey run wit your money, we dey gidigba.”

But the company’s response went beyond reassurance. OPay has engaged the Department of State Services and the Nigeria Police Force to investigate the source of the false information. It has already commenced legal action against at least one individual.

“Anyone who deliberately engages in similar conduct should expect decisive legal action and the full consequences provided by the law,” said Akinfolabi Rokosu, OPay’s chief legal counsel.

This is not an isolated incident. OPay has faced similar rumours before, in 2024 and again in November 2025, when false claims circulated that it had shut down or that customer deposits had been wiped out. Other major Nigerian corporations, including MTN, Wema Bank and pharmaceutical company May & Baker, have also been targeted by fake shutdown announcements in recent months.

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Earlier this year, the Central Bank of Nigeria upgraded OPay’s operating licence to national status, along with those of Moniepoint, Kuda Bank and other major fintechs. The upgrade formally recognised that these companies had expanded far beyond their original licence scopes and now operate across all 36 states. OPay, backed by SoftBank and Sequoia Capital and valued at USD 2 B, is preparing for a potential US initial public offering, while also weighing a secondary listing in Nigeria.

Yet for all its regulatory validation and institutional backing, a single piece of fabricated information shared across WhatsApp and X was enough to send millions of customers rushing to withdraw their money.

Olalekan Disu, executive at eTranzact and financial secretary of the Association of Licensed Payment Operators of Nigeria, said the threat goes beyond OPay. “Trust is the foundation of digital payments,” pointing out that when false information about a major player spreads, it does not just undermine one company but discourages adoption of digital payments across the board.

OPay has spent the years since its 2018 launch building a platform that helped millions of Nigerians navigate everything from daily transfers to the cash crisis of 2022 and 2023. Its green agent terminals have become a ubiquitous sight across the country. That infrastructure, and the trust it represents, is now being tested, not by usual regulatory or competitor adversity, but by the speed and reach of misinformation.

The company’s response, involving both state security agencies and the courts, signals that it views this as an existential threat. Rokosu said the action was necessary to ensure accountability and customer protection. But the deeper question is whether any amount of legal enforcement can keep pace with how easily fake news can be manufactured and spread.

OPay is still standing. The false shutdown date has passed, and transactions are flowing. But the episode has exposed a vulnerability that no amount of venture capital or regulatory approval can fully insulate against. In a country where digital finance has become essential infrastructure, the rumour mill is a systemic risk that the industry has only begun to confront.

The post How A Fabricated Notice Nearly Broke A Nigerian Fintech Giant appeared first on WeeTracker.

Absa, Kenya Airways and Visa have launched the Asante Global Card, a co-branded travel-lifestyle credit card the three companies describe...

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Airtel Africa’s mobile money business processed nearly USD 200 B in transactions over the past year as the telecoms operator expands financial services across 14 African countries, putting it on track for a London listing that analysts say could value the unit at up to USD 10 B.

The company’s Sustainability Report 2026, published on Wednesday, showed that Airtel Money’s transaction value climbed 44% to approximately USD 196 B in the financial year to March 31, driven by microloans, international transfers and merchant payments. The customer base grew 21% to 54.1 million users.

Chief Executive Sunil Taldar said expanding access to financial services and connectivity remains central to the company’s strategy. “Across Africa, access to connectivity, financial services and digital education is increasingly essential to economic opportunity,” he said in the report.

The growth positions Airtel Money for an initial public offering scheduled for the second half of 2026. Analysts at CLSA estimate the unit could raise between USD 1.5 B and USD 2 B at a valuation of up to USD 10 B, a fourfold increase from 2021, making it one of the largest fintech listings on a European exchange in recent years.

The mobile money business now has an EBITDA margin of 50.8%, above the broader Airtel Africa margin of 49.3%, and contributes 20% of the group’s regional revenue. However, penetration remains at only 29% of Airtel Africa’s 184 million mobile subscribers, with significant room for growth in Nigeria, where only 2.7 million customers currently use the service.

Airtel Africa has also expanded its digital infrastructure, with mobile network coverage reaching 81.9% of the population, including 73.1% in rural areas. Smartphone penetration rose to 49.5%, while data customers grew to 84.2 million.

The company’s agent network, which supports financial inclusion and local entrepreneurship, expanded by 39% to 2.4 million agents. Women account for 44.1% of Airtel Money customers, the report showed.

Beyond financial services, the Airtel Africa Foundation connected 3,043 schools to free internet through a partnership with UNICEF, up from 2,176 the previous year. The company also converted more than 950 network sites from off-grid to on-grid power, cutting diesel consumption by 9.1 million litres.

Feature Image Credits: Developing Telecoms

The post Airtel Africa Mobile Money Transactions Hit USD 196 B Ahead Of Planned London IPO appeared first on WeeTracker.

Kredete has partnered with Visa Africa to expand the use of stablecoin-backed cards across Africa and into the Gulf Cooperation...

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Ndovu Wealth Limited, a fund manager licensed by the Capital Markets Authority (CMA), has launched the Kibaba Multi-Asset Special Fund...

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Cape Town-based venture capital firm Knife Capital is marking its 15th anniversary with a pair of new Series A investments into South African startups Sticitt and Optique; two tech-driven businesses tackling entrenched problems in school payments and eye care.

Fintech startup Sticitt, founded in 2018 by Theo Kitshof, is digitising school payments while gamifying financial literacy for students. Its platform is used by over 75,000 users across 841 schools and has processed more than ZAR 6.3 B in transactions.

Beyond simplifying how parents pay for school services, the company, which previously raised seed funding in 2022, is positioning its youth banking tool as a driver of long-term financial inclusion. Knife’s investment builds on earlier backing via Grindstone Ventures, with this latest round intended to streamline the cap table and accelerate expansion.

Optique, launched in 2017, is challenging the traditional optometry model with a digitally enabled, low-cost offering. With 19 branches and an online store, the company targets under-served South Africans, offering ZAR 99.00 eye tests, all-inclusive pricing, and interest-free plans.

Founder Leon van Vuuren said the Knife backing will support national growth and bring world-class eye care to consumers left behind by legacy providers.

Knife Capital, which manages three funds, including the newly launched Knife Fund III, says these bets reflect a sharper focus on scalable, impact-driven innovation as it enters its next growth phase.

The post Knife Capital Backs Fintech And Healthtech With Two New Series A Bets In SA appeared first on WeeTracker.

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