🇸🇳Senegal
Payment trends and fintech news from Senegal
BnB Liberia and Orange Money Launch Cross-Border Remittance Service Across Eight African Nations
BnB Liberia and Orange Money have introduced a cross-border mobile money remittance service linking eight African countries, aiming to streamline intra-regional transfers. The launch aligns with broader continental efforts to reduce the cost and complexity of cross-border payments through both commercial partnerships and central bank-led interoperability pilots.
Flutterwave Processes $40 Billion, Expands Across Africa
African payments firm Flutterwave has processed over $40 billion across 1 billion transactions. The company expanded its operations by securing new licenses and deepening partnerships, while also reporting increased transaction volumes in key payment methods.
Esca Finance Partners with MANSA for Same-Day African Payment Settlements
Esca Finance has partnered with MANSA to enable same-day payment settlements across key African corridors, utilizing stablecoin-backed infrastructure. This collaboration aims to enhance liquidity and accelerate cross-border transactions for businesses, reducing the need to pre-fund accounts in multiple markets.
Proparco Commits $2 Million to Senegal's Cauridor
French development finance institution Proparco has invested $2 million in Senegalese fintech Cauridor. The funding will support the company's growth and its mission to expand digital payments and savings services in Senegal.
Senegal's KaliSpot Secures $4 Million to Expand 1Net Network Across West and Central Africa
Senegalese fintech KaliSpot has raised $4 million to expand its 1Net digital financial services infrastructure network in West and Central Africa. The funding will support efforts to improve connectivity and interoperability for financial institutions across the region.
Senegalese Fintech KaliSpot Secures $4 Million for Regional Expansion
Senegalese fintech firm KaliSpot has raised $4 million to fund its expansion across West Africa. The company will use the investment to grow its merchant payment network and enhance its technology platform.
MaxiSend expands African remittance corridors with Nigeria, Ghana, and Senegal launch
US fintech MaxiSend has launched remittance services to Nigeria, Ghana, and Senegal, targeting diaspora communities with digital transfers to mobile money and bank accounts. The expansion intensifies competition in key West African markets where lowering costs and improving speed for senders are critical.
BCEAO opens new regulatory path for fintechs targeting diaspora remittances
The Central Bank of West African States has launched a regulatory framework enabling licensed fintechs to offer full banking services to the diaspora. The move aims to formalise remittance flows and comes amid growing competition in Africa's cross-border payments market, with firms like NALA and Accrue expanding their services.
African Central Banks Urged to Strengthen Cross-Border Payment Cooperation
African monetary authorities are facing calls to enhance collaboration on cross-border payments to reduce costs and boost efficiency. This comes as regional central banks in Central and West Africa advance new cooperation agreements and instant payment systems, while national regulators like Nigeria's seek tighter oversight of the fintech sector.
Egypt's Beltone Acquires Baobab Group for $235 Million in Pan-African Expansion
Egypt's Beltone Holding has completed its €197.6 million acquisition of Baobab Group, gaining access to the digital financial services group's operations across eight African countries. The deal represents a significant cross-border investment in Africa's fintech sector and expands Beltone's footprint into Nigeria and Francophone West Africa.
Wave, Visa and Ecobank Launch Virtual Card Service in Senegal
Wave has partnered with Visa and Ecobank Senegal to launch a virtual card service enabling online payments through its mobile app. The initiative expands Wave's mobile money services in Senegal while leveraging Visa's global payments network and Ecobank's regional banking infrastructure.
Wave Sénégal Launches Virtual Visa Card in Digital Payments Push
Wave Sénégal has launched virtual Visa cards in partnership with Ecobank to enable e-commerce transactions for its mobile money customers. The move represents a significant expansion of digital payment options in Senegal, where Wave has established itself as a leading mobile money provider.