Emerging Fintech Frontier - Issue #477 July 18th, 2024

In 2024, the global economy navigates a challenging landscape marked by modest growth, persistent inflation, swift technological advancements, and multifaceted geopolitical and environmental issues. These interconnected factors demand innovative and collaborative strategies to ensure sustainable economic prosperity on a global scale.

Adam Coons of Winthrop Capital Management is shifting his portfolio strategy, opting for a more defensive approach and moving investments away from emerging markets.

As tokenized assets transition from blockchain and decentralized-finance startups to traditional finance, mainstream lenders are intensifying efforts to experiment with the tokenization of real-world assets, aiming to boost adoption and unlock new market opportunities.

In a world where technology and finance converge, fintech innovations are revolutionizing the banking industry. Mobile-only banking and blockchain advancements are driving unprecedented efficiency, security, and inclusivity, fundamentally altering the financial landscape.

The United Nations Development Programme (UNDP) and the timbuktoo Africa Innovation Foundation have launched a state-of-the-art Fintech timbuktoo Hub in Lagos, Nigeria. This groundbreaking facility, the first of its kind in Africa, aims to catalyze innovation, foster collaboration, and drive growth within the Pan-African fintech ecosystem, spurring socio-economic development.

New data reveals that fintech startups in Nigeria have outperformed their African counterparts in funding raised during the first half of 2024. According to Afridigest, Nigeria led the big four African countries with the highest fintech funding at $140 million, followed by Kenya with $97 million, Egypt with $35 million, and South Africa with $34 million.

NALA, an African payments company and money transfer app, allows users to make secure and reliable payments from Europe, the UK, and the US to Tanzania, Kenya, Rwanda, Uganda, and Ghana in seconds. Last year, it expanded into the European Union, adding 19 new countries to its list of send countries and advancing its mission to connect Africans globally.

Stride Ventures, a premier global venture debt firm from India, has announced Maalexi as its first venture debt investment of USD 1 million as part of a larger commitment in the GCC region, marking a significant milestone in its international strategy. This move underscores Stride Ventures' dedication to driving innovation in emerging economies. The investment will accelerate Maalexi's growth plans and enhance its operational capabilities for more efficient food and agri-produce procurement and distribution across the region.