A few days ago, the central bank issued the first e-money issuance license to a fintech, Wave notably. With the creation of the support bureau, analysts expect incentive guidelines for fintech startups active in West Africa.
The Central Bank of West African States (BCEAO) announced, Friday (April 22), the creation of its fintech bureau. Dubbed BCSF (French acronym for fintech supervision bureau), the department will promote and support the development of startups offering financial services in West Africa.
Women farmers in Cote d’Ivoire will more easily find markets for their crops, thanks to a digital platform recently launched by UN Women.
Blaatto(link is external), part of the UN agency’s Buy From Women initiative, is targeting women smallholder farmers and members of women-led agricultural cooperatives in the country’s central region where access to markets is relatively poor. The word ‘blaatto’ means ‘come and buy’ in the region’s Baule language.
The NGX has lined up seven derivative contracts for the first phase, all of which have gained the consent of the Securities and Exchange Commission.
Now that the liquidity in the Nigerian stock market is worrisomely low when set beside January's and daily size of trade is miles apart from its pre-pandemic level, capital market authorities have launched the first exchange-traded derivatives market in West Africa, marked by Thursday's introduction of two futures contract, NGX 30 Index and NGX Pension Index.
In the first quarter of 2022, African startups raised US$1.8 billion, 2.5 times the amount raised over the same period in 2021. The figure is reported in a recent newsletter by the Big Deal.
According to the newsletter, it is just a matter of days before they pass the mark of US$2 billion raised. Indeed, in the first seven weeks of 2022, as of February 18, African startups had already secured over US$1 billion with 130 deals.