Fintech, remittances anchor Africa's booming payments system

The Johannesburg summit is the first leg of the annual AfricArena Tour, which visits to each of Africa's four regions.

The Milken-Motsepe prize in fintech recognises solutions for expanding financial inclusion for small businesses in emerging and frontier markets.

Early-stage start-ups will receive a $50,000 grant, while growth-stage startups will receive a $225,000 grant to expand patient care across the continent.

OkHi intends to on-board large banks and fintechs within the next six months as it ramps up its attempts to be a significant driver of financial inclusion across Africa.

The project promotes Africa's tech ecosystem and the next generation of African entrepreneurs by providing mentorship and funding.

As the summit came to a close on Wednesday, nine winners from over 40 pitching start-ups were named Africa's most noticeable tech start-ups.

The organisers say the event aims to connect capital to tech founders and is focused on being a deal flow platform rather than just an event.

Elisabeth Moreno believes Africans are capable of developing solutions that previously didn’t exist and can benefit not only the continent, but the entire world.

NjiaPay aims to simplify payment processes, resulting in increased inclusion and create jobs across Africa.

According to a senior Visa executive, digital identities are one way to minimise regulatory red tape for fintech start-up innovation.

Temu enters Nigeria, promising factory-direct pricing and consumer-friendly policies like 90-day money-back guarantees.