The Central African Republic Launched...a Memecoin?
Plus: Raenest raised $11 million and Nigeria launched a stablecoin
The Central African Republic (CAR) has launched a meme coin, $CAR, in an effort to raise the country’s global profile.
The move follows the launch of Donald Trump’s $TRUMP meme coin, which briefly hit a $14.5 billion market cap before slumping.
In The News This Week:
Nigerian Fintech Raenest Raises $11 Million in Series A Funding
Raenest, the global multi-currency accounts platform for individuals and businesses across Africa, today announced the completion of its $11M Series A funding.
Affinity Africa Raises $8 Million As Its Hybrid Banking Approach Gains Traction
Ghanaian fintech Affinity Africa has raised $8 million in a seed round led by European firms Grazia Equity and BACKED VC.
The digital bank serves individuals and micro-enterprises with free savings and current accounts, no transaction limits, and a built-in credit-scoring system.
Nigeria’s First “Compliant” Stablecoin Launches Amid Skepticism
A coalition of software firms has launched cNGN, Nigeria’s first “compliant” stablecoin, now included in the Nigerian Securities and Exchange Commission’s (SEC) incubation program.
It is reportedly live on two licensed digital asset exchanges.
In the rest of the news:
Madica Backs Four African Startups in Latest Investment Round
Democratic Republic of Congo Taps Trident for National Digital ID Project
Hurupay Launches Stablecoin-Based Virtual Dollar Accounts for African Freelancers
Mali Introduces Telecom Tax to Fund Fight Against Insurgents
Dodo Technologies Launches AI-Powered Communication and Automation Platform
MTN Nigeria Hikes Data Prices After Approved Tariff Increase
Africa Ecosystem Activity
New $4m venture fund launched to back African blockchain solutions
P1 Ventures closes $50m fund to double down on “contrarian” African VC thesis
Egyptian social e-commerce startup Taager raises $6.75m pre-Series B round to fuel growth in MENA
How Amma Gyampo Plans To Unlock Venture Capital Potential as New CEO of the Ghana Venture Capital Association
In an exclusive interview with Tech Labari, we discussed her vision for GVCA, current state of venture capital in Ghana, and initiatives she's looking forward to working on during her tenure.
On Thursday, 6th February, Tech Labari, in collaboration with Kora, held an online webinar to discuss the evolving landscape of FinTech in Africa, highlighting trends, challenges, and future opportunities in the sector.
The panelists for the webinar included:
Martin Kwame Awagah – Head of Ghana Fintech and Payments Association
Promise Eliminhele – Head of Product (Kora)
Festus Amoyaw – CEO fo Figtech
The webinar also delved into the topic of Embedded Finance in Africa and the opportunities that it helps for the fintech industry and consumers.
Kora has published a report in collaboration with Finextra, which dug deeper into the topic.
Tech Events in 2025
Mark your calendars, because in 2025, these tech gatherings promise to ignite ideas, forge connections, and propel the continent’s tech revolution forward.
You can find more events on Labari Insights. Sign up for free.