General News
Five of the Best Payment Gateways out of Africa
By Adeniyi Ogunfowoke
As e-commerce on the continent continues to grow in leaps and bounds, payments, side by side with logistics, is something that sellers all over from Cairo to Lagos continue to work hard to figure out. With many economies struggling amidst unfavorable government policies, businesses on the continent are always on the lookout for trusted means to secure transactions coming in and out of their business.
Excellent payment solutions are important because they expand the frontiers of businesses allowing them to serve more customers far and wide. It also improves the customer’s user experience when payment is seamless and without hassles, and is able to go through the challenges of conversion rates, stamp duties, and processing fees, and several other barriers of trade and payment long experienced by buyers and sellers alike in Africa.
#1 Egypt – Vapulus
The Egyptian payment gateway Vapulus is now one of the top 15 payment gateways worldwide, according to Finance Online’s latest ranking, that reviewed the best 74 payment gateway solutions worldwide including Amazon Pay and Paypal, becoming the 1st Egyptian FinTech solution to achieve this prominent rank.
#2 Ethiopia – YenePay
YenePay offers an online payment option for individuals and businesses in Ethiopia by partnering with local financial institutions. Solutions offered by YenePay for individuals and businesses include pay in shops, peer-to-peer wallet transfer, online payments and tracking and invoicing of payments. Founded in 2015, it is one of the more popular payment infrastructures in Ethiopia.
#3 Morocco – PayLogic
Paylogic offers a technology EFT(electronic funds transfer) platform for PoS, Gateways, Acquirers, card processors, etc. It also offers instant card issuing services (both branded and private level). Also offers a mobile phone network for customers, merchants and banks across Africa. The company is active in Morocco, Sudan, Gabon, Senegal, Congo, Bénin, Mali, with a strong network of partners and representatives
#4 Nigeria – SeerBit
SeerBit provides payment solutions in 11 countries on the continent and is determined to double that at the end of the year. Adding to its roster of Nigeria, Ghana, Kenya, Senegal, Cameroon, Burkina Faso, Tanzania, Uganda, Ivory Coast, Benin Republic and Mali. With multiple payment methods created for merchants and individuals, SeerBit is an inclusive and innovative payment gateway that aims to be the household name for payments in Africa. Educational consultants, restaurants, mech-tech services, health, and pharmaceutical delivery companies are some of the types of companies to put their trust in SeerBit’s payment technology for their online payment solutions.
#5 South Africa – PayU
PayU is one of the largest payment providers worldwide and offers a variety of options for business and the largest number of payment methods of any gateway in South Africa. PayU prides itself as a payment solutions company that provides viable payment solutions across the globe in countries where traditional institutions can’t.
What’s the future of Payment in Africa?
With 350 million unbanked in Sub-Saharan Africa the task for fintech companies remains to capture as many more of the population into its system whether through e-wallets or USSD payment systems. The solutions and architecture that traditional banking institutes provide are too mammoth-sized for the new fintech companies to render them redundant overnight, but they can serve as a buffer to bank the unbanked in Africa. As one generation passes away, and another with more proclivity for technology and the amazing things that you can do with it, fintechs must be ready, capacity wise to capture a market that is ripe and ready for the taking.
Traditional banking institutions won’t sit on their oars. But technology is to be bought and sold, and where they can’t compete we expect to see an acquisition of modern fintechs by traditional banking institutions. Whatever happens, the real winners are the millions whom new opportunities are going to be provided for. All 350 million and more of them.
The Nigeria Immigration Service (NIS) has announced the rollout of a fully digital application system for the Combined Expatriate Residence Permit and Aliens Card (CERPAC).
The new online portal, https://cerpac.immigration.gov.ng, will become the exclusive platform for submitting CERPAC applications from August 1, 2025.
According to NIS, the digital migration is part of the Federal Government’s broader initiative to reform the immigration system by promoting transparency, improving operational efficiency, and enhancing the overall user experience for expatriates and organizations interacting with the Service.
In a press statement signed by A.S Akinlabi, Service Public Relations Officer, the NIS disclosed that manual or physical CERPAC forms will be completely phased out by July 31, 2025.
It noted that after this date, all applications must be submitted exclusively through the online portal.
The Service has advised applicants who have paid for physical forms but are yet to complete the submission process to do so on or before July 31, 2025, warning that any unsubmitted applications after the deadline will be deemed invalid, and associated payments may be forfeited.
Companies and individuals assuming Immigration Responsibility (IR) for expatriates have also been urged to ensure that all outstanding applications are finalized within the stipulated timeframe, to avoid potential delays or administrative setbacks.
“This digital transition marks a critical milestone in our effort to simplify processes and serve the public better,” the statement reads.
The NIS urged members of the public to direct all inquiries and correspondence regarding the new digital process to the office of the Public Relations Officer at the Service Headquarters in Abuja.
Tosin Eniolorunda and Felix Ike
Moniepoint joins a select group of leading fintech players recognised for their financial performance and success across 2023-4. The list – compiled by CNBC in conjunction with market research firm Statista – follows analysis of key performance indicators, such as revenue growth, transaction volume, employee headcount, and capital raised. The result is a diverse group of 250 trailblazing fintech companies.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt Inc.) has been instrumental in advancing financial inclusion across Africa – especially for individuals and businesses operating in the informal economy, underserved by formal and traditional institutions.
The Company services 10 million+ customers through its comprehensive, integrated ecosystem of digital banking, credit, payments, and business management tools, and processes over one billion transactions monthly with volumes exceeding US$22 billion.
The accolade follows recent milestones for the Company which reiterate Moniepoint’s commitment to innovation and widening access to the formal financial system.
Notably, Moniepoint expanded its offering to Africans in the international diaspora via the launch of the MonieWorld platform. MonieWorld offers seamless remittance and digital financial services capabilities to individuals in markets such as the UK; the first time the Company has provided services to consumers outside Africa.
In June, Moniepoint was named in the TIME100 Most Influential Companies list for 2025, highlighting the Company’s extraordinary impact. Moniepoint has also been recognised by the Financial Times for three consecutive years as one of Africa’s fastest-growing companies, reflecting its remarkable revenue growth and business expansion; and by CB Insights in the Fintech 100 list, highlighting the Company’s status as one of the world’s most promising private fintech companies.
Tosin Eniolorunda, Group CEO of Moniepoint Inc., said: “It is an honour to be named as one of the world’s top fintech companies by CNBC. Moniepoint’s inclusion in this prestigious, authoritative list is testament to the hard-work and success of the entire team while highlighting our emergence as a key player shaping the future of fintech worldwide.
“Our mission to power the dreams of millions of African entrepreneurs and businesses continues to propel us forward with renewed vigor. As we continue to scale, we remain committed to driving global financial inclusion and widening access to economic opportunities for Africans everywhere – transforming lives and livelihoods.”
CNBC’s list of the world’s top fintech companies was launched in 2023 to identify global market leaders in technology-driven financial services. The list, which includes companies operating across various regions and market categories including banking solutions, digital assets, and payments, highlights the dynamic and rapidly evolving FinTech industry, offering readers, investors, and stakeholders a comprehensive overview of the leading players across various segments.
Innovative financial institution and pioneer of Africa’s first fully digital bank, Wema Bank, has reaffirmed its commitment to advancing women’s empowerment by partnering with the SheCan Conference for the fifth consecutive year.
The collaboration has announced it would empower women with N2 million grant during the 6th edition of SheCan 6.0. conference, that will be held on July 18, 2025, at Balmoral, Federal Palace Hotel, Lagos.
The event is expected to host over 7,000 women under the theme “SheCan Do More.”
Announcing this partnership, Wema Bank through its women-focused platform, SARA by Wema, said it will be awarding ₦2 million in business grants to support women entrepreneurs within the SARA Community.
This grant is to support small and medium businesses within the SARA Community to scale up their business.
Ayodele Olojede, Head, Retail and SME Banking at Wema Bank, said, “Wema Bank is committed to empowering women entrepreneurs by providing the financial backing, tools, training, and networks they need to scale sustainably. Year after year, we’ve seen the incredible ripple effect that access, and opportunity can create in the lives of women and their communities.
“Through SARA by Wema, our goal is to create an environment where Nigerian women can dream bigger, build stronger, and lead the economy with confidence. This partnership with SheCan is a statement of belief in the power of women to transform society.”
“This year’s partnership represents more than sponsorship; it is a tangible investment in helping Nigerian women build sustainable businesses, scale their impact, and contribute meaningfully to economic growth.
“Eligible applicants must be women-led businesses with active Wema Bank accounts and must be registered members of the SARA Community.
“Interested participants are required to submit a written pitch of no more than two pages, detailing their business and founder story, the problem being solved, target audience and competitive advantage, proposed use of the grant, and the expected outcomes and community impact. Entries must also include the applicant’s Wema Bank account number, full name, and the email address used to join the SARA Community.”
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