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2023 was a hard year for startups across Africa and the World, as funding declined tremendously amidst a harsh economic climate.
The cryptocurrency sector was heavily affected, struggling through a bear winter that claimed many businesses and so a retreat of money into the sector.
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M-PESA has partnered with Amazon to offer global remittance services, aiming to enhance its competitiveness in cross-border payments. With over 50 million users in Africa, M-PESA faces competition from established and emerging fintech players while expanding its services through previous partnerships.

Standard Bank has integrated with China's Cross-Border Interbank Payment System, allowing African companies to settle payments in Renminbi directly, enhancing efficiency and reducing costs in China-Africa trade transactions.

The Kamusi DAO Project aims to create a Kiswahili Web3 dictionary that highlights Africa's cultural diversity, promoting inclusivity and participation through decentralized technology. It empowers marginalized communities and fosters equitable development in the Web3 space.

Idris Elba has partnered with Stellar Development Foundation to explore blockchain solutions for financial inclusion in West Africa. He emphasizes the transformative potential of cryptocurrency, aiming to make financial technology more accessible and bridge mainstream culture with crypto.

Afreximbank is reviewing Kenya's proposal to host a Pan-African payment system to facilitate intra-African trade. The system allows cross-border payments using local currencies, promoting Nairobi as a major financial hub.

Orange partners with The Hashgraph Association and Dar Blockchain to enhance digital inclusion in Africa. They aim to promote decentralized tech through a training program and the Hedera Africa Hackathon, fostering skills and innovation with over a million-dollar prize.

Dar blockchain, a Tunisian Web3 company, has entered into a partnership with the Hashgraph Association, a non-profit organization dedicated to promoting the widespread adoption of the Hedera Network among the youth.

“By providing training sessions that dive into the Hedera Network, and setting u

African identity verification startup, Smile Identity, says it has hit the 60-million identity check mark, a number which equates to doing ID checks on about 4% of the entire population of Africa.
Smile Identity, which has integrations to more ID databases than any other KYC

Flutterwave now enables businesses in Nigeria to accept payments in eNaira, the country's CBDC, enhancing transaction options. With over $16 billion processed, Flutterwave supports multiple payment methods, including QR code, token, and direct debit for eNaira transactions.

Many Nigerians are dissatisfied with the newly redesigned banknotes, perceiving them as merely a color change rather than a significant redesign. Critics doubt their effectiveness in addressing counterfeiting and economic issues.