See the 3 African unicorns that made TIME's 100 Most Influential Comapnies, list
Three African tech powerhouses, Nigeria's Moniepoint and Flutterwave, and South Africa's digital bank Tyme, have been chosen for TIME magazine's 2025 list of the 100 Most Influential Companies, a watershed moment for the continent's rapidly expanding fintech industry.
Nigeria's Moniepoint and Flutterwave, alongside South Africa's Tyme, appeared in TIME magazine's 2025 list of the 100 Most Influential Companies.
Moniepoint was recognized for aiding Nigeria's informal businesses in accessing formal economic tools, enhancing financial inclusion.
Flutterwave's innovations facilitate cross-border digital payments and expand economic connectivity effectively in Africa.
TIME's prestigious annual list, now in its fifth year, recognizes 100 firms across the world that are making outstanding contributions to their sectors.
Moniepoint Inc
Nigeria's Moniepoint Inc. was listed in the Leaders category with Hyundai, GoFundMe, and LinkedIn. With 90% of Nigeria's 40 million small and medium-sized firms still functioning in the informal sector, Moniepoint has played an important role in assisting these businesses to shift to legal structures.
The company provides comprehensive banking solutions that enable informal enterprises to transition away from cash transactions, obtain loans, and grow sustainably.
'For us, 'financial inclusion' isn't just a buzzword, it's the difference between survival and growth,' says CEO and cofounder Tosin Eniolorunda
Moniepoint secured its reputation as one of Africa's most valuable fintechs in October 2024, receiving $110 million in equity funding and driving it into unicorn territory.
Flutterwave
Flutterwave, another Nigerian financial success story, was recognized in the Titans category with global behemoths like Meta, Amazon, and OpenAI.
The company has transformed digital payments in Africa, providing vital infrastructure for businesses to send and receive money easily across borders.
In 2024, the Nigerian firm, currently valued at $3 billion, extended its money transfer services to all U.S. states except Texas through its Send App, which, according to the business, completes almost all (98%) transactions in three minutes.
Digital payment solutions for businesses in Saudi Arabia and Turkey were also introduced by Flutterwave.
'I wish it was boring, we're here for the long game,' Agboola, the company's CEO, stated.
Tyme
Tyme, a company that operates in South Africa, joined the Pioneers category among innovators such as SpaceX and Equinor.
Tyme became one of Africa's newest unicorns in December 2024, when it raised $250 million in a Series D fundraising round.
Meeting underbanked people where they are has been the driving force behind Tyme Group's unique multi-country development trajectory.
The Singapore-based digital bank now serves around 17.5 million retail customers in South Africa and the Philippines.
'You can walk into a grocery store in South Africa and open a bank account with us in under three minutes,' says Chief Growth Officer Rachel Freeman.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
UK's Wood Group discloses investigation by financial regulator
(Reuters) -Wood Group said on Friday Britain's financial watchdog had begun an investigation into the oilfield services provider, following the company's announcement last year of an independent accounting review related to some contracts and charges. Wood Group said the Financial Conduct Authority (FCA) was looking into its operations between January 1, 2023, and November 7, 2024, without giving further details of the review or investigation. The company, also a takeover target for Dubai-based Sidara, said it would "cooperate fully" with the FCA. The agency in a separate statement confirmed its investigation, but did not elaborate. Wood Group in November had agreed with its auditor to conduct an independent review focused on the company's reported positions on certain contracts with customers, as well as some exceptional charges in its interim results. In late April, the company missed a deadline to file annual results for 2024, citing the pending audit conclusion and the timing of the culmination of the review. Wood Group's shares have been suspended from trading since May 1. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
New York Post
22 minutes ago
- New York Post
Germany asks Apple, Google to block Chinese AI firm DeepSeek from app stores over ‘unlawful' data transfer
A top regulator in Germany asked Google and Apple on Friday to remove Chinese AI startup DeepSeek from their app stores in their country due to data privacy concerns. Meike Kamp, Germany's data protection commissioner, said in a statement that DeepSeek's transfer of German user data to servers based in China was 'unlawful.' 'DeepSeek has not been able to provide my agency with convincing evidence that German users' data is protected in China to a level equivalent to that in the European Union,' Kamp said in a statement. DeepSeek stores data on China-based servers. AP 'Chinese authorities have far-reaching access rights to personal data within the sphere of influence of Chinese companies,' she added. Kamp advised the two Big Tech giants to review her request promptly and decide whether to ban the DeepSeek app, though her office did not set a deadline. She noted that DeepSeek had not complied with requests to meet the European Union's data privacy standards. Representatives for Apple and Google did not immediately return a request for comment. DeepSeek exploded onto the scene in January and briefly caused a major tech stock selloff after it released an AI model that it claimed to have trained at a fraction of the cost of rivals like OpenAI's ChatGPT – and without access to the most advanced computer chips. As The Post has reported, DeepSeek's own terms of service disclose that user data is stored 'in secure servers located in the People's Republic of China' – posing the same national security risk that led Congress to crack down on ByteDance-owned TikTok. The company also says it automatically collects data on personal information such as 'device model, operating system, keystroke patterns or rhythms, IP address, and system language.' DeepSeek has already faced a crackdown in both the US and Europe. REUTERS In March, the Wall Street Journal reported that the Trump administration was 'likely' to ban the DeepSeek app from government devices. Elsewhere, New York state has already instituted a ban from government devices and networks due to 'serious concerns' over data privacy and censorship risks. In Europe, Italy has blocked DeepSeek from its app stores. The Netherlands nixed it from government devices. With Post wires
Yahoo
27 minutes ago
- Yahoo
Here's What to Expect From Johnson & Johnson's Next Earnings Report
New Brunswick, New Jersey-based Johnson & Johnson (JNJ) engages in the research and development, manufacture, and sale of various products in the healthcare field worldwide. With a market cap of $366.4 billion, the company operates through its Innovative Medicine and MedTech segments. The healthcare major is set to unveil its second-quarter results before the markets open on Wednesday, July 16. Ahead of the event, analysts expect JNJ to report a non-GAAP earnings of $2.65 per share, down 6% from the profit of $2.82 per share reported in the year-ago quarter. On a positive note, the company has surpassed the Street's bottom-line projections in each of the past four quarters. Ditch Big Tech and Buy These 3 Popular Stocks in 2025 Instead Dear Nvidia Stock Fans, Watch This Event Today Closely Can Broadcom Stock Hit $400 in 2025? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For the full fiscal 2025, its earnings are expected to come in at $10.60 per share, up 6.2% from $9.98 per share reported in the year-ago quarter. While in fiscal 2026, its earnings are expected to rise 3.6% year-over-year to $10.98 per share. JNJ stock has grown 3.5% over the past 52 weeks, outperforming the Health Care Select Sector SPDR Fund's (XLV) 8.1% decline but lagging behind the S&P 500 Index's ($SPX) 12.1% uptick during the same time frame. Despite delivering better-than-expected financials, Johnson & Johnson's stock prices observed a marginal dip after the release of its Q1 results on Apr. 15. Driven by a solid growth in US sales, the company's overall topline for the quarter increased 2.4% year-over-year to $21.9 billion, exceeding the Street's expectations by 1.3%. Meanwhile, the company's adjusted EPS inched up 2.2% year-over-year to $2.77, surpassing the consensus estimates by 7.8%. On an even more positive note, JNJ's free cash flows surged 19.3% year-over-year to $3.4 billion. Following the initial dip, JNJ stock rebounded and remained green for the next two trading sessions. The consensus opinion on JNJ is cautiously optimistic, with a 'Moderate Buy' rating overall. Of the 23 analysts covering the stock, opinions include nine 'Strong Buys,' two 'Moderate Buys,' and 12 'Holds.' Its mean price target of $169.14 suggests an 11.3% upside potential from current price levels. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
