Luno Nigeria has launched a new platform allowing users to buy and sell tokenized fractional shares of global companies like Apple and Tesla using the local currency, Naira. This initiative aims to democratize access to the US stock market for Nigerians, bypassing typical international investment barriers.

• Less than 5 percent of Nigeria's adult population participates in capital markets, despite a 74 percent financial inclusion rate.
• Ayotunde Alabi, CEO of Luno Nigeria, stated the goal is to give millions of Nigerians a "genuine chance to invest in the same world-leading companies."
• The service first rolled out in South Africa in July, attracting over 10,000 investors in its first month.

Kenya's banking sector is at a pivotal point, facing significant disruption from AI despite a stark lack of preparedness among established players. While banking leaders recognize AI's transformative potential, a major readiness gap creates an opportunity for new, nimble AI-native digital banks to gain a competitive edge.

• Over 80% of senior management and board members believe generative AI will be transformative for the industry, yet only 20% feel "prepared" or "fully prepared" for the AI transition.
• The cost for a fully digital bank to acquire a new customer can be less than one-third that of a traditional bank, with ongoing customer management under one-fifth the cost.
• Akili AI and iXAfrica Data Centres are key organizations highlighting this readiness gap and providing AI solutions.
• Simon Bransfield-Garth, CEO of Akili AI, stated that the AI revolution in banking "is not a distant future, it’s happening now."

Verto has launched the Atlas Suite, an embedded finance product designed to simplify cross-border payments for various financial entities. This solution aims to address the challenges of fragmented financial systems and high FX volatility in African markets.

• The Atlas Suite offers a single API integration for banking, foreign exchange (FX), and payment services.
• Ola Oyetayo, CEO and co-founder of Verto, highlighted the suite's role in eliminating hurdles for businesses scaling operations in Africa.
• The suite includes three core offerings: Atlas for Fintechs, Atlas for Platforms, and White Label Broker Services, with Kenya's Triply already integrating Atlas for multi-currency payments.