Reap, Fincra Sign MoU to Power Cards and Cross-Border Payments Innovation Across Africa
Fincra and Reap have announced a formal partnership to transform cross-border payments between Africa and Asia...
✨ Key Highlights
Fincra and Reap have signed a Memorandum of Understanding (MoU) to innovate card and cross-border payment solutions, specifically aimed at enhancing trade between Africa and Asia.
- The partnership is Reap’s first strategic alliance in Africa, leveraging Fincra’s African payment rails with Reap’s stablecoin-enabled infrastructure.
- Both companies will explore Card-as-a-Service (CaaS) solutions and programmable spend controls for African fintechs and SMEs.
- Sub-Saharan Africa recorded an average remittance cost of 8.37% in Q2 2024, while accounting for 43% of global crypto transactions in 2024, highlighting the need for efficient cross-border payment alternatives.
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African Tech Sector Sees VC Funding Rebound, New Partnerships, and Skills Expansion - September 2025
African venture capital funding is rebounding in 2025, with total funding already exceeding US$2 billion across 500 deals, doubling the figures from the same period in 2024. In the fintech space, Fincra and Reap signed a Memorandum of Understanding (MoU) to innovate card and cross-border payment solutions to enhance trade between Africa and Asia. To address youth unemployment, the non-profit Binary Tree has expanded its digital skills training across Africa and Asia, empowering over 1,100 students. In another development, Smart Applications International Limited, a biometric and healthcare technology firm operating in 12 African countries, has been recognized as a Superbrand.
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