Flutterwave find its circle

Nigeria’s fintech unicorn, Flutterwave, has joined the Circle Payments Network (CPN) to facilitate cross-border payments across the globe leveraging stablecoins..

Flutterwave joins the network alongside crypto exchange Yellow Card and 25 other payment platforms across the globe.

Circle Payments Network? Launched by Circle Internet Group, the issuers of the USDC stablecoin, CPN connects banks, neobanks, payment service providers, virtual asset firms, and digital wallets worldwide and allows for real-time settlement of cross-border payments using regulated stablecoins.

Why does CPN matter? Despite years of reform, cross-border payments are still slow and costly. Sometimes transactions take over a day to settle, and fees average above 6%, according to the World Bank. This friction, which mostly comes from intermediaries, compliance checks, time zone mismatches, and legacy infrastructure, makes stablecoins a faster, cheaper alternative. CPN’s pitch is to make transaction near instant using stablecoins.

The network leverages USDC, EURC, and other regulated digital currencies for real-time payments and supports third-party developers building apps and financial workflows on top of the network.

The CPN is a great boost for Flutterwave’s cross-border product, Send. Through USDC and EURC, Flutterwave can reduce settlement timelines for its enterprise merchants who move bulk money at scale. The fintech will also be able to help small businesses across the continent pay international vendors and suppliers almost instantly.

IZI Electric is bringing the fight to Roam in Rwanda.

Rwanda-based e-mobility startup IZI Electric unveiled the Impala E30 , a 30-seater electric coach designed to challenge Roam Buses and redefine long-distance public transport in East Africa.

The Impala E30’s headline feature is a 10-year/1-million-kilometer warranty on its battery system. The warranty, aimed at easing financial anxieties among fleet operators and lenders, is a major leap from the 4-year, 400,000-kilometer warranties standard among other players, including Roam.

Roam, the Kenyan-Swedish EV player best known for its electric buses and motorcycles, has largely focused on urban transit. In Rwanda, Roam is actively working with local operators but its electric buses—though clean and efficient—offer shorter-range options and lack the ultra-long warranty coverage IZI is banking on as its differentiator.

The Impala E30 is engineered for 400+ km daily routes and built tough with anti-corrosion materials, reinforced waterproofing, and suspension systems ready for unpaved roads. It’s priced 10–40% lower than European and Chinese imports and promises up to 87% fuel savings over 10 years—a compelling economic case for fleet operators.

The company will begin leasing the Impala E30 in June, with 50+ preorders already in place across East Africa.

In more news from East Africa, Kenya’s Central Bank is slogging it out with commercial banks over high lending rates. In the past decade, the regulator has made several interventions, including capping interest rates to enable cheaper credit to the private sector.

The central bank has now proposed a new framework that will peg lending rates to the Central Bank Rate (CBR). Interest rates will be set by adding a premium—“K”—to CBR. The premium will include the bank’s operating costs tied to lending, the return expected by shareholders, and the borrower’s risk profile.

The decision follows frustration within the CBK over the banking sector’s reluctance to lower interest rates despite multiple reductions in the benchmark lending rate since October 2024. The CBK recently cut the Central Bank Rate (CBR) to stimulate lending and economic activity, but banks have largely maintained high lending rates, citing internal risk assessments.

The outgoing risk-based pricing model, which allowed banks to decide on loan rates depending on individual borrower profiles, has faced criticism for being opaque and prone to abuse. When it was introduced in 2019, the regulator intended to encourage lending to riskier customers; in practice, it has resulted in prohibitively high rates, especially for SMEs and households without credit histories.

Under the model, banks combined the base rate as a reference rate with risk-adjusted factors, such as a borrower’s creditworthiness, collateral, and overall financial behaviour.

DigiSquad, a Johannesburg-based fintech company specializing in payment advisory and software solutions, has secured an undisclosed investment from Crossfin, the venture capital arm of a prominent South African fintech group, Crossfin Technology Holdings.

The investment from Crossfin is expected to accelerate DigiSquad’s regional expansion and further development of its platform, positioning it to compete with larger incumbents in the payments space.

Founded in 2015 by Bishmen Kumalo, DigiSquad offers consulting, product development, and data analytics, tailored to the unique needs of both public and private sector clients. The startup’s most recent product, DigiEngine, a cloud-based payments and vending platform was recognized as one of only five platforms nationally licensed to manage Eskom’s electricity vending system, underscoring its technical robustness and strategic significance.

DigiSquad’s focus on creating solutions tailored to communities often ignored by traditional financial institutions sets it apart from competitors. As a black woman-owned enterprise, it addresses the dual challenges of financial exclusion and representation within the industry.

Crossfin is bullish on Digisquad’s mission of supporting scalable, locally-attuned fintech solutions capable of transforming financial services in emerging markets. Kumalo noted that Crossfin’s demonstrated commitment to supporting fintechs focused on high-impact, often underserved segments like DigiSquad, was a key factor in their decision to partner.