Fintech firm Avenews is enhancing farmers' access to credit in Kenya by utilizing technology and transaction data to assess creditworthiness. According to Avenews Group CEO Jonathan Tseloon, the company analyzes business records such as M-Pesa statements and bank statements, moving away from traditional security methods to improve agricultural financing.

The rebranding of Credable to _able highlights the importance of credit infrastructure in Africa, according to TechTrends KE. While consumers typically interact with familiar financial service brands like banks and fintechs, the underlying infrastructure remains largely unseen. The Dubai-based company believes that enhancing this infrastructure presents a significant opportunity for growth in the African financial services market.

Nairobi-based fintech Flowt has raised a pre-seed funding round as it works toward building a $1 million loan book for small and medium-sized enterprises. According to TechCabal, the company uses artificial intelligence to analyse financial records, including bank and M-Pesa statements and accounting data, to assess small businesses' creditworthiness. Flowt says many companies are excluded from traditional lending because banks lack reliable financial histories on them.

The African fintech industry is transitioning from short-term consumer lending to financing small businesses, driven by increasing regulatory scrutiny and government initiatives aimed at promoting credit in productive sectors. Analysts suggest that this trend will enhance access to finance for Micro, Small and Medium Enterprises (MSMEs), reflecting a significant shift in lending practices within the sector, according to Daily Trust.

Google has selected 15 AI-focused startups from various African countries including Nigeria, Kenya, South Africa, Uganda, Tanzania, Senegal, Côte d’Ivoire, and Angola for its Google for Startups Accelerator Africa program. This initiative emphasizes a transition towards scalable and revenue-generating innovations within the continent's tech ecosystem. The startups, which span sectors such as fintech, mobility, healthtech, agritech, and SaaS, completed a three-month hybrid program.

Centenary Bank has launched Gonza Pay, a secure digital wallet aimed at enhancing financial transactions in Uganda. This initiative comes as the country experiences significant growth in digital financial services, despite a continued reliance on cash among many citizens, according to TechJaja.