Business
Africa’s Fintech Infrastructure Gets Boost! Flutterwave Acquires Nigerian Open Banking Startup Mono in $40m Deal
Africa’s largest fintech company, Flutterwave, has acquired a significant stake in Nigerian open banking startup Mono in a deal valued at about $40 million, marking one of the most notable fintech transactions on the continent in recent years.
The acquisition, first reported by African Business Insider, brings together two influential players in Africa’s financial technology ecosystem and underscores growing momentum around open banking as a foundation for the next phase of digital finance across the continent.

Flutterwave, which operates payment services across more than 30 African countries, said the deal aligns with its long-term ambition to build a more connected and interoperable financial system. The company views open banking as a core pillar of future growth, particularly as African markets move beyond traditional card-based payments toward data-driven and account-to-account financial services.
Mono, a pioneer of open banking infrastructure in Nigeria with expanding operations across Africa, provides API-driven access to financial data, identity verification, and direct bank-to-bank payments. These capabilities are increasingly critical as businesses, regulators, and consumers demand more secure, transparent, and trusted financial services.
Under the terms of the agreement, Mono will continue to operate as an independent product, with no changes to its leadership, team, or day-to-day operations. Flutterwave’s stake is structured to support strategic alignment rather than operational control, allowing Mono to maintain its pace of innovation while contributing its technology to Flutterwave’s broader payments ecosystem.
Flutterwave founder and chief executive Olugbenga Agboola said the acquisition reflects a broader rethinking of how Africa’s financial infrastructure must evolve.
“Payments, data, and trust cannot exist in silos,” Agboola said. “Open banking provides the connective tissue, and Mono has built critical infrastructure in this space.” He added that the deal expands what is possible for businesses operating across African markets while remaining firmly grounded in security and regulatory compliance.
By integrating Mono’s open banking APIs, Flutterwave expects faster merchant onboarding, improved customer verification, reduced fraud, and more seamless account-to-account payments. The company is also exploring longer-term opportunities in alternative payment methods, including open banking-enabled stablecoin use cases, as demand grows for locally relevant and authenticated payment flows.
Mono founder and chief executive Abdulhamid Hassan said the acquisition builds on an existing relationship between the two companies, which began with a partnership in 2021.
“Since our first partnership with Flutterwave, we have seen the power of a coordinated effort toward unlocking Africa’s open banking potential,” Hassan said.
According to him, combining Mono’s data and identity capabilities with Flutterwave’s scale and global reach creates a more comprehensive and defensible infrastructure layer for the next generation of African fintech companies.
The transaction also represents a strong exit for Mono’s investors, with some early backers reportedly achieving returns of up to 20 times their initial investment. Analysts say this signals increasing maturity in Africa’s startup ecosystem, where large-scale exits have historically been limited.
The deal was advised by Nichole Yembra of The Chrysalis Advisors Africa and comes at a time when regulators, developers, and businesses across the continent are pushing for financial systems that are open by design, interoperable, and built on trust.
For Ghana and other fast-growing fintech markets in Africa, the Flutterwave–Mono deal highlights how cross-border infrastructure partnerships are reshaping digital finance and positioning African companies to compete more effectively on the global stage.
Business
Young Self-Taught Black Inventor Julian Brown Develops Revolutionary Plastic-to-Fuel Technology
Atlanta, USA – A young Black inventor from Atlanta, Julian Brown, has stunned the scientific community and gone viral worldwide after developing a backyard process that converts everyday plastic waste into usable diesel, gasoline, and jet fuel.
Born in Tennessee and raised in Atlanta, Brown — a self-taught welder with no formal degree or laboratory — created a system called “Plastoline.”
Using an upgraded form of pyrolysis (a thermal decomposition process), enhanced with microwaves and solar energy for cleaner conversion, he built a small reactor capable of turning discarded plastics back into high-quality fuel.
Independent tests reportedly confirmed that the diesel and gasoline produced are among the most refined seen, and he has successfully powered vehicles with the fuel in live demonstrations.
Brown launched a startup called Nature Jab and began sharing his experiments on Instagram and TikTok, where the videos quickly gained millions of views globally. Despite suffering second-degree burns in a reactor explosion, he refused to abandon the project.
He attempted to raise $1 million to scale the technology but secured only tens of thousands of dollars. In July 2025, he posted that he was under attack before temporarily vanishing from public view.
He has since re-emerged, with supporters calling for his protection and greater investment in his work.
The innovation has sparked particular excitement across Africa, where plastic waste accumulates in massive quantities in landfills and communities.
Experts say Brown’s technology could offer a practical solution for turning waste into energy, addressing both environmental pollution and fuel shortages on the continent.
Commentators have criticised the lack of substantial support from investors and the broader community, questioning why a breakthrough with such transformative potential, especially from a young Black inventor, has not received wider backing.
Business
MTN Signals Major Data Center Investment Plans in Ghana
Accra, Ghana – MTN Group is exploring significant investments in data centers in Ghana as Part of its digital push.
The telecoms giant says the move is a natural extension of its broader digital infrastructure strategy in one of its most important African markets.
Group Chief Executive Officer Ralph Mupita made the announcement during a strategic visit to Ghana at the beginning of 2026. He said the company is keen to partner with both public and private stakeholders to develop large-scale data centers that would enhance cloud computing, data storage, and digital service capabilities across the country.
Mupita stated that such facilities are critical to supporting Ghana’s long-term digital transformation and economic growth.
He acknowledged, however, that establishing world-class data centers would require addressing key infrastructure challenges, particularly reliable power supply, suitable land, and advanced cooling systems. MTN is therefore considering collaborative models to ensure projects meet both commercial viability and sustainability standards.
During his engagements, Mupita held discussions with MTN Ghana’s leadership, regulators, and senior government officials, including the Bank of Ghana, the Ghana Investment Promotion Centre, and Minister for Communications, Digital Technology and Innovations, Sam George.
He described Ghana as a priority market that “feels like home” and reaffirmed the Group’s commitment to deepening investments in digital infrastructure and financial inclusion.
On the fintech front, Mupita highlighted plans to expand mobile money services while working closely with the central bank to strengthen fraud prevention through artificial intelligence.
The visit underscored MTN’s ambition to remain a key partner in Ghana’s digital economy, driving innovation, job creation, and inclusive growth.
MTN Ghana (Scancom PLC) is the dominant telecommunications market leader in Ghana and has been recognized as a top-performing operation within the MTN Group. The company is actively shifting from a traditional telco to a technology platform company, with a focus on fintech (Mobile Money) and digital inclusion.
Business
New Cashew Processing Plant and Fertilizer Facility to be Set Up in Ghana
Accra, Ghana – Ghana’s Ministry of Food and Agriculture has signed three Memoranda of Understanding with Chinese firm SENTUO Group Limited to drive agro-industrial growth through major new investments in processing, fertiliser production, and farmer support services.
The agreements, signed in Accra on Tuesday, include the establishment of a cashew processing plant at Sampa in the Bono Region and a fertiliser manufacturing facility. SENTUO will also roll out 30 Farmer Service Centres nationwide to improve access to quality inputs, mechanisation services, and technical support for farmers.

The projects are expected to create significant employment opportunities, particularly for young people, while enhancing value addition and reducing Ghana’s reliance on raw commodity exports.
Minister for Food and Agriculture Eric Opoku described the partnership as a major step toward the government’s Agriculture for Economic Transformation Agenda.
“We are ready to industrialise Ghana’s agriculture,” he said, adding that the cashew plant will process both nuts and apples to maximise returns across the entire value chain.
He emphasised the need to move from exporting raw produce to building a vibrant, value-driven agro-industrial economy.
The Chairman of SENTUO Group Limited, Xu Mingjuan, said the company’s nearly 20 years of operation in Ghana and the current government’s 24-hour economy policy had encouraged further investment. He confirmed that engineers have already started preliminary work on the projects.
The deals signal growing Chinese interest in Ghana’s agricultural transformation and are expected to strengthen food security, boost exports, and create sustainable jobs across the value chain.
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