Hydrogen surpasses HabariPay in Q1 profit growth among bank-owned fintechs
Hydrogen recorded a 466% increase in after-tax profit, reaching ₦283 million in Q1 2025. HabariPay's profit growth was 52%, increasing to ₦1.66 billion in the same quarter.
Next Wave: Banks built the trust. Now they’re building the tech
Kenya's Absa Bank reported that over 90% of customer transactions were happening outside physical branches in 2024. GTBank in Nigeria grew its active digital user base by 38% year-on-year due to a revamped mobile app and chatbot assistant.
BREAKING: Access corp’s fintech arm, Hydrogen, reports 10x profit surge
Hydrogen reported a profit of ₦1.8 billion for the year ended 2024, a tenfold increase from ₦161 million in 2023. Access Corporation's strategic shift to a holding company structure in 2020 has proven successful.
VFD Group invests ₦5 billion in fintech arm, V Bank
VFD Group Plc injected ₦5 billion into VFD Microfinance Bank to accelerate technological advancement. V Bank has established a strong presence in Nigeria's financial sector since its launch in March 2020.
Moniepoint taps Stanbic IBTC CFO as MFB leader, possibly signalling commercial bank ambitions
Moniepoint hires ex-Stanbic IBTC CFO Bayo Olujobi as CFO of its microfinance bank. Moniepoint recently attained unicorn status with a valuation of over $1 billion.
