PalmPay : expansion into South Africa, Ivory Coast, Uganda, and Tanzania by 2025

Nigerian fintech PalmPay plans to expand into South Africa, Ivory Coast, Uganda, and Tanzania by the end of 2025. This expansion follows a strong performance in Nigeria, where the platform processed over 15 million daily transactions in the first quarter of 2025. With 35 million users and an average of 50 transactions per user per month, PalmPay aims to offer B2B services in Tanzania. In 2024, the company paid out 4 billion euros ($2.4 million) in interest to 9 million users through its wealth product.