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Paystack's Silent M&A Stack, Russia's Digital Ruble & Africa's Consolidation Era
Audio is available on Spreaker — see link below.
Paystack quietly built a full financial services stack through undisclosed acquisitions — and the Allawee shutdown reveals the blueprint. Plus: Russia's digital ruble goes live for retail, and what Africa's M&A wave means for fintech's next phase.
Audio is available on Spreaker — see link below.
Paystack just shut down a fintech most people didn't know it owned. That's the clearest signal yet that Nigerian fintech consolidation has entered a new phase.
Zoom out and the pattern becomes clear. Over eighteen months, Paystack assembled what is effectively a full financial services stack.
The immediate problem is the customer migration. Allawee accounts close December first.
Paystack isn't alone in this shift. Flutterwave acquired open banking provider Mono in January twenty twenty-six, valued somewhere between twenty-five and forty million dollars.
On the same day that fintech consolidation is reshaping West Africa, Russia's digital ruble went live for retail use. September first, twenty twenty-six.
Two things are worth watching closely from here. The first is regulatory response to winner-take-most consolidation in Nigeria.
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