Most coverage of African payments tracks consumer wallets and lending apps chasing the same retail customers. The harder opportunity sits one layer down, inside the ageing systems that banks still use to clear transactions at all.
Enza has $6M more to spend after a Seed+ round led by 4DX Ventures. British International Investment, the UK development finance institution, arrived as a new backer, and Quona Capital alongside Algebra Ventures raised their existing positions. The Abu Dhabi-headquartered infrastructure provider announced the raise on November 3.
Twelve African countries host Enza, founded in 2023, through regional offices in Egypt, South Africa, Ghana and Nigeria. Merchant acquiring, online gateways, ATM processing, fraud detection and revenue optimisation form the product set, which lets institutions launch payment products without building their own stack.
A single integration instead of surgery
Replacement is the awkward part of this business. Ripping out core payments technology brings heavy cost, long timelines and regulatory scrutiny, and that is precisely why banks have tolerated incumbents for so long. Enza argues one integration delivers most of the modernisation without the surgery, with merchants and transaction data staying under the bank’s own control.
Hany Fekry, the group chief executive, said existing investors had watched the company deliver and chose to put more capital behind it. Ghana shows the pattern: an enhanced provider licence in June, operations live by September. New markets, more licences and products for banks facing digital-first rivals are where the money goes.
