The Central Bank of Kenya (CBK)'s Bank Supervision Annual Report 2020 noted that there was a notably high adoption of digital financial services by consumers during the beginning months of the pandemic in the country. This is believed in part due to consumers seeking channels for financial transactions with minimal...
While the COVID-19 crisis has reversed the recent global poverty reduction, according to the UN and other experts, it has also sped up financial inclusion via mobile financial services apps provided by crypto, blockchain and FinTech startups. Many people worldwide take for granted the services billions of others struggle to...
A new survey conducted by Amethyst Consultants on SME perceptions of banking products in Kenya showed that up to 95% of SMEs (9 out of 10 companies) in the country use M-Pesa, Vodafone's mobile money service, according to Business Daily Africa. The survey, commissioned by SNDBX, took place between the...
Lenovo has announced its results for the Group as well as its fourth quarter and fiscal year, revealing growth across all parts of the business. The company says its results demonstrate the Group’s resilience and ability to achieve balanced, consistent, and sustainable growth. “Last quarter, we delivered our fastest-growing quarter...
South African bank, FNB has revealed that contactless payments have surpassed Chip and PIN contact payments for the first time ever among its Credit, Debit, Fusion, and Virtual Card users. The Bank attributes the behavioural shift (from chip contact to contactless) to consumer’s preference and awareness of safer, convenient, and...
Mondia Pay and M-Pesa have partnered to allow Tanzanians to access Mondia’s suite of online content on the Vodacom Tanzania PLC digital services network. This means 7 Million Vodacom Tanzania customers can now make use of their airtime balances via SMS and USSD to subscribe to Mondia digital services including...
Mukuru has partnered with Thunes to expand its digital footprint across Nigeria. The fintech company expects this will streamline the process of cross-border money transfer through a single API connection, resulting in greater speed and operational efficiencies.  “Our partnerships continue to be a source of both innovation and growth across...
As the world went into pandemic lockdown in 2020, consumers shifted their spending habits to embrace contactless tap-and-go payments and online shopping. As stores closed and social distancing took hold, retailers worldwide moved their businesses online, embraced eCommerce and explored the potential of new ways to pay. More than a...
Elon Musk has revealed that Tesla will no longer accept Bitcoin as a form of payment for vehicles - news that has caused the price of the cryptocurrency to crash as much as 15%. "Tesla has suspended vehicle purchases using Bitcoin," writes Musk, "We are concerned about rapidly increasing use...
Today we’re going to talk about an instrument that’s gaining a great deal of popularity lately—the Exchange Traded Fund, or ETF. While an ETF may not have the same visual appeal as, say, a commodity, which may inspire visions of glimmering gold, sprawling oil fields or towering piles of...
Paxful now has more than six million users across its peer-to-peer payments platform. The fintech allows users to buy and sell cryptocurrencies, make payments and send money. “Our mission at Paxful is to give everyone equal access to finance, no matter who they are or where they are, so they...
Trading in commodities like gold, silver, and oil has been at the heart of investing for generations, and it's the accessibility of these markets that make them so attractive to investors. From Asia to Africa, precious commodities are a trading sector that ‘never sleeps’ - a market is always...
Absa has appointed Deon Raju as the new Group Chief Risk Officer - effective 1 June 2021. Raju is currently Absa Group Treasurer, primarily responsible for the liquidity risk, funding, capital, and non-traded market risks of the Group. He has been with Absa for more than 20 years, having held...
The acceleration of eCommerce as the global COVID-19 pandemic revolutionises buying trends is giving rise to exciting new developments in the financial technology industry. According to research by the United Nations Conference on Trade and Development (UNCTAD), eCommerce’s share of global retail trade grew from 14% in 2019 to about...
Nedbank, Mastercard and Ukheshe have partnered to launch Money Message - a new payment platform that lets small businesses receive secure in-chat payments from their customers via WhatsApp. A first in South Africa, the solution is expected to enable merchants to send an invoice requesting payment from any customer seamlessly...
We saw the astronomical comeback of bitcoin last year, with a lot of people rushing to buy bitcoin. Throughout the first six months of 2020, bitcoin sold under $5,009, however, its price went over $20,000 by the end of the year. It is thought that the growth in institutional...
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