South Africa’s Fintech scene is growing rapidly, with a number of exciting local Fintech players attracting attention and venture capital investment. They’re carving out high-tech niches in all sorts of arenas: mobile money, social lending, bitcoin wallets, mobile card acquiring, identity management, insuretech, mobile authentication, financial chatbots and more. For...
Africa is at the forefront of mobile banking (M-banking). It is also one of the continents with the lowest levels of financial inclusion. Because of the penetration of the mobile phone in the telecommunications sector, mobile banking has taken off successfully in some parts of Africa, especially in Eastern...
South Africa’s 2018 Q2 and Q3 negative economic growth means that the country’s economy is in a technical recession. And while Business Services is one sphere showing growth (of 1.9%, along with Finance and Real Estate), this does not mean that the ICT sector – a major partner and supporter...
As Cryptocurrencies continue to gain popularity, recent breaches reinforce the need for vigilance and knowledge to protect online assets. In the case of cryptocurrencies, we are presented with a new set of challenges in how security, identity and access are managed. Due to their decentralised nature, cryptocurrencies present both...
mCoin is the world’s first Cryptocurrency which works on any mobile with or without the internet. It is supported on ONEm’s mobile ecosystem with many practical applications. So far more than 30,000 people from over 150 countries own mCoin and are participating in the ongoing Initial Coin Offering (ICO). The...
How we finance and manage our business in today’s South Africa is changing thanks to the increasingly important role of technology. Key developments in financial technologies are freeing small businesses and entrepreneurs from the evils of spreadsheets, outdated systems and shoeboxes full of receipts. Several key trends are set to...
Many countries around the world are becoming increasingly urbanised and cities are being re-imagined. Rapid regeneration coupled with advances in technology have forced real estate developers to think of innovative ways to embrace the changing needs of residents in cities that are adopting a “smart” approach to development. “One of...
Kevin Johnson Head of Innotribe Innovation Programmes at SWIFT, says Innotribe has learned from its work with the FinTech ecosystem.  “Always start with clearly identifying what problem you are trying to address. If you don’t, you end up with a solution which is looking for a problem. By adopting...
One Finance Limited (OneFi) has announced the acquisition of Amplified Payments (Amplify), a fintech company that builds and facilitates payment solutions and digital financial transactions in Nigeria. The deal, completed for an undisclosed fee, will see OneFi boost its financial services offering, as the company adds Amplify's assets, tradements and...
Fintech in Africa, as elsewhere in the world, is big business. Investment is flooding into startups providing innovative ways of offering financial services. Startups in the fintech space took on almost 30 per cent of the total funding raised by African tech businesses in 2015. Globally, growth in the sector is huge, with...
The ease and convenience of banking on a mobile device is undeniable. However, this luxury does not come without any risk as cyber crime continues to plague various industries by taking advantage of the unknowing consumer. This threat has seen banks make a concerted effort to educate their customers...
61% of the adult population in Nigeria is un- or underbanked. Fintech companies like Paylater represent an opportunity to get formal banking services in the hands of Nigerian consumers to provide liquidity for entrepreneurial investment, personal development, or unexpected expenses. Consumer credit is nearly non-existent in Nigeria. But, Paylater is...
What is digital transformation? Simply put, it’s leveraging digital business, which Gartner defines to be the creation of new business designs by blurring the digital and physical worlds, to reach goals that could not be reached earlier, faster, or cheaper, otherwise. It is a journey that started with the rise...
In June 2019, Facebook unveiled details behind its long-anticipated cryptocurrency, Libra. The company’s new digital platform is said to allow users to send and spend money at a next-to-nothing fee. While the coin is only going public in 2020, it’s garnered much anticipation from crypto-enthusiasts and even more scepticism...
MasterCard has unveiled the launch of MasterCard Labs for Financial Inclusion, a new initiative seeking to impact more than 100 million people globally by developing practical and cost-effective financial tools that expand access and help build stable futures over the long term. Through an $11 million grant over three years...
Visa announced that Marianne Mwaniki has joined the company as Senior Vice President of Social Impact, with responsibility for the company's comprehensive strategy in the areas of financial inclusion, financial literacy, corporate social responsibility and corporate giving programmes. In this new role, Ms Mwaniki will also lead the Visa Foundation,...
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