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Investec and BankservAfrica reveal prototype of blockchain-based identity system

March 15, 2019 • Company News, Finance, Southern AfricaComments Off on Investec and BankservAfrica reveal prototype of blockchain-based identity system

At the recent Blockchain Africa conference in Johannesburg, Investec, in collaboration with BankservAfrica and uPort, demonstrated a digital identity system anchored in the Ethereum blockchain. The initiative was born in the digital identity working group of the SA Financial Blockchain Consortium (SAFBC). The identity system enabled each conference attendee...

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Big names behind SiSebenza bringing change to South Africa economy

March 13, 2019 • Finance, StartupsComments Off on Big names behind SiSebenza bringing change to South Africa economy

SiSebenza, the new South African business that is driving social and economic change in South Africa, is already disrupting the local market through its work with global collaborative workspace provider WeWork. SiSebenza is supporting WeWork’s drive to...

Ecentric Payment Systems boosted by strategic global investment

Ecentric Payment Systems boosted by strategic global investment

March 12, 2019 • FinanceComments Off on Ecentric Payment Systems boosted by strategic global investment

Ecentric Payment Systems, a payments company in South Africa, announced that Financial Software and Systems (FSS), a global digital payment and financial technology company, has made a strategic investment in the company to accelerate growth momentum into...

Spaza shop fintech closes a gap in this R40bn cash market

Spaza shop fintech closes gap in $2.8bn cash market

March 12, 2019 • Finance, Southern Africa, Top StoriesComments Off on Spaza shop fintech closes gap in $2.8bn cash market

It is estimated that the spaza shop market in South Africa is valued at around R40 billion per year and that 90% or more of the transactions are in cash. This market is growing at around 10% each year. Despite this alarming statistic of unaccounted cash,...

20 African start ups enter World Bank Group tech acceleration program

20 African startups enter World Bank Group tech acceleration program

March 12, 2019 • Finance, Startups, Top Stories, West AfricaComments Off on 20 African startups enter World Bank Group tech acceleration program

Twenty Francophone African tech startups will participate in the L’Afrique Excelle residency in Mali, a full-week boot camp set to kick off the Francophone edition of the World Bank Group’s XL Africa, tech start-up accelerator. From 24 to 30 March,...

Why mobile wallets are struggling

Why mobile wallets are struggling

March 11, 2019 • FinanceComments Off on Why mobile wallets are struggling

Mobile wallets may offer some convenience, but until they offer a broad range of simple, seamless transaction capabilities, and give users more value than that of their cash alone, they will still lack consumer ‘stickiness’. This is according to Kobus du...

Nigeria: OneFi secures $5 mln debt facility

Nigeria: OneFi secures $5 mln debt facility

March 9, 2019 • Finance, Startups, Top Stories, West AfricaComments Off on Nigeria: OneFi secures $5 mln debt facility

One Finance Limited has announced that it has secured a $5 million debt facility for its consumer-facing platform, Paylater. The facility comes from New York and Nairobi-based Lendable, a technology-enabled funding provider to African consumer and SME...

Visa Everywhere Initiative celebrates women entrepreneurs

Visa Everywhere Initiative celebrates women entrepreneurs

March 8, 2019 • Finance, Startups, Top StoriesComments Off on Visa Everywhere Initiative celebrates women entrepreneurs

In celebration of International Women’s Day, Visa has announced the launch of the first Visa Everywhere Initiative: Women’s Global Edition. The global program invites women entrepreneurs from around the world to tackle FinTech and Social Impact challenges...

Nedbank incorporates virtual assistant into its banking app

Nedbank incorporates virtual assistant into its banking app

March 8, 2019 • FinanceComments Off on Nedbank incorporates virtual assistant into its banking app

Nedbank has incorporated a lifestyle enhancing virtual assistant into its banking app. With the exciting addition of two new features in the Nedbank Money app, these life-enhancing digital solutions are set to catapult the highly rated, award-winning MoneyApp...

Cassava Fintech launches cross border money transfer service

Cassava Fintech launches cross border money transfer service

March 7, 2019 • Finance, Southern Africa, Top StoriesComments Off on Cassava Fintech launches cross border money transfer service

Cassava Fintech South Africa, a member of the Econet Group, has launched an enhanced cross-border money transfer service from South Africa to the rest of Africa. Darlington Mandivenga, Group CEO for Cassava Fintech International, says although the remittances...

Sasfin, Hello Paisa launch digital bank in South Africa

Sasfin, Hello Paisa launch digital bank in South Africa

March 7, 2019 • Finance, Southern AfricaComments Off on Sasfin, Hello Paisa launch digital bank in South Africa

On Wednesday, 06 March 2019, Sasfin announced a partnership with Hello Paisa to offer a digital banking solution. Backed by the banking capabilities of Sasfin, the offering is banking reimagined: a bank designed for everyday individuals who know what matters...

FNB Connect reduces Lifestyle Top Up package price

FNB now offers digital payment with Samsung Pay

March 5, 2019 • FinanceComments Off on FNB now offers digital payment with Samsung Pay

FNB and RMB Private Bank have announced that customers who own a compatible Samsung smart device now have the option to use Samsung Pay to make secure contactless payments at almost any payment terminal in South Africa. Raj Makanjee, FNB Retail CEO, says,...

Mastercard Foundation Fund selects 5 African countries for Rural Prosperity

Mastercard Foundation Fund selects 5 African firms for Rural Prosperity

March 5, 2019 • East Africa, Finance, Southern Africa, West AfricaComments Off on Mastercard Foundation Fund selects 5 African firms for Rural Prosperity

The Mastercard Foundation Fund for Rural Prosperity (FRP) has announced that five companies will receive a total of US$4,438,551 to support its financial inclusion agenda in Africa. The five companies, with projects in Burundi, Ghana, Mali, Tanzania, and...

Ericsson and Orange launch 4G network in Sierra Leone

MTN and Ericsson extend mobile money partnership in Africa

March 4, 2019 • Finance, Mobile and Telecoms, Top StoriesComments Off on MTN and Ericsson extend mobile money partnership in Africa

MTN and Ericsson have signed a five-year contract extension to deploy new products and provide Managed Services for Mobile Money services in 13 countries across Africa and the Middle East. The new contract includes deployment of Ericsson Wallet Platform in...

Visa, Branch collaborate to expand financial access across Sub-Saharan Africa

Visa, PayMate partner to fast-track digitisation of B2B payments in the region

February 27, 2019 • Finance, Top StoriesComments Off on Visa, PayMate partner to fast-track digitisation of B2B payments in the region

Visa and PayMate have announced an expanded collaboration to provide Visa’s issuing financial institution clients in the Central and Eastern Europe, Middle East and Africa (CEMEA) region with access to PayMate’s proprietary payment platform for...

The youth prefers to bank smart with digital channels

The youth prefers to bank smart with digital channels

February 26, 2019 • Finance, Southern Africa, Top StoriesComments Off on The youth prefers to bank smart with digital channels

Statista.com, the global statistical data portal estimates that the number of smartphone users in South Africa will reach 22 million in 2019. This is in line with FNB’s data which indicates an increase in banking via digital channels by young people,...