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HomeSend, Mastercard aim to transform $3bn remittance industry in Ethiopia
HomeSend and the Commercial Bank of Ethiopia (CBE) announced a new remittance service at the US-Africa Business Forum, that will allow more than 100 million Ethiopians to send funds directly to any mobile number in the East African country. Launched…
Mukuru, EcoCash simplifiy money transfers to Zimbabwe
Mukuru has partnered with EcoCash, a Zimbabwean mobile money provider, to offer a quick and easy way of sending money to Zimbabwe. The partnership was facilitated and structured by Cassava, a wholly-owned financial technology (FinTech) subsidiary of the Econet Group.…
GetBucks snaps up former Barclays digital chief
GetBucks  has appointed  Evans Munyuki as the company’s new Chief Digital and Information Officer.  GetBucks is a subsidiary of Frankfurt-listed FinTech company, MyBucks S.A. Prior to taking up the position, Munyuki was the Head of Digital for Barclays Africa Business Bank.…
Banks grapple while nimble players eat their lunch
Financial inclusion is a critical engine of economic development at both macro and micro levels. Technology – and access to mobile phones – could make financial services accessible and available to nearly 4 billion people who are ignored or underserved,…
A study reveals how digital payments can boost tax revenue
A new study  from the United Nations-based Better Than Cash Alliance provides findings about the large potential gains for governments, businesses and citizens when digitizing payments. Many emerging economies are grappling with how to modernize their economies, improve transparency, drive…
Middle East, Africa IT Spending to Top $110 Billion for the Year Despite Challenging Economic Conditions
According to the latest ‘Worldwide Semiannual IT Spending Guide, annual IT spending in the Middle East and Africa (MEA) is predicted to reach $110.94 billion this year, representing year-on-year growth of 5.1%. The global technology research and advisory services firm…
FinTech companies to tackle financial inclusion
While the developed world may take financial access – and associated financial infrastructure for granted, simple financial terms, products and services like savings accounts, debit cards and credit are completely foreign to large populations in developing regions and specifically across…
SME finance comparison website launches
A new online portal that instantly compares finance options is now available to small and medium enterprises (SMEs). The portal is helping to address the number one challenge that SMEs in South Africa face – access to finance. The first…
Visa partners Kenyan banks to introduce mVisa
Visa Inc. introduced mVisa, a new mobile payment service that will accelerate digital commerce in Kenya and across Africa. As part of its initial roll-out, Visa has partnered with Co-Operative Bank, Family Bank, KCB and NIC Bank to deliver this…
Tigo Cash goes International
Tigo Cash has recently launched an innovation that allows customers to buy international airtime for friends and families in Ghana and overseas. Effective from September 13, 2016, all Tigo cash customers can purchase airtime for over 100 countries across the…
MTN SA shuts down Mobile Money service
MTN SA has taken a decision to decommission its Mobile Money offering due to lack of commercial viability. MTN is working with its mobile money partners to ensure that its customers are not adversely affected. Launched in 2012, the mobile…
Cyber attacks could result in a $2.1 trillion loss
According to Gartner businesses could lose close to USD2.1 trillion by 2019 globally as a result of cyber attacks. This is concerning, especially in today’s society where cyber attacks are becoming more sophisticated and occurring more frequently due to the…
South Africa: FNB App making strides among millennials
FNB has revealed that about 60% of their App users are millennials. This tech savvy generation falls under the 16 -36 age brackets and value the role of technology in their daily lives. The banking App boasts over 2 million active…
Barclays Africa in world first blockchain transaction
Africa was at the forefront of technological change this week as Barclays Africa and its UK parent company Barclays plc completed the world’s first trade finance transaction using blockchain technology. The trade, between Ireland and the Seychelles, was based on…
Ecobank, Mastercard launch Masterpass QR in Nigeria
Ecobank Group has partnered with Mastercard to launch Ecobank Masterpass QR, an enhancement to the Masterpass global digital payment service that will enable millions of micro, small and medium enterprises (MSMEs) in Nigeria to accept fast and secure digital payments…
MTN enters the insurance business
MTN Group and MMI Holdings today announced the launch of a micro insurance joint venture, branded aYo. The joint venture will benefit from the scale, combined expertise and market access of both companies, to provide a strong basis to compete…
