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Djibouti joins Africa Finance Corporation
Djibouti has become the newest member of Africa Finance Corporation (AFC), an international investment grade multilateral finance institution investing in key infrastructure projects across Africa. Mr Ali Guelleh Aboubaker, Minister of Investments in the Office of the President, commented on…
South Africa: FNB solves crippling connectivity issues
First National Bank (FNB) has confirmed that it has resolved the connectivity issue that has plagued its customers since 24 July, 2016. On 25 July 2016 FNB confirmed, via a media statement, that it was aware of intermittent connectivity issues.…
Regulations could be an innovation enabler for banks
Banks are faced with a real conundrum. They are expected to deliver relevant and innovative new services to a discerning customer base and, at the same time, are facing an ever-tightening regulatory regime. However, the astute institution could view these…
United Bank Africa and Mastercard reveal Pan African partnership
United Bank Africa (UBA) and Mastercard have announced a partnership which will see UBA act as the issuer for MasterCard in 18 new markets in Africa. The partnership, which came into effect in 2016, will see UBA issue Mastercard credit,…
Uber and PwC to close the transport industry tax gap in Nigeria
Charging to drive someone around Lagos was chiefly a cash-in-hand job before Uber launched in Nigeria two years ago. To this day, the rest of the transport industry remains largely informal, with no clarity on how much money is made…
South Africa: Absa launches Masterpass App
Absa has revealed that it has launched the Absa Masterpass App. According to the company, the App is a digital wallet powered by Mastercard. The app is set to enable South African consumers to make safe and easy payments wherever…
FinTech business in Africa makes use of A.I & credit technology
MyBucks, a German listed FinTech company that holds three brands GetBucks, GetSure and GetBanked, has said its partnership with NGO (non-governmental organisation) Opportunity International continues to take strides forward in their vision of bringing financial inclusion to the unbanked and…
Research reveals that mobile banking increases financial inclusion
The SWIFT Institute, in partnership with the Harvard Kennedy School, has released new research on the impact of mobile banking on financial inclusion. The report, ‘A Quantum Leap Over High Hurdles to Financial Inclusion: The Mobile Banking Revolution in Kenya’,…
Top tips to keep your financial data safe on the internet
With the rise of e-commerce in Africa, it is almost unavoidable to buy products online or give your personal information to websites. While this development has made buying and selling so much easier, it has also increased the risk of…
Top 5 factors that differentiate fintech in Africa
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…
Does South Africa lack FinTech skills?
FinTech is a booming industry throughout the African continent, but South Africa is reluctant to take advantage of this opportunity. This is largely due to a lack of skills and training, particularly in financial literacy. Future Talent Academy, a subsidiary…
Safaricom Kenya denies KRA access to taxpayers M-Pesa accounts
According to a report published via Business Daily, Kenyan operator Safaricom has rejected the Kenya Revenue Authority’s (KRA) request to gain access to its customers’ mobile money records. This move, according to the report, prevents the KRA from exposing those…
Using digital evolution as a means to unlock Africa’s economic potential
Africa’s digital economy is slowly evolving, showing huge potential for the continents transformation towards a cashless society. Whilst the progress has been slow, African countries share some of the world’s highest speeds of digital growth. Electronic payment systems are superseding…
Mobile money could give Kenyan entrepreneurs a business boost
Much has been said and written about how person-to-person mobile money transactions are transforming Kenya’s economy, but the technology also has the potential to help entrepreneurs take their businesses to the next level. That’s according to Dr. Rutendo Hwindingwi, divisional…
Kenya: Safaricom strikes M-Pesa deal with Carrefour Hypermarket
The Carrefour hypermarket chain, located within Kenya, has become one of the first retailers in Kenya to fully integrate Safaricom’s payments service “Lipa Na M-Pesa.” According to Safaricom, customers shopping at Carrefour now have the ability to complete payments faster.…
Dealing with the dark side of rapid digitisation in Financial Services
Across the African continent, organisations offering banking, lending, insurance, trading, and payments services are seeing the opportunities for technology to increase levels of financial inclusion, and delight customers with superior experiences. In fact, due to vast geographies and generally poor…
