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FinTech

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Deep dive into East Africa's tech startup ecosystem
  • Africa Tech Perspectives
New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.
SA power cuts knock $38M off MTN Group earnings
  • Paula Gilbert
Extensive power cuts in South Africa impacted MTN Group's earnings by R695 million ($38 million) as the operator plans to ramp up installation of more power backups for towers across the country.
Safaricom falls victim to $4M SIM card fraud
  • Matshepo Sehloho
Kenya's Directorate of Criminal Investigations (DCI) has arrested eight suspects for alleged SIM card fraud involving Safaricom's M-Pesa overdraft service Fuliza.
African tech startup funding hits $3.3B in 2022
  • Paula Gilbert
Investment in Africa's tech startup ecosystem passed $3 billion for the first time in 2022, with Nigeria taking the biggest piece of pie and fintech dominating other sectors, according to a report from Disrupt Africa.
MTN Nigeria profit soars in 2022
  • Paula Gilbert
MTN Nigeria has reported a strong set of results for 2022, with profit up over 20% and users growing 10% despite SIM registration challenges, high inflation rates and macroeconomic pressure.
Egypt acquisition boosts Vodacom quarterly revenue
  • Paula Gilbert
Vodacom is already seeing an earnings boost from its December acquisition of a 55% stake in Vodafone Egypt, reporting double-digit Group revenue growth for the third quarter.
12 more Kenyan digital lenders get licenses
  • Matshepo Sehloho
The Central Bank of Kenya has licensed a further 12 digital lenders, bringing the total number of licensed Digital Credit Providers (DCPs) in the country to just 22.
Kenya High Court suspends mobile money fees
  • Matshepo Sehloho
The Kenyan High Court has suspended charges for sending money between mobile money wallets and bank accounts pending the determination of a consumer rights lawsuit.
MTN MoMo to offer personal loans in SA
  • Paula Gilbert
MTN Mobile Money (MoMo) is offering personal loans in South Africa of up to R180,000 (US$10,540) as it moves to meet a rising demand for mobile fintech services on the continent.
Kenya reinstates mobile money fees
  • Matshepo Sehloho
The Central Bank of Kenya says as of January 2023, charges for sending money between mobile money wallets and bank accounts will be reinstated.
Safaricom launches M-Pesa Go for youth
  • Matshepo Sehloho
Kenyan telecoms operator Safaricom has launched a youth-oriented service, M-Pesa Go, which aims to teach digital financial skills to young people.
Kenya's NCBA eyes M-Shwari expansion deals
  • Matshepo Sehloho
Kenyan NCBA Group is reportedly ready to launch mobile phone banking services M-Shwari in Ghana, Ethiopia and the Democratic Republic of Congo (DRC).
Mastercard eyes African fintech potential
  • Paula Gilbert
Mastercard VP Muhammad Nana spoke with Connecting Africa on the sidelines of MWC Africa about the growth potential in Africa's fintech sector and how Mastercard is partnering and investing in local fintech companies.
Airtel Kenya spins off mobile money unit
  • Matshepo Sehloho
Airtel Kenya has separated its mobile money unit from its core telecoms business in compliance with regulations set by the Central Bank of Kenya.
Glo eyes share in Nigeria's mobile money pie
  • Matshepo Sehloho
Nigerian telco Globacom (Glo) has announced the official launch of its MoneyMaster Payment Service Bank joining its counterparts MTN MoMo and Airtel SmartCash.
40 Kenyan digital lenders audited for data breaches
  • Matshepo Sehloho
The audit comes at a time when the Kenyan government, through the Central Bank of Kenya, is on a mission to clean up the digital lending industry to get rid of illegal operators.
SA bank Capitec launches MVNO with data that never expires
  • Paula Gilbert
South African bank, Capitec, has launched its own mobile virtual network operator service, called Capitec Connect, promising mobile data prices that are considerably less than its competitors and data that doesn't expire.
Comment: I Can Testify - UberDOST8022 - 9/16/2022
SA telcos use fintech to tap into lending market
  • Paula Gilbert
Growing fintech trends have seen several South African telecoms operators launching lending solutions that range from nano loans to large cash advanced for small business owners.
SA's data-free MoyaApp hits 10M downloads
  • Paula Gilbert
South Africa's data-free super app, MoyaApp, has been downloaded over 10 million times on the Google Play Store, a milestone only six other local apps have reached.
MTN offered $35M for Afghanistan operation
  • Paula Gilbert
MTN group has received a binding offer for 100% of MTN Afghanistan as it continues with plans to completely exit the Middle East and focus on its pan-African footprint.
SA government launches app to tackle potholes
  • Matshepo Sehloho
South African transport minister Fikile Mbalula in partnership with the South African National Roads Agency (SANRAL) has launched an app to get rid of potholes.
Major data boom for MTN Ghana
  • Paula Gilbert
MTN has seen huge data growth from its customers in Ghana with data traffic up 52% in the first six months of the year and data revenue almost 50% higher than last year.
Safaricom wants Kenya to be a digital talent hub
  • Matshepo Sehloho
Kenyan operator Safaricom has launched a Digital Talent Program and is teaching kids to code through the M-Pesa app, as it aims to create a sustainable digital talent pipeline.
Omdia View: June 2022
  • Guest Perspectives
5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.
Vodacom reports 'resilient' quarterly growth
  • Paula Gilbert
Vodacom Group has reported solid quarterly revenue growth on the back of a resilient performance in South Africa and good data revenue growth in its international markets.
Pesapal gets green light to operate in Uganda
  • Matshepo Sehloho
Kenyan digital payments startup Pesapal, has been granted an operating license in Uganda to provide mobile cashless transactions in the East African country.
SA govt launches DigiTech "app store" for SMMEs
  • Matshepo Sehloho
South African Communications and Digital Technologies Minister, Khumbudzo Ntshavheni, has introduced a new tech platform aimed at selling South African digital apps.
SA agri-tech Nile gets $2.5M investment from Naspers
  • Matshepo Sehloho
Naspers, through its early-stage tech investment vehicle Naspers Foundry, has invested in agri-tech company, Nile, that connects farmers to buyers of fresh produce across Southern Africa.
Omdia View: April 2022
  • Guest Perspectives
This month's Omdia View highlights indicate a shift to digital transformation and operational consolidation to maximize return on investments.
Vodacom wants 75M fintech customers by 2025
  • Paula Gilbert
Vodacom's financial services business has become integral to the telco's business model and it plans to increase its fintech customers base to 75 million by 2025.
Safaricom promises Ethiopia launch this year
  • Paula Gilbert
Kenya's Safaricom says it is making good progress with plans to launch a network in Ethiopia, noting it will begin commercial operations by the end of 2022.
MTN sees fintech flourish in Nigeria
  • Paula Gilbert
MTN Nigeria's fintech subscribers grew 135.2% year-on-year, to 10.7 million, as it plans to launch a mobile money payment service bank.
Hot startup of the month: Ghana's Float
  • Tom Jackson
This month's hot startup is fintech company Float, which helps small businesses to manage and monitor their cash flow in real time, make supplier payments and access instant credit for critical business expenses.
Telkom SA prepares for mobile commerce boom
  • Paula Gilbert
Execs from Telkom South Africa discuss the growth in mobile commerce in Africa and how telcos are using digital channels to both improve customer experience and increase sales.
Africa accelerated mobile money growth in 2021
  • Paula Gilbert
Mobile money transaction values grew 39% in Africa in 2021 to US$701.4B – making up about 70% of global transaction values which hit over $1T for the first time.
MTN fintech users grow as spinoff looms
  • Paula Gilbert
MTN's fintech and data revenues saw double digit growth in 2021 as the pan-African telco moves forward with plans to spin off its fintech business.
Orange Africa growth story continues
  • Paula Gilbert
French operator Orange's operations in Africa and the Middle East continued to be its strongest growth region with revenue rising almost 11% in 2021.


Innovation hub

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Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

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Podcast: What's the Story? African tech startups score $3.3B in funding

Connecting Africa's Paula Gilbert joins this Light Reading podcast to explain why the fintech sector is bringing in the most funding, which countries are leading the way for most funding and what these trends mean for the continent as a whole.

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Africa Tech Perspectives

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Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

Story

Challenges and opportunities for women's tech careers

A new survey reveals that COVID-19, the cost-of-living crisis, skills shortages and a lack of mentorship have negatively affected women's career development over the past two years.

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Survey: Opportunities for Women in Tech

Take our new survey for women across Asia, Europe and Africa looking at the biggest challenges and opportunities for women-led enterprises and trends in tech careers for women.

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Omdia View: July 2022

By Omdia Analysts

Kenya and Zambia move towards 5G with new spectrum allocations while Tunisie Telecom plans to shut down its 3G network - that and more in this month's Omdia View.

Story

Omdia View: June 2022

By Omdia Analysts

5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.

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