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FinTech

Content tagged with FinTech

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Orange launches super-app 'Max it' for Africa
  • Paula Gilbert
Telecoms operator Orange has launched its own super-app, called Max it, in five African countries with plans to roll it out across its operations in Africa and the Middle East.
MWC Kigali: GSMA's Caroline Mbugua on mobile taxes in Africa
  • Connecting Africa Video
GSMA Director of Public Policy for sub-Saharan Africa, Caroline Mbugua, spoke to Connecting Africa at MWC Kigali 2023 about how high taxation on Africa's mobile sector is impacting device and service affordability for consumers.
ATF 2023: African startups win big
  • Matshepo Sehloho
The Africa Tech Festival held last week in Cape Town, South Africa, saw African startups winning accolades for their innovative skills as well as technological prowess.
MWC Kigali: Rosemary Kimaku on Ericsson's fintech business
  • Connecting Africa Video
Rosemary Kimaku, business development manager for mobile financial services (MFS) at Ericsson spoke to Connecting Africa at MWC Kigali 2023 about Ericsson's MFS business and how fintech is aiding financial and digital inclusion.
MWC Kigali: Safaricom CEO Peter Ndegwa on connectivity in Kenya
  • Connecting Africa Video
Safaricom CEO Peter Ndegwa joined Connecting Africa Editor Paula Gilbert at MWC Kigali 2023 for a video interview about the telecoms market in Kenya – the growth of 4G and 5G, M-Pesa and the telco's venture into Ethiopia.
Orange eyes more African 5G launches in 2024
  • Paula Gilbert
Orange Middle East and Africa CEO, Jérôme Hénique, told Connecting Africa that the group plans to launch 5G services in most of its African operations by the end of 2024, with Senegal and Côte d'Ivoire first in line.
Chipper Cash strengthens partnership with Visa
  • Connecting Africa News
Financial services company Chipper Cash has announced an expanded strategic partnership with Visa to collaborate on card issuance and join forces across regulatory and functional areas.
Vodacom SA, Old Mutual to offer personal loans
  • Paula Gilbert
Telecoms operator Vodacom is expanding its lending business to now offer personal loans in South Africa through a partnership with credit provider Old Mutual Finance.
Safaricom launches M-Pesa in Ethiopia
  • Paula Gilbert
Mobile financial services platform M-Pesa is now officially live in Ethiopia, three months after Safaricom Ethiopia was given a license to operate mobile money in the country.
The 100 most influential African leaders in 2023
  • Africa Tech Perspectives
A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.
Africa's fintech market to top US$65B by 2030
  • Paula Gilbert
South Africa, Nigeria, Egypt, and Kenya are leading the way for Africa to become the fastest growing fintech market, with fintech revenues projected to grow thirteenfold to US$65 billion in 2030, according to a report from Boston Consulting Group and QED Investors.
Digital banking group Tyme raises another $77.8M
  • Paula Gilbert
Tyme has raised another US$77.8 million in a pre-series C capital raise, securing two new international investors, while South African flagship TymeBank's customers have reached 7 million.
Vodacom reports revenue growth despite headwinds
  • Paula Gilbert
Vodacom Group reported strong financial growth for the year, despite facing headwinds from power supply issues in South Africa, startup costs in Ethiopia, supply chain challenges and higher interest and inflation rates.
Safaricom granted mobile money license in Ethiopia
  • Paula Gilbert
Kenya's Safaricom has been granted the license to operate its mobile money service M-Pesa in its new territory of Ethiopia, as the Ethiopian rollout costs put strain on group earnings.
Mobile money transactions hit $1.26T in 2022 – GSMA
  • Paula Gilbert
Total mobile money transaction values grew 22% in 2022 to US$1.26 trillion, according to the GSMA State of the Industry Report on Mobile Money 2023, and there are 1.6 billion registered mobile money accounts globally, 781 million of which are in Africa.
Mukuru opens fintech drive-thru in Zimbabwe
  • Matshepo Sehloho
South Africa-based fintech platform Mukuru has launched a drive-thru service for domestic and international money transfers in the Zimbabwean city of Harare.
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.


Innovation hub

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Over 5K African SMBs graduate from Google's Hustle Academy

Around 5,300 small and midsized businesses (SMBs) from Kenya, Nigeria and South Africa have graduated from the Google Hustle Academy.

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Orange launches super-app 'Max it' for Africa

Telecoms operator Orange has launched its own super-app, called Max it, in five African countries with plans to roll it out across its operations in Africa and the Middle East.

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Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

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The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

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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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Omdia View: September 2023

By Omdia Analysts

Highlights in September 2023 in the Middle East and Africa included more 5G spectrum licenses, vendor and operator strategies, and partnerships – that and more in this month's Omdia View.

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Omdia View: August 2023

By Omdia Analysts

Highlights in August 2023 in the Middle East and Africa included a commercial 5G launch from Ethio Telecom and the signing of a virtual wheeling agreement between Vodacom South Africa and Eskom – that and more in this month's Omdia View.

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