GTBank (Guaranty Trust Bank Ltd) has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions. This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving customer payments.
Kazang, the prepaid value-added services (VAS) and card acquiring business within Nasdaq and JSE-listed fintech Lesaka Technologies, has partnered with TymeBank, the first digital bank to reach profitability in Africa, to make cash withdrawals more accessible to consumers in townships, rural areas and other underserved areas. TymeBank customers can use their cards to withdraw cash
Raenest, the global multi-currency accounts platform for individuals and businesses across Africa, today announced the completion of its $11M Series A funding. The round was led by QED Investors, with participation from Norrsken22. Follow-on investment came from Ventures Platform, P1 Ventures, and Seedstars. This equity-based capital injection brings Raenest’s total venture funding to $14.3M. With
SA Banks are facing a significant shift in technology and in how different groups of customers engage with it. While banks have invested heavily in protecting their customers against fraud, this focus has unintentionally slowed down spending in other areas. As a result, the cracks in the system are starting to become more visible. Currently,
SMEs (small and medium enterprises) in Kenya are actively adopting digital payments, leveraging technological advancements, and forming strategic collaborations to enhance growth and resilience, as highlighted in the third edition of the Mastercard SME Confidence Index. With 91% of SMEs in Kenya adopting digital payments, businesses are enhancing efficiency, improving customer experiences, and strengthening financial
Norman Frankel, Chief Growth Officer, Stanchion Payments Solutions. Originally published here. Ethiopia’s capital, Addis Ababa, is home to over 5.7 million people and buzzes with vibrant energy. The government is also driving its digitalisation programme forward as part of its 2025 and 2030 digitalisation plans. With a population of at least 132 million, Ethiopia is
Postbank and SASSA appeal to social grant beneficiaries to replace their SASSA Gold Cards with the new Postbank Black Cards by 28 February 2025. Beneficiaries who fail to get Postbank Black Cards before the deadline are advised that they will not be able to access their SASSA grant payments with the SASSA Gold Cards. After
Bank of South Sudan (BOSS) is proud to announce a groundbreaking initiative to launch the country’s first National Instant Payment System (NIPS) in collaboration with the AfricaNenda Foundation. This transformative project marks a pivotal milestone in modernising South Sudan’s financial and payment infrastructure, advancing the bank’s commitment to providing enhanced financial services for all citizens.
Lesaka Technologies highlights that merchants in South Africa’s cash-driven township and rural economy remain underserved by mainstream financial services. This gap creates a significant opportunity for fintech companies to develop solutions addressing these merchants’ specific pain points, enabling them to serve their customers more efficiently and effectively. Lincoln Mali, CEO of Lesaka Technologies, emphasised this
Flutterwave, Africa’s leading fintech company, has unveiled its 2024 end-of-year report detailing significant achievements in global expansion, technological innovation, and customer success. The report underscores the company’s growing influence in the global fintech landscape, cementing its position as a key player in the payments technology sector. Founded in 2016, Flutterwave has become a powerhouse in African enterprise
