TDB Group, the Eastern and Southern African Trade and Development Bank Group has extended a USD 20 million revolving line of credit to CBZ Bank Limited to support loans for export and hard currency sectors. The facility will be used by CBZ Bank to provide loans to eligible customers operating in key export and hard currency
Ecobank Uganda Limited has formed a strategic partnership with Ria Money Transfer renowned global leader in cross-border remittance services. This partnership will significantly improve remittance options across Uganda, allowing customers to receive funds directly into their Ecobank accounts. Both account holders and non-account holders will also have the option to collect cash transfers promptly at
Nigerian fintech startup Grey has partnered leading cross-border payment platform dLocal to drive expansion into new emerging markets. Launched in 2021 by Idorenyin Obong and Femi Aghedo, Grey offers an international money transfer service that enables its users to send and receive international payments without restrictions quickly. Its products include foreign bank accounts, instant currency
MDP, a leading payments technology provider in the Middle East and Africa, is gearing up to make its mark at the 12th edition of the Africa Fintech Summit, taking place in Nairobi, Kenya, from September 4-6, 2024. The payments technology pioneer is coming on as Africa’s Payment Enabler Sponsor for the second year running. This
MANSA, a decentralized finance platform focused on cross-border payments, has partnered with blockchain payment platform Bitmama. In essence, the collaboration aims to improve access to cross-border payment services across Africa. According to the official press release, establishing cross-border payment services in Africa presents significant challenges, primarily due to the need for pre-funded accounts in multiple
The South African Reserve Bank (SARB), which operates, regulates and oversees the national payment system (NPS), has today published its inaugural Payments Study Report (study). The study, the first of its kind in South Africa, uses individuals’ payment data and provides extensive insight into how the public perceives and uses various payment methods and instruments
RTP is scheduled to be implemented into PayShap later this year. Participating banks need to understand how this functionality benefits both them and their customers and prepare for this new phase. RTP, What is it? Not to be confused with Real-Time Payments, Request-to-Pay (RTP) is a secure message sent from the payee (creditor) to the
Ecommerce in South Africa: Retail has experienced profound transformation over the past few years, with digital platforms and ecommerce reshaping consumer expectations. However, we are just in the earliest phases of digital transformation, and SME retailers will need to be agile to keep up with emerging customer demands and new competitors. Steven Heilbron, CEO of
“What if a simple financial service could unlock Africa’s economic potential and reshape the way millions of people manage their money?” In the rapidly evolving landscape of financial technology, “Buy Now, Pay Later” (BNPL) services have emerged as a significant trend, revolutionizing how consumers make purchases. These services offer a flexible alternative to traditional credit,
Africa’s Largest Tech Merger Fuels Groundbreaking Expansion From E-Commerce to B2B Digital Services Platform African B2B e-commerce pioneers Wasoko and MaxAB have completed the continent’s largest-ever tech merger following the signing of preliminary terms in Q4 2023. Conducted as an all-stock transaction, the deal establishes a truly Pan-African platform for communities to access essential digital
