There are varying degrees of denial about the truth that cash won’t be king forever. Of course, many regions around the world are well on the journey to full digitisation, while others, like Africa, are at a different point on this journey, but it’s a journey they’re taking, nonetheless. The concept of digital inclusion is
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings, has been awarded the Best Cash Management Bank and the Best Trade Finance and Supply Finance Provider in Nigeria at the 2022 edition of the Cosmopolitan The Daily Business Awards, which held recently. Organised by Cosmopolitan The Daily Business publication, the business award recognises financial
NEOPAY will comprise of Mashreq’s leading merchant acquiring business, which processes over USD 22Billion of annualized volume across retail, government, hospitality, and eCommerce. NEOPAY will also provide Issuer Processing and Acquiring Processing services to financial institutions and fintechs. NEOPAY already positioned amongst the top 3 merchant acquirers in the UAE and a leader in next
Morocco-based Al Mada Holding Group has launched a $109.8 million pan-African venture capital fund to invest in fast-growing startups. The new VC fund aims to develop promising technology-oriented startups in fintech, healthtech, logistics, edtech, and renewable energy. In addition to providing direct funding, the Al Mada venture fund will equally offer startups access to the
The South African Reserve Bank (SARB) has given regulatory approval for a new partnership designed to serve the SME sector exclusively. Powered by Access Bank South Africa Ltd, the collaboration with Lulalend will see the creation of Lula, a platform that will address common challenges SMEs face when managing finances. A 2020 McKinsey study showed
As long as cash still dominates the payments landscape in Africa, it remains a stumbling block to much-needed technological progress and innovation, particularly for SMEs. According to Andrew Springate, CEO of tech and financial gateway service provider PAYM8, things are starting to shift as Africa’s digital payments race begins and true financial participation and inclusion
Standard Bank’s BCC division driving Africa’s growth one small business at a time Standard Bank’s recently established Business & Commercial Clients (BCC) division is deliberately focused on building a capability ecosystem to support small traders, agribusinesses, emerging manufacturers and entrepreneurs to grow into formal enterprises – or even become national corporates or cross-border multinationals. In
TELKOM Financial Services has launched the Telkom Pay Mobile Point-of-Sale (mPOS) app, a fintech tool that allows business owners to make and receive payments through their mobile phones. The app is aimed at simplifying business for small, micro, and medium enterprises (SMEs). Telkom said it was committed to providing SMMEs with solutions that would enable
OpenWay, a top-ranked digital banking and payment software provider, has announced two new implementation partners in East Africa — TechNote Limited, along with iCon Transactions and Tracing Technologies Limited (iT&TT). These new additions to OpenWay’s partner network will allow its clients to reduce time-to-market for innovative digital payments solutions in East Africa and beyond. TechNote
Do you have a solution to improve cash management and logistics that will help ATM deployers reduce costs? If so, the ATM Industry Association (ATMIA) wants to hear about it. ATMIA today announced the opening of its ‘Improving the Costs of Cash White Paper’ contest. ATMIA members worldwide are encouraged to submit a two-page document
