Emerging economies will lead the way as fintech gains momentum. Asia-Pacific is poised to outpace the US, becoming the world’s largest fintech market by 2030, while Africa will be the fastest growing region, according to a new report. Africa’s fintech market – led by South Africa, Nigeria, Egypt, and Kenya – is projected to grow
Bill Blackie is Chief Executive Officer of Business and Commercial Banking at Standard Bank Group Ltd. As a bank committed to driving Africa’s growth, Standard Bank recognises the relevance of China to the growth of our continent. As the continent’s biggest bank by assets, present in 20 markets across sub-Saharan Africa, our vision for Africa’s
Equity Group Holdings Plc enters into a binding term sheet with the Government of Rwanda, Rwanda Social Security Board, and other investors to acquire 91.93% of the issued share capital of Compagnie Générale de Banque (Cogebanque) PLC Ltd. Cogebanque is a public limited company licensed by the central bank of Rwanda (BNR) to provide banking
According to ACI’s 2023 Prime Time for Real-Time report, the top three fraud tactics in 2022 are Authorized Push Payment (APP) scams, card fraud, and identity theft, with APP scams being the number one fraud tactic. Financial crime and fraud are perennial problems for banks and financial institutions, with the global cost of fraud predicted
Rising youth unemployment in South Africa is a critical challenge that requires immediate action due to the far-reaching implications it has for the country’s economic growth, social stability and the wellbeing of future generations. The recently released Quarterly Labour Force Survey (QLFS) shows that South Africa’s unemployment rate for the first quarter of 2023 was
As a preferred enterprise payments partner for Shopify, Adyen will provide large-scale customers the agility to succeed in the fast-moving ecommerce industry Adyen, the global financial technology platform of choice for leading businesses, announces a new global partnership with Shopify, a provider of essential internet infrastructure for commerce, to strengthen ecommerce capabilities, simplify the customer
Between 2020 and 2021, the number of tech start-ups in Africa tripled to around 5,200 companies. Just under half of them were fintechs, making it the fastest-growing start-up industry in Africa. Their success is due to several trends such as the digital boom during the pandemic and increasing smartphone ownership and internet coverage, as well
The award was bestowed on FirstBank in recognition of the Bank’s role in promoting trade and investment endeavours across the continent. With its subsidiaries across the FirstBank Group, FirstBank has continued to play a leading role in boosting cross-border businesses, including trade and investment opportunities, essential to enhancing trade relations amongst countries. In 2021, the
Domestic networks continue to drive financial inclusion worldwide but face an ongoing challenge to stay up-to-date on card functionality and flexibility 2% of all card expenditure is through local payment networks RBR’s Global Cards Data and Forecasts to 2027 study found that the share of spending made on domestic network cards was unchanged at 2%
In today’s rapidly evolving digital landscape, retailers and organisations are continually having to embrace and implement innovative payment changes to streamline payment processes and improve the overall customer experience. An important consideration in this regard for retailers who own their own payment switch is moving it to the cloud, a complex but necessary upgrade and
