Standard & Poor’s Reaffirms the “Investment Grade” Status of Mauritius and Moody’s Upgrades the Sovereign Scorecard-Indicated Outcome to Baa1-Baa3

The Bank of Mauritius (Bank) welcomes the decision taken by Standard & Poor’s on the 21st of July 2023 to confirm the “Investment grade” status of Mauritius and the release of a Credit Opinion by Moody’s on 25th July 2023 reviewing upwards the Scorecard-indicated outcome of Mauritius to Baa1-Baa3. On one hand, by allocating a

Swift Finds Security and Transparency Matter Most for Low-Value Cross-Border Payments

Swift has published the results of a global survey of 7,000 consumers and small businesses on attitudes to low-value cross-border payments, finding that security and transparency are the most important factors when sending money internationally. Security was named as the key driver in the selection of a payments provider by both consumers and SMEs, closely

Infor Partners with People365 to Offer Expanded Payroll Solution Tailored for Customers in the Middle East & Africa

Infor offers People365 Payroll and Time Management solutions to customers along with Infor ERP and Human Capital Management solutions to enable automated and streamlined payroll functions while ensuring compliance with the region’s rules and regulations Infor®, the industry cloud company, recently announced it is expanding its offering in the Middle East and Africa with advanced

Central Banks Stay the Course as Inflation Fight Gets Tougher, BIS Says in Annual Economic Report

Central banks are determined to conquer inflation, even if the last mile to price stability may be the most challenging. There is a material risk of further financial stress as the financial system adjusts to the end of low-for-long interest rates. To safeguard stability and trust, monetary and fiscal policy must operate within a “region

Unlocking Africa’s E-Commerce Potential With Alternative Payment Methods – Ecentric Payment Systems

By Quintin van der Linde, Senior New Business Developer at Ecentric Payment Systems Africa is projected to have more than half a billion e-commerce users by 2025. In part, this can be attributed to the growing adoption of alternative payment methods in the wake of the pandemic. With 45% of the population in Sub-Saharan Africa

The Power of Payment Technology in Bolstering SA’s Rural and Informal Businesses – PAYM8

The size of a small, informal, or rural business shouldn’t be an obstacle to them attaining the same growth rate as larger, more formal enterprises. In fact, their smaller scale should be an advantage with fewer bureaucratic hurdles and greater flexibility. But in reality, rural businesses and informal traders are often limited by access to

Developing ATM Markets See Strong Growth as Post-COVID Recovery Continues – RBR

Reduction in ATM deployment worldwide disguises more positive outlook in majority of markets More than half of countries see an increase in ATM installations New research from RBR’s Global ATM Intelligence Service shows that the number of ATMs installed worldwide fell by 2% in 2022 to stand at 3.0 million. The comprehensive market report and

Absa Bank Kenya and Visa launch a new Card-to-Mobile Payment Solution for SMEs

Absa Bank Kenya has partnered with Visa, a global leader in digital payments, to introduce the Absa Mobi Tap solution, a market-first payment solution that allows small businesses to accept card-based payments from customers using an Android smartphone. This convenient and secure solution quickens the purchasing process by leveraging the smartphone as a point of

Ecobank Group and PAPSS Partner to Enhance Cross-Border Payment Across Africa

Mr. Jeremy Awori, Chief Executive Officer of Ecobank Group, and Mr. Mike Ogbalu III, CEO of PAPSS signed the Memorandum of Understanding on June 19, 2023, in Accra, Ghana. Ecobank Group, the leading pan-African banking Group, and The Pan African Payment and Settlement System (PAPSS) have signed a Memorandum of Understanding (MoU) to facilitate settlement

The Future of Trade Finance in Sub-Saharan Africa Amidst Hard Currency Challenges

With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union