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
KCB Bank Kenya and UnionPay International (UPI) have partnered to enhance e-commerce payment capabilities in Kenya, enabling UnionPay cardholders to transact seamlessly on digital platforms. This collaboration marks a significant advancement in digital payment capabilities, aimed at enriching the online shopping experience for consumers and merchants across Kenya. “We are delighted to join hands with
Mastercard has opened its first office in Accra, Ghana, to support the country’s growing digital economy. This expansion strengthens its footprint across Africa, with existing offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, and Mauritius. This move is part of Mastercard’s strategy to reinforce relationships with local stakeholders and foster inclusive growth in West Africa. “Opening
Sevi, a fintech company regulated by the Central Bank of Kenya, is revolutionizing stock financing for wholesalers and retailers through its “stock now, pay later” platform. Sevi addresses the challenge of insufficient working capital by providing users with access to credit while ensuring suppliers are paid upfront. With Sevi, suppliers like Coca-Cola, Anytime and Philmed
Financial inclusion doesn’t begin and end with a bank account. It will be solved by a multitude of payment technologies – including cash. Financial inclusion is an elusive goal now closer to realisation than ever. It’s being tackled through various innovations from traditional banking and non-banking sources such as fintechs. According to a World Bank
Premier Bank, a leading Islamic financial institution in Kenya, has announced a collaboration with Mastercard to introduce an innovative suite of Shari’ah-compliant debit, credit, and prepaid cards. This collaboration marks a significant milestone in delivering secure financial solutions, tailored to meet the diverse needs of Kenya’s population and the wider market. This collaboration represents Premier
Tranglo, a Cross-border payment hub, has expanded its services in Africa. Tranglo now facilitates payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. Remittances are crucial for African households and businesses. Tranglo offers efficient and cost-effective solutions to address high remittance fees. The World Bank estimates that remittances to Sub-Saharan Africa reached US$ 54
IFC, a member of the World Bank Group, has partnered with Standard Bank and Rand Merchant Bank (RMB) to help expand local currency financing for private businesses across Africa. IFC will collaborate with Standard Bank and RMB on cross-currency swaps to manage currency exposure related to its local currency lending. This hedging allows IFC to
IFC today announced a risk sharing facility for Equity Bank of Kenya that is the first globally to be dedicated to financial inclusion for refugees and their host communities. The $20 million facility will boost financial inclusion for individuals and small businesses in Kenya’s most underserved regions, including the Turkana and Garissa refugee hosting areas,
NCBA has expanded in Ukunda, as part of its strategy of taking the businesses into new sectors of the economy, as well as providing its services to local clients. Following this announcement, the NCBA Customer centric approach will ensure clients enjoy full banking services, including asset financing, personal and business loans, digital banking, as well
