IFC and BNI Madagascar today announced a partnership to expand access to local currency financing for smaller businesses in Madagascar, including women-led businesses, helping them grow and create jobs. Under the partnership, IFC will provide BNI Madagascar, one of the country’s largest financial service providers, with a $30 million equivalent loan in Malagasy Ariary for
Tranglo, a Cross-border payment hub, has expanded its services in Africa. Tranglo now facilitates payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. Remittances are crucial for African households and businesses. Tranglo offers efficient and cost-effective solutions to address high remittance fees. The World Bank estimates that remittances to Sub-Saharan Africa reached US$ 54
AccesBanque Madagascar, part of AccesHolding Group and one of the largest commercial banks in the country, has successfully migrated its ATM acquiring and card management businesses to Compass Plus Technologies’ processing centre. The move enables the bank to further expand its business offering and launch new products and services at pace. AccesBanque’s mission is to
Absa Africa Financial Markets Index shows improving market infrastructure in majority of countries in the region African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, OMFIF’s 2022 Absa Africa Financial Markets Index reveals. Even as challenging market conditions weighed on performance in the index, 19
Established Colombian fintech firm Minka has announced that it plans to repeat the success of its Latin America-based real-time payments system across Africa, accelerating and easing the movement of money across the continent and improving financial inclusion. Minka is a seamless payment network that enables organisations to move money in real-time. It simplifies the movement
AccèsBanque Madagascar in partnership with UnionPay International launched the first UnionPay. The UnionPay debit cards are accepted by automated teller machines and point of sale terminals in all UnionPay International networks. This launch event is attended by UnionPay representative, government officials, and ambassadors, giving a new image of banking industry in Madagascar. This announcement has
Leading digital money transfer service WorldRemit continues its rapid expansion in Africa, launching new international mobile money services through a partnership with pan-African fintech MFS Africa. This launch brings WorldRemit’s mobile money service to 5 new countries via Airtel in Malawi and Niger, Orange in Madagascar, Vodacom in Mozambique, and MTN in Guinea. WorldRemit’s mobile-first,
Airtel Africa has entered into a partnership with BGFIBank, a financial services institution present in 10 countries, to expand mobile money access to the bank’s customers. The partnership will see Airtel Money become accessible to BGFIBank customers in Gabon, Republic of Congo, Democratic Republic of Congo and Madagascar. Through the agreement, Airtel Money customers that
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