Banking specialists gathered on October 3rd in Nairobi to discuss the transformation of Africa’s payment landscape at an event organised by banking service provider Tietoevry. Participants from the Central Bank of Kenya, Co-op, NCBA, M-Pesa, KCB Bank, Kenswitch, Stanbic Bank, and others were in attendance. The overarching theme of the event was that Africa’s payment
The United Nations Development Programme (UNDP) in Somalia and Visa, a global leader in digital payments have signed a partnership agreement aimed at helping accelerate the implementation of the Sustainable Development Goals (SDGs) in Somalia through digital financial inclusion and digital transformation with relevant institutions in Somalia. The collaboration was announced at an event organized
Safaricom and Mastercard have signed a partnership to accelerate the adoption of payment acceptance and cross-border remittance services in Kenya. This collaboration is set to benefit over 636,000 merchants using M-PESA, Safaricom’s leading mobile money service. Kenya’s payment acceptance market continues to grow, with mobile wallet payments driven by M-PESA showing a 12.7% CAGR between
Expansion includes Burkina Faso, Cameroon, Kenya, Ivory Coast, Ghana, Senegal, South Africa, Nigeria; Leveraging success in Latin America to provide underbanked populations in Africa with efficient payment functions. PayRetailers, the leading payment processor for Latin America, has today announced further expansion into Africa. With coverage now across 12 countries, the company offers a unified simple
African Development Bank Group has approved a $6.6 million grant to assist the Federal Government of Somalia (FGS) in enhancing state capacity to develop its financial infrastructure, promoting inclusive and equitable growth. The Somalia Financial Sector Development Project will concentrate on strengthening the capabilities of financial institutions, including the Central Bank of Somalia, Somalia Development
Interswitch East Africa (Kenya) Limited has partnered with Elie Technologies to unveil a contactless payment solution for merchants and customers in Kenya. The solution, dubbed Tumatap, will enable Micro, Small, and Medium Enterprises (MSMEs) to accept contactless payments on smartphones, thus transforming the devices into point-of-sale (POS) systems without the need for additional hardware. The
The South African fintech start-up, Omnisient, has received a $7.5 million investment from Arise, advancing financial inclusion in Africa. Founded in December 2019, Omnisient is a privacy-preserving data collaboration and insights platform that allows the owners and users of consumer data to collaborate to extract commercial insights without compromising consumer privacy. The technology provides a
Ecobank Uganda Limited has formed a strategic partnership with Ria Money Transfer renowned global leader in cross-border remittance services. This partnership will significantly improve remittance options across Uganda, allowing customers to receive funds directly into their Ecobank accounts. Both account holders and non-account holders will also have the option to collect cash transfers promptly at
Nigerian fintech startup Grey has partnered leading cross-border payment platform dLocal to drive expansion into new emerging markets. Launched in 2021 by Idorenyin Obong and Femi Aghedo, Grey offers an international money transfer service that enables its users to send and receive international payments without restrictions quickly. Its products include foreign bank accounts, instant currency
MDP, a leading payments technology provider in the Middle East and Africa, is gearing up to make its mark at the 12th edition of the Africa Fintech Summit, taking place in Nairobi, Kenya, from September 4-6, 2024. The payments technology pioneer is coming on as Africa’s Payment Enabler Sponsor for the second year running. This
