OpenWay Report | Cross-Border Merchant Acquiring: New Technology, New Competitors

Posted on by Staff Reporter | 85561 Views | 8 min read

Download the report here. Competition in cross-border merchant acquiring is growing exponentially. Many incumbents find themselves burdened by rigid and uncoordinated legacy systems, unable to keep up with merchant expectations. They face challenges not only from startups, but also former partners, as ISVs transition into payment facilitators, ISOs evolve into processors, and PSPs transform into

Safaricom Inks Deal with a Consortium of Kenyan Banks to Fund Sustainability Agenda

Posted on by Staff Reporter | 23617 Views | 10 min read

Safaricom has announced the closure of a multi-billion Sustainability Linked Loan (SLL) to strengthen its Environmental, Social and Governance (ESG) agenda. The KES 15 billion deal, which is upscalable to KES 20 billion by accordion, is the largest ESG linked loan facility ever undertaken in East Africa, and the first of its kind for Safaricom

Makro Marketplace, Retail Capital Partner to Educate SMEs on Business Funding Options

Posted on by Staff Reporter | 15937 Views | 5 min read

Last week, Massmart, together with Retail Capital, a division of Tyme Bank, hosted a Business Funding Information session for its Marketplace seller base. The webinar provided these small business owners with key insights about the funding options available to them. The partnership initially began in 2021 and has, since inception, provided significant funding to enable

The Bank of Tanzania Grants License to DPO Pay

Posted on by Staff Reporter | 19219 Views | 9 min read

Leading African digital payments provider, DPO Pay, registered under One Payment Tanzania Limited, has received approval from the Bank of Tanzania to operate as a Payment Service Provider (PSP) in the country. The National Payment System Act, 2015 requires all PSPs to undergo a rigorous license application process to provide payment services in Tanzania. DPO

Stanbic Commits to Local Business Growth

Posted on by Staff Reporter | 47037 Views | 3 min read

Stanbic Bank says it is committed to focus on the growth of local businesses and is well positioned to offer fit for purpose banking services to local businesses in the country. Speaking during his country visit to Zambia, Standard Bank Chief Executive Officer for Business & Commercial Banking, Mr Bill Blackie said that Standard Bank,

Ecobank Wins Coveted Euromoney Award as Africa’s Best Bank for SMEs

Posted on by Staff Reporter | 56495 Views | 8 min read

Ecobank, the leading pan-African Banking Group, has been named Africa’s Best Bank for SMEs (small and medium-sized enterprises) by the prestigious Euromoney Awards for Excellence for the second year running, having also won the accolade in 2022. Jeremy Awori, Chief Executive Officer, Ecobank Group, said: “This award reflects Ecobank’s absolute commitment to supporting African SMEs

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

Posted on by Staff Reporter | 50169 Views | 13 min read

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

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

Posted on by Staff Reporter | 50339 Views | 28 min read

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

Equity Group Acquires 91.93% of Cogebanque in Rwanda

Posted on by Staff Reporter | 31638 Views | 17 min read

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

Walking the Regulatory Tightrope: Striking a Balance For Fintech Innovation and a Healthy Industry – Ukheshe

Posted on by Staff Reporter | 28097 Views | 12 min read

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