Absa Bank CIB has secured a US$150mn facility from the UK’s British International Investment (BII) to fund sustainable trade in Africa. According to a joint press release, the financing will support transactions, including those benefiting women—and youth-led SMEs. The press release says the partnership is “making strides in advancing the efforts of the African Continental
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,
Originally published here. Stanchion, a global Payment Technology company and a pioneer of Payment Fabric, announced today that it has joined the PCI Security Standards Council (PCI SSC) as a new Associate Participating Organisation. Stanchion will work with the PCI SSC to help secure payment data worldwide through the ongoing development and adoption of 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
Paymentology. the leading global issuer-processor, today announces its connection to Mastercard leveraging Mastercard’s Cloud Edge, further advancing its comprehensive cloud-first strategy to deliver next-generation payment solutions across the globe. The new certification aligns seamlessly with Paymentology’s cloud-first approach. Mastercard’s Cloud Edge allows customers to connect to Mastercard from cloud providers of their choice and supports
Equity Bank (Kenya) Limited, a subsidiary of Equity Group Holdings Plc, is one of the leading banks in Kenya. Equity Group Holdings Plc. is a Pan-African financial services holding company listed on the Nairobi Securities Exchange and cross-listed on Uganda Securities Exchange and Rwanda Stock Exchange. The Group has other banking subsidiaries in DRC, Rwanda,
dLocal, a Uruguayan cross-border payment platform, has forged a partnership with iTransfer, a money remittance company. Their collaboration aims to address the complexities of cross-border payments in emerging markets, with a focus on mitigating currency risks and enhancing transfer efficiency. The partnership’s primary objectives include offering competitive rates, providing real-time currency updates, and increasing flexibility
Klasha, a prominent global cross-border payments company, has released a comprehensive whitepaper exploring the future of payments between Africa and China. The report, titled “Unlocking opportunities: The future of cross-border payments between Africa and China,” delves into key trends, emerging opportunities, and innovative solutions shaping this dynamic sector. China’s role as a major trading partner
South African banks, in the next month, will halt electronic fund transfer (EFT) services to Namibia, eSwatini, and Lesotho, restricting clients from transferring money to these Common Monetary Area (CMA) countries. From September 4th, EFT services will be unavailable to South African customers wishing to send money electronically to these key Southern Africa Development Community
By Nicole Dunn, Co-founder and COO of Precium CrowdStrike, a leader in cybersecurity solutions, experienced a major service disruption due to a technical glitch in their cloud-based infrastructure. This unexpected downtime lasted for approximately 14 hours, leaving numerous businesses grappling with the fallout. Payment processing services were among the hardest hit, as many financial institutions
