Banks Must Break Barriers for Sustainable Financial Inclusion: Africa’s Revolution – Diebold Nixdorf

Posted on by kara | 92 Views | 15 min read
Banks

Malek Ferdi, Senior Director Africa Diebold Nixdorf Banks in Africa While the African banking sector has regularly demonstrated its resilience, it still needs to address the issues of inclusivity and sustainability in its various territories to cement its transformation in favour of citizens, entrepreneurs and communities. In search of new challenges, African banks must be

South Africa to Host FiCS 2025: A Game-Changer for Africa

Posted on by kara | 132 Views | 10 min read
South Africa

South Africa is set to host the Finance in Common Summit (FiCS) in February 2025, marking a transformative milestone in the continent’s development finance narrative. This historic occasion coincides with South Africa’s assumption of the Presidency of the Group of 20 (G20), amid a period of significant political change and growing economic confidence. FiCS 2025,

Mukuru Launches Mobile Wallet in Zimbabwe to Bolster Financial Inclusion

Posted on by kara | 334 Views | 13 min read
Mukuru

Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet. The secure digital store of value follows Mukuru’s award of a Deposit-Taking Microfinance Institution (DTMFI) licence in Zimbabwe by the Reserve Bank of Zimbabwe. Building on Mukuru’s trusted capabilities, which support more than three-million Zimbabwean customers, the wallet has several benefits, including its standout

Financial Inclusion Is Reshaping What the Future of Payments in Africa Looks Like – Standard Bank Group

Posted on by kara | 1066 Views | 22 min read
Financial Inclusion

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

RMS to RM: What South Africa’s Businesses Need to Know About Upcoming Debit Order Changes

Posted on by kara | 1609 Views | 32 min read
RMS

Steven Maier, Chief Brand Officer at Amplifin As the South African payments landscape prepares for a significant shift, businesses reliant on DebiCheck debit orders, and specifically when authentication was not successfully obtained from Debtors, must brace themselves for the mandatory transition from the Registered Mandate Service (RMS) to the new Registered Mandate (RM) payment stream

Tranglo Expands Remittance Services to Seven African Countries

Posted on by kara | 3292 Views | 5 min read
Tranglo

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

EFT Corporation Connect: Zambia Event Forges Important Regional Partnerships

Posted on by kara | 2092 Views | 14 min read
EFT Corporation

EFT Corporation, an African-focused fintech and payment solutions provider, recently hosted its EFT Corporation Connect: Zambia event in Lusaka. Featuring presentations led by EFTCorp’s team alongside an address from a representative of the Zambian Ministry of Technology and Science, the event brought together leaders and innovators from Zambia’s banks, microfinance, and the fintech sector. The

IFC Teams Up With Standard Bank and Rand Merchant Bank to Boost Local Currency Financing in Africa

Posted on by kara | 3600 Views | 8 min read
IFC

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

President Ruto: African Payment System will Unlock the Continent’s Trade Potential – COMESA

Posted on by kara | 2714 Views | 22 min read
President Ruto

President William Ruto has asked Member States of the Common Market for Eastern and Southern Africa (COMESA) to ratify the Pan-African Payments and Settlement System to enable and ease trade among the countries. The President said the African payment system will save Africa more than $5 billion annually in payment and foreign exchange transaction costs.

South African Bank Blocks Crypto Payments, Faces Industry Backlash

Posted on by kara | 3984 Views | 8 min read
South African Bank

South African bank Capitec has blocked electronic funds transfers and real-time payments to cryptocurrency exchanges as a security measure. While Capitec acknowledges growing interest in cryptocurrencies, the bank maintains that the measure is necessary to protect clients from fraud. Some industry players view this move as an attempt to restrict crypto trading. Crypto Payments Blocked