• Mastercard launches white paper exploring attitudes and behaviors of consumers and Small, Medium, and Micro Enterprises (SMMEs) in South Africa’s informal sector • Convenience and safety are identified as key alternatives to cash as a preferred form of payment in the informal economy • Study examines how consumers and micro-enterprises can be incentivized for
While cash and mobile money remain the dominant payment methods in Africa, they come with significant challenges. Cash is inefficient, insecure, and expensive, while mobile money services often lack the necessary regulatory support to operate independently. However, key emerging trends in the sector are helping to drive meaningful financial inclusion across the continent, notes Mark
The Bank of Namibia (BoN), in its ongoing pursuit of digital transformation for the central bank and modernisation of the financial sector to achieve higher levels of financial inclusion, has concluded a visit to the Central Bank of Kenya (CBK). The visit aimed to enhance the Bank’s capacity to effectively manage financial risks emanating from
Public and private sector leaders from across Africa join Vice President Harris in Zambia to identify opportunities to close the digital divide. Mastercard calls for public and private sector alignment on Africa’s shared digital ecosystem. Mastercard’s Community Pass platform aims to enable 15 million people on the continent – mostly smallholder farmers – to participate
The payments market in Africa is experiencing rapid growth, mainly due to advancements in peer-to-peer (P2P) and consumer-to-business (C2B) payment solutions Cellulant (https://www.Cellulant.io), a leading payments technology company, aims to change how businesses in Africa make and receive payments by introducing online and offline payment solutions. The payments market in Africa is experiencing rapid growth,
The Chisipite Drive-Thru is one of the fintech’s new locations in Zimbabwe, along with nine other sites for domestic and international money transfers launched across the region in February Mukuru (https://www.Mukuru.com) recently launched a first-of-its-kind drive-thru service in Chisipite, Harare, to enhance its promise of making financial services more accessible to people in Zimbabwe. The
The Development Bank of Southern Africa (DBSA) is pleased to announce that Ms Boitumelo Mosako assumed office as its new Chief Executive Officer and a Director of the Bank’s Board of Directors effective 1 April 2023. The appointment and handover process which kicked off in February 2023 has gone seamless, led by the Board with
The strategic purchase of Phos is a next step in Ingenico’s evolution towards software-driven services, following recent acquisition of Ingenico by the investment funds managed by affiliates of Apollo Global Management (the “Apollo Funds”) in September 2022. Ingenico, the global leader in payments acceptance solutions, announces its acquisition of 100% of Phos, a leading provider
First Bank of Nigeria Limited, Nigeria’s premier financial services institution, has announced a phased corporate name change of its subsidiaries in the United Kingdom and Sub-Saharan Africa. FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia and FBNBank DRC are the first set of subsidiaries effecting the name alignment. They are now known and addressed as FirstBank
Standard Bank client insight enables practical private sector job creation Unemployment compromises GDP growth, threatens economic stability and tears at the fabric of our society. Standard Bank, as well as independent research, show that South African employment is still 5% lower than pre-Covid-19. A 35% unemployment rate means that only 200 000 out of the
