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

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

Tigo, Selcom and Mastercard Partner to Launch Online Digital Payment Solution in Tanzania

All Tigo Pesa customers in Tanzania, can now make online payments globally with their Mastercard Virtual Card. Tigo Tanzania, Selcom and Mastercard Inc. have announced a strategic partnership that will see the three industry leaders revolutionize the digital payment ecosystem by enabling convenient online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service

EIB and CRDB Bank Provide €540 Million to Support Businesses in Tanzania

New investment by companies across Tanzania will benefit from EUR 540 million (TSh 1.3 trillion) of new financing backed by the European Investment Bank, CRDB, NMB and KCB-Tanzania announced at the EU-Tanzania Business Forum in Dar es Salaam earlier today. The European Investment Bank’s first engagement in Tanzania for seven years includes expected targeted support

Ukheshe Takes a Fresh, Dynamic Approach to its African Growth

The adage ‘jack of all trades, master of none’ is apt for enterprises considering expansion into new African markets. Anthony Karingi, Vice President of Business Development – East Africa at leading fintech enablement partner Ukheshe, says the company is taking a collaborative approach to its regional expansion strategy – and is already reaping the benefits.

Mojaloop Foundation’s Walk the Loop Event in Tanzania Shows Path to Financial Inclusion – Desire Kachenje

In Swahili, “Mojaloop” means “one loop.” The Mojaloop Foundation strives to create one financial services loop for everyone. The Mojaloop Foundation’s open source software, Mojaloop, was designed to provide a reference model for inclusive instant payment interoperability to overcome barriers that have slowed the spread of digital financial services. Using Mojaloop, central banks, hub operators,

Equity Group Reports Strong 3rd Quarter Performance

Kshs.34.4 billion, PAT and Kshs.1.264 trillion assets 28% Profit After tax growth 31% growth in Non-funded income 27% growth in Earnings per Share 15% growth in customer deposits 21% growth in net loans Equity Group Holdings Plc today reported Kshs.34.4 billion shillings profit after tax for the nine months to 30th September 2022. The Group recorded

Mastercard and Ecobank Group Partner to Digitize Agricultural Value Chains in Africa and Empower Millions of Smallholder Farmers Through Digital and Financial Inclusion

Mastercard and Ecobank Group will deploy Mastercard Farm Pass, an award-winning, innovative solution that helps connect smallholder farmers to financial and agricultural ecosystems Mastercard Farm Pass will be rolled out leveraging the 33 countries where Ecobank has banking operations, helping millions of smallholder farmers gain digital access to markets, quality inputs, financial services, and real-time

Equity Bank Inks Deal with NALA to Enable Kenyans in UK and USA Send Money Back Home

The partnership will allow Kenyans living in the UK and US to send money directly from their banks, through the NALA app, instantly and at the most competitive rates to Equity Bank Kenya accounts and other mobile wallets. Equity Bank Kenya has signed a partnership with NALA Payments Limited, a remittance payment processing platform licensed

Pass to Greater Prosperity: Advancing Financial Security and Well-Being Across Africa Through Digital Inclusion

The COVID-19 pandemic threw the world into disarray, but in Africa, life continues: Farmers farm, merchants sell, people apply for capital to create jobs and improve livelihoods, and a heightened need for access to healthcare underpins it all. But on a continent with widespread inequality, where over half of the population is still excluded from

Cellulant has Partnered with NALA to Power Low-Cost Cross-Border Payments from the UK and USA into Africa

NALA provides an app for Africans living in the United Kingdom and the United States to send money to the continent seamlessly. NALA, a Tanzania based Fintech company, has teamed up with Cellulant (www.Cellulant.io), a Pan-African Payments Company, to power remittance payments from the United Kingdom and United States into Kenya, Uganda, Rwanda, Tanzania and