A new mobile payments application will allow businesses to securely transact in multiple currencies across Africa. Leading African digital payments company DPO Group launched DPO Pay Mobile, a new version of their payments app. With several new features, DPO listened to merchant feedback to redesign and redevelop the payment app. DPO Pay Mobile app, previously called DumaPay, now offers
White paper finds that fintech companies have tied up with banks, mobile network operators (MNOs), and other stakeholders to develop wide-ranging solutions for consumers, micro and small merchants Study further found that regulators across multiple African countries have adopted a collaborative approach to enable the introduction of new solutions by fintech companies Fintech startups in
Absa Africa Financial Markets Index shows improving market infrastructure in majority of countries in the region African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, OMFIF’s 2022 Absa Africa Financial Markets Index reveals. Even as challenging market conditions weighed on performance in the index, 19
Ajene holds an MBA in Finance and Strategy from Harvard Business School and a Bachelor’s degree in Economics from Dartmouth College Dalu Ajene has been appointed Chief Executive Officer of Rand Merchant Bank (RMB) Nigeria (www.RMB.co.za) from the 1st of November 2022 and aims to facilitate greater foreign capital flows, while working to deliver constructive solutions
With direct access to Nigeria’s Inter-bank Settlement System, this acquisition will enable Payhippo to launch an array of products and services for its customers Payhippo, Nigeria’s credit-led SME fintech, has acquired Maritime Microfinance Bank (MFB), a financial institution specializing in saving products, demand deposits, and investments as well as micro and SME loans. The acquisition
The six finalists were chosen following extremely strong competition from over 700 fintechs from 59 countries. Grand Finale to be held on 28 October at the Ecobank Group Pan African Centre in Lomé, Togo. Finalists will compete for the top price of $50,000 and admission to the ‘Ecobank Fintech Challenge Fellowship’ program Ecobank Group, the
Touch and Pay processes microtransactions across Africa, such as paying for bus journeys Ecobank Group (www.Ecobank.com) is proud to announce that Touch and Pay a Nigeria-based fintech has won the 2022 edition of the Ecobank Fintech Challenge. This announcement was made at the Grand Finale, today at Ecobank’s headquarters in Lomé, presided by H.E. Cina
Banks weathered the pandemic well, showing the resilience of the sector The European Investment Bank (EIB) (https://www.EIB.org) has completed its annual survey of banks in Africa in 2022, supported by Making Finance Work for Africa. In Finance in Africa in 2022: Navigating the financial landscape in turbulent times (https://bit.ly/3goYM2l), the seventh report in this series,
First Bank of Nigeria Limited has announced its variety of retail products specifically designed to enhance the operations and sustenance of various businesses in the country. The products: Petroleum Dealership Finance (PDF), Operational Vehicle Finance (OVF) and Commercial Mortgage will strengthen the capacity of businesses to meet their immediate and long-term needs which are required
By Karen Nadasen, CEO of PayU South Africa The Bill and Melinda Gates Foundation identified five key ways that African countries can include more than 400 million people into the digital economy, with one of the key themes being the importance of exploring a pathway to open banking. Open banking promotes fairness, competition and innovation
