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

Pan African Payment and Settlement System (PAPSS) and African Securities Exchange Association (ASEA) Forge Strategic Partnership to Revolutionize Cross-Border Payment of Stock Exchanges in Africa

African Export and Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat developed PAPSS, which enables instant cross-border payment in local currency The Pan African Payment and Settlement System (PAPSS) and the African Securities Exchange Association (ASEA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and cooperation in promoting cross-border

Mukuru Drive-Thru Takes Innovation to the Next Level in Zimbabwe

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 People’s Own Savings Bank (POSB) Launches Co-Badged Debit and Prepaid Mastercard Cards

The Mastercard debit card enables customers to make dual currency transactions on the same card. The prepaid Mastercard card will allow non-account holders to transact in foreign currency.  The Mastercard debit cards will enable safer, simpler, smarter, and accessible transactions inclusive of e-Commerce transactions. POSB in partnership with Mastercard has unveiled new prepaid and debit

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.

Digital Payments: A Crucial Step in the Financial Inclusion Endgame

By: Andy Jury, Group CEO of Mukuru In years gone by, pages such as these have been awash with articles and opinions about fintechs and their potential to drive financial inclusion and improve the lives of millions of unbanked and underserved communities. While these opinions have been crucial in raising awareness, the discussion should now

African Markets Build Resilience in a Challenging Environment

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

FMBcapital Holdings Group records Robust Growth and Performance

FMBcapital Holdings Plc (FMBCH) announced further positive performance in the first half of the 2022 financial year, with a very strong growth in profit after tax (93% growth to US$25.2m on 2021 first half). The interim period of 2022 followed through strongly on concerted efforts from 2021, and saw the Group’s banking operations in Botswana,

Paysend Introduces 50 New Receiving Countries to its Global Payments Network

Paysend, the UK-based fintech with over 7 million customers, today announces that 50 new receiving countries have been introduced to its global payments network since the start of 2022. These additional payments corridors mean that Paysend customers can now send money to over 170 countries worldwide. Notable additional countries supported by Paysend include: Antigua and

Colombia Real-Time Payment Platform Replicates Latin America Success in Africa

Established Colombian fintech firm Minka has announced that it plans to repeat the success of its Latin America-based real-time payments system across Africa, accelerating and easing the movement of money across the continent and improving financial inclusion. Minka is a seamless payment network that enables organisations to move money in real-time. It simplifies the movement