Access to financial services in Africa had for decades been defined by disparities—between rural and urban areas, between men and women, between small businesses and larger enterprises. It meant that millions, especially the continent’s most vulnerable populations, were excluded from the formal economy, curbing entrepreneurship, restricting access to credit, and stifling upward financial mobility for far too long.
Category: Finance
Finance insights covering banking, fintech, investment, financial services and market developments shaping Africa’s economy.
Ecentric Wins Fintech Innovation of the Year at 2024 Africa Tech Festival Awards
Ecentric, a leading omnichannel payments provider, and its partners were awarded Fintech Innovation of the Year at the 2024 Africa Tech Festival for their pioneering […]
Absa Closes Significant Trade Finance Facility with BII
Absa has successfully secured a $150 million facility from British International Investment (BII) PLC as part of its mission to help close the trade finance gap in Africa.
Is cash dead? If your answer is yes you’re missing the point… and millions of customers
Is cash truly dead? With the rapid rise of fintech innovations and digital payment solutions, one might think so. Yet, despite the digital revolution sweeping across African societies, cash remains very much alive—and for millions, it is still the preferred way to transact. In the article, Cat Denoon-Stevens, Head of Product Incubation at Mukuru, discusses how cash remains an essential element of financial inclusion for millions. Fintechs must embrace this reality, offering flexible solutions that meet customers where they are—whether in the physical or digital realm.
MIGA and ATIDI collaborate to streamline African investments
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group Guarantees, and the African Trade & Investment Development Insurance (ATIDI) have signed a three-year partnership to accelerate foreign direct investment throughout Africa.
7 Myths You Should Know About Business Insurance
The content unpacks 7 myths to know about business insurance, as well as unpacking each myth with accurate info.
Visa Dollar Card is Available to Every African Resident
The financial service PSTNET issues Visa virtual cards without limits on top-ups, spending, or the number of cards.
Risk mitigation and protection: cyber-resilience and cyber-insurance
The piece explores the importance of cyber-resilience, cyber-insurance, and cyber-warranty in protecting organisations from cyber threats.
The role of insurance in bridging financial exclusion in Mozambique
Hollard, a leading Pan-African insurer, is bucking traditional marketing trends by using unconventional methods to drive financial literacy and encourage insurance uptake in cyclone-prone Mozambique through relatable, yet simple and effective techniques that are rapidly gaining traction.
Why Africa’s Approach to Financial Risk Management Needs to Change
Reggie Mlangeni, Head of Sales and Structuring at Absa Corporate and Investment Banking, discusses the unique challenges Africa faces in financial risk management, highlighting how traditional strategies often fall short in the continent’s volatile markets. The article calls for a re-evaluation of risk models, emphasizing the importance of tailored strategies, diversification, and the use of advanced technologies like AI and Machine Learning.