Fintech Archives - Page 4 of 19 - AfricaBusiness.com

18Oct

By Africa BusinessNo Comments

Fintech

Blockchain’s crypto-tainted history is holding us back from accessing secure data storage

By Simon Bain, CEO at OmniIndex Web3 and Data Security expert Simon Bain discusses blockchain’s bad rep, it’s potential outside of cryptocurrency and how it could revolutionise how we protect our vulnerable data In 1991, two scientists first introduced the concept of blockchain technology, seeking a way to time-stamp digital documents so that they couldn’t be tampered with or misdated. In short, a blockchain is a distributed ledger suited to the storing of files and data. It combines a number of different technologies including enhanced encryption and AI and as a result offers many security and privacy advantages over traditional cloud storage solutions. Many people will associate blockchain with cryptocurrency, because perhaps its most famous use in recent years is to store and manage ...

Africa Fintech Summit Announces Flutterwave as Lead Fintech Sponsor for the 10th Anniversary Summit in Lusaka, Zambia

12Oct

By Africa BusinessNo Comments

Events, Fintech, Zambia News

Africa Fintech Summit Announces Flutterwave as Lead Fintech Sponsor for the 10th Anniversary Summit in Lusaka, Zambia

The Africa Fintech Summit is proud to announce Flutterwave as the Lead Fintech Sponsor for its highly anticipated 10th-edition summit, set to take place in Lusaka, Zambia, on November 2-3, 2023. This partnership marks a significant milestone for both the Africa Fintech Summit and Flutterwave, showcasing their shared commitment to fostering innovation and growth within the African fintech ecosystem. Flutterwave's dedication to advancing the fintech industry in Africa has been unwavering, making the company a natural choice as the Lead Fintech Sponsor for this landmark event. Over the years, Flutterwave has consistently demonstrated its support for the summit and the broader African fintech community, contributing to the growth of digital financial services across the continent. The Africa...

Bridging the gap: Using a multi-faceted approach to combatting financial inequality

3Oct

By Africa BusinessNo Comments

Fintech, South Africa News

Bridging the gap: Using a multi-faceted approach to combatting financial inequality

By Andy Jury, CEO, Mukuru Formal financial and economic inclusion remain pivotal in addressing the rampant inequality in many African economies today. In 2022, as South Africa grappled with scheduled and unscheduled power outages, businesses were put under tremendous strain as revealed in the FinMark Trust 2022 report. With an estimated 50% of financial transactions in Africa occurring in an informal, over-the-counter, cash-to-cash, unregulated setting, there is significant potential to adopt digital solutions designed to bring about financial inclusion. But more than the technology, driving financial inclusion comes down to using a customer-centric approach to financial services. For any business, this is a logical thing to do. For fintechs, it shows an understanding of the importance a...

2Oct

By Africa BusinessNo Comments

Fintech, Ghana News, South Africa News, Tunisia News

Central bank digital currencies: What they mean for financial inclusion and private sector banks

Three pilots, one fully launched digital currency in Africa The world’s central banks understand that the future of money is digital. As payments shift online, the use of cash declines and the fortunes of crypto assets rise and fall, central bankers realise that their ability to command the use of money in their economies could weaken and that the financial exclusion of un- and underbanked citizens could be cemented. To try and forestall such developments, central banks in all the world’s major economies and most of its lesser ones are exploring the creation of digital currencies, and a handful of emerging economies have already launched their own. The widespread introduction of central bank digital currencies (CBDCs), especially in the world’s major economies, is not imminent. But the g...

South Africans can now Scan to Pay with Crypto

28Sep

By Africa BusinessNo Comments

Fintech, South Africa News

South Africans can now Scan to Pay with Crypto

Scan to Pay, Powered by Ukheshe, has partnered with Xion Global to offer crypto payments on the Scan to Pay app. Scan to Pay, powered by Ukheshe, is the largest QR ecosystem in South Africa and is used by more than 600,000 vendors, 14 banks and fintech companies and 94 payment service providers. Now, this new partnership will seamlessly introduce more crypto payment options to mainstream South Africa through the Scan to Pay app. Tracy-Lee Schoeman, Vice President of Loyalty and Rewards at Ukheshe, says the rise of cryptocurrencies has created a new wave of opportunities for performing financial transactions. “Cryptocurrency payments have the potential to transform the way people transact with lower fees, faster settlement times, and greater financial sovereignty – something Ukheshe is ex...

19Sep

By Africa BusinessNo Comments

Fintech

Digital wallets as an enabler for financial services in Africa

By Juan Seco, Chief Growth Officer and East Africa MD of Mukuru The recent GSMA 2023 State of the Industry Report on Mobile Money highlights how mobile money has become a mainstream financial tool in many African countries. Since 2022, more than 184 million people across the continent have embraced mobile money. The Sub-Saharan Africa (SSA) region now boasts 763 million registered accounts, nearly half of the 1.6 billion users globally with transaction values jumping 22% in the reported period to reach $832 billion. Of course, SSA figures are significantly influenced by Kenya, Nigeria, and Ethiopia, which have dominated the mobile money and digital wallet landscape. Hyper-digital markets like Kenya, which has wholly embraced M-PESA, or Nigeria, with a staggering 120 million users do not ...

19Sep

By Africa BusinessNo Comments

Fintech

The gender financial inclusion gap in Africa

By Kairi Brand, Head of Talent Management, Admirals While financial inclusion is growing in importance worldwide there is still a discrepancy between male and female financial inclusion – the so-called gender financial inclusion gap. At a global level, the World Economic Forum’s 2022 Global Gender Gap Report estimates it will take an average of 132 years to achieve gender equality globally! The African continent is no exception. It appears that there are several reasons for this. In many African societies, it is men who handle the financial affairs in a family, with the woman managing the household and caring for children. Women in emerging African economies also often have lower financial literacy levels on account of lower levels of education. Moreover, in some countries, legal and re...

14Sep

By Africa BusinessNo Comments

Fintech, Ghana News

9 Ventures Announced for the Africa Money and DeFi Summit Investment Showcase

The Africa Money and DeFi Summit has announced nine ventures selected to showcase their cutting-edge Web3, Blockchain, Fintech, and Decentralised Finance (DeFi) businesses to investors and industry leaders, live on stage, in Accra, Ghana on October 3rd and 4th. With a focus on forging connections and bridging the gap between African ventures, corporates and global investors, the West Africa edition drew applications from Ghana, Kenya, Nigeria, Uganda, South Africa, Zambia, Namibia, and Côte d'Ivoire. The ventures are: Hurupay (Ghana) is a stablecoin payment platform that enables African businesses to accept stablecoin payments from customers as a more stable and reliable payment method, eliminating concerns related to currency depreciation or high transaction costs. Save App (Kenya) is...

The power of tech sales: Bridging the digital transformation gap

7Sep

By Africa BusinessNo Comments

Business, Fintech, Tech

The power of tech sales: Bridging the digital transformation gap

In today’s fast-evolving world of technology, the role of the tech sales professional is critical in bridging the gap between companies looking to move with the times and effect a digital transformation of operations, and those with the expertise to assist them. Technology has an application for just about every function across every industry sector and knowing the extent as well as limitations of your products when dealing with clients who are looking potentially to invest millions in new systems, can set you apart, says Varsha Singh has recently been appointed National Sales Manager at leading South African fintech specialist, e4. What are the key skills that tech sales professionals need in order to excel? Working in tech sales requires a number of specific hard as well as soft skill...

7Sep

By Africa BusinessNo Comments

Fintech

Harnessing the power of data to drive financial and economic inclusion

By Sandy Rheeder, CIO at Mukuru The modern world has moved towards digitisation, yet a significant gap remains in terms of financial and economic inclusion, particularly in Africa. Despite this, there is a substantial opportunity to harness the power of data to bridge this gap and further the cause of economic and financial inclusion. The FinMark Trust 2022 report reveals that despite strides in digital financial services, many workers are still paid in cash, community merchants rarely accept digital payments, and access to banking or ATM facilities is often limited and costly. These factors are a stark reminder of the disconnect that remains between the formal economy and large sections of the population. This disconnect is amplified by several barriers to formalisation. For instance, ...