Fintech Archives - Page 6 of 19 - AfricaBusiness.com

AWS announces the 25 startups selected for its first ‘fintech in Africa’ accelerator

25May

By Africa BusinessNo Comments

Fintech, Kenya News, Startups

AWS announces the 25 startups selected for its first ‘fintech in Africa’ accelerator

Cohort participants from Kenya, Nigeria , South Africa, Egypt, Ghana, Uganda, and Cameroon 25 African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort. This cohort was selected from over 500 applications and is part of the EMEA Startup Loft Accelerator (SLA) program run by AWS. The pre-seed and seed stage fintech startups will start the 10-week program in June. Each startup will get technical review workshop sessions and up to $25K USD in AWS technical credits, world leading sector advice and one-to-one mentorship from major industry players including the Africa Fintech Summit (AFTS), Lendsqr and Vestbee to help them build their businesses. Africa’s fintech ecosystem is one of the fastest growing globally reaching $2B US...

Hello, Joburg? The 90s called, they want their parking payment machines back

25May

By Africa BusinessNo Comments

Fintech, South Africa News

Hello, Joburg? The 90s called, they want their parking payment machines back

How digital solutions are revolutionising parking in South Africa By Joshua Raphael, Founder and CEO at Parket Major South African cities have long harboured dreams of becoming smart cities. In the case of a city such as Johannesburg, this means building an urban environment that is connected, intelligent and safe, as well as creating a sustainable and liveable city amongst others. It also means smart mobility, though these aspirations are thwarted by hugely inefficient parking for most parts of the city. It's true; parking is once again becoming a nightmare as parking lots around the city edge closer to pre-pandemic levels. As a result, there are motorists driving up and down - wasting time and fuel - looking for parking while right next to them might be buildings with vacant bays that...

Bridging the financial inclusion gap in South Africa requires simplicity and affordability

26Apr

By Africa BusinessNo Comments

Fintech, South Africa News

Bridging the financial inclusion gap in South Africa requires simplicity and affordability

Financial inclusion remains a major challenge in South Africa, where millions of people remain outside the formal banking system and where higher-income groups have more access to a broader range of financial services. Despite recent steps being taken in the right direction, Andrew Springate, CEO of tech and financial gateway service provider PAYM8 says innovative solutions aimed at meaningfully addressing financial inclusion must also be simple, easy to use, and most importantly, affordable and interoperable. As the country moves towards digital payment systems, the key to financial inclusion lies in modernising the market and reducing barriers to entry. The adoption of digital payment systems is one way to increase financial inclusion in South Africa, and although there have been severa...

25Apr

By Africa BusinessNo Comments

Fintech

Building trust in digital payments in Africa

While cash and mobile money remain the dominant payment methods in Africa, they come with significant challenges. Cash is inefficient, insecure, and expensive, while mobile money services often lack the necessary regulatory support to operate independently. However, key emerging trends in the sector are helping to drive meaningful financial inclusion across the continent, notes Mark Dankworth, President of Business Development Africa at leading Banking as a Service and embedded finance enablement partner, Ukheshe. One of the most significant trends in the African payments sector is the increasing collaboration between banks and fintech companies. Banks, as regulated entities, play a critical role in processing funds, which then flow into digital wallets where fintechs are best positione...

Payday re-launches in Rwanda with SpaceX’s Starlink

25Apr

By Africa BusinessNo Comments

Fintech, Rwanda News

Payday re-launches in Rwanda with SpaceX’s Starlink

Africa’s leading neobank’s expansion into Rwanda aims at making digital banking accessible to all remote workers & professionals on the continent while ensuring access to fast and reliable internet connection Payday, the leading Pan-African neobank issuing global (USD, GBP & EUR) accounts to Africans, has announced its re-entry into Rwanda, following the official launch of SpaceX’s Starlink in the East African country. The re-entry into Rwanda marks a significant milestone in Payday’s Pan-African and global expansion plans, as well as its burgeoning working relationship as a payment processor for Starlink by SpaceX. Announced in February 2023, Rwandans can purchase Starlink routers from the satellite communications corporation, as the country looks to meet its overall targets fo...

10Apr

By Africa BusinessNo Comments

Fintech

ETH Bot – How to Make Money With a ETH Bot

A trading bot is an automated software that connects to a crypto exchange and trades the coins of your choice in accordance with your pre-set instructions, signals generated by technical analysis tools and market conditions. It is an essential tool to automate your portfolios and save time. Ethereum Blockchain network is a decentralized platform enabling smart contract execution and transactions of Ether (ETH), its designated cryptocurrency. It enables anyone to create new wallets free of charge, which makes it a breeding ground for software robots. ETH blockchain has become the go-to destination for software robots in recent years because it enables them to open new wallets for free and execute transactions at any time. In this way, ETH's blockchain is a perfect breeding ground for soft...

7th Edition Connected Banking Summit East Africa – Innovation & Excellence Awards 2023 Concludes with Resounding Success

28Mar

By Africa BusinessNo Comments

Events, Fintech

7th Edition Connected Banking Summit East Africa – Innovation & Excellence Awards 2023 Concludes with Resounding Success

The Summit brought together the best and brightest minds in the banking, financial services, fintechs and techfin sectors. The event, which took place on 7th March 2023, featured insightful speakers, award-winning companies, and top-notch sponsors. Attendees were treated to a range of informative sessions, covering topics such as digital transformation, cybersecurity, and risk management. The keynote speeches from industry experts left the audience inspired and informed. Here are the few industry trailblazers who shared the unparalleled content. Michael Michie - Solv Kenya, Timothy Were – Ministry of ICT & Digital Economy, Winnie Syowai Onyancha – KCB Bank Group, Neo Gong – Huawei, George Njuguna – Safaricom PLC, Sahil Arya – Gulf Arican Bank, Moses Ndirangu – Equity Bank Kenya Ltd, ...

27Mar

By Africa BusinessNo Comments

Fintech

Unlocking Africa’s credit potential

Adrian Pillay, VP of Middle East & Africa at Provenir Fintech in Africa is coming into its own. According to KPMG data, there was a record $1.6 billion in fintech investment across the continent in 2021, across 153 deals, and at two times the value of 2020, which hit US$800M. From East to West and North to South, countries are seeing sizable deals surpassing anything that came before, and while Nigeria, Kenya, and South Africa are leading the way, new markets, like Egypt, are also catching up. Africa’s financial penetration is relatively low compared to other emerging markets like Latin America. According to The Global Economy, LatAm markets like Chile, Venezuela, and Brazil see 80-90% of their population with bank accounts. This is in stark contrast with Africa, where in 2017, ...

23Mar

By Africa BusinessNo Comments

Fintech

Index Launch: Remittances Play a Powerful Role in Consumers’ Financial Planning

Inaugural Global Money Transfer Index surveys 30,600 consumers in 20 countries across the Middle East, Africa and Asia Pacific; Index voices consumers’ international money transfer preferences for today and tomorrow as they navigate global headwinds. As global populations navigate macroeconomic headwinds, consumers expect remittances to play an even stronger role in their current and future financial planning. According to Western Union’s inaugural Global Money Transfer Index (https://apo-opa.info/402bPIO) launched today, 64% of global money transfer consumers send and/or receive money once a month or more. Over the next 12 months, 75% expect these remittances to increase. The Global Money Transfer Index asks consumers how, when and why they use international money transfer capabilities ...

Amazon Web Services (AWS) opens applications for its inaugural FinTech Africa Accelerator

22Mar

By Africa BusinessNo Comments

Fintech

Amazon Web Services (AWS) opens applications for its inaugural FinTech Africa Accelerator

Amazon Web Services (AWS), the cloud computing division for the world’s largest e-commerce retailer, Amazon, continues to strengthen its footprint in Africa with a call-for-applications from early-stage startups to join their inaugural edition of the AWS FinTech Africa Accelerator. This program is hosted by AWS’ globally-recognized Startup Loft Accelerator, but unlike other cohorts, this edition will focus on fintech and fintech-adjacent startups operating in Africa. In 2022, fintech startups in Africa raised over $2B USD in venture funding, sustaining Africa’s fintech industry as the top recipient of venture funding on the continent for the past several years (according to Briter Bridges). The US-headquartered cloud service provider (CSP) has had a long-history of operations in Africa...