Wednesday, November 13African Digital Business Magazine
Counting the real cost of cash in South Africa
South Africa News

Counting the real cost of cash in South Africa

Cash is still king in South Africa. But according to Anton van der Merwe, COO of leading pan-African fintech enablement partner, Ukheshe Technologies,  its long reign is increasingly under threat as businesses and consumers begin counting the real, hidden costs behind cash transactions. Whether its via cash, credit card, QR, crypto, or a smartphone wallet, financial transactions all take place within a complex system. Some parts of that system make use of coins, notes, or physical cards, while other parts of the system digitally move money between buyers, sellers, banks and other parties. Every payment method comes with its own set of costs. As digital payments become more convenient, cheaper, more prevalent, and ultimately, the preferred way to trade, any perceived benefits of cash will ...
M&A report discovered many exciting opportunities in Africa’s chemical industry
Energy

M&A report discovered many exciting opportunities in Africa’s chemical industry

Africa’s greenfield opportunity Global trends unearthed and analysed indicate that the chemicals sector is increasingly being driven by Environmental, Social, and Governance (ESG) considerations. It also indicates that decarbonisation is often a key rationale behind the investments (and divestments) in the sector, except for Africa where investments understandably lagged again this year. These are the findings of the latest Chemicals Executive M&A Report for 2022 released by global management consulting firm Kearney, now in its ninth edition. “The reasoning for this is because there are simply not that many attractive target companies with suitable ESG credentials available to acquire for chemicals organizations looking to invest and consolidate on the continent,” explains Prashaen ...
#NoFalseNewsZone: How to determine fake information
Ghana News, Interview, Main

#NoFalseNewsZone: How to determine fake information

Exclusive Interview With Oluwasola Obagbemi, Corporate Communications Manager, Anglophone West Africa, Meta Oluwasola Obagbemi talked about why the #NoFalseNewsZone campaign is needed, what reliable information is, how to determine lies, and how to solve problems with the spread of fake news. 1. Why do you need to conduct a #NoFalseNewsZone campaign now? The #NoFalseNewsZone campaign is an educational media and consumer campaign aimed at opening a dialogue surrounding false news, helping people learn how to identify it, and the actions they can take to help minimise its spread. Having realised that false information spreads fast and can also lead to real life harm, Meta decided to create the #NoFalseNewsZone online campaign to educate people on how to critically think about the messages...
Healthtech startup Zuri Health receives funding to expand across Africa
Startups

Healthtech startup Zuri Health receives funding to expand across Africa

Zuri Health, the digital healthcare company which provides affordable healthcare via mobile, has completed a funding round attracting investment from DOB Equity, Launch Africa and Founders Factory Africa to expand across Africa. Zuri Health connects mass-market patients with affordable, convenient, and quality healthcare services via SMS, WhatsApp and a dedicated app. The company initially launched in Kenya in January 2021 but is now present in Ghana, Nigeria, Senegal, South Africa, Uganda, Tanzania, and Zambia. Zuri Health has so far partnered with 16+ major mobile network operators in seven countries with over 400,000 SMS subscribers, over 300 doctors, 27 lab and diagnostic centres and 15 pharmacies across its markets. Zuri Health was launched by Ikechukwu Arthur Anoke and Daisy Isiah...
Forex, Kenya News

How to choose a forex broker in Kenya

If you are a Forex trader in Kenya, you will probably have come across plenty of Forex brokers vying for your business. Forex brokers in Kenya are increasing in number by the day, but knowing which one to sign up with can be a daunting prospect for new traders.  In this article, we provide the definitive guide to selecting a Forex broker in Kenya, which will provide you with a secure and competitive trading environment complemented by a wealth of trading resources and support. 1. Check the broker’s regulatory status Forex brokers in Kenya fall under the regulatory oversight of the CMA. A broker's membership in the CMA or adherence to financial regulations is not assured simply because the broker has a snazzy website. In the "About Us" section of a broker's website, the CMA member num...
Ethiopia News, Ghana News, Kenya News, Main, Mauritius News, Mozambique News, Namibia News, Nigeria News, South Africa News

The rapid rate of competition law developments across Africa

By Lerisha Naidu, Partner, Angelo Tzarevski, Associate Director, Sphesihle Nxumalo, Associate and Zareenah Rasool, Associate, Competition & Antitrust Practice, Baker McKenzie Johannesburg Baker McKenzie's latest Africa Competition Report 2022 provides a detailed analysis and overview of recent developments in competition law enforcement and competition policy in 32 African jurisdictions and regional bodies. The Report outlines how, over the past two years, African competition regulators have actively engaged in efforts to address pandemic-related challenges, but there has also been a general upward trend in competition policy enforcement across the continent. This trend is highlighted by a number of significant recent developments in competition law regulation across the continent. Co...
African News

The road to recovery for Africa: The potential of DFIs to halt the spiraling unemployment rate

DFIs directly or indirectly support over 6 million African jobs in the private sector New report published today by the ONE Campaign and the African Centre for Economic Transformation (ACET) reveals that the 10 largest global bilateral development finance institutions (DFIs) could substantially reduce Africa’s spiraling unemployment rate by 2025. The report titled Shifting and Accelerating DFI investments for more decent jobs in Africa estimates that  nearly 6 million African jobs have been supported by DFIs to date, which if sustained may make a significant difference in the continent's unemployment crisis. As Africa struggles to recover from the economic aftershocks of the covid-19 pandemic, which wiped out 20 million formal and informal jobs, and now with the huge impact of the on-goi...
Fintech

More Banking Executives View Fintechs as Partners in Economist Impact Report on Digital Competition in Global Finance Commissioned by WSO2

In a global survey of 300 C-suite banking industry executives, 54% say their financial institutions have faced greater competition over the past three years from digital alternatives while 47% of UK respondents found this to be the case. However, these executives also indicate that they are better positioned to compete. Notably, 85% of respondents reported that they have, to some extent or more, the necessary technological tools to create new digital products and services. This rises to 90% for UK respondents. The survey was conducted for a new report[1] from Economist Impact[1], “Threat assessment 2022: digital competition in global finance,” which was commissioned by WSO2, a leader in digital transformation technology. In addition to reviewing the competitive landscape, the report exami...
Tech

Identity confirmation in under 30 seconds: How biometrics became lightning fast and accurate

How do you do trust someone you can’t meet in person? It’s a question organisations have been grappling with in the age of the internet, KYC requirements, and the rapidly escalating costs and consequences of identity fraud. “Enter biometrics with liveness detection, a state-of-the-art solution that onboards customers securely, easily, and quickly,” says Lance Fanaroff, Co-Founder and Chief Strategy Officer, iiDENTIFii – leader in remote biometric digital facial authentication and automated onboarding technology. Traditional facial recognition methods have been rendered almost obsolete as fraudsters use sophisticated spoofs that exhibit human traits including photos, videos, deepfake puppets, masks, and dolls. “Even authentication processes with gesture and motion requirements to overco...
African News, Mozambique News

New Handling Record at Port of Maputo Points to a Positive Market Recovery

Leading transport event tackles the key challenges of inter-Africa trade expansion In 2021, the Port of Maputo achieved a new handling record of 22.2 million tons, representing 21% year-on-year growth compared to the previous year’s handling volume of 18.3 million tons. A reflection of a post-Covid market recovery, Mozambique’s Maputo Port Development Company (MPDC) CEO Osório Lucas says this growth can also be attributed to a more efficient usage of several of the port’s rehabilitated berths, as well as an expanded ferro slab footprint and dedicated rail siding. “Investment in automation solutions within the port were carried out throughout last year, as part of a strategic expansion plan prepared by the MPDC to address the bottlenecks within the Maputo Corridor and therefore imp...