Tag Archives: Financial Services in Africa

Fintechs need to overcome regulatory barriers that limit access to financial services for underserved communities

Nikki Kettles, Licences and Payments Regulation Executive at Mukuru, discusses how regulatory barriers often limit fintech innovation and hinder access to financial services for these communities. She highlights the importance of collaboration between fintechs and regulators in overcoming barriers to innovation and expanding access to financial services for underserved communities. Mukuru’s success in holding 49 licenses across 15 countries underscores its deep commitment to working closely with regulators while expanding financial access.

Avoiding Instant Electronic Funds Transfer payments Risks

In 2020, e-commerce in South Africa spiked by 66%, driven by COVID-19-induced lockdowns and a drop in brick-and-mortar retail sales[i]. This increase was accompanied by an upsurge in the use of instant Electronic Funds Transfer (EFT) payments. Towards the end of last year however, the SA Reserve Bank, Payment Association of South Africa (PASA), and […]

Future proofing banking through the power of data, APIs and automation

The global pandemic has ushered in a new paradigm for the Retail Banking sector, one which demands quicker transformation to a customer-centric service that is digitised, personal and convenient. A recent Financial Industries panel discussion held by Kearney, a global consultancy, shed light on how the power of data, Application Programming Interfaces (APIs) and automation […]

Fintech, Ofin, tackles behavioural changes needed to address financial inclusion

It is a common belief that financial access should lead to financial prosperity. According to the World Bank, financial inclusion is defined as all people and businesses having access to useful and affordable financial products and services that meet their needs. Sakhile Mabena, CEO, Ofin, a venture-backed fintech startup specialising in Behavioural Data Analytics, Financial Process […]

Affordable digital banking to revolutionise price-sensitive East African payments market

In a region still dominated by cash and mobile money options, like M-Pesa, new collaborations between fintechs are looking to capture the price-sensitive market with innovative, open-loop digital payment solutions in East Africa. According to Mark Dankworth, President International, Ukheshe Technologies, the region is poised for a surge in digital banking growth, with the likes of […]

The Rise Fund to invest $200 million in Airtel Africa’s mobile money business, at $2.65 billion valuation

Airtel Africa to explore potential listing of mobile money business within four years. Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, announced on 18th March the signing of an agreement under which The Rise Fund, the global impact investing platform of leading alternative investment […]

Efficient Payment Solutions Essential for SME Survival

Small and Medium-sized Enterprises (SMEs) have long been hailed as the lifeblood of the economy. Now, in the wake of the COVID-19 crisis, they are critical for its recovery. Not only do they contribute 35-50% of national GDP globally, they also drive over two-thirds of new job creation[i]. Ultimately, the more SMEs succeed, the better our […]

Development Trend of African Startups and Fintech

RF._.studio: Pexels

Africa is a land of opportunity long neglected. It is unique and the diversity in cultures may make it difficult for something new to be accepted in society. However, the scenario has changed and African markets have started to gain attention from the past couple of years. Therefore, we can see the rise of African startups as […]

Friday@Noon on Financial Services in Africa: 2018

by Johan Burger The NTU-SBF Centre for African Studies publishes a weekly newsletter on issues relevant to Africa. This paper is based on issues addressed in the newsletter. The financial services industry in Africa has seen a lot of development throughout the past few years, as was the case in 2018. Mobile telephony has driven […]