fintech africa news Archives - AfricaBusiness.com

13Sep

By Africa BusinessNo Comments

Fintech

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

Nikki Kettles, Executive: Licences and Payments Regulation at Mukuru Genuine financial inclusion is vital if we are to bring millions of unbanked and underserved communities in Africa into the mainstream economy. This doesn’t just benefit the communities, it has a knock-on effect for economies, regions and the continent. Financial services are tightly regulated and this presents a challenge for fintechs — how do you innovate while working effectively within differing regulatory frameworks on the continent? While these frameworks may differ substantially, there are common barriers fintechs need to overcome. Before we get there, it is important to start at the beginning. Not many people understand what financial inclusion actually means. There is a misconception that financial inclusion me...

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...

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, ...

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...

14Mar

By Africa BusinessNo Comments

Fintech

Ukheshe takes a fresh, dynamic approach to its African growth

The adage ‘jack of all trades, master of none’ is apt for enterprises considering expansion into new African markets. Anthony Karingi, Vice President of Business Development - East Africa at leading fintech enablement partner Ukheshe, says the company is taking a collaborative approach to its regional expansion strategy – and is already reaping the benefits. “As Ukheshe expanded into five core East African markets - Kenya, Tanzania, Uganda, Rwanda, and DRC, together with other countries like Zambia and Zimbabwe – we made sure to establish partnerships and leverage local knowledge. We recognised that we cannot be all things to all people and that it would make more business sense to focus on our strengths while working closely with our partners to leverage theirs.” Karingi joined Ukheshe i...

Fintech ImaliPay signs deal with Renda to empower e-commerce across Africa

3Mar

By Africa BusinessNo Comments

Fintech

Fintech ImaliPay signs deal with Renda to empower e-commerce across Africa

ImaliPay, a leading fintech-as-a-service provider, has signed a major deal with 3rd Party e-commerce fulfillment solution Renda (1st March 2023). The partnership will support businesses across Africa by simplifying and streamlining the process of order fulfillment for Enterprise and Medium-sized businesses across Africa, starting with Nigeria. The two companies will provide key services to ambitious businesses, making it easier to reach their target audiences and for consumers to access the products and services they need. Renda is a technology-driven 3rd Party fulfillment solution provider that enables enterprise and medium-sized e-commerce businesses to grow and scale across Africa. It enables e-commerce businesses to easily search and book a storage space, monitor real time status of ...