FinTech Archives - Page 9 of 10 - AfricaBusiness.com

Efficient Payment Solutions Essential for SME Survival

14Mar

By Africa BusinessNo Comments

Fintech, South Africa News

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 economy performs. However, their success – and survival – hinges largely on cash flow management. This is according to Francois Hamer, Business Development Lead at Pay@ - a leading payment aggregator and provider of secure payment solutions. With cashflow management being the reason why 82% of small businesses fail[ii], Pay@ has developed Yap – an electronic bill presentment and payment tool for on-the-go invoicing and payment requests, specifically for ...

9Mar

By Africa BusinessNo Comments

Fintech, South Africa News

South African Fintech enabler, Ukheshe Technologies, confirm global expansion

Leading South African digital fintech enablement provider, Ukheshe Technologies has confirmed it is expanding its operations internationally. Having established itself as a formidable payment technology specialist within the B2B sector, the company has set its sights on the Middle East, Europe and Asia Pacific. The move comes on the back of several successful high-profile projects and partnerships in various African countries including Kenya, Zimbabwe, Zambia, Namibia, Nigeria, Malawi, Botswana, Angola, Tanzania, Rwanda, Burundi, Democratic Republic of Congo, Mozambique, and Ghana. In addition to collaborating with numerous blue-chip banks, telcos and fintechs, Ukheshe has built strong alliances with Mastercard while acquiring two companies and raising just under R100m within a two-year pe...

The lessons of 2020 are driving trends in business leadership and Fintech for 2021, says Innovate1Pay Chairman Mahmood Ahmadu

3Feb

By Neha KaulNo Comments

Fintech, Nigeria News

The lessons of 2020 are driving trends in business leadership and Fintech for 2021, says Innovate1Pay Chairman Mahmood Ahmadu

Entrepreneur, Philanthropist and Chairman of Nigerian Fintech firm Innovate1Pay, Mahmood Ahmadu has shared his vision for 2021, as businesses reopen in the new normal. Drawing on the pragmatic leadership required in a highly disruptive 2020, and the positive impact of Fintech during the crisis, Mr Ahmadu believes that the building on these lessons will be crucial for economic revival, in 2021. Founder and Chairman of Nigerian Fintech firm Innovate1Pay, Mr Mahmood Ahmadu has called on business leaders to contextualize their 2021 strategies, in light of the lessons learnt from the disruption due to the COVID-19 pandemic in 2020. Widely acknowledged as one of the leading African entrepreneurs - and recipient of the Forbes Africa Award and Euro-knowledge Award in 2020, for his philanthropy ...

Five Tech Megatrends that can Transform African economies in 2021 and beyond

15Jan

By Richard LiNo Comments

African News, Agriculture, Fintech, Main, Medicine

Five Tech Megatrends that can Transform African economies in 2021 and beyond

The world has been experiencing massive digital disruption with the relentless rollout and adoption of disruptive and innovative technologies. Embracing digital disruption is daunting, since it is extremely unsettling with the rapid change brought about within societies and the severe impact on unskilled labor. Even if the African continent will not be spared by digital disruption, Africa cannot afford to be left out of these global technology (Tech) trends. If technology is wisely implemented, developing African countries are able to hop on the digital bandwagon to rapidly undergo a digital revolution that can boost their respective economies. While disruptive technologies like artificial intelligence, additive manufacturing, augmented and virtual reality, and others are becoming more and...

10Jan

By Africa BusinessNo Comments

Fintech, South Africa News

Fighting Fraud in 2021

The COVID-19 pandemic has had a drastic impact not only on people’s health and wellbeing, but on that of businesses too. This was especially poignant for many companies that had to venture into the online world for the first time. Unsurprisingly, the uncertainty that coincided with the sudden digital migration created the perfect opportunity for fraudsters looking to capitalise on the confusion. In fact, South Africa has the third most cyber victims worldwide, losing R2.2 billion a year, with low investment in cybersecurity and immature cybercrime legislation making the country the ideal target.[i] So, what can companies do to ensure that their business is safe from cyber-fraud in 2021? “The first step towards insulating your business from cyber-crime and fraud is to make sure you’re using...

Development Trend of African Startups and Fintech

3Dec

By Shahina ParvinNo Comments

Fintech, Kenya News, South Africa News, Startups

Development Trend of African Startups and Fintech

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 regions progress with time accepting change. Consequently, poverty is going down and the African society promises a safe future and a solid education system for generations to come. Amidst this progress, the number of fintech companies in South Africa is emerging at a rather very fast pace. As the country is starting to embrace digital payment and banking systems instead of the traditional banking system, it has become easy for African tech startups to grab a hold of ...

15Oct

By Giorgi MikhelidzeNo Comments

Fintech, Forex

Why is the fintech industry flourishing in Africa in 2020?

South Africa is moving very fast in the direction of the FinTech industry. The country is very determined not to be behind the whole show. They are also relaxing the regulations in order to help the flourishing of the FinTech industry. How South African FinTech development is transforming the foreign exchange landscape In South Africa, several years ago, almost all the Forex market trades were held by telecommunication. Today everything has transformed and 75% of trades are done online. Expanding the culture of financial technology was always important for the SA. Most of the people who are finding themselves in a good financial situation are involved in trading. FX platform development in SA is also helping the economy. The government is supporting the FinTech development in the country b...

N’Gunu Tiny on How blockchain funding will disrupt the games industry in Africa

15Sep

By Veselina DzhingarovaNo Comments

Fintech, Interview, Kenya News

N’Gunu Tiny on How blockchain funding will disrupt the games industry in Africa

N’Gunu Tiny, Founder and Executive Chairman of the Emerald Group is an expert in Fintech, blockchain and innovative tech. Here’s his take on the impact blockchain could have on the gaming industry in Africa and around the world. The global gaming industry is one of the few that has managed to thrive in 2020. Lockdown only increased the number of console and online gamers around the world. And there are no signs of it slowing down. In fact, with the integration of blockchain technology, gaming and how it’s funded is about to evolve onto a whole new level. How does the games industry in Africa compare with the rest of the world? Before we look at how this will affect Africa specifically, it’s important to look at the global gaming industry in context. Taking one of the biggest online games...

How Fintech can help secure the world from the economic impact of viral pandemics

3Jun

By Mahmood AhmaduNo Comments

Fintech, Interview, Main, Nigeria News

How Fintech can help secure the world from the economic impact of viral pandemics

The coronavirus pandemic continues to turn the world and our lives upside down, with the outbreak forcing governments to put into place measures that reduce the risk of contamination, and focus on pre-emptive processes. The strain on the economy is palpable, and is an impending catastrophe that could exceed the crash of 2008, and the Great Depression a century ago, if left unchecked. Besides asking people to practice social distancing and enforcing lockdowns to avoid the spread of the contagion, governments have another source of contamination they need to worry about: banknotes. The latest Fintech innovations can help mitigate the risk of transmission of the virus, by reducing the need to use physical money. Viruses and pathogens are known to live on surfaces for up to 48 hours. Some res...

How fintechs are making Africa a leading global Innovation Hub

24Jan

By Josephine WawiraNo Comments

Fintech, Kenya News, Main, Nigeria News, South Africa News

How fintechs are making Africa a leading global Innovation Hub

In a continent where over 60% of the adult population is unbanked and the financial sector is considerably underdeveloped, fintech has been a welcomed revolution that is seen to be boosting Africa’s financial infrastructure. With a growing population, an increasing rate of mobile and internet penetration, combined with a substantial need for financial inclusion, Africa is fecund ground for the growth of fintechs and tech giants. There exist endless possibilities, as entrepreneurs seek to use technological advancements to create a range of more reliable and customer friendly solutions to real-world problems. A sizeable number of fintech startups in the continent are closing existing gaps in various industries including healthcare, agriculture, transportation, e-commerce, and mobile money se...