PawaPay, a leader in mobile money payment systems in Africa, has surpassed $1 billion in transactions. This is a major milestone for a company dedicated to enhancing mobile financial services across Africa. While PawaPay has gained prominence by working with Africa’s “Big Four” economies—Nigeria, Kenya, South Africa, and Egypt—its future strategy appears to shift toward…
Omniscient, a prominent South African fintech company, recently received the Finovate 2024 Excellence in Financial Inclusion Award, recognizing its innovation in delivering financial services to underserved communities. This achievement highlights the growing importance of fintech in bridging the financial divide globally, particularly in developing markets like Kenya. Kenya too has made remarkable progress in financial…
Kenya’s internet landscape continues to evolve rapidly, and the latest player making waves is Starlink. A subsidiary of SpaceX, Starlink is known for offering satellite-based internet to regions with unreliable connectivity. Now, with its new mini kit, Starlink is making a bold move by lowering the cost of entry for consumers in Kenya. The newly…
Micro, Small, and Medium Enterprises (MSMEs) are the backbone of many economies, particularly in developing regions like East Africa. They drive job creation, innovation, and economic growth, but they often struggle with one critical challenge: access to financing. The International Trade Center (ITC) has recognized this and has recently launched an innovative solution—the MSME Financing…
Article Highlights: Born from the vision of central banks in Thailand, Hong Kong, China, and the United Arab Emirates, mBridge operates under the Hong Kong BIS Innovation Hub. It’s not a solo act. The project boasts an impressive roster of participants: Africa’s getting in on the action too. The Bank of Namibia, South African Reserve…
The Mobile Revolution Kenya, with over 32 million smartphones in use, is undergoing a financial transformation. Mobile money platforms like M-Pesa have revolutionized transactions, allowing many Kenyans to save, send, and receive payments without traditional banking. This change has been pivotal for 44% of the population previously excluded from formal banking services. Now, a new…
Africhange, a Nigerian fintech company, has launched its operations in the UK. The company aims to meet the growing demand for convenient remittance services between the UK and Nigeria. This expansion marks a significant step for Africhange as it seeks to provide a seamless and cost-effective platform for money transfers across various regions. Global Reach…
Standard Chartered Kenya is making waves with its new SC Juza mobile loan app, offering quick loans to Kenyans. With this app, customers can borrow between Ksh 1,000 and Ksh 100,000, with a monthly interest rate of just 1.60% and a processing fee of 5.50%. However, if you don’t repay within a month, expect an…
