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Report: Mobile Money Transactions in Kenya in 2023 Declined for the First Time in 17 Years
It remains uncertain whether the decline in mobile money transactions might impact Kenya's Gross Domestic Product (GDP) given that mobile money agents reportedly handle approximately 60% of the country's GDP.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Report: Nigeria Increases Financial Inclusion But Still Far from Goal
Nigeria has struggled for nearly a decade to revive an economy hit by flagging crude revenue and an acute dollar shortage.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Orange Withdraws from Ethio Telecom Sale Process
The France-based operator group explained it would not move forward with a plan to attempt to acquire a 45 per cent stake in the Ethiopian business.
- Categories
- Technology, Telecommunications
- Region
- Sub-Saharan Africa
- Tags
- mobile finance
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Kenyan Businesses Are Dropping the World’s Favorite Mobile Money Service
The shift by businesses away from M-Pesa payments is a remarkable turn in a country known for pioneering mobile money, and where the service is ubiquitous.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Press Release: Report: 95% of Fintech Apps Across Africa Immediately Expose Valuable, Exploitable Secrets
Approov, the end-to-end mobile security provider, released a report showing that 95 percent of the most popular African banking and financial services apps contain easy-to-extract secrets.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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A $200 Billion Opportunity: What Payment Data Shows About the Rise of Africa’s Digital Economy
Africa’s digital economy is growing rapidly, and according to Agosta Liko at Pesapal, businesses, financial institutions and governments could add US $200 billion to the continent’s GDP in the next six years by supporting that growth. He shares payment data that highlights how, and where, digital transactions are happening in Africa — both online and in person — and explores what that means for the digital economy’s growth prospects in the region.
- Categories
- Finance, Technology
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Press Release: Bancolombia and Terrapay Sign Contract to Strengthen Cross-Border Remittances Across Colombia
As part of their collective commitment to enhance financial inclusion, the two companies will enable seamless cross-border transfers.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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In Pursuit of a Cashless Africa: Learning from Nigeria’s Struggle to Accelerate its Transition to Digital Finance
The use of cash for payments is dwindling globally, while the electronic payments industry is burgeoning. As Osahon Akpata at Ecobank points out, this growth is also happening in Africa, though cash still remains king. He highlights several factors that are driving both the growth of digital finance and the ongoing usage of cash on the continent, exploring how African countries can accelerate their transition to a cashless economy — and what they can learn from Nigeria's struggles in that area.
- Categories
- Finance, Technology, Telecommunications