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Alarm Over Numbers of Mobile Loan Defaulters in Kenya
Currently, there are more than 380,000 Kenyans that have so far defaulted on loans taken from mobile money lenders according to a comprehensive report by Metropol Corporation CEO, Sam Omukoko.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Safaricom increases e-commerce stakes after Alibaba Group deal
“This partnership seeks to connect Kenyans to even more business opportunities by enabling them to seamlessly source, purchase and import goods from the world’s leading manufacturers,” Safaricom Chief customer officer Sylvia Mulinge said.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Press release: Grant awarded to pilot ‘SHIFT KENYA’, first of its kind model to increase access to finance for healthcare SMEs
“SHIFT is the kind of blended finance solution that gets us excited. Not only does it aim to strengthen local capital markets and get local institutional investors off the sidelines, but if successful, SHIFT has the potential to be expanded and replicated in other sectors and countries outside of healthcare and Kenya,” says Joan Larrea, CEO of Convergence.
- Categories
- Investing
- Region
- Sub-Saharan Africa
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MTN to launch ‘WeChat of Africa’
The app will be launched in MTN markets in West Africa first as part of a “beta-testing” phase. The plan is to introduce it to all the countries in which it operates, including South Africa
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech
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M-Pesa, Western Union and Amazon could potentially disrupt Jumia’s e-commerce business
Three countries — Nigeria, Kenya, and South Africa — dominate e-commerce sales. Kenya has a population of 48.5 million and an impressive 79 percent internet penetration. This is because Kenya is home to M-Pesa, the mobile wallet provider started by mobile telecom provider Safaricom. The availability of a secure payment system encourages internet access and online buying.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Nigeria, others to push mobile money accounts to 110 million by 2024, says GSMA
“The mobile money industry is fast-evolving against a backdrop of increasing internet access and smartphone adoption, and now more than ever, mobile’s unparalleled global scale provides a tremendous opportunity to reach the 1.7 billion people who remain financially excluded, said Mats Granryd, Director General, GSMA.”
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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BBOXX receives largest crowdfunded debt raise in history of solar energy in Africa
BBOXX and Trine’s funding initiative has hit the €6 million mark – in what is the largest crowd-funded debt raise in the history of solar energy in Africa. Mansoor Hamayun, CEO and Co-Founder of BBOXX comments: “Hundreds of millions of people in Africa still live without electricity. Collaborating with Trine has allowed us to tap into retail investors who share our vision for transforming people’s lives through sustainable energy provision."
- Categories
- Energy
- Region
- Sub-Saharan Africa
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Digital commerce will transform African economies, starting with cheaper phones
Growth could have a massive impact on African countries, with their young and increasingly urban populations. But most governments are not ready.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- e-commerce, employment
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