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Nigeria’s central bank asks all microfinance institutions to recapitalise by 2020
The Central Bank of Nigeria(CBN) increases the minimum capital base of National Microfinance Banks to N5 billion from N2 million.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- microfinance
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Viewpoint: How the US will transform its investment role in Africa with a new $60 billion agency
For at least thirty years, the US’s commercial relationship with Africa has been dominated by resources underground. Oil, gas and minerals account for about half of all US direct investment in Africa. There has been growth in almost every sector of Africa’s economy, but commercial relations with the US have been dominated by US engagement in natural resources.
- Categories
- Investing
- Region
- Sub-Saharan Africa
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Kenya sets aside funds to develop domestic mobile phone industry
Kenya’s minister of information, communication and technology said on Tuesday that the government had set aside 1 billion shillings ($9.90 million) to help local start-ups in the mobile telephone software and hardware segments to grow.
- Categories
- Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Viewpoint: As Safaricom turns 18, has its innovation ‘conveyor belt’ slowed?
After the global acclaimed mobile money transfer service Mpesa, Safaricom has not had another innovation that has captured its users.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Cash triumphs in Kenya’s public buses as train, taxis embrace cashless system
The cashless system had the backing of the government, top telecommunication firms and banks, which touted the cards as the panacea to end corruption on the road and curb haphazard fare increases.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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In African cities, the “gig economy” is called the economy
For many African countries, the gig economy could just be called “the economy.” For example, just 17% of Kenyan employment is formal. Many of these economies are driven by the informal nature of the gainful employment that exists.
- Region
- Sub-Saharan Africa
- Tags
- employment
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Impact investing task-force created to draw in the private sector in South Africa
The task-force’s mission is to mobilise capital that will go into growing small businesses, dealing with unemployment and inequity, as well as investing in economic and social infrastructure such as education and healthcare facilities.
- Categories
- Investing
- Region
- Sub-Saharan Africa
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Press release: Nine new projects focused on financial inclusion to receive more than US $9 million
Lindsay Wallace, Director of Strategy and Learning at the Mastercard Foundation, said: “The aim of the FRP has always been to enable smallholder farmers and poor people living in rural Africa to reach their full potential by supporting new private sector initiatives that provide access to financial services. We’re very happy to see this latest round of selected firms, demonstrating the depth and breadth of ideas and action plans that will do just that.”
- Categories
- Finance
- Region
- Sub-Saharan Africa
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