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Number of Digital Lenders Approved in Nigeria Reaches 284
The multiplicity of the apps being used by digital lenders is cited as one of the reasons the Commission is finding it difficult to curtail the incidences of harassment and defaming of borrowers by digital lenders.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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M-Pesa and Data Revenue Push Safaricom to First Profit Growth in Three Years
Revenues from M-Pesa grew 20% year-on-year, reaching $1 billion (KES140 billion) from $891.3 million.
- Categories
- Telecommunications
- Region
- Sub-Saharan Africa
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South African Fintech Company Adumo Acquired by Lesaka in $85.9 Million Deal
Adumo is South Africa’s largest independent payments processor, assisting approximately 23,000 active merchants.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Promoting Financial Inclusion in the Caribbean: A Broken ATM in the Bahamas Reveals the Need for Digital Banking Solutions Across the Region
Imagine if your only access to your salary and savings depended on a single ATM. Now imagine that someone takes a hammer and smashes it up. As Nicholas Rees at Kanoo Pays explains, that was the situation facing a community in The Bahamas after vandals damaged the district’s sole ATM. He discusses the challenges experienced by remote, cash-dependent populations across the Caribbean, and explores how Kanoo Pays' digital wallet leverages offline payment capabilities and Central Bank Digital Currencies to address these customers' unique needs.
- Categories
- Finance, Technology
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American Express Sets its Sights on Expansion and Innovation in Nigeria and Beyond
The company plans to increase its presence in Africa, with a current operation in 30 countries and a goal to expand to 42 countries in the sub-Saharan region.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, lending
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India, Ghana Agree To Operationalise UPI Link Within 6 Months
The linking of Indian and Ghanaian instant payment systems will be the latest in India's expansion of UPI operations, which are already available in countries such as France, UAE, Sri Lanka and Mauritius.
- Categories
- Finance, Technology
- Region
- South Asia
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Inclusion Requires Interoperability: Why All Digital Financial Services Should be Interoperable
As of 2021, there were 1.4 billion financially excluded people globally — over 1 billion fewer than there were in 2011. As Briana Marbury at the Interledger Foundation explains, mobile money and other digital financial products and services have helped to drive this progress, reaching populations that have traditionally been excluded. But she argues that this momentum has highlighted an emerging issue that could limit the impact of the growth in financial inclusion: the lack of interoperability between digital systems.
- Categories
- Finance, Technology, Telecommunications
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Norrsken22 Invests $205 Million in Africa’s Growing Fintech Sector
Lexi Novitske expects a rebound beyond pre-2020 levels despite a dip in 2023.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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