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From Financial Inclusion to Employment: Four Ways Superplatforms Will Shape Africa’s Future
Perhaps surprisingly, young people in sub-Saharan Africa and other low-income countries haven't embraced digital payments to the extent of their older peers. But that may be changing as "superplatforms" like Alibaba and Facebook – which can leverage their data and tech capabilities over multiple sectors – emerge in the region. David Porteous and Amolo Ng’weno of BFA and Olga Morawcynski of Mastercard Foundation discuss four ways these tech platforms will shape youth employment, financial inclusion, digital identity and other fields.
- Categories
- Finance, Technology
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Press release: Xoom Partners with OXXO to Add More Than 17,000 New Cash Pickup Locations in Mexico
“We’re thrilled to be the first online-only remittance provider to partner with OXXO,” said Julian King, Xoom’s Vice President and General Manager. “With this partnership, Xoom is furthering its mission to empower customers with the technology to send international money transfers quickly and securely so they can enjoy peace of mind knowing their loved ones have fast and convenient access to their funds.”
- Source
- Press release
- Categories
- Finance
- Region
- Latin America
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With a $10 million round, Nigeria’s Paga plans global expansion
The company is planning to release its payments product in Ethiopia, Mexico, and the Philippines— CEO Tayo Oviosu told TechCrunch at Disrupt San Francisco.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech, startups
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Press release: WorldRemit launches digital money transfers within Africa
Leading international money transfer company WorldRemit has launched a new digital service within Africa, making it easier to send and receive money across the continent.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Tanzania’s Nala wins Ecobank Fintech Challenge
After being named overall winner of the annual challenge, which is run annually by Ecobank and was last year won by Nigerian fintech startup IroFit, Nala walks away with US$10,000 in prize money.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech, startups
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Indonesia’s Go-Jek to partner with peer-to-peer lending firms
Go-Jek, whose backers include Alphabet Inc’s Google and China’s Tencent Holdings, has grown rapidly since launching eight years ago in Indonesia, a country with a population of more than 250 million people.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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Viewpoint: India’s Cash Ban Failed Even to Create a Bank Savings Culture
What’s going on? Some have argued that lower interest rates are the problem. That’s not an easy sell: Over the past year, India was one of the few countries with strongly positive real rates — and savings in bank deposits were a higher fraction of disposable income back in 2012-14, when Indians were dealing with negative real interest rates.
Perhaps, instead, a change in behavior is responsible.- Categories
- Finance
- Region
- South Asia
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Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself
Paystack, a Stripe-like startup out of Lagos that provides online payment facilities to merchants and others by way of an API and a few lines of code, is announcing that it has raised $8 million in a Series A round of funding.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech, startups
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