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Kenyan president proposes tax hike on money transfer services
Kenya’s biggest mobile phone operator Safaricom said in June it is opposed to a proposed tax rise on mobile phone-based transfers, arguing that it would likely mostly hurt the poor, most of whom do not have bank accounts and rely on mobile transfer services such as Safaricom’s M-Pesa.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Africa’s Jumo raises $52M led by Goldman to bring its fintech services to Asia
Jumo launched in 2014 and it specializes in social impact financial products. That means loans and saving options for those who sit outside of the existing banking system, and particularly small businesses. it claims to have helped nine million consumers across its six markets in Africa and originated over $700 million in loans.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, venture capital
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Press release: MoneyGram Launches Money Transfer Service to all Mobile Wallets in Ghana
"This is an important milestone for MoneyGram in Ghana as we're now offering real-time, seamless service to our customers and giving them more choices about how to receive their funds – at a physical location, directly to a bank account or a mobile wallet," said Grant Lines, MoneyGram's chief revenue officer. "Giving consumers the flexibility to choose between digital and cash pick-up is, and will continue to be, a competitive advantage for the company."
- Source
- Press release
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Zambians, Wary of Taxpayer ID Rule, Opt for Mobile Money Rather Than Banks
Zambia’s government and its banks insist the country’s new taxpayer identification numbers aren’t used to collect additional taxes. But the public’s suspicions about this ID requirement have driven many locals to favor digital transactions, now a booming business.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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World Bank evaluates Somalia’s vibrant mobile money market
Somalia’s economy is projected to grow at an annual rate of 3-4%, according to the third Somalia Economic Update compiled by the World Bank.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital finance, fintech
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Clickatell and UBA launch chat banking in Nigeria
Clickatell, an authorised WhatsApp business solution provider, has announced that United Bank for Africa (UBA) will be going live with their chat banking solution – Leo on WhatsApp
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, mobile finance
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Press release: Airfox Partners with Brazilian Retail Giant on Mobile Blockchain Financial Services
Airfox offers a mobile digital wallet that is already accessible in the Brazilian market nationwide and will eventually also be available in other emerging markets. This new collaboration allows Airfox to extend its mobile digital wallet to Via Varejo's national customer base and drive mainstream adoption.
- Categories
- Finance
- Region
- Latin America
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Mastercard partners with Vodacom to introduce first online card in Tanzania
The virtual card will allow M-Pesa mobile wallet holders to make payments on any local or international website or app where Mastercard is accepted for payment, without the need for a bank account or credit card.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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