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Safaricom sees lingering break-up threat
Safaricom is still facing the threat of being broken up as the Kenyan regulator weighs up a report on dominance in the country’s telecommunications industry, CEO Bob Collymore said. East Africa’s biggest company by market value may resort to court action to prevent it from being split, Collymore, 59, said in an interview Wednesday in the capital, Nairobi
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- Uncategorized
- Region
- Sub-Saharan Africa
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Fintech’s Coming to Trounce India’s Banks
India's banks, which still dominate the country's financial landscape, appear to have hardly a kick left in them. Stressed assets without any loan-loss cover now exceed $96 billion, McKinsey & Co. said last week. An overwhelming 91 percent, or $87 billion, of the provisioning gap is at state-run lenders, whose net worth would be wiped out if they took the hit on their capital.
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- Technology
- Region
- South Asia
- Tags
- fintech, mobile finance
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Paytm to start India payments bank operations from May 23
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to a resident Indian, Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
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- Technology
- Region
- South Asia
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Impact Investor Omidyar Network Shows Fintech must be more User Friendly
The report findings come as a result of in-depth interviews and human-centered design prototyping sessions with consumers across 30 communities in Nagaland, Bihar, Maharashtra, Karnataka, and Telangana, covering a mix of rural, semi-urban, and urban areas.
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- Investing, Technology
- Region
- South Asia
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How Rwanda can leverage financial technology to drive inclusion
Speaking during the opening ceremony at the Kigali Convention Centre, Dr Diane Karusisi, the chief executive of Bank of Kigali, said digital services are raising the competitive bar in every sector of the economy, one of which is the banking field.
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- Technology
- Region
- Sub-Saharan Africa
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Branchless Banking Customers in Indonesia Vulnerable to Overcharges, Data Breaches, says MicroSave Survey
Agents are typically the main conduit of information for branchless banking customers regarding transaction fees. According to the survey, 74 percent of digital financial services users in urban areas and 88 percent of users in rural areas rely solely on their agents – who typically print their own pamphlets that advertise false transaction fees – for relevant information, Mohammad said.
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- Uncategorized
- Region
- Asia Pacific
- Tags
- fintech, mobile finance
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Looking For the Next Big Thing: New Partnership Builds Fintech Ecosystems in Four Emerging Start-up Markets
A new partnership between Village Capital and MetLife Foundation seeks to build the fintech ecosystems in four emerging start-up markets: Poland, Turkey, the United Arab Emirates and Ukraine. The idea is to find, and then support, entrepreneurs working specifically in fintech who have the potential to solve real-world problems.
- Categories
- Technology
- Tags
- financial inclusion, fintech, scale
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Kenya operators drop cross-network money surcharges
Cross-network transactions are currently possible in the country, but are complex to execute and carry additional charges.
- Categories
- Technology
- Region
- Sub-Saharan Africa