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Bank Fight Telcos Over Mobile Money Dominance in Ghana
The Central Bank announced a new set of guidelines for the service about a year ago to improve money transfer via mobile phones. The new regulatory regime among others empowered telecom companies to also own and run the electronic money business like banks.
However, it appears the banks are rather concerned about the threat posed by mobile money services.- Categories
- Technology
- Region
- Sub-Saharan Africa
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Mark Zuckerberg has made a surprise visit to Nairobi to learn about mobile money
On his surprise tour of tech hubs in Africa, Mark Zuckerberg has made a pit stop in Nairobi. Announcing his arrival on Facebook, he described talking with entrepreneurs working out of the tech space, the iHub, and dining on ugali and tilapia with Kenya’s cabinet secretary of information and communications.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Betting Craze Powers Mobile Money to 20 Percent Growth in Kenya
The volume of cash moving through mobile money transfer platforms grew by a fifth in the first six months of this year, powered by increased uptake of cellphone-based gaming, industry data shows.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Bank of Ghana to Make Mobile Money Platforms Interoperable
The Bank of Ghana has initiated a project to implement a mobile money payment infrastructure that will enable the seamless transfer of funds from one network provider to another (interoperability).
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- cash transfers, fintech
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Nigeria’s Paga Is Succeeding Where Others Mobile Money Providers Failed
Paga, the biggest mobile money service provider in Nigeria, plans to increase its agents across the nation to 30,000 by 2018 as it seeks to become the county’s largest mobile financial access points across Africa’s most populous nation. The mobile money services provider, which was founded in 2012, currently has 10,104 agents in 35 states across Nigeria, with 3,000 in the commercial city of Lagos.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Mobile Payments Drop By 85% In 2016
Nigerians’ interest in mobile banking and payments have begun to wane as the volume and value of transactions consummated on the mobile platform has dwindled by more than 85 per cent in the first seven months of 2016.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- fintech
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It’s the Ecosystem, Stupid – Exploring the ‘Digital Poverty Stack,’ Part 1
Donor investments to leverage technology have largely failed to achieve their imagined potential, often producing sub-scale pilot projects which do not solve a real problem. Instead, donors should focus on building a “digital poverty stack,” a set of interoperable and reusable digital tools that can be built into a large number of applications.
- Categories
- Technology
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Fingerprint Technology Expanding In African Mobile Banking
London-based bank Standard Chartered plans this year to introduce biometric technology to customers in eight African countries so they can use fingerprints to access their mobile money — a process known as touch login — versus usernames and passwords.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech