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MTN South Africa May Pull Plug on Mobile Money
South Africa’s second largest mobile network by subscribers, MTN South Africa, has stopped signing up new Mobile Money customers as it studies the feasibility of the product.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Nigerian Regulator Restores WorldRemit, 10 Other Money Transfer Operators
The Central Bank of Nigeria has given new operating licenses to 11 International Money Transfer (IMTOs) service providers, in efforts to open up the market and make foreign exchange readily available to the nation’s low income earners.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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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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