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Report: Over 500 Million Mobile-Money Users Expected in Africa in 2020
With 50 million new accounts created on the continent in 2019 and a 12% increase in registered users, Africa is by far the leading continent for mobile-money services. However, growth is uneven from one region to another.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Safaricom, Vodacom Acquire M-PESA Payments Platform
“Our joint venture will allow Vodacom and Safaricom to drive the next generation of the M-PESA platform, an intelligent, cloud-based platform for the smartphone age. It will also help us to promote greater financial inclusion and help bridge the digital divide within the communities in which we operate.”
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Coronavirus Seen as Trigger for Mobile Money Growth in West Africa
Mobile money providers across Africa have reduced or waived transaction fees and governments are encouraging digital payments to reduce person-to-person contact and potentially slow the spread of the virus.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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From the Valley of Death to a $14 Million Series A: Sokowatch, Quona and the Role of Philanthropic Capital
The e-commerce company Sokowatch recently raised a $14 million Series A round, enabling it to expand its digital financial services to more merchants in Africa. But just two years ago, the company was in danger of going under. Malika Anand and Maelis Carraro at BFA’s Catalyst Fund discuss how the fund's philanthropically-funded acceleration approach has helped Sokowatch – and other promising fintech startups – survive the “valley of death” and position themselves for commercial investment.
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Press Release: Western Union Expands Its Digital Services
Western Union is continuing to expand digital services and account payout during the COVID-19 pandemic.
- Categories
- Coronavirus, Finance
- Tags
- digital finance, fintech
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When Digital Payment Waves Lead to ‘Unbanking’
Ironically, fintechs and cashless payment technologies who promise to ensure financial inclusion often achieve the opposite results.
- Categories
- Finance
- Region
- South Asia
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Zimbabwe’s Lack of Cash for Once Is a Good Thing
“It’s a big advantage,” Eddie Cross, a member of the central bank’s monetary policy committee, said of the cashless environment. Reserve Bank Governor John Mangudya last week urged lenders to ensure uninterrupted continuity with all digital banking platforms, which were the “safest and most secure forms” of transacting.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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Coronavirus Will Be Even Worse For Low-Income People And Businesses, But Fintechs Can Help
Around the world, financially insecure people are fundamentally more susceptible to financial shocks like coronavirus, and the current crisis is bringing the challenges this population faces into stark relief. Innovative, inclusive fintech is crucial for weathering this pandemic
- Categories
- Coronavirus, Finance
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