In order to support recovery from the earthquake that damaged many parts of Morocco on September 8 and the flooding that began in Libya on September 11, several money-transfer firms are offering free international transfers to people affected by the disasters.
UAE-based e& Money, the
Nigeria-based Okra Solar, whose products serve 14,000 people in Cambodia, Haiti, Nigeria, and the Philippines, recently raised USD 8 million in equity from five investors. The investment package is led by US-based At One Ventures and includes USD 1.5 million from
Kampala-based Stanbic Bank Uganda and the UN International Fund for Agricultural Development (IFAD) have announced a partnership with the goal of reducing the cost of remittances to Uganda from other countries. In particular, the aim is to
This year’s summit of the US-based NGO Concordia is intended to further the organization’s mission of confronting “the world’s most pressing challenges through
Lipa Later, a Kenyan financial technology (fintech) firm active in four countries, has partnered with US-based Mastercard to expand its merchant network and technological infrastructure in support of the “buy now-pay later” options that it offers online and in-store consumers. According to
Moniepoint Microfinance Bank, a Nigerian subsidiary of UK-based Moniepoint, recently launched a debit card and a mobile app called Moniepoint Personal Banking. The app allows users to: (1) make bill payments, send money to friends and family, and purchase credit for mobile devices; (2) play games that offer
Kacha Digital Finance Services, an Ethiopian financial technology (fintech) company, recently received approval from the National Bank of Ethiopia (NBE) to offer services such as remittances, bill payments, airtime purchases and accepting merchant payments through its eponymous mobile app. The firm, which
Nigeria’s Universal Insurance recently launched a mobile app to facilitate its customer service interactions. The app allows users to buy and manage policies as well as to file and receive support on claims. The firm also debuted the Universal Insurance Network, through which customers can
FINCA Ventures, an affiliate of the US-based NGO FINCA International, recently invested an undisclosed sum to take a minority stake in CassVita, an agricultural technology (agtech) firm aiding Cameroonian farmers in cultivating cassava as a climate-resilient alternative to other crops. CassVita finances farmers’ inputs, purchases their crops and processes the cassava into flour. This approach curbs spoilage,
The Ivorian unit of the France-based renewable energy company Baobab+ recently borrowed EUR 1.2 million (USD 1.3 million) from Dutch cooperative investor Oikocredit. Baobab+ is active in six African countries, primarily selling
This paper examines the growth and challenges of digital payment adoption by retailers in Africa, including “contactless payment (QR codes, tap to pay) [and] buy-now-pay-later” services. The authors note four main prerequisites for merchant adoption:
Registration is due to open within days for SAM 2023 – Semaine Africaine de la Microfinance – which will include a multi-day conference, a gala dinner, an Innovators’ Village and a two-day Investor Fair. The second day of the Investor Fair is new, reflecting the fact that small and medium-sized enterprises (SMEs) will
The tenth edition of the Africa Financial Services Investment Conference (AFSIC) will promote investing in the continent with presentations on trends in environmental protection and sectors such as agriculture and financial technology (fintech). In addition to country-specific investment and networking meetings, the agenda includes sessions titled: (1) Banking in Africa – for
Africa Climate Ventures (ACV), a Rwanda-based venture fund that invests in “green” companies across Africa, recently borrowed EUR 1 million (USD 1.1 million) in the form of a convertible loan from Financial Sector Deepening (FSD) Africa Investments, an affiliate of the Kenya-based NGO FSD Africa. FSD Africa Investments is supporting the loan with
Seedstars, a Switzerland-based investment and education firm, is accepting applications from financial technology (fintech) startups looking to scale up their services to women in Africa and Asia who have migrated from their homes or whose family members have done so. Seedstars is offering this support through its Financial Innovations for Women Affected by Migration (FIWAM) programme, which includes
Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add
This paper examines how the perception of obesity as a symbol of wealth can yield financial benefits to overweight people in southern Uganda. The author applied computer software to photos of 34 test subjects to create
Norway’s Spenn Technology recently expanded its partnership with the Rwandan unit of Kenya’s Investments & Mortgages (I&M) Bank to allow users of the Spenn mobile application to send money to any financial services provider in Rwanda, including banks and competing mobile money services. The app’s other features include