News
Yellow Card Is the First Fintech in Africa to Launch PayPal USD (PYUSD)
Yellow Card becomes the first fintech on the continent to launch PayPal USD (PYUSD). This new stablecoin from PayPal, issued by Paxos, will open new horizons for digital financial transactions between Africa and the United States. Crypto adoption in Africa
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Africa’s SuperApp Gozem Goes Fintech With Acquisition of Benin
Gozem, Africa’s Super App, announced its acquisition of Moneex, an innovative Fintech app from Benin dedicated to provide global banking to African businesses and consumers. This transaction combines the strength of Gozem’s Super App network with the breadth of Moneex’s
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Unlocking the Future of Consumer Lending with AI and Automation
With the ever-evolving landscape of financial technology, consumer lending has never been more accessible and efficient – in large part, due to fintech innovation. With a global consumer credit market size of US$11 billion, rapidly growing middle classes in emerging
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Oceanbase Supports Palmpay to Reduce Its Database Cost by 80%
OceanBase, an enterprise-level distributed relational database provider, announced that its database solution has been deployed and put into operation in the core IT systems of PalmPay, a leading fintech platform in Africa. PalmPay, the first Africa-based customer to adopt OceanBase,
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Africa and Gulf Bank Selects Temenos to Deliver Digital Transformation on the Cloud
Temenos announced that Africa and Gulf Bank (AGB), one of the progressive banks in Sudan, has selected Temenos to modernize its digital and core banking capabilities. The Temenos solution, hosted on the cloud, will enable AGB to provide products faster
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Despite Growth and Potential, Fintech Development Faces Challenges in Nigeria
In Nigeria, the fintech industry has expanded well beyond payment services to now encompass a wide range of segments, including regulatory compliance, credit and blockchain. This growth has been driven by mass adoption of digital financial services and increased collaboration
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His Excellency President Paul Kagame to Open Mobile World Capital Kigali 2023
The GSMA announced that His Excellency Paul Kagame, the President of the Republic of Rwanda, will formally open MWC Kigali on 17 October at the Kigali Convention Centre, Kigali, Rwanda. “It is a great honour for His Excellency Paul Kagame
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IFC Invests $50 Million into LeapFrog Emerging Market Private Equity Fund
IFC announced an investment in a new fund by LeapFrog Investments, one of the largest private equity groups dedicated to impact investing in emerging markets, to improve fast-growing health and financial services firms’ access to growth capital and support job
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Increasing Usage of eKYC in Africa
In the first half of 2023, businesses in Africa embraced digital transformation at a fast pace, fueling demand for innovative e-KYC verification solutions. This is evidenced by the surge in activity observed by Smile ID, the identity verification solutions provider
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Financial Inclusion Improves in Tanzania, Facilitated by Mobile Money
In Tanzania, financial inclusion is improving at a rapid pace, facilitated by the proliferation of mobile phones and a significant uptake in mobile money services usage in the country, a 2023 study by Financial Sector Deepening Tanzania (FSDT), a local
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