News
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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Addpay and Wiseasy Unveil Game-Changing Android Payment Solutions
In a pivotal moment that heralds a transformative era for African fintech, cutting-edge Android payment devices are reshaping the paradigm of in-store and forecourt transactions. These technologically advanced devices, meticulously crafted and supplied by Wiseasy, bear the AddPay brand, setting
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5 Agri-Fintech Startups from Africa to Know
In recent years, the emergence of agritech and fintech providers in East and Southern Africa (ESA) has brought about innovative solutions designed to address the needs and challenges of smallholder farmers and underserved groups. A new report released in May
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