Mobile money is fast blossoming in Africa, boosted by rising mobile adoption across the continent, but in Zimbabwe—which is battling a severe financial crunch—the most common cash-in and cash-out functionalities have just been killed off as the government battles to contain the country’s economic crisis. Cash-out is process of converting mobile wallet balances into hard cash while...

Shares of MTN Group recovered from their biggest decline in more than five months to close little changed in Johannesburg trading as Nigeria’s government urged a Lagos court not to block a US$2-billion penalty it imposed on the mobile carrier for allegedly evading taxes. The high court of Lagos should throw out the Johannesburg-based company’s attempt...