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Digital transformation has accelerated the adoption of e-commerce platforms in Africa. While the majority of African populations are still unbanked, fintech and mobile payment platforms present themselves as alternatives. The Kenyan telecommunications operator Safaricom and Visa Inc launched, on Thursday June 2, a virtual payment card. The M-Pesa GlobalPay Virtual Visa Card will allow users of M-Pesa,...

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MTN Nigeria has announced that its Fintech subsidiary MoMon Payment Service Bank (PSB) has formally begun operations. The operator released a statement notifying the Nigerian Exchange and investors of the development, adding that it follows a successful pilot initiated on 16 May 2022 “in commemoration of the launch of our GSM operations on 16 May...

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As more African countries introduce taxes on mobile money and digital services, the GSMA representative grouping of global mobile operators is encouraging dialogue between operators and governments to promote digital inclusion and economic growth. Mobile money and digital finance platforms have helped drum up financial inclusion across Africa. However, taxes on mobile money and electronic...