Chapa, an Ethiopian fintech, has teamed with Safaricom M-Pesa Mobile Financial Services to offer M-Pesa services through its payment aggregator platform. The companies announced the yesterday, saying that it will make transactions easier for both merchants and M-Pesa clients in the Ethiopian market. Since its launch a few months ago, M-Pesa, Africa’s largest fintech platform,...
The amount, which shows spending between January and September 2023 was recorded in the financial statements of the top two telecoms, MTN Nigeria and Airtel Africa and indicates a 32.57% rise from the ₦1.95 trillion recorded from income sources of both companies in the corresponding period of 2022. According to the report, Airtel’s data subscription...
These figures reflect the growth of mobile finance in Gabon as an alternative to the traditional banking sector. Concentrated in the urban centers of Libreville, Port-Gentil and Franceville, banks struggle to reach low-income customers from regional and remote areas. The growing penetration of mobile telephony allows mobile finance to solve this accessibility problem. The latest dashboard of...
Telkom’s wholesale subsidiary, Openserve, has signed a number of agreements with Google that have secured the company a 15-year revenue pipeline worth nearly R1-billion. The agreements relate to Google’s acquisition of the right of use to a number Openserve’s facilities, including a cable landing station, 50% of terrestrial network capacity along South Africa’s border with Botswana,...
For the moment, the Cameroonian public telecoms operator Camtel is allied with its competitors MTN and Orange to make payments for its bills and packages via mobile money. Camtel (Cameroon Telecommunications), historic telecoms operator in Cameroon, is moving towards the launch of ”Blue Money”, its mobile money service. The public company has launched an international call...
MTN South Africa’s chief financial services officer, Bradwin Roper, has lauded the advances of mobile money, citing the technology’s ability to help the unbanked as well as migrants. Roper discussed the progress of MTN’s Mobile Money (MoMo), which has over 8 million registered members in South Africa and has been exported to 17 other African...
Committed to promoting financial inclusion in Africa for more than three years in Ivory Coast, Orange Bank Africa (OBA), announces its expansion in Senegal. According to the World Bank, financial inclusion indicators in Africa remain below the global average. In fact, only 35% of the population has a bank account, 15.4% saves with financial institutions and...
The Ethiopian mobile money market is shared between the M-Pesa services of Safaricom and Telebirr of the historic operator Ethio Telecom. Launched in May 2021, this latest platform had, as of June 30, 2023, 34.3 million users. The National Bank of Ethiopia (NBE) on Monday (October 9) issued a new directive on the issuance of payment...
MTN Nigeria reaffirms commitment to expand critical infrastructure and promote digital and financial inclusion with government partnerships. MTN Nigeria reaffirms dedication to bolstering vital infrastructure and advancing digital and financial accessibility in Nigeria. The successful contribution to the Enugu-Onitsha Expressway’s completion under the Road Infrastructure Tax Credit Scheme (RITC) underscores this commitment. The company remains...
Digital payment services are growing in Zambia. In 2022, mobile money transactions reached a value of 170 billion kwachas in the country compared to 95 billion kwachas in 2021. The Zambian government is considering introducing a tax on mobile money transactions. The proposal was made last week by Situmbeko Musokotwane, Minister of Finance and National Planning, during...
