Mobile Money Archives - Extensia-ltd

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More Africa NewsTigo, Selcom and Mastercard partner to launch online digital payment solution in Tanzania

March 23, 2023by myles0

Dar es Salaam, Tanzania, 22 March 2023: Tigo Tanzania, Selcom and Mastercard Inc. have announced a strategic partnership that will see the three industry leaders revolutionize the digital payment ecosystem by enabling convenient online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service (CaaS) platform. This partnership will empower Tigo Pesa customers to transact on global...

More Africa NewsAirtel Africa To Revamp Mobile Money Business With $750m

March 20, 2023by myles0

Airtel Africa has disclosed its intention to roll out $750 million in capital expenditure this year to ramp up its mobile-money business across the continent as part of efforts to sustain investment in infrastructure. The telecom giant with mobile divisions in 14 countries shared this via a media chat. Similarly, the group chief executive officer...

More Africa News Safaricom Ethiopia announces MoU with major bank

March 8, 2023by myles0

New arrival in the market – and now the second national operator in the country – Safaricom Ethiopia and Commercial Bank of Ethiopia have signed an MoU. The MoU, signed last week, outlines a strategic partnership to utilize the potential of the institutions’ capacities and enhance the financial service delivery of the Bank to jointly...

More Africa NewsEthio Telecom bullish on mobile money strategy

March 7, 2023by myles1

Ethio Telecom CEO Frehiwot Tamru expressed confidence in the state-owned operator’s ability to remain a market leader while highlighting milestones the company made in its mobile money platform Telebirr, and repeating its ambition to transact half of Ethiopia’s GDP. Speaking at Mobile World Congress, Tamru highlighted the operator’s coverage rate of 99.1%, the high population...

More Africa News Ethiopia prices mobile money licence at $150m

February 22, 2023by myles0

Ethiopia has reportedly publicised a demand of US$150 million from Safaricom for the operator to deploy its M-Pesa mobile money platform in the country, with talks to be held this week. A document published by the National Bank of Ethiopia, read: “A foreign national applicant shall present evidence for the payment of $150 million or...

More Africa NewsUganda: Govt Washes Its Hands of High Mobile Money Charges

February 17, 2023by myles0

Government has defended itself on the high charges while members of the public transaction on mobile money. “The tax on mobile money transaction is 0.5% on withdrawals. It means that if you are withdrawing 100,000 the tax charge is shs500 and shs10,000 it is shs50. On every mobile money transaction, there is a cost of...

More Africa NewsKenyan authorities uncover major mobile money fraud

February 16, 2023by myles0

Kenya’s Directorate of Criminal Investigations (DCI) has arrested eight men who are alleged to have been part of a criminal ring that defrauded mobile money users of over KES 500-million. According to investigators, the suspects gained access to the National Registration Bureau, which hosts identification information that was then used to register mobile SIM cards....

More Africa NewsEthiopia: Ethio Telecom and the Ministry of Revenue sign an agreement to collect taxes via Telebirr

February 8, 2023by myles0

Telebirr was launched in May 2021. The platform attracted four million people in a few weeks and currently has more than 28 million users. Other mobile money services should soon enter the Ethiopian telecom market, which is in full liberalization. Ethiopian citizens will now be able to pay their taxes using Telebirr, the digital payment platform...

More Africa NewsMama Money banks on TNM to expand service in Malawi

February 8, 2023by myles0

South Africa-based Fintech Mama Money has formed an alliance with Malawian telecommunications and mobile money operator TNM to roll out services in the country. Mama Money customers will be able to send money to any TNM Mpamba account for cash collection at over 40,000 locations across Malawi. Research by Finmark Trust estimates that the monthly...

More Africa NewsIvory Coast’s rural mobile money agents under threat

January 30, 2023by myles0

Ivory Coast’s digital finance market is unsettled as disruption by Senegalese mobile money platform Wave Mobile threatens to put rural mobile wallet agencies out of business. An agent who has set up operations in Abidjan said: “We are losing business and have to venture into other business lines to ensure revenue flows sustain our costs...

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