A system upgrade by Zimbabwe’s biggest mobile money service has left cash-strapped consumers and businesses unable to transact, causing severe disruptions.
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South Africa’s Mergence Group has bought a 26% stake in local customer reward start-up 2Engage as part of global expansion plans targeting retail consumers.
Nigeria vies with South Africa as the continent’s largest economy and is its most populous, but it’s a “sleeping giant” in the world of fintech.
Zimbabwe’s central bank has clamped down on mobile money, banning the purchase and sale of cash through the services.
Independent card payments provider Yoco’s move into granting loans to its small business customers is paying off.
South African point-of-sale payments provider Yoco is launching a new, lower-cost POS terminal as it looks to double its customer base from 50 000 to 100 000 in the next year ahead of a further fundraising round.
The relatively new South African stock exchange ZAR X has launched what it’s calling the country’s first distributed settlement system for unit trusts.
MTN South Africa is making “good progress” in its plans to relaunch mobile money services in South Africa, according to group CEO Rob Shuter.
African telecommunications authorities must walk a fine line when it comes to regulating the move of mobile operators into financial services.
Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, people familiar with the matter said.