The South African Reserve Bank is studying the benefits of issuing a digital currency for general retail purposes, it said on Tuesday, in line with several other central banks.
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MTN Group has partnered with the International Finance Corporation to train mobile money agents across South Africa to target unbanked and underbanked segments of the population.
Safaricom of Kenya is holding talks with Amazon.com about the use of mobile money service M-Pesa on the e-commerce giant’s platform.
Paystack, the fintech start-up acquired last year by US fintech major Stripe, is establishing a presence in South Africa as it looks to cement its position as a significant player in the African online payments industry.
Fintech companies in Africa raised more capital in 2020 despite the Covid-19 pandemic, standing in contrast to their emerging market peers such as Latin America that saw a decline.
Christo Davel, the co-founder of the 22seven personal financial management platform acquired by Old Mutual in 2013, is joining Direct Transact as chief commercial officer.
Nedbank, working with Mastercard and South African fintech player Ukheshe, has launched the ability for banking clients to make payments to businesses in messaging platform WhatsApp.
Nigerian banks are only now starting to counter the emerging fintech firms riding the online wave spurred by the pandemic. They’re also deploying their political muscle with regulators.
Mastercard will invest $100-million in Airtel Africa’s mobile money operations, valuing the business at $2.65-billion, the London-listed company said on Thursday.
Fintech company Flutterwave has teamed up with US payments giant PayPal to enable PayPal customers to pay African merchants through its platform, the Africa-focused payments firm said on Tuesday.