Nigeria’s central bank said it will grant more licences for payment service banks but set a minimum capital base that could deter telecommunications firms and some other potential new entrants.
Econet Wireless is imposing restrictions that limit the size and range of transactions on its mobile money platform to comply with an order from the Reserve Bank of Zimbabwe.
Telkom Financial Services managing executive Sibusiso Ngwenya joins the TechCentral podcast to unpack the news at the weekend that the company is launching a range of financial services products.
Telkom has branched into the competitive space of financial services by launching a life insurance business that it said will initially sell funeral insurance.
Zimbabwean finance minister Mthuli Ncube doesn’t see a quick resolution to the country’s battle with its most successful company.
Four years after pulling the plug on its M-Pesa platform in South Africa, Vodacom is having another go at fintech and mobile payments in its biggest market, this time in partnership with Chinese’s Ant Financial.
Econet Wireless on Monday sought a court order to suspend a police warrant seeking information on its transactions because this would violate the privacy of the company and millions of its subscribers.
Zimbabwe’s police have accused Econet Wireless, the country’s dominant mobile phone company, of money laundering, demanded a list of its subscribers and issued a search warrant against it.
Another South African is making headlines in the US. Pierre Naudé is the CEO of the global fintech company nCino, which listed on the Nasdaq stock exchange on Tuesday.
Zimbabwe’s security force leaders sidelined the nation’s economic chiefs and forced the government to issue an order to close the stock exchange and halt most mobile money transactions, sources say.