For the past two weeks, investigative journalist Egesa Ronald Leonard through his X account @regesa has been shedding light on a concerning issue plaguing Uganda’s financial landscape. In collaboration with financial crime investigation agencies from the UK and US, his campaign #IllegalOnlineApps has uncovered the troubling findings from StratEdge Consulting, revealing the dark world of…
In a significant milestone for Watu Kenya and Watu Uganda, the esteemed MFR Certification Committee awarded them the Bronze level Client Protection Certification last week. This achievement underscores their steadfast dedication to responsible lending practices, prioritizing customer protection, and maintaining the highest industry benchmarks. The attainment of this certification stands as a testament to the…
In an era marked by increasing globalization and interconnected economies, East Africa is no exception to the growing need for cross-border banking solutions. However, various challenges have hindered seamless financial transactions across borders in the region. In this article, we’ll explore the cross-border banking challenges faced in East Africa and shed light on the innovative…
In recent years, the financial landscape has undergone a profound transformation, driven by the relentless rise of fintech startups. These innovative and agile companies have rapidly carved out a space for themselves, challenging and reshaping the traditional banking sector across the globe. In East Africa, this disruption is particularly evident, with fintech startups making a…
Cellulant, a payments firm, is preparing to lay off 20% of its workforce as part of a restructuring effort aimed at transitioning to a learner-product-led organization. The fintech company is set to implement the workforce reduction in the near future. The CEO of Cellulant conveyed the company’s intention to enhance operational efficiency through initiatives like…
In the dynamic landscape of digital lending, M-Shwari, a mobile lending platform owned by NCBA Group, has secured a commanding 34% market share, making it the leading player in the sector. This revelation comes from data provided by the Competition Authority of Kenya (CAK), shedding light on the evolving digital credit landscape in the country….
In the ever-evolving landscape of technology, Artificial Intelligence (AI) stands as a game-changer, ushering in transformative shifts that redefine how businesses operate and engage with customers. At the forefront of this dynamic wave, Chipper Cash is harnessing the power of AI to reshape the way we connect, create, and innovate. If you’re eager to delve…
Mastercard Inc, a leading payment processor, has entered into an agreement to acquire a minority stake in the fintech division of MTN Group Ltd. The CEO of MTN, Ralph Mupita, has confirmed ongoing negotiations for this investment, as reported by Bloomberg. The bedrock of MTN’s fintech initiatives centers around its mobile money offering, MoMo, which…
Michael Atingiego, the Deputy Governor of the Bank of Uganda, has urged the attendees at the Annual Bankers’ Conference to reflect on thought-provoking concepts such as “banking hours.” The remarks were made as he addressed the gathering under the conference’s theme, “Trends and Innovations in FinTech Changing the Face of Banking and Financial Service.” He…
In the dynamic landscape of business expansion, the choice between debt and equity financing becomes a pivotal decision that shapes the trajectory of a company’s growth. Both avenues offer distinct advantages and trade-offs, each catering to different needs and aspirations. Understanding the nuances of debt and equity financing is essential for entrepreneurs seeking to fuel…
