The Kenyan government has taken action to halt Worldcoin, a cryptocurrency project, from signing up new users in the country due to data privacy concerns. Founded by US tech entrepreneur Sam Altman, Worldcoin offers free crypto tokens to individuals who consent to have their eyeballs scanned, attracting thousands of Kenyans who have queued up to…
Mastercard and Lipa Later Group have joined forces to expand the Buy Now, Pay Later (BNPL) solution across the African continent. Through this strategic partnership, the two companies aim to provide flexible financing options to empower individuals and businesses, promote financial inclusion, and drive sustainable economic growth in Africa. Mastercard’s extensive network of merchants and…
The rise of financial technology (fintech) companies has disrupted the traditional banking landscape, challenging traditional banks to adapt and innovate to remain competitive. Fintechs offer customer-centric, technology-driven solutions that cater to the evolving needs and preferences of today’s consumers. To compete effectively, banks must embrace digital transformation, prioritize customer experience, and forge strategic partnerships. Let’s…
Safaricom has officially introduced the zero-interest credit service called “Faraja,” which allows customers to purchase goods valued at up to Sh100,000 on credit. Initially, the financial regulator had blocked this service, but now it’s set to shake up the mobile loans market, challenging products like Fuliza, a mobile overdraft service offered on M-Pesa. Faraja enables…
Kenyan fintech company, Boya Inc, has teamed up with VISA and Diamond Trust Bank – Kenya to introduce a virtual expense card that will facilitate seamless payment and expense management for businesses, all at no cost. Boya’s platform is designed to revolutionize expense tracking and reporting for businesses of all sizes, providing them with unmatched…
MTN Uganda has introduced an innovative mobile-based platform called the FMCG Digital Suite, designed to streamline the supply chain process for businesses in the Fast-Moving Consumer Goods (FMCG) industry. This platform enables businesses to place orders, generate invoices, make payments, and collect returns in real-time, all through a mobile interface. The FMCG Digital Suite, developed…
Chipper Cash, an African cross-border fintech startup, has enabled Rwandans to send money directly to mobile money and bank accounts in over 21 countries in Africa and the United States. This significant development was announced during the Inclusive Fintech Forum in Kigali, where Chipper Cash revealed its customer base of over five million across Africa….
Activities included Financial Literacy Tours in universities and a canvassing campaign which involved Yellow Cards Brand Ambassadors engaging with individuals across major cities
