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Mastercard and Safaricom have partnered to improve payment acceptance and cross-border remittances in Kenya. The partnership will benefit over 636,000 merchants using M-Pesa and enable them to serve customers globally. This collaboration will provide faster and more reliable payment solutions for Kenyan businesses and their customers. Streamlining Cross-Border Transactions The multinational payment card services corporation, … Read more
Tanzanian fintech startup Nala recently secured $40 million in a Series A funding round led by San Francisco-based venture capital firm Acrew Capital. The funds will be used to bolster Nala’s business-to-business (B2B) payment platform and support its overall growth plans. New Funding to Support Nala’s Growth Plans Tanzanian fintech startup Nala recently secured $40 … Read more
A Nigerian startup specializing in blockchain-based payments and remittances has entered into a partnership arrangement with the stablecoin issuer Tether. The arrangement is expected to extend the benefits of stable digital transactions to a larger number of consumers and businesses across the African continent. Ivorypay, Tether Partnership Aims to Boost User Confidence Ivorypay, a Nigerian … Read more
Two Zimbabwean startups, Flexid and Uhuru Wallet, recently launched a platform that offers digital identity and remittance services to migrants living and working in South Africa. The two startups hailed what they’ve described as the “first cross-chain collaboration between the two companies.” Harnessing the Benefits of the Blockchain The Zimbabwean blockchain startup Flex ID and … Read more
Rising cryptocurrency use in Africa over the past few years has not only shown that digital currencies are now a vital means of moving funds across borders and between people, but that cryptocurrencies are also an important means of accessing global markets for the financially excluded. Cryptocurrency Now a Necessity Despite ongoing efforts by regulators … Read more
The adoption of blockchain technology and the use of cryptocurrencies by people in Africa surged to unprecedented levels in 2020. While many have attributed this to Covid-19, blockchain advocates believe their work is partly the reason many are turning to digital currencies. Importance of Education Starting in the first quarter of 2020, the adoption of … Read more
According to findings from the Continental Migration Report 2021, remittances to African countries are projected to decrease from the $44 billion recorded in 2020 to $41 billion. The Covid Effect As expected, the Covid-19 pandemic is identified as one of the main causes of the decline. However, despite this projected 5.4 per cent drop, a … Read more
