Mastercard partners with EMIS to boost the digital economy in Angola
Mastercard partners with EMIS to boost the digital economy in Angola
Mastercard has entered a strategic partnership with the Empresa Interbancária de Serviços S.A (EMIS) to roll out a co-branded contactless card with EMV technology to boost the digital economy and accelerate digital transformation in Angola.
Also known as the Interbank Service Company, EMIS is the financial infrastructure operator of the Angolan Payment System, responsible for the interbank network for the network of ATMs and Point-of-Sale (POS) terminals. It is also the clearing house for banks' direct debit and funds transfer operations, and a Mobile Virtual Process Operator (MVPO) in Angola... read more
IFC’s base of the pyramid platform provides $1 billion to expand access to finance for small businesses
IFC, a member of the World Bank Group, announced a $400 million increase and one-year extension of the Base of the Pyramid (BOP) platform – an initiative first launched in 2021 to help financial services providers deliver critical funding to small and informal businesses, and low-income households.
The additional financing, which brings IFC's total investment to $1 billion, will ensure much-needed liquidity for lenders in the most vulnerable markets and expand support to underserved segments of the population, including women and women-owned businesses... read more
India commits $2 million as new partner in Africa Digital Financial Inclusion Facility
The Indian government will contribute $2 million to the Africa Digital Financial Inclusion Facility (ADFI) housed and managed by the African Development Bank, affirming its commitment to help break down barriers to the growth and uptake of digital financial solutions and accelerate financial inclusion in Africa.
Globally recognised for the success of its digital public payments system that has transformed governance, financial inclusion and resilience for millions of people nationwide, India’s collaboration with ADFI enables the facility to learn from best practices and help scale up initiatives to meet the needs of financially excluded and underserved people in Africa... read more
[Column] NJ Ayuk: Natural gas represents tremendous opportunities for Africa — we must seize them now
Although Africa’s natural gas production is expected to remain relatively flat over the next two years — increasing only slightly, from 268 billion cubic meters (bcm) today to 272 bcm in 2025 — there’s room for optimism about the continent’s potential, according to the African Energy Chamber’s (AEC) “The State of African Energy Q1 2023 Report.”
For Africa to move forward and grow its natural gas output, a two-pronged approach is required: Gas producers must continue to pump from existing fields while countries with new discoveries must get these undeveloped projects to the final investment decision (FID) stage as quickly as possible... read more
Nigerian mobility fintech Moove secures $76m funding for global expansion
Moove, the Nigerian mobility fintech has secured $76 million in new funding, consisting of $28m in equity from new and existing investors. The funding comes just two months after the startup raised another $8 million in financing from Absa Corporate and Investment Banking (CIB),
This latest round of funding was led by Mubadala Investment Company (Mubadala), $10m venture debt from funds and accounts managed by BlackRock, and $38m in previously undisclosed funds raised during the prior twelve months, Moove said in a statement... read more
United States and Tanzania announce a $24 million food security project
During this year’s Nane Nane event in Mbeya, the United States government and the United Republic of Tanzania announced USAID’s new food security activity Tuhifadhi Chakula (“Let’s Save Food”), a five-year, $24 million initiative to be implemented by the Tanzania Horticulture Association in partnership with the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) Center.
By targeting and reducing food loss and waste, the USAID Tuhifadhi Chakula project will increase food security, improve livelihoods, increase employment, and generate export opportunities for Tanzania – especially among women and youth... read more
[Column] Pieter Roux: How Scan to Pay is unleashing the power of QR code payments in South Africa
The QR code payment industry has seen a surge in adoption in recent years, with estimates suggesting a global market value of USD$9.98 billion in 2022. QR codes are seeing a marked increase in popularity in South Africa as well, says Pieter Roux, President Payment Strategy at Ukheshe.
From the brand evolution of Masterpass to Scan to Pay, Powered by Ukheshe, our Scan to Pay data shows a growing demand for mobile payments as more consumers use their mobile devices – from entry-level devices to high-end smartphones – for payments with an average of 12 million transactions per month... read more
[Column] Frida Frans: The impact of coup d’état on trade agreements and economic stability in West Africa
The recent series of coup d'état incidents in West Africa has resulted in significant political upheaval across the region. These prominent coups occurrences in Mali, Guinea, Burkina Faso, Niger are characterized by sudden and often forceful changes in leadership. At times they have highlighted the intricate challenges faced by various West African countries, involving adept power transitions and upholding democratic values.
This situation has created a scenario where nations implement security-driven measures such as border closures and trade limitations. These actions disrupt the movement of goods and people across borders, impacting supply networks and essential commodities. As a result, these occurrences carry significant ramifications for trade, regional integration initiatives, and the broader economic advancement... read more
Kenyan healthtech startup Zuri Health secures additional investment from Marula Square
Zuri Health, a Kenyan healthtech startup, has secured additional investment from Marula Square, a venture capital firm investing in visionary entrepreneurs across Africa. This strategic investment marks a significant milestone in the company's growth trajectory and sets the stage for crucial advancements in healthcare technology. It comes just a few weeks after the startup raised an undisclosed amount from Five35 Ventures, an early-stage venture capital firm investing in female-focused startups in Africa... read more
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Nigerian mobility fintech Moove secures $76m funding for global expansion
Nigerian mobility fintech Moove, has secured $76 million in new funding, consisting of $28 million in equity from new and existing investors. The funding comes just two months after the startup raised another $8 million in financing from Absa Corporate and Investment Banking (CIB).
This latest round of funding was led by Mubadala Investment Company (Mubadala), $10m venture debt from funds and accounts managed by BlackRock, and $38 million in previously undisclosed funds raised during the prior twelve months, Moove said in a statement... read more
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