Bankit MFB, founded by Yen Choi, on Thursday launched an innovative web banking platform to enhance Nigerians’ banking experience. This new platform allows customers to conduct transactions seamlessly using their phones and laptops, ensuring 24/7 access to financial services. Read also: Algeria to launch DZ Mob Pay to simplify payments, drive digital growth Empowering customers […]

Al Mohandes Insurance Company and Al Ahly Momkn have inked a strategic agreement, marking a major step towards driving digital transformation in the Egyptian insurance industry. The collaboration, which was announced on Wednesday, intends to improve electronic payment services, providing insurance customers nationwide with a smooth and safe payment experience. Per the agreement, Al Mohandes […]

Algeria is introducing DZ Mob Pay, a mobile electronic payment system designed to make everyday financial transactions easier for citizens and retailers. Announced on Monday, December 30, 2024, by the Groupement d’Intérêt Économique de la Monétique (GIE Monétique), the service will be available in January 2025 and implemented by banks and Algérie Poste. Read also: […]

The Central Bank of Egypt (CBE) has announced an increase in the maximum transaction limits for financial inclusion accounts which cover withdrawals, outgoing transfers, debit operations, and purchases. For accounts intended to promote financial inclusion, the CBE increased the maximum withdrawal limits by 50 percent for purchases, debit transactions, outgoing transfers, and total withdrawals, as […]

Flend, a trailblazing digital financing platform that focuses on small, emerging, and medium-sized businesses (SMEs) has secured a licence from the Egyptian Financial Regulatory Authority (FRA) to operate as a digital SME financing institution, thereby becoming the first digital non-bank financial institution (Digital NBFI) in Egypt to accomplish the historic milestone. According to a statement […]

The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have approved FCMB Group’s N147 billion rights offer,as confirmed in a statement released on Monday by Olufunmilayo Adedibu, the company secretary. This was the CBN’s second approval in days for the first tranche of banks’ capital-raising efforts this year. The offer was […]

Ecobank Group, a leading private pan-African banking company and African Export-Import Bank (Afreximbank), a pan-African multilateral financial organisation established to support and encourage trade both within and outside of Africa have partnered to integrate Ecobank’s Single Market Trade Hub and Afreximbank’s MANSA Digital Repository Platform to streamline trade and compliance for African firms. The announcement […]

In recent weeks, two African fintech giants, TymeBank and Moniepoint, have achieved unicorn status, raising over $1 billion and redefining the continent’s digital banking landscape. These innovators are transforming banking for millions of individuals and businesses across Africa’s largest economies. TymeBank began by offering low-cost bank accounts and savings products to retail clients before expanding […]

The federal government has accused the Central Bank of Nigeria (CBN) of mismanaging N2.73 trillion in interest payments from Ways and Means advances, raising serious concerns over inconsistencies in the handling of government finances. Under reference number AuGF/AR.2021/01 and dated July 31, 2024, the Auditor-General, Shaakaar Chira, submitted to the National Assembly the Federal Government’s […]

The Bank of Zambia has launched the Stability and Resilience Facility (SRF) to protect financial stability and strengthen the resilience of the financial sector following the 2023–2024 drought. According to a statement released on Friday, the bank will open an SRF Access Window on Monday, December 30 with K5.0 billion (Kwacha five billion only) in […]

Sterling Financial HoldCo has received approval from the Central Bank of Nigeria (CBN) for its N75 billion capital increase. The approval, announced on Friday, finalises the company’s capital infusion, which began with a private placement in September 2024. Sterling HoldCo initiated a rights issue in October 2024, offering current shareholders the opportunity to increase their […]

Visa and Naps announced a strategic partnership on Friday to promote financial inclusion and fast track the implementation of digital payments in Morocco. This partnership aligns with Naps’ mission to make electronic payments accessible to the Moroccan populace. This alliance intends to modernise payment methods and assist the Moroccan economy’s digital shift by fusing Visa […]

Ethiopia has entered a new era in financial innovation with the launch of Ansar Digital Financing, the country’s first fully Sharia-compliant digital financing service. Developed by ZamZam Bank in partnership with Kifiya Financial Technology, this initiative addresses financial inclusion challenges by targeting underserved groups, including Micro, Small, and Medium Enterprises (MSMEs), women entrepreneurs, and informal […]

Safaricom’s M-PESA and Nyala Insurance S.C. (NISCO) have partnered to provide the Ethiopian insurance industry with secure, seamless and convenient mobile payment solutions at the Memorandum of Understanding ceremony, held at the M-Pesa office on Friday. This partnership will enable NISCO’s customers to use M-PESA’s digital solution platform to expedite seamless premium payments, policy renewals, […]

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have granted Access Holdings Plc full regulatory approval for its recently concluded Right Issue of 17,772,612,811 ordinary shares of 50 kobo each at N19.75 Kobo per share (the “Rights Issue”), raising the target amount to N351,009,103,017.25, the company announced on Tuesday. This […]

PostBank Uganda and Western Union announced on Tuesday the launch of international money transfers through the Wendi mobile wallet. The co-branded digital service would enable Ugandan consumers to send and receive money around the world. PostBank Uganda’s cutting-edge digital wallet, Wendi, allows users to effectively manage and transfer money straight from their smartphones and feature […]

The Central Bank of Nigeria (CBN) is launching a new whistleblower platform on January 1, 2025, as part of its initiative to promote transparency, integrity, and accountability within the country’s financial sector. The platform will provide a safe space for individuals to report unethical behavior, legal violations, and professional misconduct, with a focus on protecting […]

Visa and Attijariwafa Bank have partnered strategically to improve Morocco’s digital payments ecosystem and bolster the bank’s leadership in technical innovation. “We’re excited to announce our partnership with Attijariwafa Bank to shape the future of payments in Morocco. This strategic alliance combines Visa’s cutting-edge expertise with Attijariwafa bank’s pioneering vision to set new standards of […]

GCB Bank PLC, has introduced the special GCB Visa Infinite and Visa Signature cards in collaboration with Visa, a world leader in digital payments. This was announced by the Ghana’s largest commercial bank on Saturday. By providing a first-rate and easy banking experience, this partnership seeks to satisfy the changing needs of Ghana’s professionals, entrepreneurs, […]

Visa International and BCP International (BCPI), a division of the pan-African Banque Centrale Populaire (BCP) Group, have formed a strategic alliance to revolutionise the Sub-Saharan African payment landscape. The collaboration, announced on December 12, represents a critical turning point in the growth strategy of BCP Group, which has 16 banking subsidiaries spread throughout 14 Sub-Saharan […]