All merchant POS terminal fees for card payments nationwide have been eliminated by the Bank of Tanzania as of December 23, 2024, to promote digital payments. The order forbids fees on prepaid, credit, and debit transactions, with merchant compliance being monitored by public monitoring systems in Tanzania’s payment network. Read also: Bank of Tanzania to […]

Plume Network and Busha, Nigeria’s first SEC-licensed digital asset exchange and top stablecoin on-ramp, announced a strategic partnership on Friday to provide Plume Nest’s state-of-the-art on-chain yield protocol to around one million Busha customers. Plume Network and Busha’s neo-banking application will work together to provide safe and easy access to financial growth prospects in one […]

PlanetTalk, a subsidiary of Wavecrest Networks Limited, announced today a major update to its app aimed at making international transfers easier for Nigerians. This innovative platform allows users to send mobile top-ups, pay utility bills, and make affordable international calls in one place. Read also: Traddify introduces payment solutions to simplify cross-border transactions Connecting families […]

Mastercard and Dgpays, a prominent fintech company, have established a strategic agreement aimed at expanding the usage of digital payment solutions for businesses and consumers in Eastern Europe, the Middle East, and Africa (EEMEA). In a statement released on Thursday, Mastercard and Dgpays will collaborate to create cutting-edge payment systems and loyalty programs that are […]

The Bank of Zambia has notified the general public and business community that, effective June 24, 2026, cheques will no longer be accepted as a form of payment in the country. The Central Bank announced the decision in a circular dated December 20, 2024, and signed by the Bank of Zambia’s Assistant Director of Communications. […]

Bureau de Change (BDC) operators have been temporarily authorised by the Central Bank of Nigeria (CBN) to buy up to $25,000 worth of foreign exchange (FX) every week from the Nigerian Foreign Exchange Market (NFEM). The purpose of this action, which is described in a circular dated December 19, 2024, is to satisfy the seasonal […]

A fresh crisis is looming between investment bank Genghis Capital and Safaricom regarding M-Pesa-backed unit trusts, following a fallout over the launch of Safaricom’s new Ziidi Money Market Fund with new partners. Meanwhile, Safaricom’s previous Mali fund, developed in collaboration with Genghis, has amassed Sh3.1 billion in assets. Read also: M-PESA makes waves in Kenya […]

Global remittance platform Traddify has launched improved payment solutions with new features in Nigeria to make cross-border money transfers quicker, safer, and more convenient for individuals, companies, and SMEs. This development was announced by Traddify on Friday. The need for effective cross-border payment systems has never been higher due to Nigerians’ increasing participation in international […]

Paymob, a leading fintech innovator in the Middle East North Africa (MENA) region, has launched Apple Pay acceptance for its network of merchants in Egypt, marking a significant milestone in the country’s digital payment ecosystem. This move coincides with Apple Pay’s official debut in Egypt, offering consumers a secure, contactless payment option via iPhones, iPads, […]

Mozambique is advancing its tourism sector with new tax regulations targeting international digital platforms like Booking and Trivago. These platforms, which facilitate accommodations and other tourism-related services in Mozambique, currently earn commissions without contributing to the country’s tax revenue. The proposed regulations aim to bridge this gap, ensuring that revenue generated within Mozambique bolsters national […]

Sourcefin, a South African fintech company, raised $8.2 million (ZAR 150 million) in funding from Futuregrowth Asset Management, according to a statement on Wednesday. This significant investment aims to enhance access to financing for small and medium-sized enterprises (SMEs) in South Africa, a sector crucial for economic growth and job creation in the region. Read […]

The Central Bank of Nigeria (CBN) announced a significant policy regulating cash transactions through Point-of-Sale (POS) agents on Tuesday.  This initiative introduces a daily cash-out limit of N100,000 per customer, reinforcing the CBN’s commitment to a cashless economy while addressing fraudulent activities in agency banking. Read also: CBN to fine banks N150 million for selling […]

Flutterwave announced on Wednesday that users can now accept payments via the Central Bank of Nigeria (CBN)’s first National Domestic Card Scheme, AfriGo. This development will simplify payments for clients and open up new business prospects. Due to AfriGo’s expanding user base, more Nigerian clients are now provided with extra payment options, which will increase […]

Bamboo, a Nigerian fintech company, dominated headlines on Tuesday after securing a U.S. broker-dealer licence through its affiliate, Bamboo Securities LLC.  This landmark achievement positions Bamboo as the first financial organisation from Nigeria to offer Africans direct access to U.S. securities. It enables corporate clients and licensed brokers across Africa to facilitate investments in the […]

Ethiopia’s parliament on Tuesday passed a new law which officially opens the nation’s banking sector to foreign investments for the first time to boost economic growth, encourage innovation, and increase competitiveness. The new legislation titled “Banking Business Proclamation” marks a historic step towards banking sector liberalisation and a turning point for one of Africa’s biggest […]

The Securities and Exchange Commission (SEC) has registered First Bank’s subsidiary, First Nominees Nigeria Limited, as Nigeria’s first nominee company in the capital market, effective November 22, 2024. First Nominees Ltd has become a full-fledged capital market operator with its registration, according to a statement released on Tuesday. To the advantage of its customers, this […]

African telecommunications giant MTN has announced plans to acquire a banking license in South Africa to enhance its financial services.  This decision, made public on December 16, 2024, comes as the South African Reserve Bank (SARB) prepares to open its national payments system to fintechs and non-banking entities. Read also: MTN, GTBank, Air Peace probed […]

The Central Bank of Nigeria (CBN) has threatened to impose a N150 million fine on any bank found culpable of selling mints currency notes to currency hawkers and “unscrupulous economic agents,” adding that the fine will be collected per branch. CBN issued the threat in a circular signed by Mohammed Olayemi, the Acting Director of […]

Following the Central Bank of Egypt (CBE) and Mastercard partnership to introduce Apple Pay in the banking sector, several major Egyptian banks have implemented card tokenisation services through Apple Pay. This aligns with CBE’s regulations for card tokenisation technology, introduced in February 2023. Commercial International Bank (CIB), Banque Misr, and National Bank of Egypt are […]

In partnership with the Central Bank of Egypt (CBE) and the Egyptian Banks Company (EBC), Mastercard offers Apple Pay to Egyptian consumers, offering a more private, secure, and safe method of making payments online, in-app, and in-store. This new development was revealed on Mastercard’s news blog on Thursday. Read also: BCP Group partners Mastercard to […]