Tag Archives: Financial Inclusion

AMA, Technology

Backbase and African Banker launch landmark report on the future of digital banking in Africa

MaraviPost

LONDON, United Kingdom, 8 August 2025-/African Media Agency (AMA)/- Backbase, the global leader in Engagement Banking, in partnership with the African Banker magazine, has launched the inaugural report in the Africa Digital Banking Experience Series 2025, a timely publication that explores the transformation of banking across the continent in an age of hyper-personalisation, AI integration, and financial inclusion.

The report “Retail banking: Competing for the modern African customer” is based on an exclusive survey of over 200 senior banking executives across 40 African countries. It provides a detailed, data-driven analysis of how African banks are shifting from traditional transactional models to AI-powered platforms that prioritise tailored customer journeys and operational efficiency.

Key findings from the report include:

  • Retail banking remains the main entry point for digital transformation, with 39% of banks prioritising it, followed by SMEs and corporate banking.
  • AI is becoming central to reaching the unbanked, with banks using alternative data and machine learning to de-risk credit and deliver scalable services beyond physical branches.
  • Operational efficiency, financial inclusion, and market share expansion are the top three digital priorities for African banks.
  • Banks are increasingly adopting omnichannel strategies, integrating online, mobile, and physical services to deliver seamless user experiences.

The biggest challenges remain digital literacy gaps (77%), cybersecurity concerns (55%), and limited internet access (52%), though all are expected to decrease with rising digital adoption and investment.

The report also features an in-depth case study of Mauritius Commercial Bank (MCB), showcasing how the Backbase Engagement Banking Platform enabled MCB to rapidly scale and launch new digital services, from SME banking to retail wealth apps, with high satisfaction scores and accelerated feature rollout.

Heidi Custers, Global Strategy & Transformation Director at Backbase said: “This report shows just how far African banks have come in rethinking the customer experience. What stands out is the shift from one-size-fits-all products to more thoughtful, data-driven services. It’s not about chasing trends—it’s about making digital banking work for real people, at scale.”

The full report is available for download now at https://www.backbase.com/insights/reports/african-digital-banking-report-competing-for-the-modern-african-customer

Distributed by African Media Agency (AMA) on behalf of Backbase.

About Backbase

Backbase is on a mission to re-architect banking around the customer. The company’s Engagement Banking Platform empowers financial institutions to accelerate their digital transformation and deliver frictionless, personalised customer experiences across all touchpoints. Founded in 2003 and headquartered in Amsterdam, Backbase supports over 150 financial institutions globally, helping them move beyond channel-based point solutions to true, customer-centric banking.

Learn more: www.backbase.com

About African Banker

African Banker is the continent’s premier publication dedicated to banking and finance. Published quarterly, it provides in-depth coverage and authoritative insights into the major developments shaping Africa’s financial sector, from fintech and policy reform to investment trends and executive leadership. As a trusted partner of leading institutions, African Banker convenes key stakeholders through its awards, summits, and special reports.

Press Contact

Backbase

Alexandros Papaioannou

press-relations@backbase.com

The post Backbase and African Banker launch landmark report on the future of digital banking in Africa appeared first on African Media Agency.

AMA

Lipaworld brings stablecoin-powered finance to South Africa’s informal economy

MaraviPost

JOHANNESBURG, South Africa, 31 July 2025/African Media Agency (AMA)/ WAs stablecoins gain global traction for their role in transforming cross-border payments, Lipaworld is helping bring this technology into everyday use across Africa. The venture-backed fintech platform has entered the South African market to support freelancers, immigrants, and informal businesses with faster, safer alternatives to conventional banking and remittance systems.

Unlike speculative crypto products, stablecoins such as USDC are designed for stability, pegged to the US dollar, and increasingly regulated across multiple jurisdictions. USDC is a stablecoin issued by Circle, the now NYC stock exchange-listed company. As a Circle alliance partner, Lipaworld leverages this infrastructure to create financial access tools that are simpler, cheaper, and more transparent, especially for those operating outside the formal economy.

With more than $2 trillion in stablecoin transactions processed globally last year, these digital currencies are quickly becoming the backbone of global value exchange. In Sub-Saharan Africa, where remittance fees still average 7.9% to send $200, the need for low-cost, high-speed financial tools is urgent and growing.

Founded by African entrepreneur and Western Union Foundation Fellow Jonathan Katende, Lipaworld is built on lived experience. Born in the Democratic Republic of Congo (DRC) and raised in South Africa, Katende knows firsthand how difficult it is to move money across borders affordably and with dignity.

“We are not here to hype crypto. We are here to offer real financial access to people who have been overlooked or underserved by traditional systems,” says Katende, now based in the United States. “Stablecoins are not a fad. They are a regulated, reliable way for people to take control of their finances, build economic resilience, and participate fully in the modern economy.”

A simpler, safer alternative

At its core, Lipaworld allows users to earn dollarised income with a virtual bank account, send funds using stablecoins back home, and spend their stablecoins in its marketplace for local products using USDC. By bypassing high fees, FX markups, and third-party hold-ups, the platform puts users in control of their funds through a self-custodial wallet that operates much like a familiar money app.

“Our UX is intentionally simple. We hide the complexity so people can just get on with their lives. Behind the scenes, we are using stablecoin wallets, but the experience is no different than a familiar money transfer or payment app, except it works better,” says Katende.

Built for South Africa’s informal economy

South Africa’s informal sector remains largely excluded from formal finance. Freelancers often wait days to receive international payments. Immigrants pay exorbitant fees to send money home. Small businesses struggle to operate digitally or access credit.

Lipaworld aims to solve this and eventually evolve into a full ecosystem that includes credit offerings and merchant tools. For instance, a freelance graphic designer in Cape Town can now invoice in digital dollars, get paid in minutes, and send value to family in Zimbabwe without touching a bank.

“When we talk about financial inclusion, we cannot stop at opening a bank account. If people are withdrawing everything at the ATM at the end of the month and avoiding transaction fees, the system is broken. We see a leapfrogging opportunity to build something that works better from the ground up using stablecoins,” says Katende.

Regulatory commitment

In a space often clouded by hype and confusion, Lipaworld is committed to transparency and regulatory alignment. The company partners with licensed Payment Service Providers (PSPs) in each market it operates in and remains deeply engaged with policymakers to ensure innovation supports, rather than circumvents, regulatory priorities.

“We are pro-regulation. We do not believe in working around the rules. Instead, we believe in working with them. But innovation needs air to breathe. We want to help regulators see stablecoins as safe, useful, and aligned with the public good,” he concludes.

Distributed by African Media Agency (AMA) on behalf of Lipaworld

About Lipaworld

Lipaworld is a venture-backed fintech company on a mission to make borderless financial tools accessible to the world’s underserved. Its platform enables users to earn in stablecoins, send value across Africa, and buy real-world goods through a marketplace of verified merchants. Lipaworld operates in 22+ countries and is a winner of the Plug and Play x Visa Inclusive Fintech Accelerator.

Media contact:

Syreeta van Rooyen s.vanrooyen@bdcomms.co.za

The post Lipaworld brings stablecoin-powered finance to South Africa’s informal economy appeared first on African Media Agency.

AMA, Business

RegTech Africa Conference & Awards 2025: Pioneering Africa’s Economic Transformation through Innovation and Collaboration

Maravi Post Reporter

LAGOS, Nigeria, 13 May 2025 /African Media Agency (AMA)/- In just under two weeks, the global spotlight will turn to Lagos, Nigeria, as the RegTech Africa Conference & Awards 2025 convenes at the prestigious Oriental Hotel on May 22–23. Under the theme “Unlocking Africa’s Cross-Border Payments, Trade, and Investment Opportunities through Public-Private Partnerships,” this landmark event is set to catalyze transformative dialogue and action across the continent.

Organized by RegTech Africa, the conference will gather over 1,000 participants, including high-level policymakers, regulatory authorities, fintech innovators, investors, and thought leaders from across Africa and beyond. The aim is to forge strategic partnerships and develop actionable solutions that address the continent’s most pressing economic challenges.

With a stellar lineup of distinguished speakers, the event feature prominent figures, like Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria, ably represented by Musa Jimoh, Director of Payments System Policy at the Central Bank of Nigeria; Abdulrasheed Bawa, former Executive Chairman of the Economic and Financial Crimes Commission; Lorien Gamaroff, Co-founder & CEO of Centbee; Richy Emah, Regional BDD – North/West Africa, Sumsub; Edwin Woryonwon Harris Jr., Director General of GIABA; and Dr. Nurudeen Abubakar Zauro, Technical Adviser to the President on Economic and Financial Inclusion.

Strategic Partnerships Driving Innovation

The conference is bolstered by an impressive lineup of global and indigenous partners, including the Central Bank of Nigeria (CBN), Sumsub, EMTECH, Regfyl, Opay, SANEF, NDIC, and NCC, underscoring a collective commitment to advancing Africa’s regulatory technology landscape. These partnerships underscore a shared commitment to advancing Africa’s trade, payments, and investment ecosystem through innovative solutions and unified regulatory frameworks.

Key Highlights:

  • Dynamic Panel Discussions: Engage with experts on topics such as cross-border payment systems, regulatory harmonization, investment frameworks, and the role of RegTech in driving financial inclusion.
  • Innovative Exhibitions: Experience cutting-edge RegTech solutions that are transforming compliance, payments, and trade ecosystems across Africa. 
  • Networking Opportunities: Connect with influential decision-makers, innovators, and investors to build meaningful partnerships.
  • RegTech Africa Awards 2025: Celebrate excellence and innovation in regulatory technology and public-private partnership-driven initiatives across the continent.

As Africa advances towards deeper economic integration through the African Continental Free Trade Area (AfCFTA), the conference aims to address persistent challenges such as fragmented payment systems, regulatory complexities, and limited investment flows. By fostering collaboration between the public and private sectors, the event seeks to unlock scalable solutions that bridge infrastructural, regulatory, and technological gaps.

“Collaboration between the public and private sectors is no longer optional—it’s essential,” said Cyril Okoroigwe, Chair of the Organizing Committee. “The Conference is a call to action for all stakeholders to come together, break down barriers, and unleash Africa’s full potential through innovative solutions, unified regulatory frameworks, and transformative investments. This is a unique opportunity to be part of a defining moment in Africa’s journey toward integration and prosperity.”

Registration and Sponsorship Opportunities

Limited seats are available. To register or explore sponsorship opportunities, please visit www.regtechafricaconference.com or contact us at info@regtechafrica.com.Zawya

Distributed by African Media Agency on behalf of RegTech Africa.

About RegTech Africa

RegTech Africa is a leading organization dedicated to fostering innovation in regulatory technologies across the continent. By creating platforms for dialogue, collaboration, and innovation, RegTech Africa drives initiatives that accelerate economic growth and financial inclusion in Africa.

Source : African Media Agency (AMA)

AMA, Business

Understanding Your Credit Score and Why It Is Important

Maravi Post Reporter

WINDHOEK, Namibia, 8 May 2025 -/African Media Agency (AMA)/- TransUnion Namibia is committed to helping consumers better understand their financial options and the importance of maintaining a healthy credit score in today’s economy.

“At TransUnion Namibia, we’re committed to helping consumers understand their financial standing and the importance of maintaining a healthy credit profile. With greater awareness and access to credit education, more Namibians can be empowered to take control of their financial futures and fully participate in the economy,” says Lara Enslin, Country Manager of TransUnion Namibia.

Why Your Credit Score Matters

Your credit score is a numerical representation of your creditworthiness. It helps lenders determine whether to extend credit to you, and at what interest rate. Your credit score is calculated based on the information in your credit report.

Namibian consumers are entitled to one free credit report annually from each credit bureau. Reviewing this report helps you understand your credit history and identify any inaccuracies. If you notice errors, such as unfamiliar accounts or incorrect details, you can file a dispute with the credit bureau, such as TransUnion, to have them corrected.

Key factors that influence your credit score include:

  • Payment History: A strong indicator of reliability. Late payments negatively impact your score, so always pay at least the minimum amount due each month.
  • Credit Utilisation: This measures how much of your available credit you’re using. High utilisation can signal financial distress.
  • Length of Credit History: Older accounts help improve your score, so maintaining long-standing credit lines is beneficial.
  • Credit Mix: A variety of credit types such as credit cards, home loans, and personal loans can positively influence your score.
  • New Credit Applications: Opening several accounts in a short timeframe can raise red flags for lenders.

Building a Healthy Credit Profile

Improving your credit standing takes time and consistency. Avoiding late payments, minimising credit utilisation, and limiting new credit applications all contribute to a healthier profile. Responsible use of credit, such as managing small, well-maintained accounts and paying on time, can help you build a solid credit history.

“We are actively driving financial inclusion in Namibia through several initiatives,” says Enslin. “One of our key focus areas is supporting micro-finance institutions and products, which help bring affordable financial services to underserved communities. These services often serve as an entry point to credit, allowing individuals to build their credit profiles over time. We’re also working with regulators and policymakers to enhance infrastructure and enable seamless, digital onboarding for consumers.”

Through data and predictive insights, TransUnion aims to expand access to credit and improve financial health for Namibians, supporting inclusive economic growth and long-term stability.

How to Access Your Free Credit Report
To request your annual free credit report, email a copy of your ID to
mailto:SA_Namibia-FreeReport@transunion.com. You will receive a form to complete before the report can be processed.

Alternatively, you can request your credit report in person at: TransUnion Namibia
27J, First Floor, Old Power Station
Southern Industrial, Windhoek
Business hours: 9:00am – 2:30pm

Distributed by African Media Agency (AMA) on behalf of TransUnion.

About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Botswana, Kenya, Malawi, Namibia, Rwanda, South Africa, eSwatini, and Zambia. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

For more information visit: www.transunionafrica.com

Media Contact:
Keabetsoe Matshediso
keabetsoe.matshediso@fleishman.co.za

Source : African Media Agency (AMA)

AMA, Business

Shortlist of nominees announced for the African Banker Awards 2025

Maravi Post Reporter

The 2025 edition of the Awards will recognise and celebrate the strides being made by banks across the continent with a focus on innovation, transformation and also the promotion of inclusivity and gender equality. 58 nominees have made the shortlist for the 2025 awards, which has become a fixture on the African banking calendar.

LONDON, England 2 May, 2025 -/African Media Agency(AMA)/- African Banker magazine has announced the shortlist of nominees for this year’s edition of its annual African Banker Awards.

The winners will be made known during the official gala ceremony scheduled for May 28th in Abidjan, Côte d’Ivoire, as part of the official programme of the Annual Meetings of the African Development Bank.

The 2025 edition of the African Banker Awards is organised by African Banker magazine and IC Events under the patronage of the African Development Bank. The ceremony’s platinum sponsor remains the African Guarantee Fund, a fund created to share risks with commercial banks to encourage them to lend to the SME sector while ATIDI, which provides facilities to ensure against country risks and other associated insurance services, comes in as exclusive cocktail sponsor.

The African Banker Awards has, since its inception in 2007, sought to recognise and celebrate the exceptional individuals and organisations driving Africa’s rapidly transforming financial services sector.

The shortlist of nominees for the African Banker Awards 2025 was selected from over 200 entries submitted in nine categories by banks spread across the African continent. This year, two female bank executives have emerged as nominees for the prestigious “Banker of the Year” award, underlining the leading role women continue to play in shaping Africa’s banking and finance landscape.

Speaking on the awards, Omar Ben Yedder, Chair of the Awards committee commented on the increasing focus on SME, sustainable banking practices and the role of fintechs in the ecosystem. “Banks have performed strongly last year despite headwinds and currency devaluations in major countries. We also received entries in the deals category that shows that there are numerous transformative transactions taking place. And yet, the message remains. Interestingly, SMEs proved to be a profitable asset class and one that banks are paying greater attention to. The advent of AI and other technological advancements are at the centre of bank strategies too. The continent needs even bigger banks to support our growth agenda.”

The nominees for the African Banker Awards 2025 are as follows:

Bank of the Year

  • Commercial International Bank Egypt (CIB)
  • Ecobank
  • First Bank of Nigeria Limited
  • Kenya Commercial Bank (KCB Group Plc.)
  • Mauritius Commercial Bank (MCB Ltd.)
  • Trade and Development Bank Group (TDB Group)
  • Coris Bank International

Banker of the Year

  • Abdulmajid Mussa Nsekela – CRDB Bank Plc.
  • Jeremy Awori – Ecobank
  • Karim Awad – EFG Holding
  • Léon Konan Koffi – AFG Holding
  • Mukwandi Chibesakunda – Zanaco Inc.
  • Patricia Ojangole – Uganda Development Bank
  • Sidi Ould Tah – The Arab Bank for Economic Development in Africa (BADEA)

Sustainable Bank of the Year

  • Commercial International Bank Egypt (CIB)
  • CRDB Bank Plc.
  • Kenya Commercial Bank (KCB Group Plc.)
  • Nedbank
  • Trade and Development Bank Group (TDB Group)

Fintech of the Year

  • 4G Capital
  • Inclusivity Solutions
  • Network International
  • Oze
  • ProfitShare Partners
  • Valu

DFI of the year

  • African Export-Import Bank (Afreximbank)
  • African Trade Insurance Agency
  • Bank of Industry
  • Banque Ouest Africaine de Développement (BOAD)
  • ECOWAS Bank for Investment and Development (EBID)
  • Shelter Afrique Development Bank (ShafDB)
  • Trade and Development Bank Group (TDB Group)

SME Bank of the Year

  • Co-operative Bank of Kenya Ltd.
  • CRDB Bank Plc.
  • Ecobank
  • Standard Bank
  • Uganda Development Bank

Deal of the Year – Infrastructure

  • US$83.35 MM Al Zahy Group For General Contracting (Ahmed El Zzahy & Co.) – National Bank of Egypt
  • US$646.64 MM (ZAR 12 Billion) Envusa Energy – Absa Bank Ltd. / Rand Merchant Bank
  • US$1.9 Billion Kano Maradi Railway Project – African Finance Corporation / African Export-Import Bank (Afreximbank)
  • Project Platinum – US$200 MM Dividends Backed Capital Raise by BUA Industries Limited – Africa Finance Corporation
  • US$188.62 MM (ZAR 3.5 Billion) Scatec Mogobe Battery Energy Storage System – Standard Bank
  • US$1.04 Billion Suez 1.1 GW Wind Power Project in Egypt: Powering Africa’s Renewable Future – African Development Bank
  • US$1.20 Billion (ZAR 22.25 Billion) Mokolo Crocodile River Water Augmentation – Standard Bank

Deal of the Year – Debt

  • US$119 MM Green, Social and Sustainable Development Bond – ECOWAS Bank for Investment and Development (EBID)
  • US$2.05 Billion Bank of Industry – 2024 Facility – Afreximbank/Africa Finance Corporation/ Bank of Industry
  • US$394 MM ETC Group (Mauritius), Inaugural Sustainability Linked Loan (SLL) – Trade and Development Bank Group (TDB Group)
  • US$13 Billion Ghana’s Eurobond Debt Restructuring – Hogan Lovells
  • US$18 MM Letshego Holdings Namibia Limited Social Bond – Rand Merchant Bank (RMB)
  • Republic of Benin €507.5 facility – African Trade Insurance Agency
  • Sahara Group’s US$500 MM Debt Sub-Participation Financing – Africa Finance Corporation
  • US$ 590 MM – The Egyptian Chemical Industries Company (KIMA) – National Bank of Egypt

Deal of the Year – Equity

  • Aradel Holdings’ US$2 Billion Listing by Introduction on Nigerian Exchange Limited – Standard Bank
  • Boxer’s US$470 MM Initial Public Offering (IPO) – Standard Bank
  • FQM’s US$1.15 Billion Bought Deal on the Toronto Stock Exchange- Absa Bank Ltd.
  • Nigerian Breweries’ US$352 MM Rights Issue – Standard Bank
  • Renaissance Acquisition of Shell- US$2.4 Billion – PwC Nigeria
  • Boxer’s US$470 MM Initial Public Offering (IPO) – Absa Bank / Standard Bank

Distributed by African Media Agency. on behalf of IC Publications

About the African Banker Awards

The African Banker Awards are prestigious awards that celebrate excellence and best practices in banking and finance in Africa. These annual awards honour outstanding individuals and remarkable financial institutions that are transforming the continent’s financial sector and contributing to economic development and financial inclusion in Africa.

Organised by African Banker magazine in partnership with IC Events, the Awards bring together industry leaders from across the continent to honour innovation, resilience and competitiveness in the African banking sector.

For more information about the African Banker Awards, please visit our website at www.AfricanBankerAwards.com.

About African Banker

African Banker is a pan-African publication dedicated to the banking industry across the continent. African Banker provides in-depth analysis and commentary on the trends shaping Africa’s financial landscape.

As a trusted source of information, African Banker offers a unique perspective on the challenges and opportunities facing the African banking sector.

For any further information, please contact Constance Haasz at the following address: c.haasz@icpublications.com

Source : African Media Agency (AMA)

AMA, Business

Djibouti Forum calls for optimism and greater collaboration amidst policy-induced global turbulence

Maravi Post Reporter

DJIBOUTI City, Djibouti 9th April 2025 -/African Media Agency(AMA)/- Global turbulence, much of it self-inflicted, dominated discussions at the second edition of the Djibouti Forum. Nonetheless, business leaders appeared relatively optimistic, and this wakeup call may turn out to be a good omen for the continent.

This year’s Djibouti Forum convened over 150 international guests from 51 countries, including institutional investors overseeing more than $2.6 trillion in cumulative assets.

A common thread throughout the discussions was the need for greater strategic partnerships as well as a call for greater domestic resource mobilisation, allowing pension funds and sovereign wealth funds to take greater risks.

Prime Minister Abdoulkader Kamil Mohamed declared that Djibouti was ready to diversify its economy beyond its well-established ports and logistics sector, which he described as “one of the most efficient and sophisticated in Africa.”

“Renewable energy, the digital economy, tourism, and financial services are all at the heart of this next chapter. We’re looking for access to capital, expertise, and partners who share our long-term vision.”

The Prime Minister reassured investors of Djibouti’s unwavering commitment to maintaining peace and fostering economic and political stability. “The pillar of our strategy in Djibouti is stability. Our currency, pegged to the dollar since 1949, offers investors a degree of stability that is rare in Africa,” he remarked.

Dr. Slim Feriani, CEO of the Fonds Souverain de Djibouti (the country’s sovereign wealth fund), emphasised the fund’s readiness to co-invest alongside international investors in key projects. “The FSD will partner with all of you, taking equity stakes and essentially putting skin in the game. We want to double our assets under management in the next five years, and we know that we cannot do this alone,” he noted.

Feriani highlighted the potential for attractive returns on investment for private players in Djibouti. “Investors here have seen positive returns,” he explained, while acknowledging the need for sustained reforms to further attract private investment. “The private sector is a force for good, which needs positive regulations to create a conducive environment.”

The two-day forum featured over 50 high-level speakers, engaging in discussions on topics such as privatization, public-private partnerships, and priority economic sectors including technology, connectivity, energy, tourism, financial services, and logistics. The event facilitated lively debates among leading economists, policymakers, and investors about the macroeconomic landscape in Djibouti and across Africa.

Dr. Acha Leke, Senior Partner & Chairman of McKinsey & Company, Africa, expressed optimism regarding Africa’s economic prospects despite challenges such as high indebtedness and unequal economic growth across countries. “Despite all its challenges, Africa is home to approximately 345 businesses valued at over $1 billion, with cumulative revenues around $1 trillion,” he stated.

Lionel Zinsou, former Prime Minister of Benin and co-founder of SouthBridge, identified the emergence of philanthropic capital as a crucial opportunity for Africa. “There is a new important partner in blended finance, which is the partnership of the public and private sectors with philanthropy. They are prepared to de-risk investments and to supply grants, which helps lower the costs and interest rates for projects,” he said.

Dr. Samuel Maimbo, former World Bank Vice President, commended the FSD for creating a collaborative platform for institutional investors in Africa. “The idea of having an African sovereign wealth fund working with other SWFs is the start of a good conversation. We must stop this cycle of aid and debt. We know how the story ends. It is time to pivot to hope and prosperity.” 

The Djibouti Forum was hosted by the Sovereign Wealth Fund of Djibouti (Fonds Souverain de Djibouti), established in March 2020 and now under the stewardship of CEO Dr. Slim Feriani, a former Tunisian Minister with over 30 years of experience in international capital markets.

Distributed by African Media Agency. on behalf of IC Publications

About the Djibouti Forum:

Convened by the Sovereign Wealth Fund of Djibouti (Fonds Souverain de Djibouti), this two-day event is a global platform to accelerate investment in fast-growing emerging markets. This Forum highlights the potential and prospects of Djibouti as well as the African continent. It facilitates dialogue and collaboration among key stakeholders from the public and private sectors, as well as the SWF and institutional investment community. The Forum is not only showcasing interesting investment opportunities in the country but is also bringing together CEOs, investors and developers to foster collaboration amongst like-minded individuals and catalyse strategic investments for the whole subregion.

About Fonds Souverain de Djibouti

Established in March 2020, the Sovereign Wealth Fund of Djibouti is helping to build a multigenerational savings pot, improve governance, diversify the economy and catalyse greenfield investments in the country’s strategic sectors. These include sustainable natural resources and energy, telecommunications and digital infrastructure, technology, tourism, financial services, critical infrastructure and services, healthcare and education. For more information visit: https://www.fsd.dj.

Media contact 

IC Publications

Isabelle Dana 

i.dana@icpublications.com

The post Djibouti Forum calls for optimism and greater collaboration amidst policy-induced global turbulence appeared first on African Media Agency.

Source : African Media Agency (AMA)

AMA, Business, Technology

Mama Money GhanaFest 2024: Free Entry, International Headliners, and Big Cash Prizes to be Won!

MaraviPost

PRETORIA, South Africa, 10th September 2024 -/African Media Agency (AMA)/- Mama Money is thrilled to announce the return of the Mama Money GhanaFest, now in its 10th edition, taking place on Saturday, 14 September 2024 at Fountains Valley, Pretoria. This year’s festival promises to be a bigger and more dynamic celebration, bringing together African diaspora communities from across South Africa for a day of music, dance, food, culture, and connection.

Headlined by King Paluta and Ofori Amponsah, flown in directly from Ghana, the festival is free to attend and offers a full day of entertainment, cultural experiences, and exciting cash prizes. With a focus on celebrating the rich heritage of not only Ghanaians but all diaspora communities in South Africa including Nigerians, Zimbabweans, Malawians, Ugandans, Tanzanians, Bangladeshi, Indian, Pakistani, and many more, GhanaFest has become a flagship event for the diverse communities that co-exist in South Africa.

What you need to know: 

Date & Venue: Saturday, 14 September 2024, Fountains Valley, Pretoria (10 AM – 6 PM)
Headline Performers: King Paluta and Ofori Amponsah, top artists from Ghana
Cultural Showcase: Traditional clothing, textiles, food stalls, and products for sale. 
Cash Prize Giveaway: R10,000 loaded onto a Mama Money Card, plus 10 additional prizes of R1,000 each! Available to new and current Mama Money customers. 
Mama Money Card Activation: Get your bank card on-site with just a valid passport
Free Entry: All are welcome to celebrate the diversity and unity of African cultures.

This year’s GhanaFest is set to be a cultural extravaganza, featuring live performances, vibrant displays of traditional clothing and textiles, and delicious West African cuisine. The event will attract over 6,000 attendees from a variety of nationalities, all coming together to celebrate the diversity and unity of Africa’s rich cultural heritage in South Africa.

“We’re proud to be able to give back to the communities we serve and to host a free festival that celebrates diverse cultures and the positive impact that these communities have in South Africa,” said Mathieu Coquillon, Co-founder of Mama Money. “We believe in creating opportunities for people to connect with their loved ones in South Africa and back home, and this festival is the perfect example of how culture, music, and community can bring people together. We are excited to be a part of this special celebration.”

Alongside the celebration, Mama Money is offering festival-goers the chance to win big with a grand prize of R10,000 loaded onto a Mama Money Card. Ten additional attendees will also win R1,000 each. The giveaway is open to all, whether they are existing Mama Money customers or new cardholders, with cards available for instant activation at the festival.

“As the Smart Superhighway for money movement around the world, Thunes aims to make it easier for FinTech companies to offer their customers a quick and transparent way to send money home affordably,” said Andrew Stewart, Chief Revenue Officer, Europe and Africa at Thunes. “Through our collaboration with Mama Money, we are helping the African diaspora strengthen their ties with their friends and families back home.”

GhanaFest 2024 promises to deliver a full day of excitement, with music, dance, and cultural performances celebrating not only the Ghanaian community but all African nationalities in South Africa. The festival will also feature local artists, cultural artifacts, and the best in West African cuisine.

Attendees can sign up for the Mama Money Card at the venue, providing a quick and easy way to access banking services. All you need is a valid passport to get started with a card that offers instant international money transfers at the lowest rates in the market, allowing customers to send money home to Ghana, Zimbabwe, Nigeria, Tanzania, Malawi and over 70 countries worldwide. 

Distributed by African Media Agency (AMA) on behalf of Mama Money

About Mama Money

Mama Money is a fintech company that offers international money transfers and banking services through a free mobile application that can be downloaded from the Google Play or Apple App Store in South Africa. 

Mama Money is one of the fastest-growing money transfer operators with over 720,000 users and offers low fees and great exchange rates. The Mama Money app is currently the highest-rated money transfer app on the Google Play Store in South Africa. 

Download the Mama Money app to register in minutes with your passport or identity document.

For more information, visit www.mamamoney.co.za  

Media contacts
Mama Money
Thomas Maree
thomas@mamamoney.co.za

The post Mama Money GhanaFest 2024: Free Entry, International Headliners, and Big Cash Prizes to be Won! appeared first on African Media Agency.

Source : African Media Agency (AMA)

AMA, Business

MDP Takes Center Stage as Payments Enabler Africa Sponsor at Africa Fintech Summit Nairobi 2024

MaraviPost

NAIROBI, Kenya, 30 August 2024/African Media Agency/-MDP, a leading payments technology provider in the Middle East and Africa, is gearing up to make its mark at the 12th edition of the Africa Fintech Summit, taking place in Nairobi, Kenya, from September 4-6, 2024. The payments technology pioneer is coming on as Africa’s Payment Enabler Sponsor for the second year running.

This partnership comes as MDP intensifies its efforts to expand across Africa. At the turn of the year, the company appointed ex-Mastercard executive Frank Molla and banking and payments expert Emmanuel Owusu Sarpong-Oduro as managing directors of MDP Africa and MDP Ghana, respectively.

With these appointments, MDP looks to expand its already extensive footprint and impact as a payment infrastructure company. By providing card issuing, acquiring, processing, and digital payment solutions, MDP currently serves over 200 banks and 60 fintech companies in 40+ countries across the Middle East and North Africa (MENA), Sub-Saharan Africa, and Eastern Europe. 

Since its inception about 30 years ago, over 1000 companies have benefited from MDP’s payments infrastructure, touching 300 million lives. For instance, the company has issued more than 340 million cards, with 35 million of those coming in 2023 alone. 

Despite already being an accomplished payments infrastructure provider, MDP is highly ambitious and sees initiatives like the Africa Fintech Summit as viable opportunities to achieve key brand and growth objectives. Following its successful outing at last year’s summit, where it forged new connections and partnerships, MDP is returning to the Africa Fintech Summit with a focus on expanding its network and client portfolio at an event that brings Africa’s fintech stakeholders together. 

Commenting on MDP’s partnership with the Africa Fintech Summit for AFTSNairobi 2024, Frank Molla, Managing Director of MDP Africa, who will also be speaking at the summit, said, “As a payment enabler sponsor for the second year in a row at AFTS, MDP is thrilled to offer innovative payment services and solutions to the African region, bringing our product suite into action and bridging the gap towards financial inclusion. We’re also looking forward to building new connections and a stronger network in the African region.” 

Ahmed Nafie, CEO of MDP, noted, “MDP is proud to be a part of reshaping the financial landscape in Africa, harnessing the transformative power of technology to redefine the future of payments. We’re committed to unlocking new opportunities for economic growth, and we’re eager to share our expertise and knowledge with the global community to create a new era of payment innovation that prioritizes financial inclusion and empowers businesses.” 

Zekarias Amsalu, Co-founder of the Africa Fintech Summit, also shared his thoughts on the significance of MDP’s participation: “We’re thrilled to have MDP back for the second year in a row. Their commitment to driving financial inclusion aligns perfectly with our vision to upgrade payment experiences in Africa. We’re proud to have them as part of our community, and we look forward to seeing the impact they will continue to make.”

MDP’s confidence in the summit’s ability to help it achieve its objectives is based on the Africa Fintech Summit’s track record. Since 2018, AFTS has established itself as the biggest Africa-focused forum where fintechs, innovators, investors, regulators, and other stakeholders unite to share ideas, explore opportunities, and drive stronger partnerships to overcome payment and financial inclusion challenges. It has contributed to African startups’ efforts to raise over $125 million, served as the platform for startup and product launches and the introduction of groundbreaking initiatives like the U.S. Government-funded Prosper Africa Tech Trade Alliance, and fostered productive discourse and partnerships between stakeholders.

This year’s edition is set to deliver carefully curated growth-enabling engagements that foster knowledge sharing, networking, and professional and business growth for participants. Taking place from September 4 to 6, 2024, AFTSNairobi 2024 will feature a VIP Dinner, keynote speeches, panel sessions, workshops, the Alpha Expo Pitch Competition, the Excellence in Fintech Award Ceremony, tours of the Kenyan tech ecosystem, and more. To learn more and register for the summit, visit www.africafintechsummit.com.

Distributed by African Media Agency in partnership with Africa Fintech Summit

About MDP:

MDP is a payment technology pioneer, providing EMV card production, issuing and acquiring processing, and digital solutions to over 200 banks and 60 fintechs across the Middle East, Africa, and Eastern Europe. With over 35 years of experience, MDP enables businesses to roll out their financial solutions with its end-to-end payment infrastructure and robust product suite. The company takes pride in accelerating payment experiences through innovative, scalable, and seamless emerging solutions. MDP’s platform enables issuers and acquirers to build their Card, POS, and ATM products, as well as comprehensive digital solutions for next-gen innovators. The company produced over 350 million cards, with over 35 million cards produced & processed over 4 million in 2023. MDP is headquartered in Cairo, Egypt, and has an extended footprint in more than 40 countries globally.

About Africa Fintech Summit:

AFTS ( https://africafintechsummit.com ) is the premier global initiative dedicated to the African fintech ecosystem. AFTS is traditionally hosted in Washington, D.C., each April during the World Bank/IFC annual meeting week and in a different African city each November. The summit is being held in a hybrid format, in person in the selected Venue in compliance with COVID-19 protocol and global live virtual delegates.  

Supported by an advisory board of thought leaders and fintech pioneers, AFTS is a unique space where innovative ideas are debated, investments mobilized, partnership deals signed, and collaborations formed across sectors and geographies. AFTS is organized in partnership between Washington, D.C. based firms, strategic advisory group, Dedalus Global, and Pan-African consultancy advisory firm, Ibex Frontier. 

Media contact:
Charles Isidi
Head of Marketing and Communications,
Africa Fintech Summit.
charles@africafintechsummit.com

The post MDP Takes Center Stage as Payments Enabler Africa Sponsor at Africa Fintech Summit Nairobi 2024 appeared first on African Media Agency.

Source : African Media Agency (AMA)

AMA, Technology

AFRICA FINTECH SUMMIT NAIROBI 2024 WELCOMES INTERSWITCH GROUP AS GOLD SPONSOR

MaraviPost

NAIROBI, Kenya, 21st August 2024/African Media Agency/-The Africa Fintech Summit is pleased to announce Interswitch Group as Gold Sponsor for the Africa Fintech Summit (AFTS) 2024 to be held in Nairobi, Kenya from 4-6 September, 2024. The partnership comes at a time of significant expansion of Interswitch’s operational footprints across the continent, on the back of notable milestones such as the recent consolidation of its strategic partnership with ACI Worldwide to drive the modernisation of real-time payments across 32 Markets in Sub-Saharan Africa, as well as its foray into other industry verticals including Healthcare, Energy & Transportation, among others.

Since commencing operations in 2002 out of Nigeria, Interswitch has remained at the forefront of driving innovation in the financial technology and digital payments industry, facilitating payments and leveraging innovative technology solutions to shape the future of trade and digital commerce in Africa. As one of the pioneers of digital payment innovation in Africa, Interswitch, at its inception, disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services. It also launched Verve, Africa’s premier and leading domestic EMV-standard chip and pin payments card scheme.

Since 2021, Verve has controlled more than 50% of the Nigerian card market, courting deepened relationships with banking partners and fintech startups operating in Nigeria. Additionally, a recent change in consumer behaviour and macroeconomic conditions has led more Nigerian banks and fintech startups to issue Verve cards to customers as a locally relevant and reliable alternative. For instance, OPay, one of Nigeria’s largest digital banks has issued 13 million Verve cards, while Moniepoint has issued about 4 million, further solidifying Verve’s position as a leading card and payment chip provider.

Today, Interswitch is a leading player with critical mass across Africa’s developing financial ecosystem and is active across the payments value chain, providing a full suite of omni-channel payment solutions. Interswitch’s vision is to make payments a seamless part of everyday life in Africa, overarching the company’s drive to facilitate intuitive transaction solutions that enable individuals and communities to prosper across the continent. Interswitch’s broad network and robust payments platform have been instrumental to the development of the payments ecosystem across the continent and provide Interswitch with the infrastructure to expand across Africa.

Commenting on the partnership with the Africa Fintech Summit for this year’s edition, Interswitch Founder & Group CEO, Mitchell Elegbe remarks “As an Africa-focused integrated digital payments and commerce leader, and an important gateway to Africa’s Fintech Ecosystem, we are extremely delighted to support ecosystem engagement and valuable thought-leadership through the platform of the Africa Fintech Summit. 22 years ago, we set out, with a clear vision to solve social problems, starting by digitizing the use of cash. Today, on the realization of the tremendous transformative potential of technology to create value and unlock prosperity for Africa, we’ve set our sights on leveraging technology and innovation to digitize transactions and unlock value in other key social service sectors, just as we continue to do in the sphere of financial services, and we are excited to see that our roadmap and perspective aptly align with the theme of this year’s AFTS, which is ‘Fintech In Every Industry’.

“It is with immense gratitude and great delight that we welcome Interswitch as Gold Sponsor for the Africa Fintech Summit in Nairobi this year. It’s warming to have Interswitch grace the big stage this year, and share detailed insights, trends and expert perspectives as a revered player in the African Payments Space. After 2 decades of building innovative African payment solutions for most payment touchpoints across the continent, we are deeply humbled to have Interswitch’s wealth of experience at this year’s summit. This is particularly important because it fits into our 2024 AFTS in Nairobi Theme: ‘Fintech in Every Industry,’ underscoring our expectation that in the mobile-first continent of Africa, we will see fintech penetrating through all industries. All sectors stand to benefit from being powered and served by fintechs – including insurance, saving & investments, cross-border trade, e-commerce, mobile money & digital banking, utilities, mining, trade, healthcare, and education. We will also see non-fintech companies leapfrogging digitally and providing these services embedded in their own product offerings as many service providers have done across the continent” said (*Zekarias Amsalu, Co-Founder of AFTS and MD of Ibex Frontier)

Since its first summit in 2018, the Africa Fintech Summit has become the largest annual financial technology gathering on the African continent. In addition to its partnership with Interswitch, AFTS will be supported by a diverse cohort of partners and sponsors. #AFTSNAIROBI2024 will bring Keynote Speeches from Kenyan policymakers & AfCFTA as well as a VIP dinner for Speakers and invited guests on the night of 04 April; panels, workshops and fireside chats on 05 & 06 September; a delegation from Prosper’s Tech for Trade Alliance along with AfCFTA’s Digital Protocol, Alpha Expo Pitch Competition & Ecosystem tours on the 06th September. The event will conclude with a happy hour for delegates and attendees on both the 5th & 6th of September. 

Join Africa’s largest community of financial technology innovators, investors, and regulators at the 12th edition of AFTS coming for the first time to Nairobi, Kenya on September 4-6, 2024. Supported by an advisory board of thought leaders and fintech pioneers, the AFTS is a unique space where ideas are explored, investments are mobilized, and collaborations are formed across sectors and geographies.

More than just a conference, AFTS bring the issues, entrepreneurs, and opportunities revolutionizing finance in Africa to the world’s stage. AFTS has hosted ten previous summits having hosted 5 editions in Washington, DC and 5 more editions in Lagos, Addis Ababa, Cairo, Cape Town, and Lusaka.

Over the past 10 summits, AFTS has supported Over USD 125M in capital raise efforts for African fintech startups, Groundbreaking launch of US-government funded Prosper Africa Tech for Trade Alliance, Public discourse and debate surrounding industry trends, brand building and awareness opportunities across global fintech media, knowledge sharing between banking/fintech operators with regulators, active engagement and inclusion of regulatory authorities in continental fintech conversation, and bring the largest source of truth for announcements of financial technology innovation, and strategic partnerships across the continent and globally.

With an information-packed agenda, AFTSNAIROBI 2024 will feature regulatory roundtables, bilateral meetings, collaborative partnerships, workshops, demos, pitch competitions, ecosystem tours, whitepapers, awards, and plenty of opportunities to collaborate with the investors and entrepreneurs shaping the future of African fintech, and we are glad to have Interswitch at the forefront of these conversations with leading names within the business like Akeem Lawal (MD, Payment Processing & Switching), Jonah Adams (MD, Digital Infrastructure & Managed Services, Peter Kawumi (MD, East Africa) & Bernard Kinara (Country VP, Kenya).

As in the past years, the event will be hybrid, with live streaming provided for remote attendees via our website. Limited tickets to the 12th Edition summit is now available. Secure your passes now on our website: https://www.africafintechsummit.com/

Distributed by African Media Agency in partnership with Africa Fintech Summit

About Africa Fintech Summit 

Africa Fintech Summit is the premier global initiative dedicated to the African fintech ecosystem. AFTS is traditionally hosted in Washington, D.C., each April during the World Bank/IFC annual meeting week and in a different African city each November. The summit is being held in a hybrid format, in person in the selected Venue in compliance with COVID-19 protocol and global live virtual delegates.  

Supported by an advisory board of thought leaders and fintech pioneers, AFTS is a unique space where innovative ideas are debated, investments mobilized, partnership deals signed, and collaborations formed across sectors and geographies. AFTS is organized in partnership between Washington, D.C.-based firms, strategic advisory group Dedalus Global, and pan-African consultancy advisory firm Ibex Frontier. 

Media contact:
Charles Isidi
Head of Marketing and Communications,
Africa Fintech Summit.
charles@africafintechsummit.com

The post AFRICA FINTECH SUMMIT NAIROBI 2024 WELCOMES INTERSWITCH GROUP AS GOLD SPONSOR appeared first on African Media Agency.

Source : African Media Agency (AMA)

AMA, Business

His Excellency Wamkele Mene, Secretary General of AfCFTA Secretariat to Deliver Keynote Address at the 12th Africa Fintech Summit in Nairobi, September 4-6, 2024.

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NAIROBI, Kenya, 19 August 2024/African Media Agency/-With a little over two weeks to the start of the 12th Africa Fintech Summit, we are excited to announce that His Excellency Wamkele Mene Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, will give a keynote address on the morning of September 05, 2024, at the 12th Africa Fintech Summit that is taking place at the JW Marriott Hotel in Nairobi, Kenya!

H.E. Wamkele Mene was elected by the 33rd Ordinary Session of the Assembly of Heads of States & Government of the African Union, to the position of Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat and has the pleasure of providing the Africa Fintech Summit audience with updates relevant to cross border trade across the continent and how financial technology is powering this progress at scale.

It is important to note that as of March 2024, countries trading under the #AfCFTA have increased from 6 to 35, an almost 500% growth since the first trade in October 2022. Since assuming this huge undertaking of a single market for goods and services, the AfCFTA has deepened the economic integration of the African continent through the implementation of the largest free trade area that brings together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs) with a population of about 1.3 billion people and a combined GDP of approximately $3.4 trillion.

“We are honoured to welcome His Excellency Secretary General as our keynote speaker for the 12th Africa Fintech Summit in Nairobi, Kenya this September. His Excellency’s participation and keynote address comes at such a pivotal time when the Digital Trade protocol approved in February 2024 has begun to pave the way for the realization of Africa’s single market integration. The numbers are positive and we are confident that the financial technology innovation ecosystems will play a huge part in the growing implementation of the trade protocol” said Zekarias Amsalu, Co-Founder of Africa Fintech Summit.

His Excellency’s Secretary General’s keynote address will be followed by a roundtable titled “AfCFTA’s Digital Trade Protocol – Impacts and Opportunities for the Fintech World”. The roundtable will feature regulators, Fintech and Financial Industry Leaders, infrastructure investors, and data centre operators. Invited guests can expect a deep dive with the AfCFTA team on the technology impact and benefits that the digital trade protocol affords multinational companies to do business within member states. Going beyond encouraging cross-border commerce to streamline customs procedures, reducing tariffs and harmonising import and export regulations, the potential for growth is endless.

The rest of the day will feature a series of high-level fireside chats, a lineup of 80+ speakers at thought-provoking panels, insights-driven workshops and masterclasses designed to leave Africa’s fintech industry with clear actionable insights and next steps for innovation, collaboration, regulation, partnership, and growth.

Check out the up-to-date line-up of speakers for #AFTSNairobi24 HERE. Seats are fast filling out, secure your tickets and add on passes for global, in-country and African delegates. 
For more information about the 12th Africa Fintech Summit in Nairobi, Visit https://africafintechsummit.com/event/africa-fintech-summit-nairobi-2024/

Distributed by African Media Agency on behalf of Africa Fintech Summit.

The post His Excellency Wamkele Mene, Secretary General of AfCFTA Secretariat to Deliver Keynote Address at the 12th Africa Fintech Summit in Nairobi, September 4-6, 2024. appeared first on African Media Agency.

Source : African Media Agency (AMA)