LAGOS, Nigeria, 11 December 2025-/African Media Agency (AMA)/-RegTech Africa today formally announces the publication of the 2024 State of RegTech in Sub-Saharan Africa Report, a comprehensive, data-driven industry report examining the rapid evolution of regulatory innovation across Africa’s financial ecosystem. The report provides strategic insights into the growth of RegTech and SupTech, regulatory innovation, financial inclusion, and the critical role of technology in strengthening consumer protection across emerging and complex markets.
The report positions Sub-Saharan Africa as one of the most dynamic frontiers for regulatory technology, driven by the expansion of FinTech, mobile money, cross-border payments, and real-time digital supervision. It highlights how regulators and financial institutions are increasingly leveraging artificial intelligence, machine-readable regulation, and cloud-based architectures to manage risk while expanding access to formal financial services.
“This report marks a defining moment for Africa’s regulatory and digital finance ecosystem. RegTech is no longer a back-office function, it is now core infrastructure for trust, stability, and inclusive growth. The report captures how African regulators and market participants are moving from reactive compliance to proactive, technology-driven supervision.”
The publication also underscores the growing adoption of Supervisory Technology (SupTech) by central banks and financial authorities, signaling a structural shift towards real-time, data-driven oversight across the continent.
Commenting on the broader implications of the report, Dr. Tunde Ibidapo-Obe, CEO, Regfyl, stated:
“The findings of this report clearly demonstrate that Africa is shaping a uniquely innovative model of digital regulation. The convergence of RegTech and SupTech is enabling safer markets, stronger consumer protection, and scalable financial inclusion that other regions are increasingly studying and learning from.”
The 2024 State of RegTech in Sub-Saharan Africa Report serves as a strategic benchmark for policymakers, regulators, financial institutions, FinTech leaders, investors, and development partners seeking to understand the next phase of digital financial infrastructure in Africa.
RegTech Africa is a leading platform advancing regulatory technology adoption through research, policy engagement, industry convening, and capacity building across emerging markets.
DAKAR, Senegal, 09 December 2025-/African Media Agency(AMA)/-It takes a village to shift a narrative — and Africa No Filter’s village just got stronger.
Africa No Filter (ANF) today announced the formation of its inaugural Council: a collective of eight highly respected leaders whose expertise spans media, finance, philanthropy, law, advocacy and research. Their appointment signals a new chapter for the organisation, which is now an independent, African-led and registered entity in Mauritius after five years as a U.S-based project.
The ANF Council brings together people who have not only excelled in their fields, but who Moky Makura, Executive Director of Africa No Filter, deeply admires for the way they show up for the continent.
“Narratives shape everything, from policy and reputation to investment and opportunity,” Makura says. “As Africa No Filter steps into this new era of independence, this Council strengthens our governance and sharpens our strategic direction. These are people who understand the stakes, believe in Africa’s potential and are committed to ensuring that Africa tells its own, more truthful story.”
Over the last five years, Africa No Filter has committed more than US$7.5 million to the African creative and media ecosystem, supporting storytellers, researchers and platforms that challenge reductive, outdated portrayals of the continent.
Its work has attracted some of the world’s most influential funders, including the Gates Foundation and the Mastercard Foundation, alongside its founding funders – the Ford Foundation, Luminate and the Hilton Foundation, Hewlett Foundation, and Mellon Foundation – who continue to support ANF’s mission to shift global narratives about Africa.
At this pivotal moment, the Council will serve as a strategic sounding board and leadership body, strengthening governance, accelerating impact and expanding the organisation’s reach on the continent and beyond.
The members of the 2025 Africa No Filter Council are:
Richard Addy — a multi-award-winning strategist and co-founder of international audience strategy consultancy AKAS, recognised as one of the world’s Top 100 media experts.
Nousrath Bhugeloo — a seasoned senior executive in financial services and Executive Director and Chairperson at Nexus Global Financial Services.
Yacine Djibo — Founder and Executive Director of Speak Up Africa, whose advocacy has reshaped policy conversations on health, sanitation and sustainable development across the continent.
Ferdinand Mokete — Director at KPMG South Africa and MBA lecturer at Wits Business School, representing the next frontier of African economic leadership and governance excellence.
Françoise Moudouthe — CEO of the African Women’s Development Fund and founder of Eyala, an online platform amplifying African feminist voices.
Nicolas Pompigne-Mognard — Franco-Gabonese entrepreneur and founder of APO Group, an award-winning pan-African communications consultancy and press release distribution service, listed among the Top 100 Most Influential Africans in 2023 and 2024.
Anshi Saminaden — Senior Legal Counsel at the African Leadership University, renowned for her leadership in institutional governance, negotiation and investment management.
Natasha Kofoworola Quist — Founder of Quest Advisory Africa, with over 25 years’ experience spanning humanitarian work, conservation, philanthropy and the private sector.
Each member brings a distinct lens, yet all share a common conviction: that Africa’s story must be told more fully, more fairly and by Africans themselves.
Yacine Djibo believes the future narrative must finally reflect reality — “a continent of creativity, innovation and possibility, where African voices define the story and inspire confidence, investment and ownership from within and beyond the continent.”
For Nicolas Pompigne-Mognard, countering stereotypes is not only ethical, but strategic. By promoting authentic stories of progress, he says, “the media can unlock investment and help transform Africa’s economic prospects.”
Anshi Saminaden echoes this, pointing to the power of authentic storytelling to “direct investment and support to where they are most needed, unlocking Africa’s human power and transformation.”
Nousrath Bhugeloo noted that strong governance is part of how Africa tells its story, and that ANF’s commitment to building resilient, African-led institutions is as important as the narratives it amplifies.
With strengthened governance, expanded continental expertise and a growing global footprint, Africa No Filter’s transition to an independent entity marks far more than an organisational change. It is a statement of intent: a new era in which Africa commands its own narrative, on its own terms.
Africa No Filter is an advocacy organisation dedicated to shifting stereotypical narratives about Africa by supporting storytelling that reflects a dynamic continent of progress, innovation and opportunity. It exists to counter narratives that reduce Africa to poor leadership, poverty, corruption, disease and conflict, and to amplify more accurate, balanced and empowering stories. For more information, visit www.africanofilter.org.
JOHANNESBURG, South Africa, 27 November 2025-/African Media Agency(AMA)/- IBM (NYSE: IBM) today announced the successful delivery of two major SAP S/4HANA system upgrades for Toyota South Africa Motors (Toyota), marking a significant milestone in the automotive leader’s enterprise-wide modernization journey. The projects, executed by IBM in collaboration with SAP, underscore IBM’s commitment to helping organizations achieve operational agility, business resilience, and data-driven decision-making.
With mainstream support for legacy SAP ECC systems ending in 2027, IBM guided Toyota through a Brownfield upgrade strategy, enabling a seamless transition to SAP S/4HANA while preserving existing business process investments. This approach minimized disruption, accelerated deployment timelines, and ensured continuity for critical operations.
Driving Transformation Across Core Business Functions
Vehicle Management Modernization
IBM led the upgrade of Toyota’s national Vehicle Management System—a mission-critical platform for managing orders, inventory, sales, and financial reporting across manufacturing and dealerships. By migrating to SAP S/4HANA, Toyota now benefits from real-time data visibility, improved inventory optimization, and faster responsiveness to customer demand.
Human Capital Management Enhancement
The second phase focused on modernizing Toyota’s HR systems, including payroll and personnel administration. IBM delivered a streamlined SAP S/4HANA-based HCM platform that simplifies workforce processes and lays the foundation for enhanced talent management and employee engagement.
Speed, Continuity, and Risk Reduction
Both upgrades were delivered on schedule and without operational disruption, ensuring Toyota maintained business continuity while modernizing its core systems. IBM’s proven methodologies and deep SAP expertise enabled a risk-mitigated transformation aligned with Toyota’s strategic objectives.
“We are proud to support Toyota South Africa Motors in their digital transformation journey by delivering technology solutions that accelerate innovation and strengthen business resilience,” said Sikhumbuzo Ngcobo, Managing Partner, IBM Consulting South Africa. “At IBM, we call this the Science of Consulting – combining human expertise, AI, and technology to deliver scalable, data-driven transformations. By improving data visibility and governance, we help organizations like Toyota achieve their goals with speed and confidence.”
Nazia Pillay, Managing Director, Southern Africa at SAP, says: “The best companies run on trusted data, optimised business processes and real-time intelligence into every part of the business. By upgrading to SAP S/4HANA, companies like Toyota unlock a suite of intelligent technologies that help transform business processes with intelligent automation. We commend Toyota and IBM on this powerful business transformation initiative and wish them well as they continue their rollout.”
A Partnership Built for the Future
Building on these successes, IBM is collaborating with Toyota on the next phase of its SAP modernization program, focusing on parts management systems. IBM and SAP’s long-standing partnership brings together hybrid cloud infrastructure, automation, and generative AI innovations powered by IBM watsonx, enabling clients to unlock new value and drive industry-specific transformation.
With over 18,000 certified SAP consultants and 300+ SAP S/4HANA implementations in the past five years, IBM helps organizations define transformation roadmaps, co-innovate solutions, and deploy modernization strategies with speed, scale, and AI-driven outcomes.
As a global leader in enterprise applications and business AI, SAP (NYSE:SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.
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SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.
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IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.
PORT LOUIS, Mauritius, 24 November 2025-/African Media Agency(AMA)/-We’re delighted to announce that IQ-EQ has been awarded ‘Global Fund Administrator of the Year’ and ‘African Fund Administrator of the Year’ at the 2025 Asset Servicing Times Industry Excellence Awards, recognising our commitment to delivering exceptional fund administration services across the globe and our leading position in the African market.
The Asset Servicing Times Industry Excellence Awards are dedicated to supporting and recognising talented and dedicated firms across the financial services industry. Winners are selected based purely on merit, with the Securities Services Advisory Group (TSSAG) providing independent industry expertise in judging the awards.
This award celebrates our commitment to delivering exceptional fund administration services across all alternative asset classes, enabling investment managers to focus on capital raising and investment decision-making. For the African category, this recognition comes hot on the heels of our eighth consecutive year winning “Best Fund Administrator – Private Equity Funds Over US$20bn” at the AGF Service Providers Awards.
Commenting on the wins, Rehma Imrith, Managing Director, Africa at IQ-EQ said:
“We’d like to extend our thanks both to our incredibly hard-working teams and to our clients and partners for their ongoing trust and support, all enabling us to achieve this welcome recognition from the industry.”
Learn more about our fund administration solutions here.
IQ-EQ is a global, top-tier investor services group with an unrivalled offering to meet the administration, compliance, and reporting needs of the investment sector in full and worldwide.
What makes us different is our people. Operating as trusted partners to our clients, we deliver intelligent solutions through a combination of well-honed technical expertise and strong relationships based on deep understanding. We’re driven by our Group purpose, to power people and possibilities.
We make life easier, more efficient and cost effective for our clients – be they fund
managers, pension or sovereign wealth funds, multinational companies, or family offices – by providing everything in one place. Our services are underpinned by a Group-wide commitment to ESG and best-in-class technology including a global data platform and innovative proprietary tools supported by in-house experts.
We employ a global workforce of 5,900+ people across 25 jurisdictions and have assets under administration (AUA) exceeding US$857 billion. We work with 13 of the world’s top 15 private equity firms. Also part of the IQ-EQ group of companies are First National Trustee Company, The Private Office and Agama.
Astorg is a leading pan-European private equity firm with over €23 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals.
Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt and Milan.
LONDON, 16 October 2025-/African Media Agency (AMA)/- Backbase, the global leader in AI-powered Banking technology, in partnership with African Banker magazine, has released the second edition of the Africa Digital Banking Experience Series 2025. This latest report, Small Business Banking: Africa’s Next Growth Segment, highlights how African banks are reimagining their role in supporting small and medium-sized enterprises (SMEs) through digital-first solutions.
Drawing on insights from a survey of 203 senior banking executives across 40 African countries, the report provides an in-depth, data-driven analysis of how banks are positioning SME banking at the heart of their growth strategies, leveraging mobile-first platforms, AI-driven lending, and tailored financial services.
Key findings from the report include:
SME banking emerging as a strategic priority: 83% of banks surveyed describe SME banking as “very” or “extremely” important, with significant or major investments planned
Mobile banking dominates SME offerings: 84% of banks now serve SMEs primarily through mobile platforms
Digital onboarding still lags: Only 42% of banks currently offer full digital account opening, highlighting a key bottleneck in SME financial inclusion
Bridging the digital literacy gap: 70% of banks surveyed provide workshops and training to SMEs, underlining their role in accelerating adoption
AI-driven lending on the rise: Nearly half (47.7%) of African banks now offer digital lending, with AI and predictive analytics enabling more inclusive and accurate credit decisions
The report also features real-world examples of how African institutions and fintech innovators are reshaping SME finance. From South Africa’s African Bank integrating AI-powered analytics into its SME platforms to Nigeria’s Moniepoint processing 800 million transactions monthly for small businesses, the case studies illustrate the scale and speed of digital disruption in the sector.
Heidi Custers, Global Strategy & Transformation Director at Backbase, commented: “SMEs are the backbone of Africa’s economies, and digital innovation is finally making it viable for banks to serve them at scale. What this report shows is that SME banking is no longer a niche, it is the next growth engine for the industry. By combining mobile-first platforms with AI-driven insights, African banks are turning financial inclusion into a profitable, sustainable strategy.”
Backbase is on a mission to put bankers back in the driver’s seat — fully equipped to lead the AI revolution and unlock remarkable growth and efficiency. At the heart of this mission is the world’s first AI-powered Banking Platform, unifying all servicing and sales journeys into an integrated suite. With Backbase, banks modernize their operations across every line of business — from Retail and SME to Commercial, Private Banking, and Wealth Management. Recognized as a category leader by Forrester, Gartner, Celent, and IDC, Backbase powers the digital and AI transformations of over 150 financial institutions worldwide. See some of their stories here. Founded in 2003 in Amsterdam, Backbase is a global private fintech company with regional headquarters in Atlanta and Singapore, and offices across London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City.
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.
ABIDJAN, Côte d’Ivoire, 12 September, 2025 /African Media Agency (AMA)/ – Djamo Finances, a subsidiary of the Djamo group and a pioneering digital financial services platform in Francophone Africa, has officially obtained its license as a microfinance institution in Côte d’Ivoire, issued by the Ministry of Finance and Budget.
This regulatory recognition provides Djamo’s clients with an additional guarantee. The company’s governance has also been strengthened to better support and serve the financial needs of its growing customer base.
“Obtaining this license is a key milestone in our mission. It gives us the tools to reinforce customer trust and to become their primary financial partner in managing their daily finances, with regulated and guaranteed services designed to meet local economic realities. Thanks to our digital model, these microfinance services will now be within reach, anywhere, at any time, directly from a smartphone,” said Elfried Didehia, CEO of Djamo Finances.
With this license, Djamo will offer its clients new solutions such as access to credit, interest-bearing savings, and current accounts without limits. These new offerings build on an already strong suite of services that includes salary reception, payments and transfers, budget management, secure savings vaults, and investment. Djamo aims to become the primary financial partner for its clients, providing them with the full range of services they need to manage their finances. For users, this evolution means more simplicity, more security, and more opportunities.
In recent years, Côte d’Ivoire has recorded significant progress in financial inclusion: according to the World Bank, the rate has risen from 41% in 2017 to 58% in 2024. While more people now have access to bank accounts, access to credit and savings remains limited. Djamo’s license is part of this dynamic, enabling millions of people to access credit and savings services, paving the way for more comprehensive and sustainable financial inclusion.
Beyond Côte d’Ivoire, this license reflects Djamo’s Pan-African strategy to build a solid digital financial institution capable of supporting millions of people in their financial journey. Also present in Senegal, where it operates with its digital payment and transfer services, Djamo serves today more than one million users with a seamless, innovative, and 100% digital experience. Building on this milestone, the company reaffirms its vision of creating an accessible, user-centered financial institution
Djamo is a Pan-African digital financial services platform designed to make financial services simple, accessible, and useful to millions of people excluded from the traditional banking system, particularly in Francophone Africa, where fewer than 25% of adults hold a bank account.
Founded in 2019 in Côte d’Ivoire by Hassan Bourgi and Regis Bamba, Djamo provides, through a single interface, a range of solutions including Visa cards, instant transfers, bill payments, budgeting tools, secure savings vaults, and investments.
Driven by rapid growth, Djamo continues its regional expansion and its ambition to become the financial partner of choice in Francophone Africa.
New leader takes reins as region gears up for era of AI and cloud.
JOHANNESBURG, South Africa, September 10th, 2025-/African Media Agency(AMA)/-SAP has appointed Nazia Pillay as its new Managing Director for Southern Africa.
Sergio Maccotta, Senior Vice President at SAP Middle East and Africa South, says: “Our purpose as a business is to help the world run better and improve people’s lives, reflected in our ongoing commitment to transformation and corporate responsibility throughout the continent. Nazia will bring vital expertise and leadership skills to one of SAP’s most important regions as we continue to empower youth, drive innovation within our customers and partners, and build a more inclusive, sustainable future. With companies across Southern Africa gearing up for an era of AI- and cloud-led innovation, we are especially excited to see how Nazia’s leadership will guide how organisations adopt technology as a strategic lever for national development and growth.”
Pillay says she will focus on three core areas in her new role, including a laser-like focus on customers to ensure existing partnerships are strengthened and new ones cultivated, and helping customers prepare for a digital-first, cloud-first world. “Teaming up with our valued customer and partner ecosystem across the region is mission-critical for our business, especially as we showcase SAP’s latest capabilities as an AI-first, suite first technology partner. As a people-focused leader, I have also made it my longer-term ambition to make our local office the best place to work in South Africa.”
The appointment comes as companies across Africa gear up for AI and cloud transformation. A recent report found that AI could revolutionise Africa’s economy and contribute as much as $2.9-trillion to the continent’s economy by the end of this decade.
Research conducted by SAP found widespread challenges with access to AI and other tech skills throughout East, West and Southern Africa. According to SAP’s ‘Africa’s AI Skills Readiness Revealed’ report, six in ten African organisations view AI skills as ‘extremely important’ to their success.
However, all companies surveyed expected to experience some AI-related skills gap in 2025, with nine in ten saying a lack of AI skills is already hurting their organisations through failed innovation initiatives, delays in implementations, and an inability to take on new work.
Pillay joined SAP as a graduate over 20 years ago, and has worked in roles spanning consulting, support, quality management, customer success and, most recently, as the head of the organisation’s regional partner ecosystem. She fundamentally believes SAP has a leading role to play in helping Africa’s public and private sector companies achieve their AI and innovation ambitions.
“Large cloud vendors such as SAP can help offset local skills shortages by providing access to advanced tools managed by global experts. Companies across the region benefit from global insights and best practices while bolstering their internal capacity to achieve higher levels of efficiency, innovation and growth.”
Companies are also increasingly investing in upskilling and reskilling their workforce to meet the demands of a rapidly changing business and technology landscape. “Our research found that nearly half (48%) of African organisations consider upskilling their employees a top skills-related challenge this year. As the pressure to build greater skills depth mounts on companies, vendors such as SAP can be invaluable partners, providing insight, expertise and technical capabilities that help drive successful innovation and transformation.”
Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.
Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.
Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Kenya and South Africa. Absa also has representative offices in the People’s Republic of China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.
For further information about Absa Group Limited, visit www.absa.africa
About SAP
As a global leader in enterprise applications and business AI, SAP (NYSE:SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.
Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/photos. On this platform, you can find high resolution material for your media channels.
For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)
For more information, press only:
SAP Head of Communications Africa, James Wilson at
LAGOS, Nigeria, 8 September 2025/African Media Agency (AMA)/- The 2025 edition of the West Africa Telecommunications Infrastructure Summit & Exhibition (WATISE) has ended in Lagos with a strong call for governments, regulators, and industry players to deepen collaboration, protect telecom infrastructure, and prioritise inclusive digital access across the region.
The event, held at the Radisson Blu Hotel, Lagos, brought together critical stakeholders from the telecommunications, technology, and financial services sectors under the theme “Digitalising West African Economy: Navigating Challenges and Opportunities for Critical Stakeholders.”
In his address, Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), said the telecom sector in West Africa is witnessing renewed growth, with investments at their highest since before the COVID-19 pandemic.
He noted that telecoms remain the backbone of the digital economy, enabling banking, fintech, telemedicine, education, commerce, and emergency services across the region.
Adebayo, however, warned against vandalism, multiple taxation, and Right of Way restrictions that continue to stifle expansion. He commended the Federal Government’s ongoing tax reforms, set to reduce over 56 levies by January 2026, and urged states across West Africa to create enabling conditions for faster digital rollout.
In his goodwill message, the President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr Tony Emoekpere said that , the next ten years will define West Africa’s place in the global digital economy stressing ‘If we build the infrastructure, harmonize policies, and encourage collaboration, we will unlock unprecedented economic growth, create millions of jobs, and give our young population the tools to compete globally.
He noted that investors must recognize that while risks exist, the upside of digital West Africa is unmatched saying that this is a frontier market with the potential of doubling its digital economy contribution to GDP within a decade.
Dr. Nnenna Achife, Head Commercial Business, Business Development, AfriGo Payment Financial Services Limited, speaking on one of the lead presentations, Leveraging Connectivity And Technology To Transform Card Payment System In Africa, revealed how AfriGO is powering card payments through technology and inclusion.
He AfriGo has helped to reduce operating expenses through transparent pricing and billing settlement in local currency as well as support welfare and social Intervention programs via providing access to government social intervention programs.
She added that AfriGo has been supportive of Instant merchant credit and same-day settlement ensure steady cash flow for business operations including promoting cashless economy by encouraging the adoption of affordable electronic payments options, which are (cards).
Achife said that AfriGo is instrumental for the enhanced offline payment to support authorisation where there is limited or unreliable internet access, saying that the Embedded NIBSS Quick Response Code (NQR) has been formidable for the for P2P & P2M payment and collection capabilities.
And in his keynote speech, Mr Adewunmi Adesina, Managing Director of Trade Lenda, the digital bank for SMEs said that there are opportunities for Stakeholders to unlock the full potential of digitalisation, we must act collectively but that Governments must invest in infrastructure and harmonise digital policies across ECOWAS.
He called for private sector players collaboration to build scalable platforms that serve the underserved adding that development Partners must support capacity-building and digital inclusion programs.
Adesina said entrepreneurs must continue to innovate boldly, solving local problems with global ambition saying that at “Trade Lenda, we are proud to be part of this movement providing micro and small businesses with access to credit through digital channels, enabling them to grow sustainably.”
Jameelah Sharrieff-Ayedun, Vice President of FintechNGR and MD/CEO of CreditRegistry, cautioned against the risk of “digital apartheid,” where millions of Africans remain excluded as “digital ghosts” from the formal economy.
She stressed the need for inclusive access to data and credit through innovative use of alternative data sources such as mobile usage and e-commerce, warning that failure to act could turn Africa’s youthful population into a lost economic opportunity.
A fireside chat led by the Chief Executive Officer of WTES Project Limited, Mr Chidi Ajuzie and panel session led by a robotic engineer, Mrs Racheal Anorue highlighted the pressing challenges of rising USSD costs, poor connectivity, and risks faced by mobile agents. Panelists agreed that stronger collaboration, public sensitisation, and technology-driven infrastructure security are key to driving financial inclusion and lowering transaction costs.
At the close of the summit, participants called for:
Protection of telecom infrastructure against vandalism.
Harmonised and enabling policies across ECOWAS states.
Urgent steps to reduce the cost of USSD and digital transactions.
Greater investment in workforce training and digital security.
Regional collaboration to unlock West Africa’s trillion-dollar digital economy potential.
The summit concluded with optimism that with sustained investments, regulatory reforms, and inclusive strategies, West Africa’s telecom and fintech sectors are well-positioned to drive economic transformation across the sub-region.
By Dumisani Kadango, Country Manager, TransUnion Malawi
LILONGWE, Malawi 7 August 2025 -/African Media Agency (AMA)/- Financial inclusion has become one of the most critical building blocks for sustainable economic development, not only in Malawi but across emerging markets. When individuals and small businesses have access to affordable, appropriate, and timely financial products and services, they are empowered to save, invest, manage risk, and improve their quality of life.
Yet in Malawi, a portion of the population still faces challenges in accessing comprehensive financial services. According to the 2023 FinScope Consumer Survey, 88% of Malawian adults are considered financially included, meaning they have access to and actively use formal or informal financial products and services. This marks a major shift from 2014, when 51% of adults were financially excluded. Notably, formal financial inclusion, which refers to the use of services provided by regulated financial institutions such as banks, microfinance providers, and mobile money operators, now stands at approximately 74%, up from 34% in 2014. The most rapid growth has been in the use of mobile money and other formal non-bank channels, which surged from 18% to 73% over the same period. While this progress is impressive, it conceals deeper issues. Only 13% of adults hold traditional bank accounts, down from 27% in 2014. This suggests that although mobile channels have expanded access significantly, reliance on full-service banking remains limited, raising concerns about savings, credit, and financial resilience.
Expanding Access Through Alternative Data
One of the biggest barriers to formal financial inclusion has been the lack of traditional credit information. Conventional lending relies on payslips, collateral, and credit histories, criteria many Malawians, especially informal workers and rural entrepreneurs, cannot meet. The rise of alternative data sources such as mobile money transaction logs, airtime purchases, utility payments, and other digital footprints offers a promising solution. These indicators allow lenders to better assess financial reliability and extend credit responsibly to underserved communities.
At TransUnion Malawi, we are supporting this shift by leveraging data-driven innovation to enable lenders to see beyond traditional credit histories. Through responsible use of alternative data, scoring solutions, and deep consumer insights, we’re working with partners across the financial ecosystem to help unlock access for those historically excluded, without compromising financial stability.
This approach is not merely about approving more loans; it is about responsible lending. When implemented correctly, data-driven credit scoring reduces risk for lenders while opening doors to economic opportunity for those previously excluded from the formal financial system.
Digital Platforms as Vehicles for Empowerment
Mobile phones have become the gateway to financial inclusion in Malawi. Digital platforms are breaking down longstanding barriers and reshaping how individuals engage with financial services. For example, a young entrepreneur in Lilongwe can obtain a microloan through a mobile app, unlocking capital previously out of reach. In Dedza, a smallholder farmer can access weather-indexed crop insurance via SMS, providing protection against climate-related risks. Meanwhile, a student in Zomba can use digital savings platforms to manage finances, monitor spending, and build a financial footprint that supports future borrowing.
These digital tools are more than convenient; they are transformative. Reliable, anytime-anywhere access to financial services through digital platforms reduces the physical, bureaucratic, and psychological barriers that have long excluded many from the formal financial system.
Building Trust and Digital Literacy
Despite growth in access, many remain hesitant to engage with digital financial services due to mistrust, lack of understanding, or prior negative experiences. Financial education and consumer protection are therefore vital.
Technology can serve a dual purpose: facilitating service delivery and providing education. Interactive SMS campaigns, in-app learning modules, and community-based digital training help demystify financial products, clarify terms, and guide users toward informed decisions. Transparency, through digital credit reports, real-time transaction alerts, and clear communication, empowers consumers to understand and manage their own financial profiles. When users grasp how their actions affect their financial futures, they are more likely to engage confidently and responsibly.
The Role of Collaboration
Achieving deep financial inclusion requires collective action. Regulators must craft policies that promote innovation while protecting consumers. Financial institutions need to adopt new models that reach underserved populations. FinTech companies and mobile network operators must develop accessible, user-friendly digital solutions tailored to diverse needs. Civil society organisations play a critical role in advocating for transparency, inclusivity, and representing marginalised voices.
This ecosystem approach ensures inclusion is not just broad but meaningful, enabling financial engagement and resilience. It means every Malawian, regardless of income or location, can participate fully in the economy, saving securely, borrowing wisely, investing in livelihoods, and safeguarding against uncertainty.
Seizing the Opportunity
Technology offers Malawi a unique chance to leapfrog traditional barriers to financial access. However, this promise can only be realised through intentional design, trust-building, collaboration, and ongoing financial education. If stakeholders unite around these priorities, the result will be far more than expanded access, it will ignite durable economic mobility and truly inclusive growth for Malawi’s future.
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.
Backbase and Libyan Islamic Bank go live with a seamless new platform, bringing digital-first banking to Libyan customers.
TRIPOLI, Libya, 5 August 2025-/African Media Agency (AMA)/- Backbase, the global leader in AI-powered banking technology, today announced the recent successful platform launch of Libyan Islamic Bank (LIB), one of the country’s fastest-growing financial institutions. This achievement represents Backbase’s first platform launch in Libya, underscoring its commitment to expanding state-of-the-art, customer-centric banking across North Africa.
From ambition to impact
As a digitally focused bank, LIB set out to differentiate itself through an experience-led approach to banking. In collaboration with Backbase, the bank laid the groundwork for a customer-first operating model that is built for speed, flexibility, and long-term relevance in a rapidly evolving market.
Mohamed Almabrok, Digital Banking Platform Project Manager, Libyan Islamic Bank, expressed his enthusiasm: “This is a proud moment for us. With Backbase, we are transforming banking for our customers, bringing financial services closer to them with the convenience, security, and accessibility of world-class digital banking.”
A redesigned experience for everyday banking
The new mobile app offers a more intuitive way for customers to manage their finances, with features such as:
Secure logins and real-time transaction tracking
Internal transfers and in-app messaging
Personalized servicing and customer self-service capabilities
Instant payments and ATM/branch locator functionality
A clean, user-friendly interface designed for daily use
As part of the launch, LIB also became one of the first banks in the country to integrate with LYPAY, the Central Bank of Libya’s instant payment service. This showcases the agility of the platform in meeting new regulatory and infrastructure demands.
“The successful launch of Libyan Islamic Bank’s digital platform is setting new standards for digital-first experiences,” said Aymen Daoud, Regional Vice President for Africa at Backbase. “It reflects the bank’s ability to lead and evolve in Libya’s rapidly changing financial sector.”
Local knowledge, global technology
The go-live was delivered through a close collaboration between Backbase and regional implementation partner OneTech Business Solutions. OTBS played a vital role in aligning the deployment with LIB’s specific needs and Libya’s regulatory environment, helping ensure speed, stability, and long-term scalability.
“This project shows what’s possible when global technology meets local execution,” said Atef Loukil, Deputy CEO and Head of Digital Factory at OneTech Business Solutions. “Working closely with Backbase and Libyan Islamic Bank, we ensured a seamless deployment that reflects the realities of the Libyan market. It’s a strong example of how partnership drives real digital transformation.”
Built for what comes next
This launch represents the first phase of LIB’s longer-term digital transformation roadmap. With a strong digital foundation now in place, the bank is positioned to respond to evolving customer expectations and continue modernizing its services at scale.
Backbase’s successful entry into Libya also marks a strategic expansion point in North Africa. The company remains committed to helping banks of all sizes modernize at speed, through adaptive technology, regulatory alignment, and seamless customer experiences, all powered by its AI-powered Banking Platform.
Backbase is on a mission to put bankers back in the driver’s seat — fully equipped to lead the AI revolution and unlock remarkable growth and efficiency. At the heart of this mission is the world’s first AI-powered Banking Platform, unifying all servicing and sales journeys into an integrated suite. With Backbase, banks modernize their operations across every line of business — from Retail and SME to Commercial, Private Banking, and Wealth Management.
Recognized as a category leader by Forrester, Gartner, Celent, and IDC, Backbase powers the digital and AI transformations of over 150 financial institutions worldwide. See some of their stories here.
Founded in 2003 in Amsterdam, Backbase is a global private fintech company with regional headquarters in Atlanta and Singapore, and offices across London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City.
About Libyan Islamic Bank
Libyan Islamic Bank, is an Islamic financial institution based in Libya with a capital of 500 million Libyan dinars, established since 2017. Operating in line with the provisions and legislations of Islamic Sharia, the bank primarily focuses on retail and corporate segments, striving to provide services that adhere to the highest standards of Islamic banking. For more information, visit https://www.lib.com.ly/
About Onetech Business Solutions
OneTech Business Solutions (OTBS) is one of the leading IT and telecom integrators in Tunisia, with over 30 years of experience serving enterprise and financial clients. OTBS has built a strong reputation for delivering high-value, integrated technology solutions—from network infrastructure, cybersecurity, and datacenter systems to unified communications and enterprise collaboration.
In recent years, OTBS has expanded its expertise into software and digital services, with a particular focus on the financial sector. We support banks across EMEA in their digital transformation through the delivery of robust digital banking platforms. Our teams bring proven expertise in integrating with core banking systems, implementing omnichannel, customer-centric journeys, and ensuring compliance with local financial regulations. As a certified integration partner of Backbase, we deliver scalable and secure solutions tailored to each client’s strategic goals.
This unique positioning enables banks to offer secure, innovative, and user-centric financial services to their customers—accelerating their digital transformation with confidence.
, enabling clients to unlock new value and drive industry-specific transformation.
