Search Results for: remittance
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News
NCBA Expands Global Remittance Network With Xpress Money Partnership
About a month after partnering with Tanzanian fintech NALA to enhance the remittance process across Africa, NCBA Bank has announced…
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Startups
Africhange Secures IMTO Licence to Streamline Remittance to Nigeria
Africhange announced today that its Nigerian subsidiary, Currenzo, has secured the International Money Transfer Operator [IMTO] licence from the Central…
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News
Social Commerce Platform ChitChat Launches Global Remittances Feature
ChitChat, the African social commerce platform has launched a new remittance feature, which enables seamless cross-border money transfers across 13…
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BUSINESS
NCBA taps fintech firm NALA to enhance remittances to Africa
NCBA Bank has onboarded NALA Payments Limited, a Tanzanian fintech company specialising in remittance services to Africa to improve the…
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News
Safaricom, Mastercard partner to boost remittances, payments for Kenyan Merchants
Safaricom and Mastercard have signed a partnership with an aim to accelerate the adoption of payment acceptance and cross-border remittance…
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Startups
Payment startup Sendsprint acquires US-based Nobel Financial enhance remittance services to Africa
Fintech startup Sendsprint has announced the full acquisition of Nobel Financial, a US-based global remittance service provider. The acquisition will…
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BUSINESS
TerraPay secures $95 million debt to financing to boost African remittances
African digital payments platform TerraPay has successfully closed a $95 million debt financing round. The financing was led by a…
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News
Nigerian remittance services provider Africhange launches in the UK
Africhange, a Nigerian remittance services provider has launched its operations in the United Kingdom (UK). The platform which can be…
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News
Mpesa Ethiopia, Dahabshiil, sign diaspora remittance partnership
African money transfer company Dahabshiil has signed a partnership with M-Pesa Safaricom Ethiopia to facilitate remittances for Ethiopian diaspora The…
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News
dLocal secures remittance services partnership with KCB Bank
dLocal KCB Partnership: More than a year after securing payment service provider licences from the Central Bank of Kenya (CBK)…
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BUSINESS
Investment bank predicts Africa’s remittance market will reach $500bn by 2025
Remittances comprise a significant portion of African Gross Domestic Product (GDP), with the total value of remittances across the continent…
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News
CBK approves LemFi’s Remittance to Kenya in partnership with Flex Money Transfer
LemFi, the cross-border payment solution that enables the diaspora community to send and receive money back home has received additional…
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BUSINESS
Equity Bank and Mastercard sign remittance deal
Digital payments firm Mastercard has entered into a partnership with Equity Bank to enable the bank’s customers to send money…
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Startups
LemFi receives regulatory approval to offer remittance services in Kenya in partnership with Wapi Pay
LemFi, the cross-border payment solution that enables the diaspora community to send and receive money back home has received approval…
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BUSINESS
Coronation Group, Access Holdings partner with M-Pesa for regional remittances
Safaricom and M-Pesa have entered into a strategic collaboration with Coronation Group, Access Holdings Plc to broaden access to remittances…
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BUSINESS
M-PESA partners with Onafriq for international remittances to Ethiopia
Safaricom has today announced an International Money Transfer Agreement with Onafriq, Africa’s digital payments network to help streamline remittance flows…
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News
Airtel Africa and Mastercard launch new cross-border remittance transfer service
Airtel Africa and Mastercard announced the launch of a new cross-border remittance service that will enable Airtel subscribers across 14…
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News
Safaricom’s M-Pesa targets remittances to Southeast Asia with new TerraPay partnership
Safaricom has partnered with TerraPay, to enable more than 32 million M-PESA customers to send and receive money to more…
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Startups
LemFi launches its diaspora remittance services in Kenya
LemFi, the cross-border payment solution that enables the diaspora community to send and receive money back home has formally launched…
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BUSINESS
M-PESA partners with Amazon in rush for the global remittance market
M-Pesa, Safaricom’s highly-regarded mobile money remittance service has signed a new strategic partnership with American e-commerce giant Amazon to provide…
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News
Nigerian Fintech Kuda Wants To Make Remittance From UK To Africa Cheaper
As remittances to Africa increase, several firms are finding ways to make it easier, cheaper and more convenient to send…
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News
KCB and TerraPay partner to enhance cross-border remittances
KCB Bank Kenya customers will now be able to seamlessly receive funds from the diaspora to their accounts in Kenya,…
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News
Tanzania’s fintech NALA enters Kenya, inks diaspora remittance deal with Equity Bank
Tanzania-based fintech startup NALA has partnered with Equity Bank Kenya for diaspora remittance. This partnership will allow Kenyans living in…
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News
Absa Bank Kenya and Visa Launch a Money Remittance Service
Absa Bank and global payments company Visa have today launched a payment solution aimed at easing local and cross-border transactions.…
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Startups
SA Remittance Fintech Mama Money Aims to offer Lowest Transfer Charges
Fintech startups in Africa are doing a spectacular job at revolutionizing remittances, accessibility, saving, and the whole culture surrounding finances.…
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News
Tanzania’s fintech NALA partners with Cellulant for diaspora remittance
Tanzania-based fintech startup NALA has partnered with Pan-African payments company, Cellulant to power payments from the United Kingdom and the…
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BUSINESS
Blockchain-powered fintech Telcoin expands its digital remittance service to 15 new markets including Kenya
Telcoin, a blockchain-powered fintech disrupting the US$700 billion international remittance industry, has extended its digital money transfer service to 23 additional mobile…
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News
Flutterwave Partners with Amole to Facilitate Remittances into Ethiopia
Flutterwave has partnered with Ethiopia’s mobile Digital Wallet platform, Amole, to facilitate money transfer into Ethiopia. Through this partnership, Amole Wallet…
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BUSINESS
Visa and TerraPay partner to drive domestic remittances
Visa and TerraPay, a payments infrastructure company have announced a new partnership to drive domestic remittance. The two companies will develop…
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BUSINESS
Intra-African remittances to soar to record numbers in 2020, says WorldRemit
Online international money transfer company WorldRemit predicts that 2020 will be the year of intra-African remittances. The World Bank already…
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BUSINESS
Consumer benefits of using fintech for diaspora remittance
For most Kenyans living abroad, sending money back home can at times be a costly and a complicated ordeal. Traditionally,…
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BUSINESS
Equity Bank’s diaspora remittance volumes hit Sh100 billion in just nine months
Equity Bank’s diaspora remittance volumes hit Sh100 billion in the nine months to September. This helped boost the lender’s forex…
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BUSINESS
[Column] Fintechs are disrupting the local traditional remittance market
Data from the Central Bank of Kenya (CBK) shows that diaspora inflows in the country rose to Ksh30.4 billion ($295.3…
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BUSINESS
SwitchLink Africa – Leveraging technology to drive efficient remittance
Latest data from the Central Bank of Kenya (CBK) indicates that Kenyans living and working abroad sent home Sh67.16 billion…
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News
Report: Remittance income will drive economic growth for Africa
Despite an economic slowdown, most African countries are reported to have a positive economic outlook. This is according to ICAEW’s…
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COLUMNS
Explaining the High Cost of Remittance to African Countries
The World Bank recently released a study report with findings that the cost of remitting cash to African nations is…
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News
How to save money with remittances to Africa
International money transfers to Africa are rising. There are good reasons for that. With the choice of the right online…
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BUSINESS
Mobile to mobile remittances opens gain of up to Shs.10b on UK transfers to Tanzania alone
WorldRemit has today announced mobile to mobile remittances to Tanzania can cut the overall costs of remittances for both the…
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BUSINESS
Kenyans abroad are the biggest senders of mobile to mobile remittances
Kenyans in the diaspora are the biggest senders of digital remittances to mobile accounts. This is according to new data…
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News
International value remittance service Ozaremit rebrands to Senditoo
First rising airtime transfer startup Ozaremit has rebranded to Senditoo. The UK-based company has also announced that it has developed…
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Startups
International value remittance service Ozaremit secures funding from top French investors
International value remittance service Ozaremit has secured funding from French investors Thibaults Launay, Romain Girbal and Célia Grémy to boost…
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BUSINESS
Co-op Bank and SimbaPay partner to offer Diaspora Remittances
The Co-operative Bank of Kenya has today announced a new partnership with SimbaPay to offer international money transfer services to…
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News
Kenya’s BitPesa launches beta test of remittance service
Kenya’s BitPesa has launched in beta test to allow Kenyans living in abroad to send money back home with…
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News
Lowering Infrastructure Costs Key To Boosting Financial Inclusion In Africa
Musa lives in a bustling city in Nigeria. He uses his smartphone daily to make payments, send money to relatives,…
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News
Changing Global Trade Patterns Will Enhance Cross-Border B2B Payments in Africa
Changing global trade patterns and the emergence of new payment solutions will drive significant growth in cross-border B2B payments in…
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News
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Safaricom Extends Its M-Pesa Global Service to Ethiopia
MPESA Kenya users can now send mobile money to MPESA Ethiopia users through Safaricom’s MPESA International Remittance, as long as…
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Startups
Why Now Is a Good Time to Invest in Venture Capital in Africa
The African venture capital ecosystem has encountered significant headwinds in recent times. According to research firm Africa: The Big Deal,…
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Blockchain
Tether invests $1.5 million in Sorted Wallet to enhance financial inclusion
Blockchain-enabled platform, Tether, has announced a strategic investment of $1.5 million (Sh. 193.4 million) in Sorted Wallet, a platform designed…
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News
NCBA collaborates with SACCOs to enhance cybersecurity measures
NCBA on Monday hosted its SACCO Banking Division customers in a forum focused on helping them bolster their defenses against…
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News
NCBA invested $31m in 2023 on cybersecurity
NCBA Bank has announced that it invested nearly $31 million in 2023 to strengthen and enhance its cybersecurity infrastructure. Speaking…
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News
Ethiopia boosts digital financial services with its first virtual Visa card
Ethio telecom has partnered with Visa to launch Ethiopia’s first wallet-based Virtual Visa Card. The partnership which was announced on…
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BUSINESS
NCBA Embarks on a Diaspora Banking Market Activation across the US
NCBA Bank has kicked off a one-month-long market activation across multiple states in the United States to engage with the…
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BUSINESS
How Africa’s largest payments network is integrating social mission with its business aspirations
Being deliberate about creating a “greater purpose” is essential to building an authentic corporate culture, engaging stakeholders, and navigating the…
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BUSINESS
Growth opportunities for African fintech abound, especially in South Africa
The fintech landscape in Africa is experiencing a surge in growth opportunities, with South Africa emerging as a key player…
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Startups
Cellulant announces new executives appointments
African payments firm Cellulant has announced the appointment of several leading executives to its management team. The company said in…
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News
Equity Bank to discontinue its EazzyBanking App in March
Equity Bank has announced that it will discontinue its EazzyBanking App, which was its pioneer mobile banking application, first unveiled…
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News
Mastercard acquires minority stake in MTN’s fintech business for $200 million
Global payment-technology corporation Mastercard has completed the acquisition of a minority stake in MTN Group’s fintech business. The acquisition comes…
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News
Fintech platform Alviere expands its reach to 500 million mobile wallets in Africa
Alviere, the embedded finance platform provider, has announced that Onafriq, Africa’s digital payments network, has chosen it to enable payments…
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News
Copia, Visa partner to deliver digital finance services Kenyan households
Copia Global, the Kenyan last-mile delivery and eCommerce platform has entered into a strategic partnership with Visa. The 5-year partnership,…
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News
MFS Africa partners with Madagascar’s MVola for international money transfers
Pan-African digital payments network, MFS Africa, has partnered with Mvola, Madagascar’s leading mobile money provider, to facilitate inbound international money…
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News
KRA unveils online auction after successful pilot
After successfully running a pilot which saw it collect Kshs 37.5 million, the Kenya Revenue Authority (KRA) on Monday unveiled…
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News
Fintech startup Sendwave targets Kenyans in the US with new banking product
Fintech startup Sendwave has unveiled a new product that will allow users to earn interest and pay reduced fees on…
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News
KRA collected Sh.5.3 Billion from the digital economy for 2022/23 financial year
Kenya Revenue Authority (KRA) collected Shs 5.328 Billion from the digital economy in the financial year 2022/2023. This is a …
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News
Risana Zitha: B2B payments set to be the next focus for VC’s in Africa
Africa’s $1.5 trillion B2B payments market is ripe for innovation and represents a golden opportunity for investors and entrepreneurs looking to…
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News
[Kenya] Fintech firm LemFi picks comedian Njugush as its brand ambassador
Fintech startup LemFi (Formerly Lemonade Finance) has announced comedian Njugush as its brand ambassador after launching its services in Kenya…
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Blockchain
Yellow Card and Tether Join Forces to Drive Stablecoin Adoption in Africa
Pan-African fintech and cryptocurrency exchange Yellow Card and Tether, the stablecoin provider have completed Phase 1 of their strategic collaboration…
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News
Safaricom granted mobile money license to launch M-Pesa in Ethiopia
Safaricom has announced that it has officially been granted a mobile money license to launch M-PESA in Ethiopia. Since launching…
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News
Safaricom to launch M-Pesa in Ethiopia this year
Safaricom has revealed that its mobile money service M-Pesa will go live in Ethiopia this year. Dilip Pal, Safaricom’s chief…
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News
Payday re-launches in Rwanda, partners with Starlink to enable internet access
Pan-African payments startup PayDay has re-launched in Rwanda and announced a partnership that will enable Startlink customers to purchase their…
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News
Flutterwave selects Nairobi, Kenya as its regional headquarters for East Africa
Flutterwave, the African fintech firm is setting up its regional headquarter for East Africa in Nairobi Kenya. This announcement was…
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News
dLocal launches new payment platform to boost African e-commerce transactions
dLocal has announced the launch of a new all-in-one payment solution to manage global platform payments in one place. Known…
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News
Flutterwave Secures Two Additional Licenses to Operate in Rwanda
Nigerian remittance company Flutterwave has announced that it has received its Electronic Money Issuer and Remittance Licenses from the National…
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News
African fintech Chipper Cash reportedly searching for a buyer
Nigerian remittance company Chipper Cash is reportedly considering a sale, according to a report by Bloomberg. The company, which is…
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News
Jumia Kenya CEO takes up new role at South African fintech Mukuru
Less than a year after taking over from Betty Mwangi as Jumia Kenya CEO, Juan Seco has left the company.…
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BUSINESS
Western Union, MFS Africa partner to enable money transfers mobile wallets across Africa
MFS Africa has partnered with Western Union to enable individuals and businesses across the continent to receive money from over…
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News
CBK to launch DhowCSD, a digital platform for purchase of Treasury Bills and Bonds
Kenyans will from next month be able to buy government securities from a digital platform known as DhowCSD. The system…
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News
Ethiopia sets $150 million license fee for M-pesa entry
The telecommunications landscape in Ethiopia has largely lagged behind its neighbors, owing to strict observance of monopolistic regulations. Until Safaricom…
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News
Kenyan fintech Kwara acquires software company IRNET from KUSCCO for an undisclosed sum
Kenyan fintech firm Kwara has acquired IRNET, a software company which is a subsidiary of the Kenya Union of Savings…
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News
Tanzania’s fintech NALA has expanded to 19 European countries
NALA, a Tanzanian fintech startup known for its remittance services to Africa has expanded to 19 more European countries. The…
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News
Visa to accelerate Africa’s digital transformation with $1 billion investment
Global payments company Visa has pledged to invest $1 billion in Africa to accelerate digital transformation over the next five…
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Blockchain
Crypto regulation in Africa: What Good Regulation Looks Like
Millions of investors have been drawn to cryptocurrency by the prospect of rising prices. To this end, a growing number…
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News
Fintech firm MFS Africa granted payments licenses to operate in Uganda
Financial services provider MFS Africa has been granted licenses to operate in Uganda as a PSP (Payment Service Provider), PSO…
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News
Vodacom Tanzania has expanded M-Pesa to 8 SADC Countries
Tanzania’s leading telecommunications company Vodacom has announced the expansion of its International Money Transfer (IMT) services to eight new countries…
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News
Kenyans in the diaspora can now pay bills on M-PESA via NALA Money
Tanzanian fintech startup NALA which was launched in 2018 to enable Africans in the diaspora easily send money home has…
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News
MFS Africa selects ThetaRay to monitor transactions and screen for sanctions
Digital payments network MFS Africa has selected ThetaRay to protect its growing network of services against financial crimes. ThetaRay, a…
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News
Safaricom officially goes live in Ethiopia
About 16 months after winning a telecom license to operate in Ethiopia, Safaricom has today finally gone live in the…
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News
Jeremy Awori Joins Pan-African lender Ecobank as new CEO
After nearly a decade at the helm of Absa Bank, CEO and Managing Director Jeremy Awori will be leaving the…
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News
Nigeria’s blockchain startup Bitmama has raised $2 million to scale across Africa
Bitmama is a Nigerian blockchain company that aims to democratize the payment system across the continent. The startup has remote…
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Startups
Digital banking app for African immigrants Waya officially launched
Waya, a digital banking app that seeks to make it easier for African immigrants to send money back home is…
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Startups
Nigerian fintech Grey raises $2M to simplify cross-border payments across Africa
Grey, a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans, has raised $2 million…
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Interviews
[Interview] Africa is central to our long-term growth strategy, says Visa CEO
AI Kelly is the Chairman and CEO of the global payments firm Visa. He joined Visa in October 2016 as Chief Executive Officer and…
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BUSINESS
Absa Bank Kenya introduces online account opening platform
Absa Bank Kenya will spend nearly Ksh. 2 billion on upgrading its digital systems to improve customers’ banking experience. Among…
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News
Technology and innovation at the core of Equity Bank’s success
Africa is undergoing a season of rapid growth, characterized by innovative ideas that are crafting solutions to local problems. This…
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News
Fintechs are set to transform cross-border payments in Africa, says Ukheshe Technologies
For centuries people have crossed borders to live, work, and trade. While cross-border payment systems are crucial for financial inclusion…
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News
Nigerian fintech startup founders jailed in the United States for money laundering
Nigerian-born, US-based founders of a money-remittance fintech Ping Express have been handed a 27-month sentence in the United States after…
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Startups
Celo Announces New Web3 Fund for African Startups Adopting Crypto Strategies
Celo has launched a new programme to support African startups across payments, remittances, virtual assets, savings, and related financial services.…
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BUSINESS
Fintech Company WorldRemit Ranks Kenya Among its Top 3 Markets In Africa
WorldRemit, a global money transfer company with a presence in over 130 countries has placed Kenya among its top 3…
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BUSINESS
Airtel Tanzania and WorldRemit partner for international money transfers
Airtel Tanzania is partnering with payments company WorldRemit to enable Airtel Money customers in the country to send and receive…
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News
Visa’s innovation studio in Kenya to offer virtual cards for local banks and fintechs
A couple of weeks ago, digital payments leader Visa opened its first African Innovation Studio in Kenya. The new studio…
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News
Safaricom to launch M-pesa in Ethiopia after new law changes
There is a wave of transformation sweeping across the telecommunications sector in Ethiopia. It started with reforms effected by Prime…
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Startups
Luno launches investment arm to support fintech and crypto startups
Cryptocurrency exchange platform Luno, a subsidiary of Digital Currency Group (“DCG”), today announced the launch of Luno Expeditions, an early-stage…
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