Mobile Money News

Shameel Joosub, CEO, Vodacom

South Africa's Vodacom to buy 35% Of Kenya's Safaricom from parent Vodafone

Southern African telecoms giant Vodacom Group will buy a 34.94% stake in Kenyan operator Safaricom – known for its ground-breaking M-Pesa mobile money system.

afaricom hopes to spread across Africa. Credit: Reuters/Noor Khamis

Safaricom is planning to expand M-Pesa mobile money across Africa

Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.

Ismail Ahmed, Founder & CEO, WorldRemit

WorldRemit Africa revenue to double by 2020 on mobile money, says Founder & CEO Ismail Ahmed

Higher-paid African expatriates sending cash to home countries. Money-transfer company has Facebook backer Accel as investor.

Lamin Manjang, Chairman of the Kenya Bankers Association (KBA)

Kenya sets sights on green bonds after mobile phone issue

Kenya aims to issue its first ‘green’ bond this year, the initiative’s backers said on Friday, bolstering the nation’s reputation for financial innovation after the government launched the world’s first mobile phone bond earlier this month.

Kenya to offer mobile-only bond to investors

Kenya to offer mobile-only bond to investors

Kenya will start selling a mobile-phone based government bond this week, the Treasury said on Tuesday, the culmination of a lengthy plan to tap a new pool of investors into government securities.

Kenya telecoms regulator says has no intention to split company. Credit: qz.com

Kenya telecoms regulator says has no intention to split Safaricom

Kenya’s telecoms regulator said on Tuesday it had no plans to break up any company in the sector.

Bob Collymore, CEO, Safaricom

Vodafone slams proposed split of Kenya's M-PESA as 'ridiculous'

Safaricom Ltd, East Africa’s biggest mobile-phone company, would have to reconsider future investment in Kenya if proposals to break up the company are implemented.

Private equity firm TA Associates announces minority investment in Interswitch

Private equity firm TA Associates announces minority investment in Interswitch

TA Associates, a leading global growth private equity firm, announced on Monday it has acquired a minority equity interest in Interswitch, an Africa-focused integrated digital payments and commerce company.

Safaricom faces break-up call from Kenyan lawmaker

Safaricom faces break-up call from Kenyan lawmaker

A Kenyan lawmaker proposed breaking up Safaricom, the country’s biggest telecoms operator, on Tuesday because of its role in providing mobile financial services.

PesaLink - Kenyan banks have joined forces to launch a mobile money rival to M-PESA

Kenyan banks have joined forces to launch a mobile money rival to M-PESA

Nearly ten years after its launch, M-Pesa finally has what could be a major competitor in the multi-billion dollar mobile money transactions business.

More Nigerians are embracing electronic payments

More Nigerians are embracing electronic payments (Infographics)

Five years after Nigeria’s Central Bank (CBN) launched its Cash-less Nigeria project to reduce the amount of physical cash circulating in the economy, it is finally catching on.

First Bank of Nigeria ATMs

How Nigeria's banks are innovating

Nigeria’s relatively significant exposure to the oil and gas sector increased pressures on balance sheets and operations.

Bob Collymore, CEO, Safaricom

Safaricom's M-PESA has Kenya's government worried what happens in the event of a crash (Infographic)

At the time of M-Pesa’s launch in 2007, few could have conceived the mobile money service would be as ubiquitous and deeply entrenched in the lives of millions of Kenyans as it is today.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Kenyan banks want a bigger share of the mobile money action. Credit: qz.com/Reuters/Thomas Mukoya

Kenyan banks are closing in on what they think will be the perfect M-PESA disruptor (Infographic)

Early next year, Kenyan banks are expected to unveil a digital and mobile money transfer platform to rival M-Pesa’s longstanding dominance as the scramble for cashless payments intensifies.

Nigerian Fintech Startup Paystack Raises $1.3 Million

Nigerian Fintech Startup Paystack Raises $1.3 Million

Paystack, one of Nigeria’s most hotly anticipated tech start-ups, has just secured $1.3M Seed investment from both international and homegrown investors.

The race to fix Nigeria's payments problem just received a big boost

The race to fix Nigeria's payments problem just received a big boost

Making online transactions is a process taken for granted as one of the natural offshoots of deeper internet penetration.

Bob Collymore, CEO, Safaricom

Safaricom in talks with five firms on M-PESA's future

Mobile service provider Safaricom has announced that it is in discussions with five companies to broaden the availability of M-PESA services.

Mark Zuckerberg's trips to Nigeria and Kenya track tech's growing interests on the continent

Mark Zuckerberg's trips to Nigeria and Kenya track tech's growing interests on the continent

After a surprise Nigeria visit to meet with techies in Lagos, Mark Zuckerberg took his Africa tour to Kenya this Thursday.

Mark Zuckerberg has made a surprise visit to Nairobi to learn about mobile money

Mark Zuckerberg has made a surprise visit to Nairobi to learn about mobile money

On his surprise tour of tech hubs in Africa, Mark Zuckerberg has made a pit stop in Nairobi.

Paga agent: Mobile money is catching on. Credit: qz.com

Nigerians are finally using mobile money services

It took a while to catch on but Nigerians are finally using mobile money. Over the past decade, financial institutions and telecoms operators, sometimes in collaboration, as well as standalone firms have tried to deploy mobile money services in Africa’s largest economy with mixed success.

Mobile Economy - Africa 2016: GSMA

The mobile economy - Africa 2016: GSMA (Infographics & Report)

At the end of 2015, 46% of the population in Africa subscribed to mobile services, equivalent to more than half a billion people. The region’s three dominant markets – Egypt, Nigeria and South Africa – together accounted for around a third of the region’s total subscriber base.

Safaricom & M-PESA - An African Growth Story

Safaricom & M-PESA - An African Growth Story: Peter C. Thoms, Founder, Africa Capital Group

One of the larger holdings in our Africa strategy is Safaricom, the dominant mobile communications provider in Kenya.

What Africa's banking sector needs to do to survive

What Africa's banking sector needs to do to survive: Ndubuisi Ekekwe, Founder, African Institution of Technology

Across Africa, banking is being redesigned. Technology has emerged as a competitive weapon in driving operational excellence and superior service quality.

Bob Collymore (Right), CEO, Safaricom. Safaricom launched Uber rival Little Cabs earlier this month. Credit: techcrunch.com

In Kenya, Safaricom's Little Cabs app goes head to head with Uber

Even as a deal is imminent between Uber and its closest competitor Didi Chuxing in the immense Chinese market, competition in ride-sharing continues to intensify around the globe.

Africa tops 500M mobile users, adds $150B to economy

Africa tops 500M mobile users, adds $150B to economy (Infographic)

Africa now has half a billion mobile users, and the mobile ecosystem added $153-billion to the African economy in 2015, according to a new GSMA study, which predicts smartphone numbers will triple in the next five years.

M-PESA customers will soon be able to use debit cards for quicker transactions. Credit: Reuters/Thomas Mukoya/qz.com

Safaricom's M-PESA is getting its own debit card to compete with banks

Safaricom, parent of the M-PESA mobile money platform, is eyeing a piece of the $13.5 billion in annual transactions in Kenya’s payment cards industry with a new debit card.

News Featured News Startups Technology

Online shopping startup MallForAfrica partners with e-commerce giant eBay

American eBay sellers will soon gain access to Africa’s biggest consumer markets.

Here are 7 predictions for Africa's tech sector

Here are 7 predictions for Africa's tech sector

As Africa transitions from the margins to the mainstream of the global economy, technology is playing an increasingly significant role.

Cape Town, South Africa. Photograph: Eric Nathan/Alamy

A New Map for Business in Africa

Only a few years ago, Africa was being dubbed “the next Asia,” and multinationals watched with mounting interest as local economies boomed across the continent.

6 reasons to invest in Africa

6 reasons to invest in Africa: Tarek Sultan, CEO & Vice Chairman, Agility

The conversation about Africa is shifting from one of “deficits” and “gaps” to one about opportunities, prospects, ventures and creativity.

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”.

South Africa's MTN bets on mobile banking with new CEO

South Africa's MTN bets on mobile banking with new CEO

MTN’s new chief executive Rob Shuter has been brought in to boost profits at Africa’s biggest mobile phone group after a $1.7 billion fine in Nigeria, by persuading its 200 million clients to use their handsets to store money and pay bills.

With Kenya's Safaricom, Uber will face a rival it won't be able to beat so easily

With Kenya's Safaricom, Uber will face a rival it won't be able to beat so easily

In Africa, local taxi companies and startups have been working hard to compete with Uber but the ride hailing company has managed to outmaneuver most of them.

Kenya's Safaricom to launch local rival to Uber.

Little Cabs: Kenya's Safaricom to launch local rival to Uber

Kenya’s biggest telecoms company Safaricom is joining up with a local software firm to launch a ride-hailing company to take on Uber as it seeks new sources of revenue, its CEO said.

As it expands in Africa, Uber adapts to local markets and adopts cash payments

As it expands in Africa, Uber adapts to local markets and adopts cash payments

While Uber continues its push into Africa the company is making allowances to local markets and testing unique service models users wouldn’t see in other parts of the globe.

Interswitch: Africa’s first ‘unicorn’? Credit: eyefortravel.com

Interswitch: Africa's first 'unicorn'?

An integrated digital payments and transaction processing company in Nigeria has travel companies queueing up, writes Sally White.

At the regional finals of the third annual Challenge Cup, hosted this year in Nairobi. Credit: Christopher M. Schroeder/recode.net

Startup Rising Africa

It’s hard to get more American than generalizing Africa as one big homogenous thing. It is, of course, a rich and diverse continent of more than 50 nations, where merely a piece of it — say from Kenya to Nigeria — is a greater distance than the entire United States.

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets. Credit: sokopay.com

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets

From Nigerian fintech to East African fiber, several exciting and diverse companies are emerging as IPO contenders in Africa’s rapidly growing Technology, Media & Telecommunications (TMT) sector, according to specialist news provider TMT Finance.

Ebi Atawodi, General Manager, Uber Nigeria

How Uber is changing life in Nigeria (Video)

Few things affect life in Lagos like traffic. However, Ebi Atawodi, Uber‘s General Manager in Nigeria, thinks Uber is making a difference in people’s lives.

Shiv Arora, Head of Private Equity Real Estate, Cytonn Investments

Local banks knock off foreign dominance in Kenyan market: Shiv Arora, Head of Private Equity Real Estate, Cytonn Investments

Kenyan banks have knocked off foreign dominance in the market posing a risk for the latter to exit the market if they fail to change their strategy.

In partnership with mobile money platform M-PESA, KCB disburses one loan every eight seconds.

Fact of the Day: Kenyan bank KCB disburses one loan every eight seconds

Bid farewell to long lines at the teller window. Brick and mortar bank branches will soon be going the way of the dinosaur.