Payments News

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Deals

Orange invests in SA fintech provider

“The African investment arm of French telecommunications giant Orange has announced financing for South African fintech company Yoco. Launched in 2015, the company provides mobile credit card payment facilities to small businesses and is seeking to expand across sub-Saharan Africa, funding for which has come through a round of finance driven by investment fund Partech, with involvement from Dutch bank FMO, […]
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Companies

China’s payments giant is ready to boost financial inclusion in Africa

“In a partnership with the United Nations Economic Commission for Africa (ECA) along with the International Financial Corporation, the firm says it will promote digital financial inclusion in the continent through investments and technical assistance. The offering will target smaller businesses and would look to cater to largely unserved consumers, including displaced people and refugees with no […]
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Global

Orange And MTN Partner For Mobile Money Platform Mowali

“Two of Africa’s largest mobile operators and mobile money providers, Orange Group and MTN Group, today announced a joint venture, Mowali (mobile wallet interoperability), to enable interoperable payments across the continent. Mowali makes it possible to send money between mobile money accounts issued by any mobile money provider, in real time and at low cost.”
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Companies

Flutterwave and Alipay Partner on Payments Between Africa and China

“San Francisco and Lagos-based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad… “This means that all our merchants can accept or install Alipay […]
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Global

Africell to Spend $100 Mln on Mobile Infrastructure, Fintech in Africa

“African telecom firm Africell plans to spend part of a $100 million U.S. credit line on expanding its infrastructure and fintech services, its chief executive said on Friday. The 18-year-old company, which has 15 million subscribers across its four African operations, secured the loan in May from the Overseas Private Investment Corporation (OPIC), the U.S. […]
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Deals

Mastercard to Join Investors in Online Retailer Jumia : The Standard

“Jumia Technologies AG said Mastercard Inc has agreed to invest Sh5.6 billion (50 million euros or $56 million) in a private placement ahead of the Africa-focused online retailer’s planned initial public offering in New York.The US credit-card giant joins shareholders such as French drinks maker, Pernod Ricard SA, which bought a 5.1 per cent stake […]
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Global

Nigeria’s Largest Mobile Operator Is About to Become a Bank

“The fledgling mobile money market in Nigeria is about to get a major shake-up. MTN Nigeria, the country’s largest telecoms operator, has been granted a “super agent” license which allows it set up an agent network through which it can provide financial services. It’s the first step in MTN’s plans to finally roll out mobile […]