Payments News

On The Web

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Deals

MTN targets valuation of at least $5bn for mobile money arm

“South Africa’s MTN, the continent’s biggest mobile phone company by subscribers, is looking to value its mobile money arm at more than $5bn as it prepares to sell or list a minority stake to draw global investors enticed by fast-growing fintech assets. Chief executive Ralph Mupita told the Financial Times that the unit, which added […]
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Global

Kenya Becomes the Second African Country to Launch 5G

“Mobile network operator Safaricom has launched a 5G network in Kenya. This makes it the second country in Africa to roll out the technology to customers, according to GSMA, an organization representing mobile network operators worldwide. The company is trialling the technology in four towns, and expects to expand it to nine over the next […]
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Global

Pandemic Spurs Africa’s Mobile Telcos to Ramp Up Banking Bid

“When COVID-19 hit Ivory Coast, Bonaventure Kra, who works at an import-export business, began to worry. Handling hard cash all day was a risk. Queuing in crowded bank branches exposed him to infection. Then, in the midst of the pandemic, French telecommunications giant Orange ORAN.PA launched an entirely digital bank – its first full banking […]
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Providers

M-Pesa Users to View Recipient’s Name Before Sending Cash

“Customers sending money using M-Pesa platform will now be able to see the name of the targeted recipient before completing the transaction in Safaricom’s  latest bid to minimise chances of erroneous transfers. The new feature is an improvement from the current one where customers have to complete the transaction first before being given the option of […]
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Providers

Airtel Africa, Standard Chartered partner to expand financial inclusion

“Standard Chartered Bank and Airtel Africa have partnered to enhance financial inclusion across key markets in Africa by providing services such as online deposits, international money transfers etc. “ Airtel Money ’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their […]
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On The Wires

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Global

Airtel Africa partners with Mukuru to facilitate cross-border money transfers within Africa

“Airtel Africa plc [Airtel Africa], a leading provider of telecommunications and mobile money services in 14 countries across sub-Saharan Africa and Mukuru, one of Africa’s largest remittance organisations, announced a partnership which will enable Mukuru customers to instantly send cross-border transfers directly to Airtel Money customer wallets in 12 African countries.”