Generally speaking, the proliferation of mobile phone technology has increased access to mobile money services (MMS) and is the backbone of mobile money deployment in both rural and urban areas of Africa.

“Despite its enormous benefits, embracing the usage and acceptance of mobile money has mostly been low due to security issues and challenges associated with the system,” warns professor Guma Ali from the Nelson Mandela African Institution of Science and Technology.

In a paper titled ‘Evaluation of Key Security Issues Associated with Mobile Money Systems in Uganda,’ the pundit suggests the need to carry out a survey to evaluate the key security issues associated with mobile money systems in Uganda (and Africa).

In the study that followed, which employed a descriptive research design, and stratified random sampling technique to group the population, some 741 registered mobile money (MM) users and 447 registered MM agents along with 52 mobile network …

Hello Pay provides a range of loan amounts, from R30,000 up to R250,000. In addition, the Hello loans’ interest rates are among the industry’s most reasonable rates. Anyone interested in expanding their company is eligible to apply for a loan; Muslim business owners are not the only ones who can do so. The loan can be repaid by the proprietors of the business over a period of up to a year.

“We provide entrepreneurs with the assistance they require to grow into profitable and sustainable enterprises.” Given the enormous challenges that SMEs face, Hello Pay is delighted to play a role in connecting thousands of meriting business owners with solid financial services so that they can focus on running their businesses and providing necessary goods and services to millions of South Africans” Miya explains.

According to Miya, the primary duty of recovering the economy and producing millions of new jobs …

Visa, for its part, has lodged an application seeking to dismiss the charges. In its defence, the payments platform company said that the people who posted the victims’ underage images and those who distributed and earned money from the material caused the alleged harm and not Visa, the Washington Post reports.

The company went on to argue that it had nothing to do with the operations of the websites run by Mind Geek which include adult entertainment websites where child sexual abuse videos have been featured. Since the news of child sexual abuse broke and the landmark ruling delivered by the California court, Visa has been at pains to distance itself from the lawsuit of which it is now a defendant. The company made a statement to the Washington Post where it condemned sex trafficking, exploitation, and child sexual abuse materials as “repugnant” to its values and purpose as a …

• Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis
• The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year
• Single Window can cross-check credentials for consistency and traceability, reducing errors and fraud

The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year.

Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis.

The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year. With digital trade in place, pre-existing bottlenecks in infrastructure can be tackled, efficiencies can be leveraged, and Innovative solutions can be harnessed. However, countries in …

• The US$3.7m extension brings the total raised by the insurtech to the US$5.5m; It follows a US$1.8 million round led by seed-stage investment firm Accion Venture Lab last year
• According to CEO Jihan Abass, the increased cash would be utilised for business development, product and technology growth, and expansion into new nations like Egypt, Nigeria, and Uganda
• The firm intends to offer tech solutions to digitise agents and brokers, assisting them in streamlining their operations to reach a large customer base and sell online

Lami Technologies, a Kenyan-based firm, has acquired US$3.7 million in seed funding to market its insurtech solution throughout Africa.

Harlem Capital, an early-stage venture business that invests in seed-stage tech-enabled start-ups with an emphasis on minority and female founders, was in charge of the extension.

Early-stage venture capital firm Newtown Partners; Peter Bruce-Clark, a partner at New York’s research-driven venture capital firm Social Impact Capital; Caribou …

The report noted that the value of Africa’s mobile money transactions increased from US$495 billion in 2020 to US$701.4 billion in 2021. Research by American firm Boston Consulting Group (BCG) affirmed that Kenya and Ghana are ranked second and third in mobile payment usage globally after China, the world’s most populated country.

During the period under review, transactions through mobile wallets and phones were the equivalent of 87 per cent of Gross Domestic Product (GDP) in Kenya and 82 per cent in Ghana.

The International Monetary Fund (IMF) and the World Bank ranked Ghana as the fastest-growing mobile money market. That was not the case in 2009 when mobile money services were launched in the West African country. At that time, 70 per cent of Ghana’s population had no access to bank services, while approximately 35 per cent of citizens owned mobile phones.…