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- Mobile Banking Reshaping the Gender Gap in Financial Inclusion
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Tech & Business
- Starlink, has introduced a significant price reduction of 55.6% for its installation hardware kit in the Kenyan market.
- This promotional offer is valid until May 15, providing Kenyans the opportunity to purchase the hardware equipment at $292.36 (KSh39,500), a substantial discount from the usual asking price of $658.04 (KSh89,000).
- An analysis in October 2023 highlighted Kenya and Mozambique as the top markets with the highest charges for internet installation compared to other African countries where Starlink has a presence.
Billionaire Elon Musk’s satellite internet firm, Starlink, has introduced a significant price reduction of 55.6 percent for its installation hardware kit in the Kenyan market. This promotional offer is valid until May 15, providing Kenyans the opportunity to purchase the hardware equipment at $292.36 (KSh39,500), a substantial discount from the usual asking price of $658.04 (KSh89,000).
The promotional message displayed on the firm’s website states, “SpaceX’s Starlink kit has an offer …
- Data from the World Bank’s Global Findex Database 2021 indicates significant strides in female financial inclusion over the past decade.
- In the 10 years leading up to 2021, the share of women in Africa who owned a financial account doubled to more than 49 per cent.
- This surge in women’s account ownership in many developing countries is largely attributed to mobile money platforms.
Data from the World Bank’s Global Findex Database 2021 indicates significant strides in female financial inclusion over the past decade. The gender gap in ownership of formal financial accounts in developing countries has decreased from 9 to 6 per cent, signifying a move towards financial parity for women.
The increase in account ownership among women has outpaced that of men, with 68 per cent of adult women in developing nations now participating in formal financial systems. This surge in women’s account ownership in many developing countries is …
- South Korea-based LB Investment, which has $1.2 trillion Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress.
- The firm will showcase a diverse portfolio of startups and companies, representing cutting-edge innovation and disruptive solutions across industries.
- Among the notable entities brought to the forefront by LB Investment are LisMed, Standard Energy Inc., t’order, FITPET, LABLUP, BLUEZONE WIDE, NOTA AI, and ABYSS Company.
LB Investment, a venture capital company with a legacy of fostering innovation and entrepreneurship, and with $1.2 trillion in Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress, scheduled to be held from May 7th to May 9th in Abu Dhabi, United Arab Emirates.
Established in 1996, LB Investment has consistently been recognised as one of South Korea’s premier fund managers, earning accolades such as the A+ grade from the Small and Medium …
- PesaPal has advised businesses in Kenya and the wider region to use fraud detection tools as more transactions move online and e-commerce becomes mainstream
- Outgoing Pesalink Chief Security Information Officer Stacy Chege noted that online fraud is a growing threat to Kenya’s economy and to the country’s personal financial security
- The expert said merchants must safeguard themselves and their customers against online payment fraud by integrating payment gateways like Pesapal as a secure checkpoint for online transactions
Businesses in Kenya should incorporate fraud detection tools as more transactions move online and e-commerce becomes mainstream.
This is according to the outgoing Pesalink Chief Security Information Officer Stacy Chege noted that online fraud is a growing threat to Kenya’s economy and to the country’s personal financial security.
The expert said merchants must safeguard themselves and their customers against online payment fraud by integrating payment gateways like Pesapal as a secure checkpoint for …
- Sub-Saharan Africa has seen the fastest increase in worldwide Internet penetration, from less than 1 per cent in 2000 to 30 per cent now. The use of the internet in Africa increased by 23 per cent between 2019 and 2021
- The Internet Society has been at the forefront of supporting the construction and growth of worldwide Internet penetration(IXPs), which permit and stimulate local traffic
- The Internet Society has assisted in the development of community networks in South Africa, Zimbabwe, Uganda, Nigeria, Kenya, Namibia, Senegal, Morocco Ethiopia. And the Democratic Republic of the Congo
As the Internet Society (ISOC), a global non-profit organisation that advocates for an open and globally linked Internet, celebrated its 30th anniversary, the organisation demands urgent action to advance Internet growth throughout the African region.
Dawit Bekele, the Africa Regional Vice President of the Internet Society, lauded stakeholders’ progress in expanding access across the continent while encouraging …
- Banking industry in South Africa staged a strong come back in 2021 in report by PWC.
- Banks enjoyed supportive credit conditions in the economy of South Africa.
- Banking industry is widely seen as a proxy of the general economy in South Africa
- South African economy has returned to pre-pandemic levels as evidenced by the financial performance of banks according to PWC
The banking industry in South Africa is in for good times according to a report by PWC. The banking industry sector analysis and report by the global management consulting firm published in March 2022 reports that the major South African banks delivered strong financial performance against what PWC described as “supportive conditions”.
The banking industry had combined headline earnings of ZAR 86.8 billion which represented a 99% increase from 2020 financial year levels. Banks had a combined return on equity (ROE) of 15.9% compared to 8.3% achieved in 2020, …
- M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively
- 55 of every 100 people acquire loans from digital lending applications
- Most Kenyans prefer digital lending platforms due to convenience, easy access and fast loan remittance
Kenya has experienced massive digital credit lending services growth since the launch of M-Shwari in 2012.
Digital lending apps have additionally been fueled by increased food prices and unemployment rates, forcing citizens to run to almost anything that can put food on their table. Currently, the country boasts of over 40 digital credit providers.
M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively.
The State of Digital Lending Report 2021 released by Reel Analytics, showed that
As part of its overall mission, DIGILOGIC aims at developing a trend radar of the latest digital logistics technology trends with a focus on Africa. The trend radar is foreseen to be a dynamic, living tool that captures the development of business and especially technology.
It will be continuously extended and enriched with examples from industry and research, which is why DIGILOGIC interviews experts for their perspectives on the digital logistics sector in Africa.
Fabio Scala is the founder of FurtherAfrica, a business intelligence platform for senior professionals looking for information on finance, development, the economy and investment opportunities in Africa.
As part of the DIGILOGIC project’s High-Level Advisory Board of experts, Fabio helps us with his fellow industry experts supporting the project by assessing our results, raising awareness of the project, and taking part in our activities. It is within his capacity that he joined Toyin Dania for this …
The instant currency exchange service offered by Grey enables its customers to have virtual international bank accounts for free, helping small businesses, freelancers, remote workers, and content creators in Kenya to enjoy a seamless payment process.
Today, thousands of young Kenyans access work opportunities through digital platforms in a rapidly growing gig economy.
The online gig economy is fuelled by a burgeoning young workforce, internet and smartphone penetration, and mobile money proliferation. With Africa having the youngest workforce yet with high unemployment rates, online gig work provides alternative and accessible employment opportunities and a path to economic prosperity for the youthful workforce.…
