Browsing: Digital Money

Amid Africa’s digital transformation, several sectors have pioneered and dominated this move. The continent’s digital money adoption has become one of its most highlighted features since 2002. From Mpesa to Luno and Flutterwave, the era of new payment services has overhauled the continent’s progress. In recent developments, Stitch fintech, a South African payment service, secures $25 million Series A extension funding led by Ribbit Capital.

The Africa Fintech Accelerator program will remain open until August 25th, and the first cohort will debut in September.  Plug…

After over a decade since launching, Mpesa has 54.4 million users in Africa. Safaricom has increased its Group Service Revenue…

Whether Nigeria and Ghana will abandon their digital currencies and jump on the Eco train is an unclear narrative, but it appears unlikely because of the significant investments put into them and the optimism by the governments to embrace digital transformations.

Nigeria had banned cryptocurrency transactions in February last year which increased the popularity of the eNaira as an alternative for cross-border trade and remittance inflows.

eNaira critics say that the solutions being offered by the digital currency are already existing in online banking and bank card transactions.

Tanzania has moved to look into a possible profitable venture in Cryptocurrency. A circular purported to be coming from the…