Author: Akin Naphtal

In a recent report, it discloses that Africa’s fintech startup ecosystem has experienced remarkable growth, expanding by almost 20 percent in the last 24 months. According to the title of the report; “Finnovating for Africa,” it tracks the development of the fintech ecosystem across the continent, providing insights into regional trends, startup activity, funding, acquisitions, and a comprehensive list of African fintech startups. Over the past two years, the number of fintech startups operating in Africa has grown by 17.7 percent, reaching a total of 678. This growth is widespread across the continent, with markets like Egypt and Nigeria experiencing…

Moniepoint, a Nigerian Fintech company has launched a consumer app and debit card in a bid to enhance personal banking market. Moniepoint Microfinance Bank debit card and consumer app will make transaction easy and simple for over 1.5 businesses that utilizes the bank. This effort has also set Moniepoint in a competitive state with OPay and PalmPay. This is because the company previously offered an all-in-one platform for all transactions but now its services will be available to everyone. With the consumer app, users are able to transfer money, pay bills, and buy airtime. The debit cards, issued by Mastercard…

Bolt, a prominent ride-hailing and gig economy firm, has announced surpassing 250 million rides in Nigeria since its inception in 2016. The company has also logged an impressive 3 billion kilometres in total travel distance by customers. Bolt Nigeria reported a remarkable seven-fold growth since its launch, marking a significant milestone as it celebrates its tenth year of global operations. Yahaya Mohammed, the Country Manager of Bolt Nigeria, emphasized the company’s unwavering commitment to providing excellent service and collaborating with stakeholders for the advancement of the ride-hailing industry in Nigeria. He reiterated the company’s focus on delivering safe, affordable, and…

Zeepay, a trailblazer in cross-border payments, has announced a remarkable surge in both its total processed volume (TPV) and revenue, showcasing its strong performance in the financial sector. Within just one year, TPV has surged from US$1.9 billion in 2021 to an impressive US$2.9 billion in 2022. This exponential growth in TPV is mirrored by the rise in revenue, which has soared from GH¢39.4 million in the previous fiscal year to an outstanding GH¢96.4 million in 2022. The driving force behind this exceptional achievement is Zeepay’s diversified portfolio of services, with remittance services emerging as a key catalyst for its…

Threads haven’t launched a web version yet, but the app has shipped a new update to give more prominence to reposts on the social network. Meta has changed two things regarding reposts on the app. First, there is now a dedicated “Reposts” tab on the profile page, so people can quickly scan through all reposts by a user. Earlier this month, the company rolled out a new option on the settings page to let users look at their own liked posts. Second, users can now see reposts in the reverse-chronological “Following” feed as well. Prior to the latest update, you…

Effective October 1, this year, no cyber security entity, service provider or professional can offer service to a public sector institution in Ghana without licensing and accreditation from the Cyber Security Authority (CSA). This is in compliance with Cybersecurity 2020 (Act 1038) and guidelines for licensing of cyber security service providers and accreditation of cyber security entities and professionals. The CSA commenced a mandatory licensing regime for cyber security service providers and professionals on March 1, 2023. It had so far registered 448 cybersecurity professionals, 25 entities and 92 service providers. This was announced at a media engagement on collaborations…

Telecom Egypt has released its financial report for H1 2023, showing a net profit of E£6.7 billion ($217 million), a growth driven by its 75% year-on-year growth in wholesale revenue and strong retail performance. Per the report, Telecom Egypt’s total revenue grew to E£28.1 billion ($909 million), a 38% growth compared to H1 2022. There was also an increase in its customer base across the board. It reached 12.6 million mobile customers during this period—a 7% year-on-year growth. The number of fixed voice subscribers and fixed-broadband internet customers increased by 5% and 8% respectively. The company’s EBITDA for the first…

Ghana’s National Communications Authority (NCA) has hosted one hundred (100) selected participants from various regions of the 2023 National Girls-In-ICT Initiative at the NCA Tower in Accra. This was part of an Open Day activity organised by the Ministry of Communications and Digitalisation (MoCD) to provide the opportunity for the selected girls to acquire knowledge, in the field of ICT of Information and Communications Technology (ICT). Welcoming the girls on behalf of the Director General of the NCA, Mr. Joe Anokye, the Director for Consumer and Corporate Affairs Division, Mrs. Nana Defie Badu applauded the MOCD for empowering the girls…

MTN Ghana has launched the 2023 MoMo Season in Accra on the theme “Addressing the barriers to digital payments adoption in Ghana”. The season, which is celebrated in the months of August and September, is to create awareness of the various opportunities MoMo offers in the digital economy and celebrate valued partners and customers. It is also to celebrate and highlight the importance of the MTN mobile money service to the Ghanaian economy, bring the service to the doorsteps of a lot more Ghanaians, and celebrate and recognize its valued partners and the over 11 million subscribers who use MTN…

The U.K. has created an investment vehicle to back growth-stage financial technology companies until they can go public, in a bid to bolster Britain’s global image as a fintech investment hub. In the statement, the initiative which is backed by the likes of Mastercard Barclays and the London Stock Exchange Group, the Fintech Growth Fund aims to invest between £10 million to £100 million into fintech companies, ranging from consumer-focused challenger banks and payments tech groups to financial infrastructure and regulatory technology. The fund, which is being advised by U.K. investment bank Peel Hunt, looks to support companies at the…