Total 20 Posts
Despite the compelling value proposition that mobile money offers, the Reserve Bank of Zimbabwe recently placed significant regulatory restrictions on its operations. The regulator said mobile money services were fuelling illegal foreign currency exchange.
We talk of new generation fintech as driving financial inclusion by making it easier and cheaper to transact or move value, but we must take a step back and realize that with all that activity and growth, your data remains locked up with each service provider.
Credit, related to cash transfers, is a form of informal community support, and eliminating it is both undesirable and infeasible. However, agencies should take steps to prevent highly vulnerable refugee households from falling into high levels of debt.
The announcement by Standard Chartered and Airtel Africa on their collaboration on co-creating financial services products continues the trend of the rise of Fintech solutions available to Africans.
Vodacom M-Pesa - has announced the expansion of its International Money Transfer service portfolio. Vodacom customers will now have the option and ability to easily transfer and receive funds from individuals across more than 200 countries worldwide.
Financial inclusion initiatives directed at poorer people in South Africa should be closely monitored. This is because they don’t always have a positive impact, particularly on poor people.
Mobile money has proved popular among many African countries. However, in Cameroon, Glomo Money, an indigenous mobile money service, is struggling as it cites that government is supporting multinational companies better than local ones.