MTN Group has big ambitions for its mobile money business and is presently considering publicly listing that side of the business in an initial public offering (IPO).
For Airtel, the goal is clear; it wants to grow its mobile money business without incurring more debt. At the end of 2018, the company’s debt stood at $7.7 billion
Fintech startup, OPay is temporarily shutting down its transportation and logistics verticals in Nigeria as it focuses on building e-commerce services.
MPesa, the mobile money service, has been an African product for 13 years. But it has not necessarily been run under African management. That is set to change. This week, Safaricom and Vodacom acquired the intellectual property rights to the MPesa brand from Vodafone. Through a joint venture deal, both companies now have “full control […]
The Reserve Bank of Zimbabwe (RBZ), the country’s central bank, will allow money transfer agencies to operate during the coronavirus lockdown. The move became necessary after households complained of the crushing effect of being cut-off from survival money from relatives abroad. Zimbabwe has relied on diaspora remittances for the best part of two decades. In […]
Africa added 50 million new mobile money accounts in 2019 as the number of registered accounts globally surpassed the 1 billion mark for the first time. East Africa, home to Safaricom’s MPesa, remains number 1 in the world in terms of transaction volume and value, according to the GSMA State of the Industry Report on […]