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 […]
For the next 90 days, person-to person mobile money transactions below Ksh. 1,000 ($9.67) on MPesa, the mobile money service owned by Safaricom, will incur no costs to Kenyan customers. It is Safaricom’s response to a demand by the Kenyan government for companies to incentivise online transfers in the wake of COVID-19, the novel coronavirus […]
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A subsidiary of MTN Nigeria, Yello Digital Financial Services (YDFS), has secured a licence from the Central Bank of Nigeria to operate financial services in the country.