Managers of Wealth Africa

Banks must partner with fintech to accelerate the digital banking transformation

Banks are still there and still needed but need to adapt to what is happening on the continent and partnering with fintech companies is key to doing that.

Xolane Ndhlovu’s Dafribank: A catalyst for Digital Business

In 2020, the firm raised $6 million from a group of private investors in series A funding led by the parent company, DafriGroup PLC

Everything you need to know about fintech financing in Africa

A total of 277 fintech startups in the continent have raised ~900 million in the past six and a half years, more than double the amount raised by startups in other sectors.

Nigeria's FairMoney raises $42m

FairMoney has also secured a microfinance bank license, enabling it to launch a current account, with a debit card in the pipeline.

SA firms hit in massive ransomware attack

The findings differentiate the latest incident - which cybersecurity firm Huntress Labs said affected more than 1 000 businesses - from other recent assaults on the software supply chain.

Ecobank Group reaches another milestone in financial inclusion in Africa

The success of the new wallet service is made possible by Semoa’s ability to test connectivity, authentication and authorisation of customers’ transactions before the new service went live through Ecobank’s Sandbox.

Success of new digital banking entrants is far from guaranteed

The return on equity reflects how profitable a banking institution has been with its shareholder capital, while net-interest margin indicates the difference between what the bank is paying for its funding and what it makes from the loans that are granted

Bitcoin at lowest exchange supply in six months

With bitcoin selloff intensifying on May 19, culminating in a $1.2tn decline for the entire cryptocurrency market.

Banking and payment channels in Africa are showing positive growth

While card penetration in Africa lags behind the rest of the world, this too is showing growth.

TeamApt Completes Series B Funding, Commits to African Market

TeamApt has in less than two years, rapidly scaled its agent banking product, Moniepoint, to serve the 29 million previously underserved individuals who had limited access to financial services.

TeamApt will use its new funding round to provide digital bank services for the unbanked

TeamApt bootstrapped with revenue made on a per-project basis.

The Unforgettable Lessons That Hackers Have Taught Top Businesses

It has become evident to us that there are two firms across industries – ones that have been hacked and those that are going to be hacked.

MTI and Cajee brothers' Bitcoin scandals prompt quicker move for crypto regulations

The brothers are still at large, but one, Raees Cajee, told Dow Jones on Monday only about $5 million (R71 million) was missing

Will private cryptocurrencies be eclipsed by the rise of central bank digital currencies?

Extreme volatility often has a negative connotation because many investors associate volatility with market chaos, uncertainty, and loss.

CR2 Market Insight: African Banking and Payments Trends

A quick snapshot of banking and payment trends in Africa offers encouraging news for banks on the continent and opportunities for growth

Banks Urged to Rise to Fintechs’ Challenge

It also rated Access Bank, the United Bank for Africa, Guaranty Trust Bank, Zenith Bank, and Stanbic IBTC Bank as stocks to buy.

South African brothers deny role in $3.6bn Bitcoin ‘heist’

As regulator raises red flag on ‘Ponzi-like’ tactics used by their firm

Blockchain and Crypto Will Play a Big Role in Financial Inclusion in Africa

These numbers are likely to keep rising, and show an interesting trend as well, in that while cryptocurrencies are largely used by companies and financial traders elsewhere in the world, they are being primarily used for commerce in Africa.

SA Bitcoin brother: 'Only' R71 million is missing

The statement on Monday from the lawyers came just two days after their first public defence of the brothers who'd been accused of vanishing along with an estimated $3.6 billion (R51 billion) in Bitcoin from their Africrypt investment platform.

GrEEn Project partners with Fidelity Bank and Viamo to improve access to financial services

For Ghanaians living in remote areas, limited digital and financial literacy have hindered access to such services.

FinTech