Managers of Wealth Africa

The future of banking is here

Digital technology is broadening their access to finance management and helping to support their financial wellbeing.

Cyber-attacks in Kenya up by half to hit 56m in three months

The rise in cyber threats have seen businesses lose billions of shillings and sensitive information to hackers. This has forced firms, especially in the financial sector, to be vigilant.

HPS to acquire ICPS in Mauritius, bolsters its processing activities in Africa

The acquisition is subject to suspensive clauses and the approval of the concerned authorities.

Digital mobile lenders lock defaulters out of platforms

“Most borrowers initially were borrowing with no intention to pay back.”

Cryptocurrency: Bureaux de change operators back CBN’s ban

Gwadabe said the new changing global behaviour towards cryptocurrency trading in Nigeria is not in tandem with Nigeria’s AML/CFT compliance structure as the country battled to move out of the Financial Action Task Force (FATF) sanctions list.

Bank of Africa partners with Chinese development fund to support Morocco’s Tangier Tech projects

This promising cooperation aims to co-finance Chinese investment in Africa, either by setting up joint ventures or by direct bank financing based on the group’s large African network.

Bitcoin Daily: P2P Crypto Payments Platform Metal Pay Applies For Bank Charter

The South African Revenue Service (SARS) is auditing taxpayers’ returns, requesting disclosure on cryptocurrency holdings and trades, MyBroadband reported, citing information from Tax Consulting South Africa.

Former banker carving out niche in digital lending

His focus is the salaried people and customers are only required to give their national identity card and pay slips to get the e-loans via Little Pesa app.

China Leads Africa’s Digital Currency Race

Now, China can launch its digital currency on top of this stack, running on specially designed chips embedded deep within dozens of popular Chinese phone brands that dominate Africa.

Universa Blockchain to Power Swiss-based Digital Bank for BRICS Member States

The Universa Blockchain will power the bank’s operations, aiding in processing crypto transactions.

Ukheshe to issue cards across East Africa with support from KCB

Ndlovu says financial inclusion remains a massive challenge in the region and across the continent where millions of people are either unbanked or severely underserved.

How Stanbic IBTC is Empowering Female-led Startups

The organisation’s partnership with the largest pre-seed accelerator, The Founder Institute, supports female entrepreneurs in setting up business goals and upscaling operations in the Nigerian educational ecosystem.

Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 2019

While Carbon has been hailed for transparency and openness, it remains to be seen if it’s a trend other African startups are willing to follow.

Airtel set to sell stake in mobile money service

“Discussions are ongoing between the parties and there can be no certainty that a transaction will be concluded or as to the final terms of any transaction.”

How dominant fintech is still the sector to beat for African startup funding

Fintechs are also increasingly collaborating with – rather than competing against – established banking incumbents

What European fintechs can learn from Africa

To survive, fintechs must ensure a path to profitability and create long-term sustainable business models.

Nigerian wealth management platform Cowrywise raises $3m funding

Cowrywise has been expanding its offering of late, and that process is set to continue after it secured US$3 million in pre-Series A funding

Access Bank repositions digital payment to reap AfCFTA gains

While the agreement is not a silver bullet, due to structural barriers to trade, Group Managing Director, Access Bank Plc, Herbert Wigwe, said he saw many benefits to his bank and the various African economies within the AfCTA deal.

Kenyan insurtech startup Pula raises $6M Series A to derisk smallholder farmers across Africa

This disparity stems from the fact that the traditional method of calculating insurance through farm visits is often unaffordable for these smallholder farmers.

StashAway announces Assets under Management of US$1billion

In 2020 alone, the portfolio returns ranged from 24.1% to 5.2% for those same portfolios, and consistently outperform their same-risk benchmarks.

FinTech