Access to capital remains one of the biggest challenges for Micro, Small, and Medium Enterprises (MSMEs) in Kenya, with a staggering KES 2.2 trillion ($15 billion) financing gap limiting their ability to grow. Recognizing this challenge, Cellulant, Visa, and Citi have partnered to introduce Citi Optimized Pay, a groundbreaking solution powered by Tingg and Visa,…
Safaricom is taking a major leap forward in its technology modernization journey by deploying Red Hat OpenShift as its common cloud platform. This strategic move enables greater agility, stability, and scalability for mission-critical applications, including M-PESA, which serves 51 million customers and facilitates over $314 billion in transactions annually across Africa. By shifting to a…
Imran Sumra, CEO of FinSense Africa, has been recognized as one of the 50 Most Influential Muslim CEOs in Kenya by The Muslim CEO Africa. With over 20 years of experience in financial technology, Imran has played a pivotal role in shaping the fintech landscape. His transition from a successful career in banking technology to…
In a strategic move to further develop the fintech sector, five major representative associations have come together to form The Fintech Alliance (TFA). The alliance aims to drive the growth and development of the fintech industry, providing a unified voice for key players in the sector. This collaboration comes at a time when the sector is experiencing rapid growth, with increased regulations and investments reshaping the landscape.
Safaricom’s M-Pesa is poised to transform Kenya’s digital payments landscape as it prepares to integrate with the Pesalink network. In a joint proposal with the Kenya Bankers Association (KBA) submitted to the Central Bank of Kenya (CBK), Safaricom aims to connect Kenya’s leading mobile money platform to the national interbank payment system. This move promises to create a more unified and seamless payments ecosystem for millions of Kenyans.
Kenya’s Capital Markets Authority (CMA) has approved Safaricom’s second money market product, Ziidi, marking a significant milestone in Kenya’s financial inclusion journey. Offered in partnership with Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited, Ziidi responds to the growing demand for accessible and digital-first investment opportunities in Kenya’s fast-evolving financial landscape.
Safaricom has launched an innovative tech re-skilling program aimed at empowering young Persons with Disabilities (PWDs) by equipping them with valuable digital skills. This initiative underscores Safaricom’s commitment to promoting inclusivity and supporting individuals with disabilities as they navigate the digital landscape. The program is designed to enhance employability and create pathways for PWDs to thrive in the tech industry.
Mastercard and Diamond Trust Bank (DTB) have entered into a groundbreaking 10-year partnership aimed at transforming the digital payments landscape across Kenya, Uganda, and Tanzania. This collaboration is set to revolutionize the banking and digital payment experience for individuals and businesses in the region by introducing secure, innovative, and convenient payment solutions. The initiative’s centerpiece is the launch of Kenya’s first tokenization-based payment wearables, developed in partnership with Tappy Technologies, which brings state-of-the-art contactless payment technology to consumers nationwide
M-KOPA, an emerging markets fintech company, has appointed Rajeev Suri as the new chairman of its board, effective December 1, 2024. Suri takes over from Elizabeth Littlefield, who has led the board for the past six years. With Suri’s extensive experience in technology and telecommunications, M-KOPA aims to leverage his expertise to enhance its operations…
Mastercard and Diamond Trust Bank (DTB) have entered a landmark 10-year partnership to deliver customized digital payment solutions across Kenya, Uganda, and Tanzania. This collaboration aims to revolutionize the digital and banking experience for both individuals and businesses in the region by introducing innovative, secure, and convenient payment options. Central to this initiative is the…
