Category: Mobile Finance

Remittances are in the news yet again, this time in the shape of LemFi, a cross-border payment solution that allows people in the diaspora to send and receive funds back home. LemFi has announced that it has secured the approval of the Central Bank of …

Bangladesh operator Banglalink has partnered with mobile financial service provider bKash and City Bank to finance 4G smartphone purchases for customers to make the devices more affordable and in turn boost 4G adoption.

A remittances-focused partnership has been announced that could see the expansion of M-Pesa, the continent’s leading mobile money and digital payments service, to West Africa.

The mobile money market matured as transaction value grew by 14% to US$1.4 trillion and total global registered accounts reached 1.75 billion in 2023, an increase of 12% year-on-year.

Safaricom Ethiopia’s M-Pesa mobile money service has signed an international money transfer agreement with Onafriq, Africa’s largest digital payments network, which currently operates in 40 African countries.

Mastercard has signed a deal with China’s Alipay to facilitate international remittances into the market.

MTN Uganda Mobile Money managing director and CEO Richard Yego revealed the operator is aiming to almost double its loans to UGX1 trillion (US$256,000) this year. 

Mastercard and MTN Group Fintech have signed a multi-market agreement that will use Mastercard’s technology and capabilities to support MTN’s ambition to become Africa’s largest fintech platform for both merchants and consumers.

At Mobile World Congress on Monday, payments company Visa and the GSMA Mobile for Development Foundation (a.k.a. the GSMA Foundation) launched the Digital Finance for All (DFA) Initiative to advance digital financial inclusion in developing markets.

Ericsson and Telenor Microfinance Bank (TMB) have signed a multi-year extension of their existing partnership to expand TMB’s mobile wallet easypaisa and establish TMB as a full-fledged digital bank in Pakistan.