Vodacom, Orange partner to expand rural network coverage in DRC
Pan-African mobile operators Vodacom and Orange have announced a rural “towerco” partnership in the Democratic Republic of Congo (DRC), with the aim of providing better network coverage for rural areas.
Through the partnership, the companies will collaborate to build, own and operate solar-powered mobile basestations in underserved areas of the central African nation.
In a joint statement Orange and Vodacom said that the initiative was a first of its kind and will extend network coverage and enable access to telecommunications and mobile financial services to up to 19 million people in less densely populated rural communities.
LemFi moves remittances further into Asia and Europe with $53M in new funding
For many emerging market economies, remittances have become a lifeline. Inflows surpassed $669 billion in 2023, according to World Bank research, and they now represent significant portions of GDP in these countries, often outpacing foreign direct investment as the primary source of foreign exchange.
Traditional banks and agents maintain a firm grip on the remittance market, with over 60% market share despite fierce competition from new tech challengers. Some of these challengers, like Remitly, have gone public, while others, such as Zepz and Taptap Send, remain privately owned — all vying for the remaining share.
LemFi, the London-based financial services platform designed for immigrants, is one such new player. It’s now armed with $53 million in new funding, which it will use to fuel efforts to acquire more customers and further expand into more countries.
Nigeria launches the Technology Export and Digital Trade Desk to attract more funding
Mastercard is making a big move in West Africa by opening its first office in Accra, Ghana. With a physical presence in Ghana, Mastercard plans to work closely with local players, introduce innovative financial solutions, and strengthen its role in the country’s financial sector.
Mark Elliott, Mastercard’s Division President for Africa, said the new office is all about understanding and meeting the customers’ needs in Ghana. He highlighted their ambitious plans for West Africa and how having an office in Accra will make it easier to collaborate with local partners and roll out advanced payment technologies. The goal is to shape the future of payments in a way that benefits everyone.
Ghana’s economy is growing, with a 2023 GDP per capita of $2,238 and strong sectors like agriculture, mining, and tech. Mastercard sees this as an opportunity to drive digital transformation and support local businesses. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, shared how partnerships with banks, fintechs, and other companies are already creating positive changes in the region.
Read more: https://techpoint.africa/2025/01/14/techpoint-digest-1006/
Bank of England to launch Digital Pound Lab
Operating in a sandbox environment, the Digital Pound Lab will enable hands-on experimentation for testing API functionality, innovative use cases and potential business models for PIPs and ESIPs.
The Bank’s consultation groups, the Engagement Forum and the Academic Advisory Group will continue, while the Technology Forum will be wound down. Engagement focused on technology will continue, says the Bank, but it will be more direct and detailed, supported by the Digital Pound Lab.
At the same time, the Bank has published the first of series of design notes which set out emerging thinking on specific topics related to a digital pound. The published design note identifies the key components the Bank and HM Treasury will explore in developing the blueprint.
Read more: https://www.finextra.com/newsarticle/45311/bank-of-england-to-launch-digital-pound-lab
ClearBank Powers UK Payments Rail Expansion With Airwallex
ClearBank seeks to strengthen its British presence through a new partnership with Airwallex to enable virtual account issuance
Banking infrastructure provider ClearBank has formed a partnership with cross-border payments company Airwallex to expand its UK payment capabilities through virtual business accounts and local payment rail access.
Airwallex, which processes payments for over 100,000 businesses globally, will use the collaboration to issue virtual accounts and International Bank Account Numbers (IBANs) under its own brand while accessing British payment schemes including Faster Payments, BACS, and CHAPS.
Read more: https://fintechmagazine.com/articles/clearbank-powers-airwallex-uk-payments-rail-expansion
MoonPay acquires Helio to enhance crypto payment services
Founded in 2022, Helio’s platform enables merchants to accept cryptocurrency payments. The company claims that it has processed over $1.5 billion in transactions so far, serving more than 6,000 sellers and reaching a user base of over one million.
Speaking on the acquisition, Ivan Soto-Wright, MoonPay’s co-founder and CEO, states: “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces.”
The all-equity deal is valued at $175 million according to a Fox Business report, and will see Helio’s entire workforce join MoonPay.
Read more: https://www.fintechfutures.com/2025/01/moonpay-acquires-helio-to-enhance-crypto-payment-services/
Thunes Adds PayPal’s Hyperwallet to Cross-Border Payments Network
Money movement platform Thunes says it has added PayPal’s Hyperwallet to its Direct Global Network.
With this movement, Hyperwallet customers can send money in real time to more than 450 million mobile wallets and bank accounts across Bangladesh, Indonesia, Malaysia, Philippines, South Korea, and Vietnam, Thunes announced Tuesday (Jan. 14).
“With this new alliance, Hyperwallet can help its expansive global merchant base, including some of the world’s best-known ride-hailing super apps, marketplaces and social media platforms, offer customers their preferred method of access to funds,” the company said in a news release.
