Ghana President John Mahama Backs Solana for Africa’s Fintech Future
Ghanaian President John Dramani Mahama has endorsed Solana, a high-speed blockchain, as a key enabler of fintech growth and cryptocurrency adoption across Africa.
Speaking at the African Prosperity Dialogues Summit in Accra, President Mahama emphasized how blockchain technology—particularly Solana’s high-speed and low-cost transaction capabilities—could reshape financial services on the continent.
Read more: https://techlabari.com/ghana-president-john-mahama-backs-solana-for-africas-fintech-future/
KCB Bank Provides Customers Ability to Transact in 11 New Currencies With Compass Plus Partnership
To empower Kenyans with flexibility and convenience when making payments for goods or accessing funds across borders, KCB Bank, the African bank headquartered in Nairobi, Kenya, has partnered with paytech Compass Plus Technologies.
The new partnership will strengthen KCB Bank’s multi-currency offering by launching Kenya’s first platinum multi-currency prepaid card. It will allow users to load and transact in 11 currencies while helping users avoid the typical exchange fees associated with currency conversion.
Leveraging digital assets to enhance trade and investment in Africa – A comparative analysis of global adoption trends
The global financial landscape is rapidly evolving, driven by revolutionary technologies such as blockchain, digital currencies, and decentralised finance (DeFi). These digital assets—which include cryptocurrencies like Bitcoin and Ethereum, Central Bank Digital Currencies (CBDCs), stablecoins pegged to national currencies, and tokenised commodities—are reshaping the very foundations of how economies trade, invest, and interact financially.
Blockchain, the underlying technology powering these digital assets, offers unprecedented transparency, security, and efficiency, fundamentally challenging traditional banking and financial models. But what does this digital transformation mean for the developing economies of Africa? How can African nations strategically harness these innovations to enhance trade, attract investments, and modernize financial systems?
APAC Remitters, Be Ready for a New Era in Cross-Border Money Movement
With its estimated US$1.6 trillion in cross-border payments, the APAC region is poised to benefit significantly from the surge in cross-border money movement.
As remitters, banks, fintechs, and other stakeholders in the ecosystem embrace faster, more secure, transparent, and cost-effective transactions, they stand to gain from the global opportunity that has reached US$200 trillion.
Factors such as international commerce growth, digital technology, machine learning advancements, and flexible work arrangements are driving this expansion.
RTA completes 40% nol digital payment system upgrade
Dubai’s Roads and Transport Authority (RTA) has completed 40 per cent of the nol system upgrade, in a transition from the existing card-based ticketing system to use more advanced account-based ticketing (ABT) technology.
Director-General, Chairman of the Board of Executive Directors of RTA, Mattar Al Tayer, stated, “Given the scale of the project, which has a total cost of AED 550 million, it has been divided into three key phases.
In the first phase, the central system will be upgraded to create digital accounts for users, linking them to their existing nol cards. The second phase will introduce a new generation of nol cards, incorporating advanced technologies aligned with international standards to ensure compatibility with banking card technologies.
Read more: https://www.dubaieye1038.com/news/business/rta-completes-40-of-nol-digital-payment-system-upgrade/
UK’s FCA Seeks Comment on Removing Contactless Card Payment Limit
The United Kingdom’s Financial Conduct Authority (FCA) is seeking public comment on its proposal to remove the 100-pound (about $129) limit on contactless card payments.
The FCA released an engagement paper that outlines several ways the regulator could alter its approach to contactless payment limits Friday (March 14) and will accept comments on the paper until May 9.
The regulator currently sets limits on the value and number of contactless payments that consumers can make before authentication, such as a PIN entry, is required, according to a call for input published Friday.
