Essymart is empowering Ugandan farmers with FinTech solutions
Essymart Africa utilizes USSD (Unstructured Supplementary Service Data) technology to deliver information to farmers via their cell phones. Farmers can dial a USSD code to access information on weather, local market prices, farming practices, water management techniques, and agricultural subsidy programs.
The platform also provides personalized advice to farmers based on their location and type of farm, and allows them to ask questions and receive answers from agricultural experts.
Essymart Africa has integrated financial technology into its platform to enable farmers, input dealers, and other users to make and receive payments through mobile money and bank transactions. The platform also facilitates access to farm inputs on credit, providing relief to farmers from financial stress.
Read more here: https://thefintechtimes.com/sav-uae-fintech-receives-key-regulatory-approval-for-expansion/
CRMI Set to Establish African Risk Management Federation
The Chartered Risk Management Institute (CRMI) is gearing up to host its 23rd Annual Conference, where it will also sign a landmark Memorandum of Understanding (MOU) to establish the Federation of African Risk Management Associations.
Set to take place in Lagos, the conference will bring together top professionals, thought leaders, and stakeholders from across the continent to address Africa’s most pressing challenges. Themed ‘The Emerging Crisis in Africa and the Way Forward,’ the event aims to foster strategic discussions on crucial issues.
In a statement, CRMI highlighted that this year’s conference represents a significant step in elevating Africa’s role in global risk management. Commenting on the conference, CRMI President Ezekiel Oseni stated: “We chose the theme because of the numerous global developments that have far-reaching implications for our continent. Geopolitical issues, bilateral agreements, FinTech advancements, and the rise of AI all have significant impacts on Africa’s welfare and growth. During this conference, we will explore these topics, along with fintech, climate change, market volatility, and more.”
Read more here: ttps://www.thisdaylive.com/index.php/2024/08/12/crmi-set-to-establish-african-risk-management-federation/
Strengthening Financial Resilience: Huawei’s Role in the Future of Finance
The financial sector is on the edge of a major transformation powered by continuous technological advancements. At the recent Huawei HiFS Frontier Forum 2024 in Shenzhen, industry leaders discussed how cloud, network, storage, and computing infrastructures can strengthen financial systems’ resilience.
The forum’s theme, “Boost Resilience, Reshaping Smarter Finance Together,” encapsulates the industry’s collective ambition to navigate the challenges of an uncertain future through technological excellence and collaborative innovation.
This gathering comes at a pivotal moment. Traditional banking boundaries are dissolving, and the definition of financial services is evolving unprecedentedly.
‘Collaboration, innovation crucial to financial literacy’
A leading Africa-focused fintech platform, PalmPay, has called for collaboration and innovation among banks and fintechs to drive financial inclusion at the last mile. The call came from the Head of Partnerships, PalmPay, Chibuzor Melah, who made this known during the Nigeria Fintech Forum held recently in Lagos. The event themed – Building the Next Frontiers for Nigeria’s Fintech, brought together key stakeholders from both the public and private sectors, including regulators to discuss the rapid advancements in Nigeria’s financial technology industry.Speaking on a panel session themed: Rewriting the rules: Building an open, innovative and collaborative bank of the future, Melah noted that “PalmPay is a technology-driven company that believes in collaborating and innovating to deliver value to customers.
“What has given us success in the past 5 years of operation is our investment in data which gives us insights into customer behaviour. This enables us to create tailor-made solutions suitable for our customers. Our insight driven strategy has helped us reach out to the unbanked thereby building trust in open banking,” he said.“We have succeeded by collaborating with other players in the financial sector.
Read more here: https://tribuneonlineng.com/collaboration-innovation-crucial-to-financial-literacy/
Navigating New Markets: Flutterwave’s Strategy for Overcoming Expansion Challenges
The African fintech company Flutterwave is expanding its presence in North America, bringing more of its payments services to clients in the United States. But as one of only seven unicorns (a startup valued at more than $1 billion) in Africa continues to grow, how will it resist the challenges that come with scaling?
Flutterwave founder and CEO Olugbenga “GB” Agboola signaled the company’s intent with a series of high-profile moves in recent months. Thanks to a recent round of remittance and payments licenses in several countries and 13 additional U.S. states, as well as a raft of new hires, Flutterwave seems to have laid the groundwork for significant expansions on several fronts. This brings Send App by Flutterwave the ability to serve customers in a total of 29 U.S. states.
Read more here: https://www.analyticsinsight.net/fintech/navigating-new-markets-flutterwaves-strategy-for-overcoming-expansion-challenges
UAE Fintech Sav Receives Key Regulatory Approval for Expansion
Sav, a UAE-based fintech, has secured in-principle approval for a Category 4 licence from the Dubai Financial Services Authority (DFSA).
This will enable the company to expand its offerings and provide regulated financial services, reinforcing its mission to streamline money management for the mass affluent.
At present, Sav’s platform enables users to efficiently manage their finances while benefiting from a rewarding prepaid card. With the DFSA licence on the horizon, Sav also plans to expand its platform to include investment services, money management and debt advisory, alongside its existing prepaid card offering.
Purvi Munot, CEO of Sav, said: “Many of the UAE’s mass-affluent grapple with fragmented finances spread across multiple platforms, leading to unnecessary complexities and delays in decision-making. This endorsement empowers us to streamline and innovate, bringing all financial solutions under one roof, enhancing how users interact with their money.”
Read more here: https://thefintechtimes.com/sav-uae-fintech-receives-key-regulatory-approval-for-expansion/
Pay with SeerBit: SeerBit and Kuda Join Forces to Empower Businesses with Inclusive Payment Solutions
SeerBit, a Pan African innovator in secure and seamless payment solutions, has entered into strategic partnership with Kuda, a digital bank driving financial inclusion, to boost the reliability and convenience of online payment for businesses and other users.
The partnership enables millions of Kuda retail customers to make seamless payments on SeerBit’s checkout platform without inputting their card details, further assuring the security of their transactions.
At checkout, Kuda customers can now look out for the ‘Pay with SeerBit’ option on Nigerian websites and apps when making online payments. Customers can then select Kuda for bank transfer payments and complete the transaction by generating a Pay ID from the Kuda app.
Read more here: https://techeconomy.ng/pay-with-seerbit-seerbit-and-kuda-join-forces-to-empower-businesses-with-inclusive-payment-solutions/
Sendsprint Acquires Nobel Financial to Expand US-to-Africa Remittance Services
Sendsprint, a rapidly growing remittance startup founded in 2022 by former Flutterwave executive Damisi Busari, has completed the acquisition of Nobel Financial Inc. for an undisclosed sum.
The acquisition marks a significant milestone in Sendsprint’s expansion, enabling the company to extend its services to users in 16 American states.
Sendsprint, known for its efficient money transfer service with a flat fee of $5, currently operates in Nigeria, Ghana, Kenya, South Africa, and the United Kingdom.
Read more here: https://www.crowdfundinsider.com/2024/08/228709-sendsprint-acquires-nobel-financial-to-expand-us-to-africa-remittance-services/
Read more here: https://thefintechtimes.com/sav-uae-fintech-receives-key-regulatory-approval-for-expansion/
