Canada-Africa Fintech Summit – Canada-Africa Fintech Convergence – Nurturing Talents, Fueling Growth, Forging Cross-Border Prosperity for Sustainability
For more info., check here: www.cafsummit.com
VitalSwap Goes Live With A Virtual Dollar Card That Works On All Platforms— Offering Affordable Rates & Low Transaction Fees.
VitalSwap virtual dollar card offers the best exchange rate for any international transaction.
VitalSwap, a leading payment platform enabling Africans to make USD payments to businesses worldwide, has expanded its offerings with the launch of its virtual dollar card.
Its unique benefits are its exchange rates and mission to eliminate high transaction costs to simplify the online payment process for everyone who makes cross border transactions. This gives every African an opportunity to operate in the global economy.
Kora Harps on Africa’s Fintech Growth, Expansion at Inaugural Session
Kora, a Pan-African business payments infrastructure, at the weekend in Lagos, hosted its first Sundown Session that brought together Africa’s most innovative fintech players to discuss adaptive growth strategies and blitzscaling for B2B fintechs across the African continent.
At the inaugural session, fintech players raised the concern about challenges in cross-border payments and the need to develop solutions that would address such challenges and how African fintechs could further grow and expand their businesses.
The first panel, titled: ‘Adaptive B2B Strategies for African Fintechs’, explored unique strategies for success in Africa’s competitive B2B fintech landscape. The session featured music executive and Nigerian rapper, Jude MI Abaga, alongside Head of Sales at Transactworld Digital, Oladapo Sadibo; Divisional Head of Payments and Solutions at FCMB, Frank Atat; and CEO and Founder of PayOnus, Oyinye Olisah.
Socium doubles down on Francophone Africa after $5M seed round
Demand for HR-tech solutions in Africa is growing, and Senegal’s Socium is out to tap the opportunity in French-speaking countries on the continent.
Socium has since 2021 built HR solutions that target users within the 21 countries of Francophone Africa and plans to continue narrowing its focus on the region, where it is enjoying first-mover advantage.
Socium co-founder Samba Lo (CEO) revealed these plans to TechCrunch and told us the startup has also raised $5 million seed funding to fuel its growth plans in the region.
Read more: https://techcrunch.com/2024/11/18/socium-raises-5m-seed-led-by-breega/
Mobile money services team up for transfers between South Africa and Zimbabwe
Mobile money services MTN MoMo in South Africa and EcoCash in Zimbabwe have partnered to provide what are described as effortless direct cash transfers between the two countries.
The partnership, which brings together the strength of MTN and its popular MoMo app and the extensive reach of EcoCash, managed by leading operator Econet Wireless, provides a reliable, efficient and affordable way to move money directly into EcoCash electronic wallets, according to Kagiso Mothibi, Chief Executive Officer for Fintech, MTN South Africa.
He says: “Many Zimbabweans in South Africa using MTN MoMo as their mobile money provider can now use EcoCash link, which does away with the need to use expensive and, often, time-consuming traditional remittance channels to get money to loved ones.”
Spanish banks first to onboard to EU instant cross-border payment scheme
The entire Spanish banking community has been fully onboarded following pilot trials conducted in June 2023 with CaixaBank, Santander, BBVA, Swift, Iberpay and several international banks in different countries.
OCT Inst is a cross-currency payment scheme to support the processing of incoming and outgoing international instant account-to-account based credit transfers. It is the first EPC scheme which covers exclusively the Euro Leg of international instant credit transfers entering or leaving the geographical scope of Sepa.
This is designed to ensure faster execution of international payments, more transparency on costs and better payment status traceability.
Revolut Trading secures UK trading licence to expand investment services
Revolut Trading has secured a UK trading licence from the Financial Conduct Authority (FCA), marking a significant step forward in its mission to provide advanced investment services.
The licence enables the company to expand its trading capabilities, offering new products and features, including UK-listed stocks, to its growing customer base.
Since 2019, Revolut’s Trading feature has operated in the UK as an Appointed Representative through a partnership with a Principal firm. This arrangement allowed retail customers to trade US-listed shares via the Revolut app. With the new stand-alone licence, Revolut Trading Ltd becomes an authorised investment firm, poised to deliver a better user experience for over 650,000 existing UK trading customers.
