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
Payless Unveils Game-Changing Bank-to-Payless Feature, Redefining Fintech Innovation in Kenya
NOV 27 – Payless, the fintech disruptor revolutionizing Kenya’s financial services landscape, has unveiled its highly anticipated Bank-to-Payless feature. This innovative functionality allows customers to transfer up to Ksh. 250,000 per transaction and up to Ksh. 500,000 daily directly from their bank accounts to their Payless wallets, bypassing traditional mobile money rails.
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The announcement, made during Payless’ DemoDay 2024 on November 25, marks a significant milestone in the company’s mission to create the most loved and affordable Pan-African payments and financial services superapp. Hosted at an exclusive after-hours mixer, the event brought together tech enthusiasts, influencers, bloggers, and members of the press for a hands-on experience of the new feature.
Egypt: e-finance, Cassava Technologies forge partnership to expand across Africa
Egypt – e-finance has signed an agreement with Cassava Technologies to explore collaboration and joint expansion opportunities across Africa, as per a statement.
Cassava Technologies will bring its extensive infrastructure and pan-African experience, while e-finance will contribute its leadership in Egypt’s digital transformation and financial technology sectors.
The collaboration is expected to introduce innovative solutions to Egypt’s market and enhance digital offerings across the continent.
What the future of payments in Africa looks like
Financial inclusion is an elusive goal that is now closer to realisation than ever.
It’s being tackled through a variety of innovations from traditional banking and non-banking sources such as fintechs.
The push for digital financial inclusion is grounded in sound economics – it lowers the costs of transactions, which in turn leads to higher economic growth, according to a World Bank report.
Jack Ma’s digital empowerment: African innovation reads
Jack Ma, the co-founder of Alibaba Group, has left an indelible mark on digital empowerment and entrepreneurship in Africa.
By cultivating innovation and opening doors for young entrepreneurs across the continent, he has sparked a digital revolution.
This article presents a curated selection of insightful reads exploring the transformative power of digital technology on African innovation, echoing Jack Ma’s vision.
Singapore and China Collaborate on Digital Assets, AI, Green Finance Supervision
The Monetary Authority of Singapore (MAS) and the Chinese National Financial Regulatory Administration (NFRA) convened in Suzhou, China, to reaffirm their commitment to strengthening supervisory cooperation.
The MAS-NFRA Supervisory Roundtable, held in person for the first time since 2020, took place on the sidelines of the 30th anniversary commemoration of the Suzhou Industrial Park.
Co-chaired by MAS Deputy Managing Director Ho Hern Shin and NFRA Vice Minister Zhou Liang, the discussions addressed supervisory priorities for banks operating in both jurisdictions, updates to NFRA’s insurance supervision framework, and developments in the asset management sector.
Read more: https://fintechnews.sg/104335/fintech/mas-nfra/
Insights On Empowering African SMEs With Fintech Solutions
Technology is transforming industries at an unprecedented pace, and fintech stands out as a key driver of financial inclusion and business growth. Payaza is at the helm of this shift, empowering African SMEs with innovative financial tools and payment solutions. In this interview, Tochukwu Ekwonna, Payaza’s CFO delves into their journey into fintech, the unique challenges faced by SMEs on the continent, and the role of emerging technologies in shaping the future.
Q. Can you share your journey to becoming CFO at Payaza? What drew you to fintech and specifically to payments technology?
My journey to becoming CFO at Payaza has been shaped by a passion for driving financial inclusion through innovation. I started in traditional finance, honing skills in corporate strategy and financial management, but I was drawn to fintech because of its transformative potential. Payments technology, in particular, offers an opportunity to bridge gaps, empower underserved communities, and revolutionize how businesses operate. Joining Payaza allowed me to combine my financial expertise with a mission-driven focus to make impactful changes for African SMEs.
Read more: https://cioafrica.co/insights-on-empowering-african-smes-with-fintech-solutions/
Visa selects 19 startups from 3rd Africa Fintech Accelerator
Visa has selected 19 startups from across the continent to take part in the third edition of its biannual Africa Fintech Accelerator, which provides ventures with access to tools, industry connections, and mentorship to help them scale their innovative solutions.
Launched in 2023 in line with Visa’s pledge to invest US$1 billion in financial inclusion in Africa by 2027, the Africa Fintech Accelerator has so far accelerated 45 startups across two cohorts, with 15 active partnerships now in place.
Four startups that took part in the first programme last year recently secured strategic funding from Visa, which has now announced the 19 ventures selected for the third edition of the three-month programme.
Read more: https://disruptafrica.com/2024/11/27/visa-selects-19-startups-from-3rd-africa-fintech-accelerator/
Spend management platform Spendesk launches payment institution
Spendesk provides finance teams at midmarket companies with a SaaS spend management system for full visibility and control on all company spending — with every purchase trackable to a person, a project, and a budget. In 2022, the company hit unicorn status on a €100 million Series C funding round.
With Spendesk Financial Services, including a strategic collaboration with Visa, the company can now deliver a payments offering to its 5000 clients across France and the European Union.
Beyond payment management, Spendesk Financial Services enables the platform to centralise operational processes and introduce new features faster. The financial services include account management and the provision of various payment methods like physical and virtual business cards as well as transfers.
