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
Nigeria’s Fintech Sector Attracts $2bn Investment In 2024 — Report
Nigeria’s fintech sector attracted over $2 billion in investments in 2024, the Office of the Special Adviser to the President on Economic Affairs in the Office of the Vice President, has disclosed.
The Economic report, dated November 2024, was launched on Friday in Abuja.
The report highlighted that Telecommunications and ICT, especially fintech, constituted one of the key sectors that drove the nation’s economic growth in 2024, with the potential to replicate or double the same feat in 2025.
The report which also featured contributions from the federal government, the Nigerian Economic Summit Group (NESG), and Global Analytics Consulting, stated that with projections indicating continued growth, ICT’s contribution to GDP could reach 22 per cent by 2025.
Access Bank Completes Acquisition of Standard Chartered Bank Angola, Sierra Leone’s Standard Chartered Bank
Nigeria’s major financial institution, Access Holdings Plc, has announced the completion of its acquisition of two additional banks in Angola and Sierra Leone.
In a recent statement on the development, the bank said, ‘Further to our July 14, 2023 announcement regarding the above subject, Access Holdings PLC (‘Access Holdings’ or ‘the Company’) is pleased to announce that its flagship subsidiary, Access Bank PLC (‘Access Bank’ or ‘the Bank’) has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited (‘the Acquisitions’)
Digital Payments Revolution: Rwanda’s New Virtual Card Solution
Mobile Money Rwanda Limited (MoMo Rwanda) has unveiled a groundbreaking virtual payment solution in collaboration with Mastercard and I&M Bank. The Virtual Card by MoMo marks a significant stride in digital financial services, enabling customers to engage in secure global e-commerce transactions.
The innovative virtual card provides MoMo customers with unprecedented access to international online shopping platforms. Customers can now make purchases across global outlets accepting Mastercard, expanding their digital financial capabilities.
This strategic partnership extends beyond Rwanda, forming part of MTN Group’s broader initiative to enhance digital payment experiences across 13 African countries. The solution addresses the growing demand for seamless digital transactions and cross-border payment methods.
Read more: https://www.techinafrica.com/digital-payments-revolution-rwandas-new-virtual-card-solution/
Qatar Gets Digital: New Banking Rules for a Cashless Economy
- Qatar Central Bank unveils digital banking rules, marking a new fintech era in the GCC.
- The framework aims to ensure innovation while safeguarding consumer interests and financial stability.
- Qatar is embracing digital banking to position itself as a leader in the region’s tech-driven economy.
Qatar Sets Digital Banking Rules
Imagine scrolling through your phone to access a 100% digital bank—no paperwork, no physical branches. Sounds futuristic? Not anymore. Qatar Central Bank (QCB) just launched its much-anticipated digital banking rules, taking the country’s financial sector into the fast lane of innovation.
The framework addresses licensing requirements, governance, and operational procedures for fully digital banking entities. It is a roadmap that balances technological innovation with financial stability.
Read more: https://waya.media/qatar-gets-digital-new-banking-rules-for-a-cashless-economy/
Banque Misr launches Egypt’s first public digital auction in collaboration with ‘Belmazad’ platform
Egypt – Banque Misr has conducted Egypt’s first public digital auction to sell its real estate assets, marking a milestone in the adoption of innovative technologies in the banking sector. The auction, held in partnership with the Belmazad.com platform, represents a new era of transparent, efficient, and fair bidding, aligning with the goals of Egypt’s Vision 2030.
The Belmazad platform, developed by Tech Mazad, is the first digital platform in Egypt specializing in real estate asset sales via digital auctions. By leveraging advanced technology, the platform simplifies the auction process, enhances transparency, and delivers a seamless user experience, all while supporting Egypt’s digital transformation initiatives.
Ahmed Sobhi, Head of Financial Markets and Investment Sector at Banque Misr, highlighted the bank’s commitment to digital transformation as a cornerstone of its operations. He noted that Banque Misr’s support for the Belmazad platform aligns with the Central Bank of Egypt’s strategy to promote digital transformation and advance the shift towards a cashless society. Sobhi emphasized that Banque Misr intends to expand the volume of real estate assets offered on the platform, including assets owned by the bank and others entrusted to its management.
LIST | Morrocon Fintech, Joro Cash, Takes ‘Best Fintech Award’ at the 2024 AfricArena Grand Summit
Morrocan startup, Joro Cash, was announced winner of the Best Fintech Startup Award at the just concluded 2024 AfricArena Grand Summit held in Cape Town, South Africa.
More than 100 tech startups from 31 African countries, including winners of the TotalEnergies Startupper Challenge, participated in the 2024 AfricArena Grand Summit.
During the two-day Summit, 45 startups presented their pitches on AfricArena’s stage. The event was co-hosted by TotalEnergies, AWS Startups, the Technology Innovation Agency, GIZ SAIS, ESquared Investments, Wesgro, and the City of Cape Town.
Out of the 45, nine were selected winners across 9 categories. Below are the winners:
Read more: https://bitcoinke.io/2024/12/list-of-2024-africarena-summit-winners/
