Category: FINTECH
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CBN Governor unfolds five-year agenda, targets increased financial inclusion, bank recapitalisation.
Bassey Udo The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, on Monday unfolded the policy direction of his new five years tenure, promising to facilitate access to financial services to 95 per cent eligible Nigerians by 2024. Mr Emefiele, who acknowledged much was still left to be achieved from a similar agenda set in…
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Using Tech to Seal the Insurance Gap.
Can’t wait to have @tobyhanington Co-founder of @thebaobabnetwork at @africa3_0 organized by @marketmindsltd my company @evolutioneastafrica and our PR Firm @thecurejsoul,he will be moderating a panel on successful partnerships at AFRICA 3.0 event #sealthegap #insurtech EARLYBIRD Tickets on Sale Now! 15th July | VIP Pitching Event, Nairobi. 16th July | Radisson Blu, Nairobi. africa3point0.com
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Using Tech to Seal the Insurance Gap
The conference dubbed Africa 3.O is the first conference outside of London organized by MarketMinds and the event is in partnership with the UK government and will be held on 15th and 16th July, 2019. The two-day event will provide the first platform for tech start-ups in the East African Region specifically in health, agriculture…
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Banks enrol 65,753 mobile money agents.
Chances of the Central Bank of Nigeria (CBN) meeting its target of having 500,000 mobile money agents to serve about 105 million adult Nigerians by the year 2020 looks increasingly remote, as financial institutions in the country have so far enrolled only 65,753 of such agents. This means that with less than two years to…
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Visa Launches Visa B2B Connect In 30+ Markets.
It was late November 2017 when the world got its public preview of Visa B2B Connect at the Singapore FinTech Festival. It was described then as an idea to solve the many frictions inherent in sending money from one bank account to another across borders, typically between corporates — and of a large denomination. “From…
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MTN creates subsidiary for mobile financial services
Ife Ogunfuwa MTN Nigeria has registered a new subsidiary with the Corporate Affairs Commission, Yello Digital Financial Service Limited. The subsidiary, which has yet to commence operations, was created in June 2018 to provide mobile financial services to Nigerians. The creation of a subsidiary is one of the requirements stipulated by the Central Bank of…
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Financial inclusion drive is gaining momentum in the country as Nigeria embraces electronic payment channels.
Nigerians transacted businesses worth N183.4 billion through mCASH in the first three months of this year. New Telegraph learnt that the mobile payment platform, which was recently re-launched by the Nigerian Inter-bank Settlement Systems (NIBSS) in partnership with banks and telecom operators, is now gaining traction among mobile users. mCASH is a mobile payment system…
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Microfinance Banks in Nigeria- The Prospects.
Jola-michael Samson. T : Financial Inclusionist. Provision of loans is what most people know about microfinance; it is also the provision of payments services to the low-income earner. Microfinance Bank was established by the Central Bank of Nigeria (CBN) to provide these services in order to alleviate poverty. It is evident that this goal has…
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MTN Group launches Africa’s first artificial intelligence service for Mobile Money.
MTN Group is proud to announce the launch of Africa’s first Mobile Money (MoMo) artificial intelligence service or “chatbot”. The chatbot went live in Ivory coast in May and will be rolled out across MTN’s MoMo footprint in the next few months. The artificial intelligence mobile money “assistant” enables customers to engage with MTN’s MoMo…
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The Financial Inclusion Journey: Emergence of Digital Wallets in Nigeria.
A digital wallet also known as “e-wallet” refers to an electronic device or online service that allows an individual to make electronic transactions. This can include purchasing items on-line with a computer or using a smartphone to purchase something at a store. An individual’s bank account can also be linked to the digital wallet. (Wikipedia)…