Category: Mobile Lending
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QuickCheck partners Jumia, PayAttitude for financial inclusion
QuickCheck, a micro-lending mobile platform that provides collateral-free loans, has announced its new partnerships with Jumia and PayAttitude, to provide credit access as a catalyst for economic growth and development. According to the Chief Executive Officer (CEO), Fabiano Di Tomaso, increased e-commerce transactions and smartphone penetration are indicative of a population segment seeking a higher…
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Mobile money war: Telecoms threaten banks’ future in Nigeria
Fakoyejo Olalekan The future of commercial banks is gradually slipping into the hands of telecommunication companies, and this doesn’t bode well for the Nigerian lenders, as the inroad into mobile money market by network providers is likely to make banks redundant soon. Before the entrance of the GSM firms in Nigeria’s telecommunication industry in 2001,…
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CAN CASH TRANSFER PROGRAMS DEEPEN FINANCIAL INCLUSION IN NIGERIA?
Tochukwu Okwuanya Lagos, Nigeria In the past five years, I have had boots on the ground in the quest to deepen financial inclusion in Nigeria; first as Agent Network Manager for one of the early Digital Finance Startups in Nigeria, but later as a Product Manager for one of the Mobile Money Operators in Nigeria.…
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Financial inclusion: Expert advocates mobile money adoption.
by Samson Akintaro The Managing Director, Hollaport Technologies Limited, Mr Kabiru Rabiu, has urged Nigerians to embrace the use of mobile money to deepen financial inclusion in the country. He made this call in Lagos during the launch of a new payment-in-messaging platform that brings a mix of social media excitement with financial technology. The…
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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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FirstBank Demystifying Financial Inclusion With XploreFirst
Worried by the increasing rate of the unbanked population, the Federal Government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020. The CBN carried out the campaign through agency banking, mobile banking/mobile payments, linkage models and client empowerment, to…
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New Banking Model At Play In Nigeria.
Author: VINCENT NWANMA A financial model designed by the Central Bank of Nigeria to open up the country’s financial-services sector is unfolding, set to kick off later this year. Telecoms are among the 30 applicants currently being registered by the central bank to operate as Payment Service Banks (PSBs), and their likely encroachment has already sparked…