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Fawry is educating unbanked population to trust electronic payments. Fawry would not have existed in a mature economy, where electronic payments are dominant. In that sense, Fawry is filling a gap left by banking players in Egypt.

One of the most striking differences between banking in Europe and in Egypt is cash management. Withdrawals and deposits of cash are the dominant operations in the Egyptian banking branches. It is frequent to meet customers with big bags of money in or out of banking branches. In Europe, anti-money laundering laws and electronic payments popularity made large cash operations extremely rare.

The success of Fawry comes from leveraging the best of the 2 means of payment: cash for its reliability and availability, and electronic systems for their seamless and fast processing.

M-PESA's International Money Transfer (IMT) service allows anyone wishing to send money to Kenya to visit one of several Safaricom IMT partners (such as Post Finance, World Remit, and Western Union) and send money to an M-PESA mobile phone in Kenya. Money transfers are received almost instantly, and at no expense to the recipient.

M-PESA is the result of a partnership between Vodafone and Safaricom, a Kenyan mobile network operator. M-PESA's International Money Transfer (IMT) service allows anyone wishing to send money to Kenya to visit one of several Safaricom IMT partners (such as Post Finance, World Remit, and Western Union) and send money to an M-PESA mobile phone in Kenya.

Like many parts of the developing world, Africans are significantly less likely to have bank accounts and credit or debit cards. But mobile phones have penetrated the African market, and in countries such as Nigeria and Kenya, the majority of people have a workable phone.

M-Pesa is a Kenyan mobile payments platform, one of the first of its kind in Africa (

he service has been a runaway success since launching in 2007, operating in 10 countries across Africa, the Middle East, and Southeast Asia and earning Safaricom 19.4 billion shillings (about $190 million) in the first half of 2015. It seems likely that as cell phone use continues to proliferate on the African continent, M-Pesa's transactions will grow, too.

The startup will use the proceeds from the funding to expand into new markets and launch new products. Jumo is targeting entrepreneurs in emerging markets — and plans to offer next-generation savings, lending and insurance products to them. 

The startup currently operates in five African countries — Kenya, Ghana, Uganda, Zambia and Tanzania. It closely works with financial firms and telecoms to provide its services, media reports said. 

The idea to expand to higher educational micro-loans was gradual and evolved mostly with feedback from the field.

Fintech, at the heart of the banking sector revolutionObviously, Fintechs and traditional banks adopt very different strategies. Indeed, while traditional institutions have a long-term vision (analysis of the financial market, risk amortization), neobanks prefer immediate action.Thus, we can consider that there are two categories of Fintech on the market. On the one hand, regulated companies that ensure compliance with regulatory constraints, and on the other, those that adopt a completely different strategy based on customer satisfaction.The first category positions itself as a direct competitor of banking establishments, while the second opts for cooperation and encourages the buyout or majority stake.Fintechs base their strategy on customer dissatisfaction, especially with their bank . These new shoots seek to improve every aspect of the banking relationship, as a priority, by neglecting issues related to organization, compliance and profitability.However, professionals remain skeptical. Do these FinTechs really hope to succeed in a few months, where several players have been striving for years? By this we mean the fact of wanting to change the regulations of the sector or even the constitution of a team of experts within a short time.So far, experts in the banking industry doubt a real revolution in banking regulation.Traditional banks remain priority players in the marketDespite the emergence of remote banking and the new measure on banking mobility , traditional banks remain the majority players in the market. Indeed, new brands are still struggling to reach the same level as a "real" bank.In addition, for the time being, income from investment funds and venture capitalists has not been of much use to the banking sector. Remember, however, that it is thanks to them that certain brands such as Uber, Amazon or Tesla have succeeded.Today, players in e-commerce are using capital increases to compensate for losses, a technique that has not yet been adopted in the banking sector. As a starting point, SoftBank has already started by building up a $ 100 billion fund for banking technology.

Cotlands is proud to be partnering with EasyEquities for a cause related marketing initiative with their investor community through #DonateForGood.  EasyEquities and the EasyCommunity want to play their part by supporting Cotlands beneficiaries that are adversely affected by the COVID-19 outbreak. EasyEquities have created a feature on their platform inviting investors to donate to our organisation. You can make a donation on the share purchase page on the EasyEquities platform. All you need to do is to make sure you have enough funds in your available cash. This donation feature is available in the EasyEquities ZAR and TFSA accounts. 

SimbaPay is an award winning mobile app transforming the international remittance space. With a focus on extreme speed, convenience and constant innovation.

MTN has 232 million mobile subscribers and 20 million mobile money subscribers throughout operations in Afghanistan, Benin, Botswana, Cameroon, Côte d’Ivoire, Cyprus, Ghana, Guinea Bissau, the Republic of Guinea, Iran, Liberia, Nigeria, the Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. MTN’s vision is to lead the delivery of a bold new digital world by building a best-in-class experience for customers.

Founded in 1994, the MTN Group is a pan-African mobile and telecommunications operator.

MTN is headquartered in Johannesburg, South Africa, and listed on the JSE Securities Exchange under share code MTN.

In its full year 2019 financial results, MTN saw revenue grow 9.7%, while service revenue increased 9.8% and subscriptions grew by 18.2 million to reach 251 million. Further, the group’s chief executive Rob Shuter, announced he will step down at the end of his current contract, in 2021.

Nigerian telecom operator MTN has received regulatory approval for the sale of its 49% stake in ATC Ghana. The sale is expected to generate $384 million with funds due to be transferred over the coming week. It follows the sale of MTN’s 49% stake in ATC Uganda.

MTN Mobile Money (MoMo) subscribers in Cameroon can now receive international money transfers through MoneyGram directly into their mobile wallets. This is thanks to a recent partnership between MoneyGram and MFS Africa, which extends the inbound international money transfer service to MTN MoMo payment accounts on new channels.

‘’Clearly, Ozow is another step towards making it more secure and safer for millions of South Africans to perform mobile transactions conveniently through a USSD code or the MoMo app,’’ says Felix Kamenga, Chief Officer of MTN Mobile Financial Services, South Africa.

The remittances services were declared an essential service during the lockdown restrictions to curb the spread of the Covid-19 pandemic.South Africa moved to level 3 lockdown late in December after the country breached the one million mark of confirmed Covid-19 cases while Zimbabwe went into a hard lockdown as the entire country was declared a coronavirus hotspot as the infection rates drastically surged in all the country’s regions.“We remain cautiously optimistic we can continue in the year ahead to layer new products and services onto our platform to unlock value and move our customers up along the financial inclusion curve.“We will also constantly look to build our network and footprint across Africa and beyond, which will allow us to grow our business not only in terms of the breadth of relevant products and services we offer, but in the depth of customer markets we serve,” said Jury.

A new Kenyan startup called Abacus (www.abacus.co.ke) is a licensed data vendor with the Nairobi Securities Exchange(NSE).Its been in existence since 2015 and just early this year,in partnership with Genghis Capital and Chase bank,they began offering subscribers the ability to deposit,buy,sell and trade unit trusts,bonds and equities on their platform.

A new Kenyan startup called Abacus (www.abacus.co.ke) is a licensed data vendor with the Nairobi Securities Exchange(NSE).Its been in existence since 2015 and just early this year,in partnership with Genghis Capital and Chase bank,they began offering subscribers the ability to deposit,buy,sell and trade unit trusts,bonds and equities on their platform.

All in all,Abacus allows you to easily get started on the road to investing in the NSE,its available on the web through www.abacus.co.ke and the android app is available on the Google play store,A basic subscriber account is easy to set up and allows one to easily get started with practise trading with virtual funds and realtime NSE data on market open so that one can learn.

Thndr’s first product is a mobile-first equities trading platform in Egypt. The startup has just acquired the necessary licensing from the Financial Regulatory Authority (FRA), making it the first company to acquire a brokerage license in Egypt since 2008. 

Egyptian fintech startup Thndr, a participant in the most recent Y Combinator accelerator, is gearing up for its formal launch after receiving the first new brokerage license granted in the country in over a decade.

Ismail Ahmed, founder and CEO at WorldRemit, states that WorldRemit customers can send money with just a few taps on their smartphone and that the new cash pick up service in Algeria enables people in the diaspora to send money to be collected as cash at financial brands back home. WorldRemit customers currently send over 500,000 transfers every month

Digital money transfer service WorldRemit has launched new cash pick up services in Algeria. With the WorldRemit app or website, people in more than 50 countries can send instant money transfers to more than 125 destinations. WorldRemit customers can now send money to be collected as cash from any branch of Trust Bank Algeria.

Digital money transfer service WorldRemit has launched new cash pick up services in Algeria.