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“Common investor wisdom is to stay in your market and dominate. This assumes that you are expanding on your own but we believe that by collaborating and partnering deliberately, Carbon and other tech companies can scale faster and build more enduring platforms,” Chijioke Dozie, chief executive officer (CEO) and co-founder of Carbon, said. 

Nigerian fintech startup Carbon has set up a US$100,000 pan-African fund to address the lack of funding and support holding back entrepreneurs on the continent.Consumer lending platform Carbon, which rebranded in April as parent company OneFi continues to transition into being a full digital banking platform after raising US$5 million in debt funding and acquiring Nigerian payments startup Amplify, has been busy expanding its offering, and has also moved into new markets with a Kenyan launch.Its “Disrupt fund” is the first of its kind by an African fintech startup, and will invest up to US$10,000 per startup for five per cent equity. Portfolio companies will also be given access to Carbon’s API, allowing them to leverage Carbon’s growing customer base and innovative technology platform to get to market faster. Carbon expects the initiative to spark more collaboration and further investment that should drive growth across the ecosystem, and is accepting applications from companies with operations in Uganda, Kenya, Nigeria, Ghana, Ivory Coast and Egypt. Startups looking to apply for the fund must have a functioning product, be post-revenue, and be looking to operate in multiple countries. The fund has a wide investment mandate but target sectors include insurance, health and education.“There are many excellent companies across the continent looking for the kind of scale Nigeria offers and we are excited to partner with them to provide the support and financial investment they need. We are equally excited to expand beyond Nigeria and Kenya by working with a new generation of innovators across the continent and sharing our experience to tackle common obstacles to growth.”

Nigerian fintech startup Carbon has set up a US$100,000 pan-African fund to address the lack of funding and support holding back entrepreneurs on the continent.

Lagos, Nigeria – Leading digital financial services company, Carbon, has released it’s 2019 financial statements audited by KPMG, detailing its product growth and $17.5mm in revenue.Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.Formerly called Paylater, Carbon pioneered instant lending in Nigeria and was the first mobile app to provide access to credit digitally and without requesting individuals to present the documents and collateral traditionally associated with accessing loans. Earlier this year, Carbon introduced its iOS app and USSD (*1303#) service. It also announced its Disrupt Fund, a $100,000 Pan-African fund to address the lack of capital for African tech startups.“The company will continue to share it’s audited financials annually, thus upholding a culture of transparency and accountability,” says Ngozi Dozie, Founder of Carbon.So far this year, Carbon has introduced multiple new features for its customer base including Carbon Express: a keyboard allowing users to make payments from any social app, periodic investments, free bank transfers, monthly wallet interest, and more.Carbon also plans to introduce debit cards, a reward program for loyal customers and SME accounts for entrepreneurs, in the months to come.You can find the full annual report here (https://bit.ly/2YNuvPw).About Carbon: Carbon (https://getCarbon.co) is a pan-African digital financial institution accessible via smartphones and which provides individuals with access to credit, a fee-free/interest-earning wallet, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management.Our mission is to empower opportunity globally through friction-free finance that empowers individuals and businesses. We are a global company of over 100 employees with operations in Nigeria, England and Kenya.

Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.

Leading digital financial services company Carbon from Nigeria posted all-time high growth last year

Lending through a pandemic COVID-19 has prevented them settling into Kenya, where there are no less than 50 digital lending platforms competing for an adult population that is over 80% financially included.  Reports of predatory lending have increased red tape in the East African country. A newly gazetted directive bars digital lenders from reporting defaulting borrowers below certain amounts to credit bureaus, among other rules.  It increases the time it will take for a new entrant like Carbon to comfortably express its various services. “We haven’t really had a chance to test the engine,” Dozie says, but they have given out enough loans to calibrate their algorithm. In Nigeria, they have reduced lending to shore up against the uncertainty caused by the pandemic, revising the repayment schedule for 9,016 loans. However, Dozie says they are currently at more than half the level achieved last year, in value and volume. Another profitable year ahead? Carbon’s products need overall improvement, in responding to customer complaints (see responses to this tweet) about deductions, and notification lags, among others. The pandemic’s impact on the Nigerian economy could have an effect on the company’s bottom line. Profit in the next report might as well be less impressive than what this year’s report contains. “It will be easier to beat [this year’s] numbers in naira terms, but we are all at the mercy of macroeconomics on the dollar terms,” Dozie says. He says they will report whatever happens, as part of a long-term pitch to customers who, he believes, will be impressed by an honest expression of financial strength. Otherwise, focus remains on leveraging other strategic moves from 2019, notably the acquisition of payments startup Amplify.  The latter’s intellectual property has gone into developing an SME platform, as well as in developing Carbon Express, a smartphone keypad button that can be used for instant transactions within any app. Carbon acquired Amplify particularly for this feature and their engineering. Maxwell Obi, one of Amplify’s two co-founders who joined Carbon as part of the deal, has left the company, but the others have been instrumental in building valuable aspects like an iOS app.

Another value-adding space is credit reporting. Carbon doesn’t produce the reports; they source from partner bureaus, and make them available to customers. 

In an audited report published this week, Carbon, the Nigerian fintech company, declared that it made the naira equivalent of $312,905 in profit after tax in 2019. 

BelCash’s helloCash service could have 2-3 million users this year and 10 million by 2017 or 2018, the firm’s chief executive Vince Diop said, adding that BelCash would receive a fee for each transaction made.

BelCash’s helloCash service could have 2-3 million users this year and 10 million by 2017 or 2018, the firm’s chief executive Vince Diop said, adding that BelCash would receive a fee for each transaction made.

Netherlands-based BelCash is offering a technology called helloCash, while MOSS ICT, mainly owned by an Ireland-based firm, is rolling out M-Birr in the nation of 96 million people.In both cases, Ethiopian banks and institutions will offer the service to customers and hold the cash deposited, in line with government policy that bars foreign firms or banks from investing in the financial sector or the telecoms industry.

As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model.

Our platform plans to use the leapfrog model to leverage our technology and give the 45 mill users around Ethiopia a new way to manage bills and provide the over 2.5 million Ethiopian diasporas in the United States a way to help their families

Send payments back home in an easy and secure way. Taking care of your loved ones back home does not need to be complicated. EthioPay makes it easy to send money without having to worry whether the money will reach your loved ones. Our secure platform uses bank-grade encryption meaning when you send money, your loved ones are guaranteed to receive it. You also never have to worry about your payment methods being compromised. Use our one-time payment system or set an ongoing schedule. We know that sending money home depends on multiple factors. Sometimes you will want to send a one-time amount, other times you will want recurrent payments. Ethiopay caters for both instances by offering you flexible payment options that you can adjust to your needs. This helps you ensure that you never miss a payment when it's needed. Avoid the headaches of keeping track of payments. You want to keep track of payments you make for your personal records. This can be a challenge when using other platforms. The Ethiopay User Account Dashboard offers a unified and detailed view of all the transactions you have made on the platform. Each entry shows the date and time stamp, amount, recipient and transaction status of every payment made. Pay education & utility bills back home with Ethiopay Paying utility and school fees is an important way of empowering your loved ones back home. Whether you are in North America or Europe, Ethiopay offers an easy and reliable way to do this. In addition, you can opt to set up scheduled payments so the payments are made at the beginning of each school term or any other time frame your choose.

Sahar Salama, CEO of TPAY Mobile says that its platform will “provide one simple integration giving digital entertainment players all-inclusive capabilities for bundling, billing, and multi-channel acquisition access to new markets and audiences covering up to 80% of the Middle East and Africa (MEA) population. What we bring to the table is an easy and convenient fintech solution built for mobile operators to connect even more users with premium digital services like Jawwy TV.”

Jawwy TV app, a result of the partnership between Intigral, Telecom Egypt (WE), and TPAY Mobile launched in Egypt. This mobile application is expected to provide a new digital entertainment platform for viewers. Jawwy TV can be accessed exclusively by WE subscribers from the subscription date after having a 30-day free trial. 

BCTS has reinforced its offer by the HelloServices and inspiring brand all-inclusive, aiming to connect all Ethiopian citizens for a brighter future; a future that unlocks the potential of the country and its diversity.

The digital transformation and e-payments company Fawry became the first listed tech company in Egypt with a market capitalisation of $1 billion last week. At the end of trading on 17 August, the market value of the company had jumped to LE15.56 billion (around $1 billion), meaning it is now rubbing shoulders with the likes of CIB (Egypt), QNB Al-Ahli, the Eastern Company, the Abu Qir Fertilisers Company, Telecom Egypt, and Al-Sewedy Electric in the EGX index billionaires’ club.

Over the last four years, our service has allowed the Ethiopian population to access the following services using their mobile phones: Health advice (HelloDoctor), Market access (HelloMarket / HelloGebeya), Labour market access, (HelloJobs / HelloSera), Legal advice (HelloLawyer / HelloTebeka), Mobile Trade service (HelloBroker/ HelloDelela).

Belcash Technology Solutions PLC (BCTS) is a registered Value Added Service (VAS) provider legally operating in Ethiopia. BCTS has obtained its licenses from Ministry of ICT and with a signed agreement with Ethio Telecom to provide services to the Ethiopian market.

The HelloCash Network is the largest financial service network in Ethiopia with 9,900 Service outlets across the country. Currently, within HelloCash network there are over 1,500,000 HelloCash customers. The network is expected to grow to 20,000 service outlets (Agent Network) by end of 2020.  

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 Ghanaian unit of African telecommunication giant MTN Group Ltd. is petitioning the highest court to review a declaration that it is a significant market power. Failure could result in stricter regulation.

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.

While other platforms are a one-size-fits-all, Ethiopay isn’t. We support the unique payment needs of Ethiopians including payments for school fees, telecom, utility bills and other needs that are close to your heart.

In order to prevent fraudulent transactions, Paga has put certain measures in place to protect its users. A user logging into an unrecognized device, for example, will have to answer a couple of security questions before proceeding. Again, every transaction using Paga has to be finalized with a personal PIN known only to the user.

Zeepay CEO Andrew Takyi-Appiah The Ghana Information Technology and Telecoms Awards have declared Zeepay CEO Andrew Takyi-Appiah the Best Fintech CEO of the Year 2020.

Zeepay CEO declared Best Fintech CEO of the Year | Value Added Services News in Ghana

BelCash Technology Solutions PLC (BelCash Ethiopia) (BCTS) is an affiliate company of BelCash International, incorporated in Netherlands, which provides Turnkey technology platforms based on the mobile phone. And other Telecom Value Added and related technological services Accordingly, it has partnered with specialized companies to provide essential services under the unique Hello Brand.

“Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a richer experience and more control for a customer to manage their profile,”

“Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a richer experience and more control for a customer to manage their profile,”