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The announcement by Standard Chartered and Airtel Africa on their collaboration on co-creating financial services products continues the trend of the rise of Fintech solutions available to Africans.
Vodacom M-Pesa - has announced the expansion of its International Money Transfer service portfolio. Vodacom customers will now have the option and ability to easily transfer and receive funds from individuals across more than 200 countries worldwide.
Financial inclusion initiatives directed at poorer people in South Africa should be closely monitored. This is because they don’t always have a positive impact, particularly on poor people.
Mobile money has proved popular among many African countries. However, in Cameroon, Glomo Money, an indigenous mobile money service, is struggling as it cites that government is supporting multinational companies better than local ones.
First tested in India during 2018, WhatsApp has now officially introduced a payments feature for its approximately 120 million users in Brazil. The feature is expected to be rolled out to other markets.