Mobile Money Increases Financial Inclusion in East Africa
International Monetary Fund report Financial Access Survey (FAS) shows that mobile money is increasing financial inclusion in the Sub Saharan Africa region. The survey measures and monitors financial inclusion and [...]
Zimbabwe Tightens Mobile Money Regulations to Save Plunging Currency
The Reserve Bank of Zimbabwe has put reins on mobile money and tightened rules on foreign exchange in an attempt to control its failing monetary system. Additionally, Zimbabwe has banned [...]
Uganda Cautions citizens against Cryptocurrency
The Ugandan Minister for Finance, Matia Kasaija has warned citizens against the use of cryptocurrencies. During a media briefing on the status of cryptocurrencies in Uganda, Kasaija warned the [...]Airtel Faces Mounting Losses in EA, Despite Growth in Uganda
Airtel's total loss in East Africa amounted to $46.5 million (KSh4.8 billion) in the last financial year. A massive chunk of the loss stems from losses in its Kenyan subsidiary. [...]Mpesa's Market Share in Tanzania increases to 41%
According to data from Tanzania's Communication Regulatory Authority, Vodacom’s Mpesa increased its customer base, volume, and value of mobile money transactions in six months from December 2018 to June 2019. [...]Vikas Mehta to Succeed Mathieu Plassard as Ogilvy Africa CEO
Vikas Mehta, who until now was the CEO of Mullen Lintas, is set to replace Mathieu Plassard as the Ogilvy Africa CEO following Mathieu's departure from Kenya to pursue the [...]South African Banks' Employees Plan to Protest on Friday
Around 50,000 South African banks' employees are set to demonstrate on Friday over retrenchment that has been ongoing in the banking sector in recent times. The planned strike will make [...]Ethiopia Plans to Decentralize Mobile Money
Ethiopia is currently reviewing a bill that will allow non-financial institutions to engage in mobile money transfer. In a bid to create a more inclusive financial sector, Ethiopia's central bank [...]EAC seeks to promote the regional automotive industry by restricting imports.
The East African Community is working to promote regional capacity in the car manufacturing industry by taking measures against imports. The measures include locking out duty-free car imports from the [...]China's Sinohydro halts works at Zambia's Kafue Gorge Hydroelectric Dam
China’s Sinohydro has halted works on the Kafue Gorge hydroelectric dam, citing difficulties beyond its control. The hydroelectric site has been operational since 2015, employing than 5,000 people both directly [...]Moody's downgrades Ethiopia Govt's outlook to negative
Moody's Investors Service has affirmed Ethiopia's B1 long term issuer and unsecured ratings changing the outlook from stable to negative. The decision to change the outlook was based on the [...]SWVL Targets Addis Ababa, Lagos and Johannesburg In Africa Expansion Plan
SWVL plans to focus its expansion to other cities in Africa, including Lagos and Johannesburg. The bus hailing company will use Nairobi as a launchpad to extend to other cities [...]
