Connect with us

Tech

South African fintech startup, Mama Money, partners Zimbabwean bank for seamless money transfers

Published

on

A South African fintech startup, Mama Money, has reached a wide ranging partnership with Zimbabwea’s major bank, AFC Commercial Bank, to allow its customers to easily send money to any of the bank’s branch for cash collection at 45 locations across the southern African country.

The fintech which offers cross-border money transfer and banking services, is estimated to have a monthly remittance flow from South Africa to Zimbabwe between $30 to $60 million through both formal and informal channels and accounts for over 10% of the country’s GDP according to the World Bank.

According to Nicolas Vonthron, CEO, Mama Money, with the platform, the cost of sending money to Zimbabwe can significantly reduce the impact that remittances have as these funds are predominantly used for critical needs such as school fees, healthcare, and housing.

“Mama Money has played a leading role in reducing the cost of money transfers from South Africa when the company started the business to make a positive impact on the lives of underserved migrant communities in South Africa.

Mama Money facilitates money transfers to over 50 countries across Africa, Asia and Europe.

“Our key markets for money transfers include Zimbabwe, Malawi, Mozambique, Ghana, Uganda, Nigeria, India, Bangladesh, and Pakistan.

“Together, Mama Money and AFC Commercial Bank are improving access to critical financial services in underserved communities in both South Africa and Zimbabwe by making it easier, faster, and more affordable to send and receive money,” he added.

Tech

South African commerce startup, Clickatell, launches platform for WhatsApp mobile payments

Published

on

Foremost South African commerce and mobile messaging startup, Clickatell, has launched a Whatsapp Chat 2 Pay feature in conjunction with South Africa’s first low-cost airline, FlySafair.

During the launch of the platform on Saturday, Clickatell’s Chief Product and Technology Officer, Jeppe Dorff, said the feature will make FlySafair the first airline in the world to deploy Chat 2 Pay with a pay-by-link capability that allows its customers the convenience of effortless mobile payments via FlySafair’s WhatsApp channel.

“No one has time to stand in queues anymore, and almost every adult on the planet has a mobile phone,” Dorff said.

“There is a major opportunity for airlines across the globe to enhance their customers’ travel experience by making it possible to browse, book and pay for, as well as manage their travel bookings on their mobile phones.

“We are thrilled to work with FlySafair to transform its customers’ experience by making it possible to make payments using their mobile phones,” he added.

Kirby Gordon, Chief Marketing Officer at FlySafair, said the airline is delighted to have pioneered with Clickatell for the first of its kind innovation.

“We are always looking for ways to improve our customer experience and are therefore very excited that our customers can now pay for their luggage with a payment link shared to their mobile phones via WhatsApp.

“There is no need any more for our customers to go stand in a queue at the airport to pay for luggage.

“By adding Chat 2 Pay, FlySafair helps its customers to save time and safely make payments further by clicking on the Chat 2 Pay link delivered in a message in WhatsApp without requiring them to expose their personal payment information,” she explained.

Continue Reading

Tech

Ghana’s agrotech startup, FLUID, launches platform to help small scale farmers access to credit

Published

on

Ghana’s agrotech startup, FLUID, has successfully launched a new platform that will help small scale farmers access to loans, according to founder and CEO, Moustapha Seck.

Founded in January, 2020, to give fillip to local farmers who had no access to loan and credit facilities, Seck said the company has already signed a 12-month contract with a local bank to provide financing to 25,000 farmers in Northern Ghana.

“We penetrated the Ghanaian financial industry through research first. In October 2020, we partnered with 29 financial institutions to study the challenges in the rural banking space,” Seck said while announcing the launch of the platform.

“Through this engagement, we developed FLUID SafeSusu, a mobile application to create bank accounts and track savings deposits in rural areas without connectivity,” Seck, who left his job at the Canadian investment fund, Clearco, to pursue his goal of helping the poorest Africans access financial services, said.

He added that the FLUID SafeSusu platform has piloted with four banks and connected 26,000 bank accounts to its platform, with an investment fund base of $200,000 in savings deposits.

“Our research led us to discover that half of Ghanaians work in agriculture, but only 4.6 per cent of loans go to farming. This disparity leaves close to 12.5 million smallholders farmers in Ghana financially excluded.”

“While banks use many different technology providers to be closer to the field, only FLUID and AgroCenta, to our knowledge, focus on the huge market of smallholder financing. FLUID stands alone in its focus on mitigating risks for the bank and the farmer,” he added.

Continue Reading

EDITOR’S PICK

Culture3 hours ago

Morocco adds national dress, Caftan, to UNESCO’s list of Intangible Heritage

The Moroccan Department of Culture says it is committed to preserving its cultural and artistic heritage of one of its...

Metro3 hours ago

Islamist jihadists kill nine in attack on Niger refugee camp

Nine people have been confirmed killed by Islamist jihadists who attacked a refugee camp in western Niger Republic on Saturday...

Metro3 hours ago

Three killed in attacks on ancient Ethiopian Orthodox Church

An attack on an Ancient Ethiopian Orthodox Church on Saturday has claimed the lives of three people, while an unspecified...

Politics3 hours ago

Regional bloc leaders, wants ceasefire amidst diplomatic tension between Congo DR, Rwanda

There is a regional call by Eastern heads of state for an immediate ceasefire by all parties in the east...

Tech4 hours ago

South African commerce startup, Clickatell, launches platform for WhatsApp mobile payments

Foremost South African commerce and mobile messaging startup, Clickatell, has launched a Whatsapp Chat 2 Pay feature in conjunction with...

Sports5 hours ago

CHAN 2023: Senegal beat host Algeria on penalty shootout to become African homebased champions

The Teranga Lions of Senegal pulled up a big surprise by dashing the hopes of Algeria winning the TotalEnergies African...

Musings From Abroad1 day ago

Russia’s African influence grows as envoy claims 1,890 ‘instructors’ in Central African Republic

The Russian ambassador to the Central African Republic, Alexander Bikantov has revealed that the country’s military presence in the insurgency-plagued...

Culture1 day ago

Nigerian first class traditional ruler, Ooni of Ife, makes Hollywood debut

Nigerian first class traditional ruler, the Ooni of Ife, Oba Adeyeye Ogunwusi, has made an incursion into the movie world...

Metro1 day ago

66-yr-old South African man sentenced to 18 years for forcefully marrying, raping 13-yr-old girl

A 66-year-old South African man, Bheki Nxasana, has been sentenced to 18 years in prison by a Gqeberha High Court...

Metro1 day ago

Former Kenyan policeman, three others sentenced to death for murder of human rights lawyer

A former Kenyan police officer, Frederick Leliman, alongside three accomplices, were on Friday, sentenced to death by a Nairobi High...

Trending