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Mastercard partners SomBank of Somalia to roll out inclusive debit cards

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Somalia’s SomBank has teamed up with global technology payments company, Mastercard to roll out its unique debit cards in the country.

At the launch of the cards on Tuesday, Country Manager for East Africa for Mastercard, Shehryar Ali said the company was seeking to “promote the adoption of digital payments in the country.”

“The partnership will allow SomBank to issue and accept Mastercard payments, providing customers with a safe and secure, payment solution for various transactions, including purchases, withdrawals, and online payments,” he said.

“The card will initially be distributed to 100,000 SomBank customers in 2023, with plans to expand the program in the coming years.”

He added that the Mastercard-branded SomBank Card, will offer a convenient payment solution for everyday transactions across Somalia, offering access to a wide network of merchants and ATMs that accept Mastercard payments and through the bank’s extensive network of branches and agents.

“As a global technology company with a deep commitment to financial inclusion, Mastercard is proud to partner with SomBank to bring digital payments to Somalia,” Ali said.

“This also supports our commitment to work with financial institutions to bring more people into the digital economy.

“By providing access to secure and convenient payment solutions, we believe that this partnership will help drive economic growth and improve the lives of millions of Somalis,” he added.

Abdullahi Aden, CEO of SomBank, said the partnership with Mastercard would enable the bank to offer customers a seamless way to conduct transactions, whether they are purchasing goods and services, paying bills, or sending money to friends and family.

“By providing access to digital payment solutions, Mastercard and SomBank are enabling more people to participate in the economy and access essential financial services, such as savings, loans, and insurance,” he concluded.

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Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments 

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Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

 

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

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DR Congo sues tech giant Apple over illegal mineral exploitation

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The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

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