Connect with us

Tech

Mastercard partners MTN Fintech to drive mobile money acceleration in Africa

Published

on

International payments network processor, Mastercard, has entered into a partnership with MTN Group Fintech aimed at driving mobile money acceleration in sub-saharan Africa.

Amnah Ajmal, Mastetcard’s Executive Vice President, Market Development EEMEA, who announced the partnership in a statement on Friday, said the two fintech giants signed a multi-market agreement that would “set in motion a new era of collaboration to connect millions of people and small businesses across Africa with digital tools to transact through secure mobile payments, expanding access to the benefits of the cashless digital economy.”

“Our innovation strategy is based on collaboration. We are very proud of our partnership with MTN that will enable digital commerce for millions of people in Africa,” Ajmal said.

“In addition, mobile money solutions can be greatly beneficial for SMEs, enabling growth through seamless commercial operations, wider payments acceptance, access to affordable credit, and secure digital tools.”

He stated that the partnership will use Mastercard’s cutting edge technology and capabilities to support MTN’s ambition to become Africa’s largest fintech platform for both merchants and consumers.

“This follows Mastercard and MTN’s recent agreement for a minority investment into MTN Group Fintech – the digital financial services arm of Africa’s largest mobile network operator – that concluded this month.

“With MTN’s overall subscriber base at 290 million and 60 million active monthly MoMo (Mobile Money) wallets, the agreement will impact 13 markets in Africa including Benin, Cameroon, Cote d’Ivoire, Eswatini, Ghana, Liberia, Nigeria, Republic of Congo, Republic of Guinea, Rwanda, South Africa, Uganda, and Zambia,” Ajmal added.

Also speaking on the agreement, Serigne Dioum, Group CEO, MTN Fintech, said:

“When there is a mutual vision – in this case to bring access, progress, financial inclusion, and prosperity to people – the road to partnership is a simple one.

“We look forward to working with Mastercard as a partner that is also committed to the enablement of more people and businesses through the collaboration into best-in-class apps, superior user experiences, safe transactions, secure remittances, new use cases, and expanded acceptance.”

Tech

MTN, Vodacom remain South Africa’s most valuable brands— Report

Published

on

A report released on Tuesday by global brand valuation consultancy, Brand Finance, has rated telecom giants, MTN and Vodacom, as the most valuable brands in South Africa.

According to the report, MTN is still the standout company, maintaining its position as the most valuable South African brand, despite experiencing an 8% decrease in brand value to ZAR68.2 billion.

Part of the report noted that the telecommunications company has significantly “expanded outside of its home market and has a stronghold in Nigeria, which is now MTN’s largest market in terms of both user base and revenue.”

“On the other hand, Vodacom’s brand value increased 10% to ZAR43.9 billion in 2024,” it said.

“This secures its second place in the ranking, while also narrowing the gap with leading competitor MTN.”

The Brand Finance research indicates that the influence of majority shareholder Vodafone has bolstered Vodacom’s brand and market standing.

Although Vodacom operates autonomously and is listed on the Johannesburg Stock Exchange, Brand Finance data reveals that Vodacom’s association with Vodafone enhances brand equity, cultivating recognition and trust.

“Amid the myriad of challenges that South African businesses are facing, our research highlights that now, more than ever, brand consistency is crucial in driving growth,” the report endorsed by Jeremy Sampson, Chairman, Brand Finance Africa, stated.

“For the past fifteen years, MTN and Vodacom have consistently maintained their positions as the top two most valuable brands and six of the top ten brands have stayed in the top ten.

“Leading brands like MTN, Vodacom, Standard Bank, and Absa have also nearly doubled their brand values since 2016.

“Time and time again, our findings underscore the critical need to prioritise brand investment as a strategic imperative, safeguarding companies’ brand as a valuable asset for the future,” it added.

Continue Reading

Tech

Nigerian healthtech startup Remedial Health launches app with digital POS, barcode scanner

Published

on

Nigerian healthcare startup, Remedial Health, has announced the launching of a new app with digital point of sales (POS) and barcode for neighbourhood pharmacies and Proprietary Patent Medicine Vendors (PPMVs) across Africa.

Co-founder and CEO of Remedial Health, Samuel Okwuada, who disclosed this in a statement, said the new “app comes with a digital POS terminal to support payment collection, virtual business accounts to receive payments.”

“It also has an in-built barcode scanner feature for recording product sales and store-switch functionality to enable the seamless management of multiple stores, as well as inventory management solutions for restocking and easily identifying short-dated products.”

Okwuada added that the app also offers comprehensive financial reporting to manage profit and loss, and data analytics to inform decision making.

“Neighbourhood pharmacies and PPMVs represent the frontline of healthcare delivery in Africa but they have historically been left to their own devices to figure out how to be efficient and profitable,” he said.

“Our mission is to empower these essential service providers with the tools they need to manage day-to-day operations and seamlessly run their practices effectively.

“We spent a lot of time interacting with our customers in the process of delivering this product and the feedback has been great.

“We are excited by the opportunity to get the app into the hands of pharmacies and PPMVs across the country to support their ongoing success, as well as the health and wellbeing of the nation.

“Our customers can also access same-day delivery and leverage inventory financing to minimise cash-flow friction for routine orders and maximise sales opportunities.”

Continue Reading

EDITOR’S PICK

Uncategorized3 hours ago

South African used-car startup WeBuyCars now listed on the Jo’burg Stock Exchange

South African used-car startup, WeBuyCars, is now officially listed on the Main Board of the Johannesburg Stock Exchange (JSE) under...

Uncategorized4 hours ago

Ghana’s VP Bawumia throws weight behind anti-LGBTQ campaign

Ghana’s Vice President, Dr. Mahamudu Bawumia, has thrown his weight behind those against the LGBTQ community in the country. Bawumia,...

Uncategorized4 hours ago

Kenyan marathoner Kipchoge upbeat about winning third Olympic gold

Kenya’s double Olympic gold medallist, Eliud Kipchoge, is in a confident mood that he can win a historic third successive...

Uncategorized5 hours ago

Hichilema sacks Zambia Public Procurement Authority boss with immediate effect

Few weeks after sacking the Accountant-General, Kennedy Muso, and Controller of Internal Audit at the Ministry of Finance and National...

Uncategorized12 hours ago

Nigeria: 812 killed, 855 abducted by criminal elements in March alone— Report

A security and intelligence consulting firm in Nigeria, Beacon Security and Intelligence Limited, has released a damning report in which...

Musings From Abroad1 day ago

Russia begins diesel exports to Sudan as EU boycott bites

London Stock Exchange Group (LSEG) data shows that Russia has started sending fuel to troubled North African country, Sudan. The...

Uncategorized1 day ago

Ghanaian fintech Zeepay raises equity funds to support African, Caribbean expansion

Ghanaian fintech, Zeepay, has announced securing a round of equity investment aimed at supporting its expansion plans in Africa and...

VenturesNow1 day ago

Ethiopia might devalue currency to secure IMF loan

Ethiopia may need to decide on a big currency devaluation soon to get a rescue loan from the International Monetary...

Musings From Abroad1 day ago

US wants more funding in response to Sudan conflict

The United States Special Envoy to Sudan says that Washington will push for more than $100 million in extra funding...

Uncategorized1 day ago

South African Police arrest six in connection with killing of footballer Luke Fleurs

The South African Police have announced the arrest of six in connection with the killing of Kaizer Chiefs defender, Luke...

Trending