Tech

Senegal’s fintech Kori Tech develops e-wallet to ease transactions across Africa

Published

8 months ago

April 2, 2024

Senegalese fintech, Kori Tech, has developed an e-wallet known as “KoriPass” with features linked to physical payment accessories like bracelets, stickers, or keychains, to help ease the process of making transactions across Africa.

Co-founder and CEO of the fintech, Nazib Ba, who unveiled the new offering on Tuesday, said Kori Tech “aims to solve a significant gap in the market concerning the inefficiencies and challenges associated with cash transactions, particularly in sectors like small retail and transportation.”

According to Ba, “KoriPass will allow users to make micro-payments at their favourite merchants, quickly and without contact, thanks to physical devices, such as bracelets, stickers, or keychains, equipped with NFC and QR code technology.”

“While there are existing payment solutions, KoriPass stands out with its unique approach leveraging NFC technology for faster transactions, change management, and reduced waiting times,” Ba said.

“KoriPass is an electronic wallet associated with physical payment devices. Users without smartphones can visit a KoriPass merchant, open an account, link their preferred accessory, and fund it with cash, or else fund their wallet via the app.

“Merchants, on the other hand, do not require multiple accounts as one KoriPass merchant account allows acceptance of all mobile money providers in Senegal.”

Ba added that the early uptake of KoriPass has been promising so far with steady growth in merchant adoption and user engagement.

“The platform has seen a growing number of merchants integrating KoriPass into their businesses, attracted by its simplicity, speed, and efficiency in handling transactions,” he stated.

“KoriPass is currently operating in Senegal. The company has ambitious expansion plans to enter new markets, with a focus on francophone countries in West Africa like Ivory Coast, Benin, and Togo.”

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

3 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.