Tech

American Express signs agreement with Ecobank Group to expand card acceptance in 21 Africa countries

Published

5 months ago

May 31, 2024

American Express has signed an agreement with Ecobank Group aimed at expanding its card acceptance in 21 sub-Saharan Africa countries.

The CEO of Ecobank Group, Jeremy Awori, who made the announcement in a statement at the African Development Bank Group Annual Meetings 2024, said, with the deal which was penned by American Express and pan-African financial services arm of the bank, American Express Card Members would be able to use their cards in 12 new countries which include Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger, São Tomé and Príncipe, Sierra Leone, The Gambia, and Togo.

“We are delighted to welcome American Express to our network, reinforcing our commitment to offering innovative payments solutions for customers across Africa,” said Awori.

“This agreement will benefit American Express Card Members, providing them with greater choice and will help merchants to grow their businesses. It also highlights the scalability of Ecobank’s unrivalled borderless banking ecosystem and network across Africa.”

He added that the number of merchants accepting American Express Card payments will increase in nine further countries where American Express acceptance already exists which are Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania, and Uganda.

“Acceptance in these countries will be rolled out over the next 12 months. Ecobank will also provide ATM acceptance for American Express in all countries where they operate in Africa (with the exception of Cape Verde).

“The agreement will also enable merchants to attract business from a new customer base of American Express consumer, business and corporate Card Members in Africa and around the world,” Awori added.

In his submission, Mohammed Badi, President of Global Network Services at American Express, said:

“This agreement with Ecobank is a major milestone for American Express acceptance across Africa as it will expand our presence in sub-Saharan Africa to 42 countries from 30 at present.

“With Ecobank’s support, we look forward to providing merchants in these countries access to higher-spending American Express Card Members both in Africa and from around the world.”

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Tech

South Sudanese telcos increase tariffs as exchange rates soar

Published

3 days ago

October 23, 2024

Isaac Dachen

Telecommunication companies in South Sudan have been forced to increase their tariffs as a result of a hike in the official exchange rate.

Local media reports that the likes of MTN South Sudan, Zain South Sudan, and Digitel Holdings have jointly announced a tariff adjustment in response to an increase the official exchange rate following an agreement between the National Communications Authority (NCA) and the Bank of South Sudan (BOSS) to align telecommunications service prices with the official exchange rate.

The adjustment will occur in three phases from October to December 2024 with the first change taking effect on the night of October 18, followed by subsequent changes on November 18 and December 18, 2024.

In a joint communique, the telcos confirmed that notifications about the initial adjustment were distributed via various channels and the decision was made after considering the potential impact on customers and the telecom sector.

“Since the first phase began, operators have increased the cost of internet and mobile airtime subscriptions by 600 South Sudanese pounds,” a media platform reported.

“Thus, subscribers now pay SSP1,565 for 100 MB with Zain, SSP1,790 with MTN, and SSP1,835 with Digitel, rather than the previous SSP900.

Meanwhile, another report has also indicated that the parliament will address rising telecommunications tariffs once the committee investigating alleged malpractices within telecommunications companies has submitted its findings.

According to one lawmaker, these practices have significantly raised the cost of communication services in the country, affecting the general public.

Tech

Rwanda’s e-mobiility startup IZI expands electric bus fleet after getting grant from Green Fund

Published

5 days ago

October 21, 2024

Isaac Dachen

Rwanda’s e-mobility startup, IZI, has announced the delivery of five electric buses to Kigali, the country’s capital city, after obtaining a substantial grant from the Rwandan Green Fund.

IZI, a frontrunner in electric vehicle solutions which says it is on a mission to electrify Rwanda’s public transport sector, has, in just four months of operation, grown its initial fleet of five electric buses to an enviable height.

CEO of the startup, Alex Wilson, believes the grant is a testament to the success story of IZI.

“These results validate our E-Mobility-as-a-Service model. We’re not just reducing emissions; we’re proving that sustainable public transport is economically viable in Africa.

“Building on this success, IZI has secured an RWF 300,000,000 grant from the Rwanda Green Fund to deploy five additional electric buses in Kigali.

“These vehicles will represent the most advanced public transport in Rwanda to date, boasting features such as an independent intelligent driver’s cabin, air suspension balanced driver’s seat, full LCD dashboard, one-step entry, and a flat-floor design for improved passenger comfort,” he said.

He added that the success of IZI’s pilot has led to strong demand from other Rwandan public bus operators.

“IZI has now signed contracts with 4 leading transport companies for the deployment of over 100 buses, marking a significant expansion of its operations.

“Looking ahead, IZI plans to establish a state-of-the-art battery maintenance and repair facility in Kigali, supporting the entire EV ecosystem in Rwanda and positioning the country as a centre of innovation in the EV industry,” he added.