Tech

MANSA partners Bitmama to enhance cross-border payments through virtual crypto cards across Africa

Published

2 weeks ago

September 5, 2024

Africa’s decentralised finance (DeFi) platform specialising in cross-border payments and trade financing, MANSA has sealed a partnership deal with blockchain payment platform, Bitmama, aimed at improving cross-border payment accessibility across Africa.

Mouloukou Sanoh, CEO and Co-Founder of MANSA who announced the partnership at a press conference, noted that payment companies across Africa are faced with significant challenges in establishing cross-border payment services, where maintaining pre-funded accounts in multiple countries often poses an obstacle due to limited capital, stifling innovation and creating a liquidity gap, hence the need for such collaboration.

“Our collaboration with Bitmama marks a key milestone for MANSA,” said Sanoh.

“By providing the liquidity needed to pre-fund accounts, we’re enabling individuals and businesses to benefit from enhanced cross-border payment services. This partnership aligns with MANSA’s mission to close the liquidity gap that hampers entrepreneurs and businesses across Africa and other emerging markets.

“Bitmama, which enables individuals and businesses in over 18 countries to send and receive payments in various currencies, has built a platform to facilitate cross-border settlements but requires liquidity in each serviced country.”

He added that through the partnership, MANSA will provide Bitmama with the necessary liquidity to pre-fund accounts across these 18 countries, thereby expanding payment capabilities for consumers and supporting business trade across borders in Africa.

MANSA which was launched in 2023, was created to address the significant funding gap in emerging markets, offering innovative liquidity solutions that support growth and foster financial inclusion in these regions, and has expanded rapidly, serving key markets across Africa and working closely with some of the biggest liquidity providers in the DeFi ecosystem.

Bitmama, on the other had, was founded in 2017 as a P2P digital currency exchange and has since grown into one of Africa’s leading and most secure payment platforms, enabling individuals to transact with virtual cards as well as trade and manage cryptocurrencies and digital assets safely and conveniently.

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Tech

Zambian neobank fintech Lupiya set to launch new debit card

Published

6 hours ago

September 18, 2024

Isaac Dachen

Zambian neobank fintech, Lupiya, has entered into a partnership with leading enabler of digital commerce across Africa and the Middle East, Network International, to launch a new debit card.

The fintech which is active in Zambia and Tanzania and has plans to expand into other African countries is an AI-driven neobank driving financial inclusion through its online lending and digital payments platform.

Muchu Kaingu, CEO of Lupiya Pay, who made the announcement in a statement, said the new debit card was e-commerce enabled, together with 3D Secure and tokenisation.

“This will help diversify Lupiya’s value proposition to include not only simplified lending, but also digital payments to its existing and growing new customer base,” he said.

“At Lupiya, we are driven by the mission to revolutionise financial inclusion across Africa. Our partnership with Network International represents a significant leap forward in providing secure, accessible, and innovative digital financial solutions.

“By launching an e-commerce enabled debit card with 3D Secure and tokenisation, we are empowering individuals and businesses to participate in the digital economy more effectively.

“This collaboration is a testament to our commitment to delivering cutting-edge technology that enhances convenience and security for our customers, while driving economic growth and financial independence across the continent,” Kaingu stated.

He added that the platform leverages alternative data and machine learning models to assess creditworthiness, enabling individuals and businesses traditionally excluded by banks to access both credit and secure payment services.

‘Lupiya offers a range of financial products, including personal loans, SME financing, and digital payments, and is now launching a debit card in partnership with Network, a digital payments company that serves governments, banks, public sector companies, fintechs, and merchants of all sizes. The company serves over 250 financial institutions and 130,000 merchants in more than 50 countries,” said Kaingu.

Tech

Five African female entrepreneurs make Visa’s She’s Next Programme final list

Published

1 day ago

September 17, 2024

Isaac Dachen

Five female African entrepreneurs have been pencilled down as finalists for the 2024 edition of the “Visa’s She’s Next Programme”, an initiative dedicated to empowering women entrepreneurs across the continent.

Lineshree Moodley, Country Manager at Visa South Africa, said the She’s Next Programme, which is in partnership with Absa, is aimed at providing women-owned small and medium-sized enterprises (SMEs) with the resources, tools, and mentorship needed to thrive in today’s dynamic business environment.

“The programme aims to support women-owned small businesses through funding, training, and mentorship,” Moodley said in a statement.

She stated that the five finalists who will compete for the grand prize of over $56,000 worth of prize money are InoBiodiesel, Moli & Mela, Diamond Days, eFama App, and HVAC Partners.

“We are delighted to announce the finalists for this year’s She’s Next Programme. These remarkable women exemplify the spirit of entrepreneurship and innovation that is vital for Africa’s economic future.

“At Visa, we are committed to supporting women-owned businesses by providing them with the tools and opportunities they need to succeed. Our partnership with Absa has been instrumental in expanding the reach and impact of this programme, and we are excited to see the incredible journeys of our finalists unfold. The winner of the 2024 She’s Next programme will be announced on September 19.

“In addition to the top five, another 25 SMEs will participate in an exclusively tailored capacity building and mentorship programme in partnership with Absa to further support and empower women entrepreneurs to take their businesses to the next level,” she added.