Connect with us

Tech

Mastercard partners Diamond Trust Bank to boost digital payments in East Africa

Published

on

Mastercard has struck a strategic partnership with Diamond Trust Bank (DTB) to boost digital payments in East Africa with specific focus on Kenya, Uganda, and Tanzania.

The a 10-year agreement will offer tailored digital payment solutions across the region with the two organizations hoping to transform the digital and banking landscape and experiences for businesses and individuals across the region.

Mark Elliott, the Division President, Africa, Mastercard, who made the announcement, said the partnership will focus on delivering innovative, secure, and convenient payment solutions, including bespoke card products and advanced transfer services for peer-to-peer (P2P), business-to-business (B2B), and person-to-business (P2B) transactions.

Introduced by Mastercard and DTB in partnership with Tappy Technologies, the card is Kenya’s first tokenization-based payment wearables which allows consumers to make secure, contactless payments simply by tapping the wearable device at any enabled point-of-sale terminal. This technology replaces sensitive payment data with encrypted tokens, ensuring that cardholder information remains protected during transactions, Elliott said.

“We are thrilled to collaborate with Diamond Trust Bank and Tappy Technologies to launch these game-changing innovations. By combining our expertise in digital payment solutions with DTB’s strong market presence, we are enhancing the banking experience and providing customers with more secure and convenient ways to pay.

“This collaboration highlights our deep commitment to driving digital transformation and financial inclusion across East Africa,” he added.

On his part, the Group CEO of DTB, Nasim Devji, said:

“This collaboration with Mastercard will help accelerate our digital transformation journey and significantly enhance our ability to deliver innovative financial solutions to our retail, SME, corporate, and fintech clients.”y

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

on

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.

Continue Reading

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

on

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.

Continue Reading

EDITOR’S PICK

Musings From Abroad4 hours ago

Finnish court imprisons Nigeria’s Simon Ekpa for aiding terrorism

  Simon Ekpa, a Nigerian separatist leader based abroad, has been placed under detention by the Päijät Häme District Court...

Metro6 hours ago

Nigerian Senate confirms influx of terrorists from Mali, Burkina Faso into the country 

The Nigerian Senate has raised the alarm over the influx of terrorists from Mali and Burkina Faso who operate in...

Tech23 hours ago

Tanzania to host 6th Ocean Innovation Africa summit in February

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from...

Culture23 hours ago

Miss SA opens up on why she withdrew from Miss Universe pageant

Reigning Miss South Africa 2024, Mia le Roux, has opened up on the reasons behind her withdrawal from the Miss...

Sports23 hours ago

SA football legend Lucas ‘Masterpieces’ Moripe passes away

South African football legend, Lucas “Masterpieces” Moripe, has passed away at the age of 71 after a long battle with...

Metro24 hours ago

Wanted Zambian MP who escaped from prison custody captured in Harare

A fugitive Zambian Member of Parliament (MP), Emmanuel Banda, who escaped from custody at the Chipata Prison in Eastern Province...

Musings From Abroad1 day ago

Malian singer Rokia Traore arrested in Italy, to be sent to Belgium

After Italy’s top court denied her appeal, well-known Malian singer, Rokia Traore, who was detained in Rome in June due...

Politics1 day ago

Ugandan opposition politician abducted, wife says

  According to his wife on Wednesday, a well-known opposition leader from Uganda, Kizza Besigye was abducted during a book...

VenturesNow1 day ago

Kenya seeks $750m from World Bank, obtains $200m from AfDB— Official

The head of debt management for the finance ministry told Reuters that Kenya had obtained a $200 million loan from...

Video1 day ago

Video: ‘Neglect of Africa is a danger to the world’— Nigeria’s Tinubu at G20

Nigerian President, Bola Tinubu, endorsed the call for a global alliance against hunger in his address at the opening of...

Trending