Fintech continues to alter the way many services operate in the process tilting scales in favour of consumers. According to forecasts, Africa’s fintech space will be in the value of approx. USD 3 Bn by 2020. In Botswana, government-owned Botswana Innovation Hub has launched a USD 1.2 M innovation fund targeting fields such as information technology and business services. Africa has unceasingly faced technological and economic problems that Brastorne has been proactive in helping solve. Internet penetration of the African population is only 35.2%, which is significantly lower when compared to the rest of the world’s penetration of 58.4%. […]
Africa’s fragmented markets and lack of legacy foreign exchange trading infrastructure means that the continent has become a melting pot of fintech activity and innovation. The emergence of fintech in Ghana has sparked a tremendous increase in domestic and cross-border payments. The mobile money industry within Ghana has witnessed stiff competition between Telcos, such as MTN Ghana and licensed service providers in the digital sector. One of the most prominent service providers is Zeepay, which facilitates mobile money payments, domestic transfers and international remittances. Despite the upsurge in the number of banks in Ghana, approx. 70% of the population […]
The European Microfinance Award 2018 on “Financial Inclusion through Technology” has selected Advans Côte d’Ivoire, ESAF Small Finance Bank and KMF as the three finalists for this award. This award recognises how technology assists financial services providers in reaching unbanked and under-banked segments and essentially financially including those segments which did not have access to formal financial services. The benefits of financial technology include lower costs, provides a platform to exchange information and communication, faster and more reliable financial services and various other methods in which to innovatively provide financial services efficiently and effectively. These three finalists have been […]
