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We are living in unprecedented times. COVID-19 has swept throughout the world, and governments globally have taken drastic measures to stop the spread in an attempt to save lives. In February 2020, as African countries watched Asia and Europe begin the implementation of lockdown, a study by Survey54, an automated mobile-led data collection platform, found […]
The emergence of COVID-19 has made the need for digitising payments more critical than ever before and for this to be a success, electronic payments need to offer similar benefits to those afforded by cash. Globally, economies are in various stages of development having either started developing, replaced or are busy replacing daily batch payment […]
Mobile fintech solutions company, Entersekt announced that it has successfully integrated with Huawei Mobile Services (HMS). HMS is Huawei’s alternative to Google Mobile Services, a collection of applications and application programming interfaces that are typically pre-installed on Android phones and tablets. Entersekt fast-tracked work on its mobile software development kit (SDK) to facilitate push messaging […]
The advantages of digital transacting over other modes of banking have been highlighted by the lockdown. Although banking remotely has been gaining ground in South Africa long before the lockdown, the limitations on physical movement imposed by the lockdown have given online and mobile banking a significant boost. The current environment will most likely see […]
According to a new report by Luno and Arcane Research, the economic landscape across the continent augurs well for cryptocurrency adoption in Africa. The economic landscape across the continent augurs well for #cryptocurrency adoption in Africa.Click To Tweet The State of Crypto: Africa report says that rapid adoption of cryptocurrencies is likely in Africa in the […]
Traditional models of business funding need a re-think if South Africa’s small businesses and entrepreneurs are to emerge from the financially crippling “winter of coronavirus” into a spring of growth and rejuvenation. Accepting that downturns, recessions and economic crises are inevitable, one needs to shift the focus into building “Zebra” companies – sustainable businesses with […]
The coronavirus pandemic could cost the global economy between $5.8-trillion and $8.8-trillion, according to the Asian Development Bank (ADB). The BBC reports that this is more than double last month’s prediction and equates to 6.4%-9.7% of the world’s economic output. This comes as measures to slow the spread of COVID-19 continue to paralyse economic activity […]
As digitization makes its way into Africa across sectors and industries, digital payment methods are being offered as safe and convenient alternatives to traditional options. Borderless Access conducted a study across South Africa, Ghana, Kenya, and Nigeria to explore the uptake of digital payment methods, including e-wallets, money payment apps, and mobile money transfer. It […]
You might be thinking, “What on earth is arbitrage trading?” or “I’ve heard of this before and always wondered what it is”. Whichever one you thought of, we’re going to make the understanding of what it is and how to take advantage of it as simple as possible. OVEX – one of South Africa’s top […]
Telegram is officially calling it quits on its crypto-focused subsidiary, Telegram Open Network (TON). “Telegram’s active involvement with TON is over,” writes Pavel Durov, founder and CEO, in an announcement on his channel. #Telegram is officially calling it quits on its crypto-focused subsidiary, Telegram Open Network (TON).Click To Tweet “For the last 2,5 years, some […]
Global information and insights company TransUnion says Kenya’s financial services providers and consumer credit market will have to drive a robust, proactive response to the COVID-19 crisis if they are to manage the risks to the industry, with the pandemic expected to have a major impact on the country’s economy and the consumer landscape. Past […]
Bitcoin’s historic halving event on Monday underscores that the “long-term future of cryptocurrencies is secure”, says the CEO and founder of one of the world’s largest independent financial advisory organisations. The comments from deVere Group’s Nigel Green come as the world’s supply of Bitcoin was forever slashed. The highly anticipated halving event, occurring only every […]
The Bitcoin halving is a planned reduction in rewards miners receive. Halvings happen once every four years or so. And the next one will take place in the early hours of Tuesday, 12 May 2020. What exactly is a halving and why does it happen? Bitcoin is generated by miners. They have computers performing complex […]
At the beginning of March, few anticipated the significant impact the COVID-19 pandemic would have on the lives of all South Africans. As the gradual easing of the strict lockdown conditions continues, thoughts turn to how companies will begin their recovery. Ian McAlister, GM of CRS Technologies, looks at what to expect. From Friday 1 […]
Mukuru, one of the largest international money operators and remittance companies in Africa, has confirmed that it has acquired Zoona Malawi’s operational assets along with the technology systems that support its Malawian operations. Zoona, which has worked with Mukuru for four years as a trusted partner, is an Africa-based fintech that enables entrepreneurs to bring […]
The cryptocurrency sector continues to show strong growth despite a severe economic contraction since the global COVID-19 pandemic. In fact, Bitcoin is up 28% and is now trading at $8993. This could be attributed to the move towards a cashless environment, seeing as though the virus is can be transferred across surfaces, which augurs well […]
While blockchain is best known for enabling cryptocurrency payment and trade, this technology has a much wider range of potential uses that could disrupt various industries, including the audit profession. In light of this, auditors should embrace all possible blockchain applications to ensure they remain relevant in the years to come. This is according to […]
Cryptocurrency exchange, Luno has announced that – as of 11 May – users will be able to buy, sell and trade Litecoin (LTC) on the platform – this is following the recent introduction of XRP. LTC, often referred to as the silver to Bitcoin’s gold, is a top ten cryptocurrency with a market cap of […]
Cryptocurrencies surged on Thursday, with Bitcoin surpassing $7,500 for the first time since crashing in late February/early March. The world’s largest cryptocurrency is currently trading at $7,587.07 as of 10:00 Friday 24 April. Bitcoin rose as much as 10% overnight, while the Bloomberg Galaxy Crypto index – which tracks some of the largest digital assets […]
Tigo Tanzania has partnered with M-Pesa in Kenya, MTN in Rwanda & Uganda and Airtel Rwanda to enable cross-platform capabilities between the respective mobile wallet services – this move should allow customers to send and receive funds from across East Africa. Tigo Tanzania has partnered with M-Pesa in Kenya, MTN in Rwanda & Uganda and […]
It is speculated that traditional banks will fall even further behind in market share and customer experience due to the global coronavirus pandemic, warns Nigel Green, founder and CEO of deVere Group- one of the world’s largest independent financial advisory organizations. The comments from Green follow research that the use of financial apps is up by […]
It is anticipated that there will be millions of recurring grant recipients over the next three to six-month period as South Africa grapples with the economic and social challenges of the nationwide lockdown and beyond. Micro-payment platform Ukheshe, together with its key strategic partners, Mastercard and Nedbank, has announced that the Ukheshe platform will be […]
China’s major technology giants are amongst a group of organizations that have joined a national committee focused on creating standards for blockchain technology, reports CNBC. The move is part of a major push by the world’s second-largest economy, China, to become leaders in the burgeoning space of blockchain technology. This comes after Chinese President Xi […]
Fiorano Software, a leading Enterprise Integration Middleware and API Management specialist, announced that African Export-Import Bank (Afreximbank), Egypt has chosen the Fiorano Hybrid Integration Platform (HIP) to integrate its cloud-based core banking system, Finacle, with application systems to establish a technology platform for future enterprise integrations. S.S. Tarakaram (Tarak), Director of Business Development for EMEA […]
Bitcoin is predicted to reach highs of $15,499 by year’s end – which would be the cryptocurrency’s biggest moment of the year yet – according to a new report from the financial comparison website Finder.com. The figure is the average of 10 fintech leaders’ individual predictions, who speculated what might be in store for the […]
South Africa’s financial regulators have officially launched the Intergovernmental Fintech Working Group (IFWG) Innovation Hub to respond to changes in the financial sector driven by financial technology (fintech) and to promote responsible innovation in the sector. The Innovation Hub is intended to support the sector in introducing innovations that complement the core mandates of regulators, […]
South Africa can expect significant growth in contactless payments on the back of COVID-19. It is also likely that the public’s newfound (and sensible) aversion to contact will spur additional innovation, especially given the uncertainty around second and third waves. There is no doubt that an unintended consequence of the coronavirus will be the fast-tracking […]
The global COVID-19 pandemic has made its presence felt in South African retail and consumer-focused businesses, especially in tourism and hospitality, but the full impact on earnings, cash flow, and employment will last far longer than a three-week lockdown. With the 21-day nationwide lockdown in place, the full effects will now ripple through all sectors […]
The GSMA has unveiled the annual ‘State of the Industry Report on Mobile Money’, offering a view of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation, especially in emerging markets. This year’s report looks at what one billion registered accounts means for the mobile money […]
While significant measures have been put in place to combat the spread of Coronavirus disease (COVID-19), South African banks are turning to cashless transactions. Mobile money transfers, online, debit and credit card transactions are being encouraged as opposed to cash, which is a possible source of transmission. Clayton Hayward, the co-founder of Ukheshe, a microtransaction […]
Ebehijie Momoh is the senior VP and GM for Mastercard West Africa. A role she has held since December 2019. Based in Nigeria, Ebehijie focuses on the advancement of the Mastercard brand presence in West Africa as well as deploying innovative payment solutions and partnering with local governments and market regulators to build, what Mastercard […]
The estimated 120,000 NGOs currently operating in South Africa play a vital role in and around our society. They provide services to millions of people in terms of health, education and poverty alleviation. On 27 February was World NGO day, but for many, it wasn’t much of a celebration – these companies are locked in […]
New information concerning the Nedbank data breach have emerged detailing the lax security at the 3rd party facility where the hack originated, reports My Broadband. Last month, IT News Africa covered the leak and the subsequent new information revealed by Nedbank’s CEO about the hack. The Nedbank Data Breach Computer Facilities, the 3rd party provider […]
It is a legal requirement to pay tax on your Bitcoin earnings, the South African Revenue Service (SARS) outlined in 2018. This requirement, however, is more difficult to enforce than conventional income or capital profit. As the name implies, it is a logistical challenge to monitor transactions and balances for South Africans who trade in […]
Standard Bank South Africa announced on Tuesday, 4 March 2020, that it is moving its core SAP Cloud Platform services to Microsoft Azure to significantly improve the experience customers have with the bank while enabling it to introduce new solutions to market more efficiently. This accelerates the digital transformation of SAP customers to S/4HANA by […]
The Johannesburg Stock Exchange (JSE) is preparing to set in motion a plan to use artificial intelligence (AI) to combat insider trading and other transgressions by listed companies, curving clandestine activities and corporate crookery, reports the Business Times. JSE CEO, Leila Fourie says the stock exchange was “investing heavily in artificial intelligence” for a new […]
The post JSE to Employ AI to Sniff Out Corporate Crime appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
Having been previously believed to be a safe-haven asset, Bitcoin took a big slump this week amid a massive craze of equity-market selling, reports My Broadband. Having fallen as much as 3.4% on Tuesday to trade at around $9320 as of 3:19 pm. Similar cryptocurrencies and peer coins such as Dash, Litecoin and Ether each […]
The post Bitcoin Fails as Coronavirus Fear causes Massive Sell-Off appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
Africa stands on the precipice of emerging technologies and innovation in response to decades of hardship and frustration. Amongst those innovations are those in the AI sphere, with African developers and innovators finding unique and lucrative ways to make the lives of clients and customers easier. Here are 5 ways AI is being used from […]
The post 5 Ways Artificial Intelligence is Being Used in Africa appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
PAYFORT and valU have teamed up to offer online shoppers in Egypt another checkout method. The partnership – which was announced on Monday, 24 February 2020 – will give consumers the option to ‘buy now, pay later‘. According to valU, consumers can access 3-60 months instalment options for online purchases. “We are excited to announce […]
The post Amazon’s PAYFORT and valU Partner to Empower Online Shoppers in Egypt appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
The Kenyan App market is unique as most of the very popular Kenyan apps are diverted to banking and financing, with a lean towards money loaning apps. There is one interesting surprise within the list, which is possibly one of the most unique apps in Kenya. Here are the Top 10 most popular free Kenyan […]
South African financial services provider, ABSA has acknowledged that several customers who use iPhones were restricted access to its banking app. A report from My Broadband suggests that this is because the customers’ data had been erased from ABSA’s systems earlier this week. “We can confirm that a small number of our iOS app users […]
The post ABSA banking app blocks access to IOS customers appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
Global tech giant, Apple believes that it won’t meet its revenue guidance for this quarter because of an overall decrease in the demand for smartphones worldwide and planned cuts in production as a result of the coronavirus. This demonstrates how “the virus outbreak in China is taking a bigger-than-predicted toll on one of the world’s […]
The post Apple faces decrease in revenue due to Coronavirus outbreak appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
Last week we covered the Nedbank client data hack in which 1.7 million Nedbank clients may have had their personal and private data leaked to the public. The leak emanated from a security breach at Computer Services, a third-party service provider that issues SMS and email marketing on behalf of the bank. The breach had […]
The post The Nedbank Data Breach – New Details Via CEO appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
ATMs that support digital coins and cryptocurrency have increased parallel to the trend on the market since the beginning of the year, reports Bitcoin.com. With the promising start this year had with cryptocurrencies – Bitcoin itself has risen from a price of below $7000 since the first days of January to about $10,000 during the […]
The post There are now almost 7000 Bitcoin ATMs Worldwide appeared first on IT News Africa – Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports.
But now, Mastercard CEO, Ajay Banga has pulled out of Facebook’s proposed cryptocurrency, Libra. Detailing the reasons why Mastercard has ditched the ‘stable-coin’ project, Banga blames three main concerns over compliance, monetisation and generally Facebook’s tight-fisted grip over the project. In an interview with the Finacial times, Banga says firstly Libra’s leaders couldn’t commit to [&hellip
South African cryptocurrency exchange, Luno announced on Wednesday, 23 January 2019 that it has introduced faster and automated withdrawals to its South African customers at no additional charge. This means customers are no longer restricted to daily withdrawal schedules. “Luno customers wanting to withdraw their rands on the Luno platform can now count on real-time […]