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Payment company Ozow Secure Payments (Ozow) has become the first local payment processor to offer zero processing fees to emerging businesses, NGOs, and NPOs accepting automated electronic transfers (EFTs) for payments or donations through its gateway. Start-ups, youth-run businesses and SMMEs of all kinds processing under R1 million in online transactions monthly can enjoy zero processing fees for the first 12 months, enabling them to be part of the digital economy by providing a world-class...

The Founder Institute, an idea-stage accelerator and startup launch program has launched a new chapter in Lagos, Nigeria targeting to work with 20 tech startups in the country annually. To celebrate the launch, the Lagos Founder Institute will host a series of free startup events for the general public. During these events, attendees will learn how to build a company and learn more about the program. For aspiring and early-stage entrepreneurs up to the challenge,...

The Financial Inclusion Initiative at Omidyar Network has announced the launch Flourish, a new venture firm focused on backing entrepreneurs whose innovations are helping people across the globe to capture economic opportunity and achieve financial health. The firm launches with a global team of 18 professionals and an existing $200 million portfolio across US and emerging markets, as well as an additional $300 million at its disposal over the next five years. Flourish is an evergreen fund...

South African multinational IT services provider, T-Systems South Africa (TSSA) has been rated a B-BBEE Level 1-Contributor in terms of the revised Broad-Based Black Economic Empowerment (BBBEE) Act Codes of Good Practice by SANAS accredited rating agency – EmpowerLogic. Commenting on the rating, Dineo Molefe, MD of T-Systems South Africa said: “it has been our aim to reach the highest level of rating, not for the rating in itself, but because we believe that transformation...

BigFive Summit is coming to Cape Town from 13–15 May 2019, featuring headline talks and workshops that will challenge thinking, stimulate ideas and offer practical advice for those with the common goal of bringing to market digital solutions for SMEs throughout Africa & The Middle East. BigFive Summit is the ideal networking and knowledge-sharing hub for media and technology companies, digital agencies, influential thought leaders, as well as disruptive startups and entrepreneurs across the Africa/Middle...

Over the last 14 years or thereabout, the bilateral relations between the People’s Republic of China (PRC) and Africa (as a whole) have grown significantly. However, weak commodity prices since 2014 have greatly impacted the value of African exports to China, even while the Chinese exports to Africa remained steady. E-commerce in Africa has struggled for years due to many reasons; the basic Africa problems are poverty, illiteracy, lack of Internet access, and in places...

Helios Towers Plc has announced plans to build 1,000 telecommunication towers in South Africa in the next three years as it tries to capitalize on rapid growth in mobile services and shape up for an initial public offering. The company operates cellphone towers in countries including Ghana, Tanzania and the Democratic Republic of Congo. It entered South Africa last month by striking a local partnership and buying an independent tower operator, giving it a foothold...

Vista Group, a challenger bank building itself into a world class pan-African financial institution specifically designed to meet the needs of retail and commercial customers, has partnered with Temenos, the banking software company, to power its digital transformation journey. Vista Bank is transforming its IT systems using Temenos Infinity, a breakthrough digital front office and Temenos T24 Transact, the next generation in core banking. As part of these products, Vista Bank also has selected the...

ThinkMarkets, a provider of online trading in financial markets headquartered in Australia with offices in the UK and Europe, has been awarded a licence by the Financial Sector Conduct Authority (FSCA) to offer electronic financial trading services to South African investors. The business is optimistic about the South African economic landscape and the prospects for the Rand despite its volatility. The global brokerage firm is betting on the governments’ fiscal and economic reforms to reignite...

One Finance (OneFi) has secured a $5M debt facility for its consumer facing platform, Paylater. The facility comes from New York and Nairobi-based Lendable, a technology-enabled funding provider to African consumer and SME lenders. The debt facility will be used to deploy more loans to Paylater customers, specifically through a suite of innovative new products. Since its launch in 2016, Paylater has deployed over $60M across 750,000 loans, approving over 1,500 loans a day with an...