Tag Archives: Financial Inclusion

MTN Nigeria has successfully acquired the remaining 7.17% minority stake in its mobile money subsidiary, MoMo Payment Service Bank (MoMo PSB), from Acxani Capital Limited. The leading telecommunications provider in Nigeria made a public announcement on the Nigerian Stock Exchange (NGX) website. This development marks a significant milestone for the …

Airtel Africa’s 2024 Sustainability Report has  revealed Airtel Money’s deep commitment to bridging the digital and gender divide as well as promoting financial inclusion  and empowering African communities. The report highlights the company’s impactful initiatives aimed at promoting financial inclusion, fostering digital learning, and cultivating a diverse and inclusive workforce. …

By Elvis Eromosele The Central Bank of Nigeria (CBN) recently mandated that all Point of Sales (PoS) operators complete their registration with the Corporate Affairs Corporation (CAC) by July 7, 2024. This directive aims to formalize the operations of PoS businesses across the country, boosting regulatory compliance and promoting financial inclusion.   However, …

…Prioritizes User Trust The Managing Director of PalmPay Nigeria, Chika Nwosu, has called for close collaboration between Fintech companies and regulators to build a secure and trusted digital payment landscape that drives financial inclusion in Nigeria. Nwosu’s remarks came during a recent appearance on Channels TV’s Business Roundtable, where he …

Airtel Africa is experiencing a mobile money boom, with transaction value surging by a staggering 38.2% in constant currency for the year ended March 31, 2024. This impressive growth, exceeding $112 billion in reported currency, signifies a significant rise in cashless transactions across Africa. Driving the Surge: Increased Adoption and …

In a bid to further create awareness on the need to practice healthy lifestyle particularly among the productive segment of the society, 9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, focused on financial inclusion, has advocated for a healthy lifestyle among staff members. This was made known during …

…India to lead worldwide consumer growth with 31% Rising markets in Latin America (LatAm), Africa, and Asia are guiding the global surge in new consumers, with India leading the way, by adding 34 million people to the consumer class this year, almost one third of the 109 million worldwide. After …

…Pledges Compliance to CBN Regulatory Guidelines In its bid to provide customers with the best payment user experience and promote financial inclusion, Opay has announced the opening of 17 physical customer services locations across Nigeria. The Director of Card Business, OPay, Precilia Olayemi made this disclosure at the press conference …

As the wider world continues to rapidly embrace digital payments, access to financial services has become critical for businesses and to thrive. But for the underbanked and underserved, especially in rural areas, this access remains a major hurdle. According to the latest research released by EFInA in its Access to Financial …

One of the factors limiting financial inclusion among the unbanked is the perception that banks are not safe to store money. This concern increases exponentially with digital banking platforms as the suggested mode of banking. News headlines such as “Electronic Fraud: I called my bank to block my account but …