Yellow Card teams up with Visa to expand stablecoin use in emerging markets
(left to right) Cuy Sheffield, Vice President, Head of Crypto, Visa; Chris Maurice, CEO & Co-Founder, Yellow Card; Godfrey Sullivan, Senior Vice President, Head of Product and Solution, CEMEA, Visa
Africa-focused crypto payments firm Yellow Card has partnered with global payments giant Visa to accelerate the adoption of stablecoins in cross-border transactions across emerging markets, the companies said on Thursday.
Yellow Card, a licensed stablecoin payments platform operating in more than 20 African countries, said the collaboration will explore new use cases for stablecoins in treasury operations, liquidity management, and international remittances.
The partnership is part of a broader push to modernis
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
14 hours ago
- IOL News
Aviation's role in helping Africa become an economic superpower
As home to the world's youngest workforce, paired with evolving legislation and massive capacity for expansion of airline services, Africa has unprecedented potential for development, writes Thierry Antinori. With the world's youngest and fastest growing workforce and rich natural resources, it is well documented that Africa has vast potential for socio economic development. Much has been said and written about how to unleash that potential, but the continent's people, business and political leaders have what it takes to turn Africa into an economic giant. A major reason for this is the continent's energetic, entrepreneurial spirit. It is clear that work still needs to be done. Increasing productivity is essential to restoring Africa's economic vitality and promoting growth. The aviation sector is a perfect example of where the challenge – and potential – lies. While home to 18 per cent of the global population, Africa makes up just two per cent of global air traffic, and two per cent of international trade. At the same time, the International Air Transport Association (IATA) and the world's major aircraft manufacturers, Boeing and Airbus, forecast that Africa is the only airline market that will grow significantly over the next 20 years. As a major global airline, Qatar Airways is keenly aware of the potential Africa holds and is laser-focused on ensuring that aviation plays an important role in connecting Africa. The aviation sector would drive and promote Africa's social, economic and political integration and boost trade and tourism. This has driven Qatar Airways to make investments and network expansions that support this goal. You only have to look at Qatar Airways' recent investment in Southern Africa's premier independent regional airline, Airlink; a new route to Kinshasa and its existing engagement in the development of Rwanda's aviation sector, to see that these words are backed by action. It's why, for example, Qatar Airways has adjusted its services leading to its current Africa-wide summer capacity that averages over 44,000 seats per week, equating to a maximum of 180 flights a week to about 30 cities across the continent. Moreover, Qatar Airways' passengers travelling between Cape Town and Doha will, as of 1st of June, be able to access Starlink's cutting-edge internet connectivity on-board select flights, allowing them to enjoy a fully complimentary and ultra-fast Wi-Fi service for streaming, gaming, and working seamlessly at 35,000 feet. As Qatar Airways celebrates its 20th anniversary in South Africa, the continued focus on the schedule and improved passenger experience reflects its commitment to the country and continent. The airline's recent acquisition of a 25% stake in South Africa's regional airline, Airlink, underscores its confidence in Africa's tourism growth potential. But it is not just route frequencies that are helping drive aviation's role in helping manifest Africa's potential. Legislation is also a factor. The Single African Air Transport Market (SAATM) aims to harmonise Africa's airspace, improve air traffic management, and increase intra-African air connectivity. So far, 34 African countries have signed up. The movement is promising and will be more effective once all African countries come onboard. We will need the best people working in aviation if the projected tourism numbers are to be met. The total contribution of travel and tourism to Africa's GDP was USD191 billion in 2023 and is forecasted to rise by 4.4 per cent annually from 2024 to 2034. The impact of this on the continent's workforce cannot be overstated. It is projected that by 2034, travel and tourism would support 38,760,000 jobs (6.0% of total employment), an increase of 3.9% per annum since 2024, according to World Travel and Tourism Council (WTTC) research. Qatar Airways' commitment to Africa has been underscored with a steady recruitment drive to bolster the nearly 8,500 full-time employees from across Africa that are currently working within the Qatar Airways Group, both in Doha and the outstations. Qatar Airways' continuous strategy-aligned recruitment drive to help develop human capital across Africa accelerates the airline's growth in the region, which will continue to unlock hundreds of vacancies in fields such as cabin services, cargo and airport operations, customer services, engineering, flight operations as well as retail and hospitality services. This provides opportunities for exciting and fulfilling careers for young Africans with the world's best and fastest growing airline and helps drive aviation's role as a driver of regional and global development. This commitment has led to Qatar Airways being voted the most desirable company to work for in countries like Algeria, Morocco, Seychelles, Uganda and Zimbabwe, according to With greater employment opportunities comes the associated economic benefits. The ratification of the African Continental Free Trade Area (AfCFTA), a major component of the African Union's (AU) Agenda 2063, was drawn up to accelerate the continent's socio-economic growth. The AU anticipates that Agenda 2063 will catalyse the integration of African regional markets, stimulating growth and supporting the welfare of its people. Underpinning that is the role of faster, easier, more economically viable trade networks, expediting the movement of people and goods. The numbers speak for themselves. The WTTC estimates that international visitors will spend USD71.5 billion across Africa this year; an increase of USD11.2 billion from last year, and domestic visitors will spend USD101.3 billion, a year-on-year increase of 6.8 per cent. Leisure spending still outweighs business spending at 70.1 per cent. The momentum of the aviation sector's contribution in Africa's development must be maintained. As governments fully embrace the freedom of movement under an 'Open Skies' policy, liberalisation of Africa's airspace promises to spur trade and development and deliver improved connectivity within Africa and between the continent and rest of the world. Aviation plays a central role in infrastructure development, economic growth and tourism, generating $6 in economic activity for every $1 spent. According to a 2020 study conducted by the Air Transport Action Group, airlines, airport operators, retailers and other aviation related businesses supported 7.7 million jobs across Africa and generated a $63 billion contribution to GDP. Business and its associated out-turns such as employment, always thrives where there is dependable, safe, and competitively priced air transport network. Now more than ever before, it is important that we all work hand-in-hand to ensure that we unlock all of the potential and benefits that come with better connectivity in Africa. Commercial aviation stands ready and is in many ways already playing its part in helping ensure that Africa emerges as the global economic superpower it is capable of becoming.
IOL News
14 hours ago
- IOL News
B20 leaders call for closing the infrastructure gap for sustainable growth in Africa
B20 Task Force leaders (from left to right): Sim Tshabalala, chair of the Finance and Infrastructure Taskforce; Busi Mabuza, chair for the Trade and Investment Task Force; B20 Sherpa Cas Coovadia; and Mxolisi Mgojo, co-chair of the B20. Image: Supplied The Business 20 (B20) Task Force leaders are calling for the continent to address the pressing need for improved infrastructure across Africaas as well as sustainable economic growth. Sim Tshabalala, chair of the Finance and Infrastructure Taskforce, said Africa holds significant reserves of critical minerals essential for the global energy transition yet currently collects only 40% of the revenue possible from these resources. 'However, Africa collects only about 40% of the revenue that could be generated by these resources. Now, I ask you, how about if we got 60%? We need the right business environment, the appropriate social and environmental regulation, and the necessary infrastructure,' Tshabalala said. 'In other words, our capacity to drive the world's growth depends to a large extent on our ability to maintain and expand our infrastructure. To use a South African example well known to everybody, we need to improve our rail and port infrastructure. According to data by the African Development Bank, Africa needs to spend about $170 billion a year to meet our infrastructure needs.' Tshabalala was speaking during the roundtable of the B20 Task Force Leaders. The B20 serves as the official G20 dialogue forum with the global business community. Each year, the B20 provides a platform for companies and business organisations to articulate their perspectives on pressing global economic and trade issues, ensuring that the voice of the business community is heard at the highest levels of international economic governance. The B20 is made of eight task forces that are developing evidence-based solutions on trade, energy, digital inclusion, climate, and more. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Tshabalala said they were able to mobilize about half of the required amount at the moment, creating an African infrastructure funding gap of $85bn. He said for South Africa alone, that gap was $29bn and for the world as a whole, it was roughly $500bn. 'And so the core mandate of the Finance and Infrastructure Task Force is to work on ideas for the G20 and other key stakeholders to help close this massive infrastructure gap. To that end, we've developed ideas in three broad areas,' he said. Tshabalala said the first idea was to support the expansion of investable infrastructure projects. This would be followed by improving access to capital by increasing the availability, effectiveness, and resilience of public, private, and philanthropic investment. The third idea revolves around drafting proposals about how to enhance the flow of funds between investors, infrastructure projects, and the wider community. 'As we have worked to develop our draft proposals over the last few months, we focused on a combination of long-term policy proposals and short-term actions to drive meaningful change. As one example of a critical long-term reform, we would like to promote greater coordination and cooperation among infrastructure programs, both within and between countries,' Tshabalala said. 'This involves prioritizing strategic sectors such as energy and digital infrastructure, sectors which hold the highest potential to impact economic growth and can act as catalysts for development in other areas. 'In the short term, we are focusing on project preparation and support. This includes encouraging a stronger emphasis on conducting robust feasibility studies and developing comprehensive business plans, as well as streamlining regulatory processes to reduce bureaucratic hurdles, ensuring that projects are better prepared and more likely to succeed.' Mxolisi Mgojo, co-chair of the B20, reiterated that the G20 represents 85% of global GDP, 75% of trade, and two-thirds of the world's population. Mgojo then questioned what should be Africa's unique value to the collective business sector of the G20. 'Africa is central to many of the global challenges. Issues of critical minerals, renewable energy, food security, and the world's youngest workforce that is emerging. We must shift the narrative from potential to progress, ensuring growth benefits all, not just the global North,' Mgojo said. 'Key priorities that Africa should be focusing on are, one, inclusive growth, advancing AfCFTA and regional value chains to unlock Africa's $3.4 trillion market, bridging economic divides in sub-Saharan Africa, where 400 million-plus are in poverty is going to demand urgent attention and action. 'The second is global collaboration. In a fragmented world, Africa can be a bridge, balancing East-West tensions while securing supply chains. Public-private partnerships are critical to drive investment and stability. 'Thirdly, sustainability and innovation. Leveraging Africa's renewable energy potential, such as solar, wind, and hydro, for just energy transitions is going to be very important. That's ensuring also digital inclusion to close the gap for SMEs and informal economies. And therefore, there is a real call to action. This is a collaborative effort.' The B20 Summit will be held on the sidelines of the G20 Summit in Johannesburg in November 2025. BUSINESS REPORT
Mail & Guardian
18 hours ago
- Mail & Guardian
Vodacom Business named 2025 Most Trusted Enterprise Telecommunications Provider of the Year
Vodacom Business has been voted winner of the Most Trusted Enterprise Telecommunications Provider of the Year award for 2025 by MyBroadband, reaffirming its leadership in delivering advanced ICT solutions that drive digital transformation across South Africa's business landscape. This annual accolade recognises the provider offering the most comprehensive and effective telecommunications services to South African enterprises. Vodacom Business stood out for its strategic integration of cutting-edge technologies, robust infrastructure, large market presence and consistent client satisfaction. The recipient of award is determined through an extensive survey of 783 executives and managers that influence the ICT purchasing decisions of their companies. Nearly a quarter of all respondents voted for Vodacom Business as their first choice for most trusted enterprise telecommunications provider. 'Vodacom Business is proud to be recognised as the Most Trusted Enterprise Telecommunications Provider for 2025,' says Videsha Proothveerajh, Director of Vodacom Business. 'This achievement is a testament to our dedication to advancing our cutting-edge ICT solutions, ensuring excellent customer service, and expanding our reach to ensure that businesses of all sizes, in every industry, can succeed in our technology-driven world.' Recent Organisations are leveraging technologies such as cloud computing, enterprise software, and digital communication tools to drive efficiency and competitiveness in a rapidly evolving digital economy. Launched in February 2008, Vodacom Business's extensive network of local and international points of presence, dedicated international bandwidth, and secure, carrier-grade data centres underpin its ability to deliver enterprise-grade connectivity and hosting solutions. These capabilities are further enhanced by its access to the broader Vodacom Group's global resources. Vodacom Business is dedicated to helping businesses tap into new opportunities, managing data from hundreds of millions of customers and serving clients, from government and large enterprises to SMEs. Last year, the organisation was also voted South Africa's most trusted Enterprise Telecommunications Provider according to the MyBroadband tech survey, showcasing the importance the organisation places on fostering relationships with its clients and being invested in the success of those who use its services. 'It's not just about being a service provider, it's about co-creating solutions with our clients and partners that drive growth, efficiency, and long-term success. To this end, we are immensely grateful to our customers for their unwavering support on our journey to achieve this for the second year in a row. As we look ahead, we remain focused on driving digital transformation that not only supports business growth but also contributes to broader economic development. At the heart of everything we do is our purpose: to connect people and businesses to a better future through the power of technology,' concludes Proothveerajh.
