Latest news with #M-Pesa
Zawya
3 days ago
- Business
- Zawya
Africa's quiet strength – what the world can learn from our way of delivering?
As someone leading a tech team here at BET Software in Africa, I've had a front-row seat to how innovation really works on this continent. It's not about chasing the next big trend or mimicking Silicon Valley. It's about solving problems that hit close to home, and that lands with a dash of passion. Using tools, building teams, and thinking rooted in our own realities. We build for reality, not ideal conditions Most of the solutions we build don't assume perfect conditions. We build for what's real: unreliable internet, power cuts, low-end devices. That shapes everything, from how we design user flows to how we architect our infrastructure. Take fintech, for example. When banking access was limited, we didn't wait for institutions to catch up. We built around them. Mobile money services like M-Pesa, E-Wallets, and MoMo didn't just support digital payments; they created an entirely new financial layer. That same practical thinking drives our own product decisions every day: APIs built to handle network drops, apps that don't break when bandwidth drops to near-zero, and services that work on basic phones without draining data. Resilience isn't a buzzword, it's the baseline In our context, resilience isn't a feature; it's the foundation. Our products are expected to perform in environments where a five-minute power cut, or network spike is a normal part of the day. That forces us to write leaner code, run efficient backends, and make smart bets on frameworks that won't crumble at scale. Technologies like DataFree have helped us reach more users by letting them access content without using their own mobile data. In a world where data is still a premium commodity for many users, that kind of solution isn't just clever, it's essential. We design with community in mind What makes African tech truly unique is that it's built with people, not just users, in mind. Many of the fintech products we've launched in Africa support things like group savings, informal lending, and community contributions. These aren't edge cases, they're central to how money moves here. This community-first approach runs deep. It's why we prioritise trust-building, transparency, and local relevance in everything we build. The result? Products that don't just get used, they get embraced. The future is already here, just not evenly recognised Africa isn't catching up. We're creating on our own terms. From mobile-first finance to ultra-efficient apps, from offline functionality to culturally embedded design; we're proving every day that innovation doesn't need perfect conditions. It needs the right mindset. As the world searches for more human, resilient, and inclusive tech, I believe Africa already has the blueprint. It is time more people started paying attention.
Fintech News ME
23-05-2025
- Business
- Fintech News ME
Mobile Wallets Thrive in MEA, with Around 50 Competing Brands
In the Middle East and Africa (MEA), mobile wallets have transformed into a large and diverse market, home to approximately 50 unique brands and providers. A recent e-book by Thunes, a Singapore-based cross-border payment infrastructure provider, looks at this burgeoning landscape, revealing a complex ecosystem shaped by domestic fintech leaders and telecommunications firms. Local champions lead the way In many MEA markets, domestic mobile wallets have emerged as clear market leaders, with Egypt's Fawry, Kenya's M-Pesa, Nigeria's OPay, and Turkey's Papara exemplifying this trend. Fawry controls 40% of Egypt's mobile wallet market, while M-Pesa has an extraordinary 95% share in Kenya. In Nigeria, OPay leads with 51%, and in Turkey, Papara holds a significant 32% share. The dominance of these players can be attributed to a number of factors. For one, these companies have a deep understanding of local payments behaviors and needs. They tailor their offerings with local contexts in mind, offering interfaces in local languages, integrating with national identification systems, and supporting low-tech communication channels. For example, M-Pesa from Kenya pioneered mobile money through SMS. The solution allows users to deposit money into an account stored on their cell phones, send balances using PIN-secured SMS text messages to other users, including sellers of goods and services, and redeem their deposits from a network of agents. Trust is another critical factor. In areas where financial literacy is still developing, users prefer familiar, locally-rooted brands. In Nigeria, for example, the rise of OPay has been fueled by the company's strong on-ground presence, agent networks, and heavy investment in branding. These have reinforced credibility and user confidence. Telcos and mobile money drives financial access Across many African nations, telecom operators were the first to offer mobile wallets, long before banks or fintechs entered the space. M-Pesa by Safaricom is a global benchmark for mobile money success. The service was first launched in Kenya in 2007 before expanding to markets including Tanzania, Mozambique, the Democratic Republic of the Congo (DRC), Lesotho, Ghana, Egypt, Afghanistan, South Africa and Ethiopia. Other major telco-led wallets include MTN MoMo and Airtel Money. MNT MoMo started in Uganda in 2007, initially offering peer-to-peer (P2P) payments. Since then, MNT MoMo has expanded into 16 countries, evolving into a robust e-wallet platform. Airtel Money, offered by India's Bharti Airtel, allows users to manage funds from their phones, including storing value, making purchases, and transferring money seamlessly. Today, Airtel Money operates across more than a dozen markets, including Gabon, Tanzania, Madagascar and Malawi. In Ghana, Kenya, and Egypt, telco-led wallets remain dominant. In Kenya, M-Pesa dominates with a staggering 95% share. In Ghana, the mobile wallet market is led by MNT MoMo with a 55% share, followed by Vodafone Cash at 20% and AirtelTigo Money at 15%. Finally, in Egypt, Vodafone Cash and Orange Money rank second and third respectively, with shares of 30% and 15%, respectively. Strong use of bank wallets in urbanized, higher-income markets In more urbanized and financially developed markets, bank-owned mobile wallets hold a prominent position. In South Africa, for example, bank wallets command a market share of 41%, making them the top mobile payment method. In Turkey and Saudi Arabia, these apps rank second in market share, with 23% and 18%, respectively. The United Arab Emirates (UAE) also see significant usage, with bank wallets holding a 15% share and ranking third overall. Widespread adoption of bank wallets in these markets reflects the relatively high level of trust in traditional financial institutions. These markets also tend to have higher bank account penetration rates, making bank wallets a natural extension of existing customer relationships. In South Africa, the UAE and Saudi Arabia, over 80% of the adult population had a bank account in 2021, according to the World Bank. Apple Pay leads in the Gulf In the more digitally advanced and affluent parts of MEA, global tech wallets have established a strong foothold. Apple Pay, in particular, is the leading mobile wallet in both Saudi Arabia and the UAE, with market shares of 36% and 27%, respectively. Google Pay, and Samsung Pay are also well established across the region, holding significant shares in South Africa and the UAE. The popularity of tech mobile wallets in these markets is fueled by several factors, including high smartphone penetration, widespread use of debit and credit cards, and a digitally savvy, middle- to upper-income consumer base. In the UAE, for example, iPhones account for about 17% of the smartphone market, making Apple Pay a natural fit for mobile payments. Largest mobile wallets by market share: Egypt: Fawry (40%) Ghana: MoMo (MTN) (55%) Kenya: M-Pesa (95%) Nigeria: OPay (51%) Saudi Arabia: Apple Pay (36%) South Africa: Bank mobile wallet apps (41%) Turkey: Papara (32%) Mobile wallet distribution in key MEA markets:
Daily Maverick
16-05-2025
- Business
- Daily Maverick
Why closing the gender digital divide unlocks opportunity for all
World Telecommunication and Information Society Day, celebrated annually on 17 May, shines a spotlight on a critical issue this year: gender equality in digital transformation. The stark reality, as highlighted by the International Telecommunication Union (ITU) in 2024, is that the majority of the 2.6 billion people still unconnected are women and girls. This digital divide is not just a gap in access; it is a chasm that separates men and women in their ability to leverage digital technologies for progress and empowerment. While billions globally rely on the internet and mobile technologies daily, millions of young girls and women, especially in developing countries, remain offline due to issues of affordability and low levels of literacy and digital skills. This exclusion is not just a matter of inequality; it is a barrier to social and economic advancement and growth. When women and girls are unable to access to digital solutions, they are cut off from a gateway to vital information, educational resources, job and business opportunities, health information, and financial literacy. This digital exclusion perpetuates economic disparities, leaving women earning less than their male counterparts and limiting their potential. The consequences extend beyond individual livelihoods. The absence of women and girls in the digital realm means their perspectives and needs are often ignored in the design and development of technology. The ITU highlights that women are significantly underrepresented in executive positions, as ICT entrepreneurs, and in high-level science and technology policymaking. This lack of representation stifles innovation and perpetuates a cycle of exclusion. Addressing the gender digital divide is a moral imperative and, importantly, it is a business and social necessity. The Mobile Gender Gap Report (GSMA, 2025) highlights that closing the mobile internet gender gap could result in an additional $1.3 trillion in global GDP before particularly in underserved and rural areas, face systemic barriers to connectivity, including digital literacy gaps and limited access. By investing in targeted initiatives like digital skills training, we can empower millions to participate fully in the digital economy. Promoting gender representation in the tech industry amplifies impact and ensures that digital inclusion strategies are both gender-responsive and sustainable. Vodacom's Code Like a Girl Programme exemplifies this commitment. This initiative teaches coding skills to girls aged 14-18, building their confidence and digital literacy from an early age. By connecting them with passionate mentors, we encourage them to pursue ICT and STEM subjects, opening doors to future opportunities. Since its launch in South Africa in 2017, almost 23 000 young girls have benefited from this programme. Mobile technologies like M-Pesa also play a crucial role in empowering women economically. In the DRC, our Je Suis Cap initiative has trained and empowered 2,164women with disabilities to become M-Pesa agents, allowing them to run their own businesses and achieve financial independence. Within our industry, fostering greater gender representation requires embedding inclusion at every level, from recruitment to leadership development. At Vodacom, we have set measurable diversity targets, ensured equitable hiring practices, and actively address unconscious bias. Mentorship programmes for women in tech, especially in STEM roles, help build a strong pipeline of female talent. Flexible work arrangements, parental support policies, and safe, inclusive work environments enable more women to reach their potential and lead. As we mark World Telecommunication and Information Society Day, Vodacom reaffirms its commitment to building an inclusive digital society. When women and girls are connected, skilled, and represented in the digital world, everyone benefits. Inclusive digital transformation unlocks new ideas, strengthens economies, and creates a more equitable future for all. It is time to ensure that no one is left behind in the digital age. DM Author: Stephen Chege, Chief Regulatory and External Affairs Officer
Finextra
14-05-2025
- Business
- Finextra
The New Payout Standard: Five Shifts Redefining How Money Moves Around the World: By Aron Alexander
Picture a rideshare driver that finishes her day and needs gas money now—not Friday when weekly payouts process. Elsewhere, a digital creator waits three days for payment to clear, forcing him to delay rent. Meanwhile, a global marketplace loses thousands of sellers who migrate to a competitor offering same-day settlement. These moments reveal a frustrating truth: despite advances in financial technology, the infrastructure that moves $30 trillion in B2C payouts annually remains stuck in the past. The traditional payment rails that move money today weren't built for platforms paying millions across borders. They weren't designed for a world where financial value flows alongside information. And they certainly weren't created with the understanding that payment experience shapes everything from talent retention to global competitiveness. Five fundamental shifts are transforming how businesses approach payouts. These shifts present significant opportunities for businesses ready to adapt to Universal Payouts, an approach where everyone, everywhere has access to money in every way possible. 1. Legacy Infrastructure: When Old Roads Can't Handle New Traffic Traditional payment systems were built for consumers pulling money from accounts to make purchases. They were never designed for platforms pushing thousands of small payments outward daily to workers, creators and customers scattered across the globe. Legacy systems like ACH, BACS, and SWIFT operate on fixed schedules with predetermined pathways. But when a marketplace needs to pay 10,000 sellers across dozens of countries or when a gig platform processes millions of earnings requests in real-time, these limitations become business-critical bottlenecks. Slapping new interfaces on old infrastructure just masks the problem. True modernization demands: Settlement that happens now, not during tonight's batch processing Money that behaves like software—programmable, automated, configurable Unified systems where dollars, gift cards, points and digital currencies flow through common channels For growing platforms, instant payouts aren't luxury—they're survival. When money moves slowly, trust erodes quickly. 2. Value Translation: The Local Language of Money Walk down a street in Manila, Mumbai and Miami, and you'll find completely different financial ecosystems. Yet too many companies treat money as one-size-fits-all. A $100 digital prepaid card might work beautifully for someone in Chicago but create frustration for a recipient in rural India. A bank transfer taking three days might be tolerable in some contexts but relationship-ending in others. Someone in Kenya may depend on M-Pesa for daily transactions, while a recipient in the Philippines needs GCash to function in their local economy. Universal Payouts systems don't just deliver currency—they translate value across these diverse ecosystems. They recognize context: the person receiving funds, their location and what form of payment creates maximum utility in their specific circumstances. When an education platform lets teachers choose between instant local bank deposits, mobile wallet transfers or prepaid cards, they're not being nice—they're being smart. They're creating the seamless experience that keeps their ecosystem vibrant. 3. The Workforce Factor: When Payment Experience Upstages Amount Independent work is expanding three times faster than traditional employment. For platforms depending on this talent, how people get paid has become as crucial as how much. The numbers tell the story: 72% of independent workers say they'd abandon a platform over poor payment experiences. People choose gig work, freelancing and creator paths partly for autonomy—yet, nearly as many also consider fast and reliable payouts critical to their work. The winners in this new labor landscape grasp this reality instinctively. Earnings and fees transparency, payment speed and flexible payout options aren't nice extras—they're competitive weapons in the battle for talent. When someone can tap "cash out" after completing work and see funds instantly available, their relationship with a platform fundamentally changes. 4. Loyalty Reimagined: From Points to Personalization Traditional loyalty programs are fading. Static point systems and generic discounts can't compete with personalized value that feels relevant and immediate. The research backs this up: 54% of consumers join loyalty programs specifically for customized rewards. More tellingly, 74% engage more when redemption happens instantly. The message? People don't want generic rewards—they want meaningful value delivered when and how they prefer it. When a travel company lets customers instantly convert points to gift cards, cash back or partner perks—all accessible within seconds—they transform transactional exchanges into emotional connections. Sophisticated brands have figured out that loyalty isn't built through accumulation—it's built through meaningful exchange. That exchange resonates most powerfully when customers control how value reaches them. 5. Payout Infrastructure Unification: Breaking the Complexity Trap Look behind the scenes at most global companies and you'll find payout chaos—different providers for different regions, methods and recipient types. This fractured approach creates a management nightmare of reconciliation, compliance and engineering headaches. The approach functions adequately—until the company needs to expand, introduce new payout options or scale operations. Suddenly the complexity becomes paralyzing. Finance teams drown in reconciliation work. Engineering resources get diverted to maintenance rather than innovation. Companies breaking free from this trap are unifying their entire payout infrastructure on platforms built for global scale. This isn't merely about simplification; it's about strategic positioning. When a marketplace consolidates multiple regional payment systems into one unified platform, they gain the ability to enter new markets in days instead of months. They create consistency across regions. They free resources to focus on growth rather than maintenance. The Last Mile That Matters Payouts represent the moment of truth in the commitment a business makes to its stakeholders. When a platform promises to pay drivers, reward customers, or compensate creators, that promise culminates when money actually lands where it needs to go. Fail at that moment—through delays, complications, or rigidity—and trust evaporates instantly. Nail it, and you build the foundation for lasting relationships. The leaders reshaping commerce understand that payouts aren't just financial transactions—they're expressions of value that strengthen or weaken the bonds between platforms and the people powering them. In an economy built on trust and connection, payment experience may be the decisive factor determining which businesses flourish and which fade away. The future of Universal Payouts isn't just faster or cheaper money movement—it's fundamentally more attuned to human needs. It recognizes that behind every transaction stands a person with unique circumstances and expectations. The platforms grasping this reality aren't just moving money better—they're building ecosystems where value flows naturally to everyone involved.
Mail & Guardian
12-05-2025
- Business
- Mail & Guardian
iGaming expansion to Africa: The economic growth of an emerging market
When a geographic region with a high potential intersects with technology, you will start to see it grow, with the economy being the one flourishing. A good example is the African market, where the internet and smartphones started to penetrate the market, bringing African users closer to the World Wide Web. Predictably, in poor countries, the most successful businesses are those selling promises. Today we are taking a look at how iGaming expands to Africa and what effects this phenomenon has on the growth of the economy in that region. Mobile Devices Are The Engine of Growth The reason for why Africa is such a promising market for iGaming to flourish in is its youthful population. According to the Considering that more than 650 million Africans have a mobile phone with access to the internet and banking systems, it creates the proper environment for the seed if iGaming to shoot. On top of that, the most popular and used banking method in Africa is M-Pesa, a mobile phone-based money transfer service Africans use in their day-to-day lives. So, you have more than 650 million phone users who are able to transfer money, most of them being under the age of 25. According to experts at If you mix this prosper environment with the cultural context of betting in Africa, you have yourself millions of users switching from physical sports wagering and lotteries to digital betting. Therefore, both young and older Africans are potential customers for international casinos to monetize on. Regulatory Landscape: Challenges Have Become Objectives It is clear that there is an interest for the African market. Historically, African have been betting on sports since the 18th century. They love to wager on football, rugby, cricket, horse racing and golf. Enjoying a game with a couple of betting odds on the side is nothing but normality in all African regions. However, while governments see the opportunity of iGaming taxation, there are still some regions where certain betting activities are forbidden. African iGaming regulation happens as we speak, so let's talk about what are the challenges operators face in Africa. The internet is not great(yet): Most smartphones African users have are still operating with 2G or 3G, maybe 4G networks which does not help the loading speed at all. Operators have to make huge efforts when optimizing their platforms to make the betting experience enjoyable. Casinos are not stadiums: Africans may be in love with placing wagers on sports, and this may trick you into thinking that casino games, virtual sports or live table games would also be a success. Well, think twice because sports wagering has strong cultural roots while digital gambling and casino activities tend to be seen in a bad light. Different countries, different regulations: ● Nigeria: Sports betting and lotteries are legal, while other forms of classic gambling like roulette and dice games remain prohibited. ● Kenya: Implemented the Gaming Bill of 2019, legalizing online gambling. However, fluctuating tax policies have created uncertainties for operators. ● South Africa: Online gambling is regulated at the provincial level, with online sports betting permitted in certain regions. However, online casinos remain illegal under national law. ● Ethiopia: The market is regulated through the Ethiopian National Lottery Administration, but in present times. ● Tanzania: The Gaming Board of Tanzania regulates the iGaming environment in this region where the majority of the population is interested in sport betting. ● Ghana: The Ghana Gaming Commission is enjoying a 68.2% internet penetration where football, basketball, tennis, boxing and ice hockey are always in the spotlight for betting. As a side note, Kenya increased its betting tax from 12.5% to 15% under the Tax Laws (Amendment) Act 2024. Also, both Ethiopia and Tanzania are still in their early stages of developing their infrastructure for internet adoption. The Future of iGaming in Africa What are we looking at is an industry sector that is about to explode and prove that no matter the geographic location, if there is an audience, there is revenue. According to To put it into perspective, the iGaming market in Europe reached US$164 billion in 2025. However, the African population measures a little over 1.5 billion individuals, while in Europe there are currently more than 750 million individuals. Remember that Africa has 650 million mobile phone users. We expect this market to reach impressive numbers sooner rather than later. Bonus Facts To conclude this small preview of the African iGaming market, here are a few bonus facts that we believe are participating in the growth of this industry in the region of Africa: ● Africa is still in the early stages of 5G network adoption. ● iGaming sponsors start to get involved in the sports tournaments and community fundraising projects. ● Live casino and poker are emerging trends that are still in that stage where the population is experimenting with them. ● The African iGaming market is a true A/B testing ground for responsible gambling strategy development, and we should not lose sight of how regulatory bodies manage to maintain the industry within healthy standards. What to Expect? Expect more brands to join the African market. Honestly, what we are most excited about is to see what new games and types of gamification will emerge, considering African players' tastes in lotteries. What do you think the next big trend will be if the African market begins its ascension?
