FinTech

How SACCOs and Saving Groups can Bridge the Financial Inclusion Divide: A Case of Wendi Mobile Wallet 

by Paul MurungiThe Big StoryNovember 27, 2024November 27, 2024

By Brenda Mpoora Saving and Credit Cooperative Societies (SACCOs) are making a tremendous contribution in promoting a savings culture and driving financial inclusion to the last mile user in Uganda. A closer look at the 2023 FinScope report shows SACCOs had the highest growth of uptake in formal financial services from 5…

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MTN Mobile Money: Bridging the gap between Ugandans and financial services

by Jemima Kariuki-NjugunaCompany NewsFintechsThought LeadershipNovember 6, 2024November 6, 2024

Uganda is embracing the digital age, and the fintech sector is growing rapidly, transforming how people access financial services. At the forefront of this change is MTN Mobile Money (U) Ltd (MTN MoMo), a leader in mobile financial services that is making it easier for Ugandans to engage with their…

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South Africa Founded Fintech Omnisient Secures $7.5 Million Investment From Arise to Grow Financial Inclusion Across Africa and Beyond.

by Jonathan N. LubwamaAdvertising & CommunicationAfricaCompany NewsFinanceFintechsGlobal NewsICTIndustry & AnalysisThe Big StoryAugust 27, 2024August 27, 2024

South African fintech start-up Omnisient has received a $7.5 million investment from Arise, a company that invests in African financial service providers and fintechs that advance financial inclusion.Founded in December 2019, Omnisient is a privacy-preserving data collaboration and insights platform that allows the owners and users of consumer data to…

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Interswitch Uganda’s Peter Kawumi elevated to East African Regional Managing Director role

by The CEO Magazine TeamCEO Of The WeekCEOsCompany NewsProfilesOctober 24, 2023October 24, 2023

Following a spirited four and a half years as the Country General Manager of Interswitch in Uganda, Peter Kawumi has been elevated to the Regional Managing Director, East Africa. In that role, Peter will  “assume responsibility for strategic, sustainable growth and consolidation of all our businesses and initiatives within East Africa,”…

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How Service Cops’ tech platform, SchoolPay is digitising parents’ and school owners’ back-to-school pain away 

by Muhereza KyamuteteraCompany NewsFintechsNews & AnalysisThe Big StorySeptember 28, 2023September 29, 2023

The just-ended back-to-school season is one of those tough days for most parents; for different reasons. The usual hustle and bustle of parents and learners all over the country mad dashing, with shopping lists, trying to get ready for the crucial third term. Above and beyond this pandemonium, there are…

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Ugandan Fintech, Emata, Raises $2.4m to Expand its Agri-loan Services to East Africa

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 14, 2023September 14, 2023

Emata, a pioneering fintech and microfinance firm based in Uganda, has successfully secured $2.4 million in a seed funding round. The funds, which include $800,000 in equity and $1.6 million in on-lending capital, will be utilized to expand the company’s innovative agri-loan services throughout the East African region.The seed funding…

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Only 71% of Investors Get Regular Investor Updates from Portfolio Startups in Africa

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 12, 2023September 12, 2023

Startups need funding to grow at a speed that they want. This funding usually comes in the form of venture capital which is raised from VC firms, angel investors and other programs in exchange for equity. Funding for African startups has been growing steadily. In 2016, African startups raised just $130m…

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US Financial Services Giant, Mastercard Acquires Minority Stake in MTN’s Fintech Division.

by Jonathan N. LubwamaNews & AnalysisThe Big StoryAugust 14, 2023August 14, 2023

Mastercard Inc., a leading global payments and technology company, has recently announced its decision to acquire a minority stake in the fintech division of MTN Group Ltd., This strategic move comes just two years after Mastercard invested $100 million in Airtel’s mobile money business, demonstrating the company’s continued interest in…

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How Stone Atwine Grew Eversend to 500,000 Users with Just USD1.2M in Funding

by Jonathan N. LubwamaFintechsICTNews & AnalysisProfilesStartupsThe Big StoryJuly 31, 2023August 1, 2023

A startup, in its broadest sense, is a young, ambitious company that is in the initial stages of its business operations. These companies are typically driven by a unique business idea or a novel product or service, which they believe has the potential to disrupt the market. Startups are characterised…

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African unicorn, Flutterwave Launches New Product Called Tuition to Ease Tuition Payments. 

by Jonathan N. LubwamaICTNews & AnalysisStartupsJuly 13, 2023July 13, 2023

Flutterwave, the Pan-African payments startup, has launched a new product called Tuition by Flutterwave which will enable Africans to pay tuition for universities in the West in their local currencies. The new product was announced in a blog post on 11th July 2023. African students are increasingly attending universities in…

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