South African inflation slowed more than projected to a 13 month-low in May, easing pressure on the central bank to continue raising interest rates. The annual inflation rate was 6.3%, down from 6.8% in April, according to a report released by the statistics office on Wednesday. The median estimate of 13 economists in a Bloomberg … Read More “CPI slows more than expected in May” »
by Fintechnews Africa 20 June 2023 Google Cloud announced a new collaboration with Moniepoint, an Africa-focused business banking platform that provides financial services to Nigeria’s underbanked businesses residing in remote areas and communities. The collaboration makes financial services accessible at scale to millions of small and medium sized enterprises (SMEs) by bridging the banking gap … Read More “Moniepoint Partners with Google Cloud in Nigeria” »
To read this article, you must be a paid subscription member. (Current members login here) Reserve your digital subscription today Join now for $35 per month Join now for $399 per year for access to: Weekly newsletter with original and curated news, analysis, and perspective Africa’s private capital deals, fundraises, and the investment firms … Read More “Convergence rebrands permanent capital vehicle, taps dedicated CEO” »
The European Central Bank is poised to deliver what could be the penultimate increase in its unprecedented campaign of interest-rate hikes. Economists and markets overwhelmingly expect the deposit rate to be lifted by a quarter-point to 3.5% on Thursday, leaving them focused on guidance for how much further officials expect to raise borrowing costs with … Read More “ECB enters home stretch of historic hiking cycle: Decision guide” »
by Fintechnews Africa 19 April 2023 CV VC’s second African Blockchain Report 2022 affirms the transformational impact of blockchain in Africa, on the welfare of nations and the continent’s technology standing. Africa is the only global region to have experienced increased venture funding and an explosion in blockchain-specific funding. Cementing the fact that the technology … Read More “African Blockchain Venture Funding is Booming” »
by Fintechnews Africa 16 June 2023 Visa announced the launch of the new Visa Africa Fintech Accelerator program to help enable Africa’s expanding start-up community through expertise, connections, technology, and investment funding. The initiative was introduced by Visa Executive Chairman Alfred F. Kelly Jr. at Bloomberg New Economy Gateway Africa in Marrakech, Morocco. The Visa … Read More “Visa Starts Africa Fintech Accelerator Program” »
New Zealand’s central bank will need to hold interest rates at their current level “for a prolonged period” and should remain open to further hikes if necessary to tame inflation, the International Monetary Fund said. The Reserve Bank’s rapid increases of the Official Cash Rate to date are “appropriate” and are helping to slow consumer-price … Read More “New Zealand shouldn’t cut rates for ‘prolonged period,’ IMF says” »
by Fintechnews Africa 2 May 2023 The African Development Bank has signed a $525,000 grant agreement with Africa Fintech Network AFN (not associated to Fintechnews.africa) for the setup of the Africa Fintech Hub, an online portal that will serve as a one-stop shop for all fintech activities in Africa. The agreement was signed on 4 … Read More “Fintech Hub: African Development Bank and Africa Fintech Network Sign $525,000 Grant” »
Shopping online is a good place to find cheaper computers and appliances, but grocery prices are still rising at a fast clip. Prices of consumer goods sold online fell 2.3% in May in the US, the ninth consecutive month of declines and the biggest drop since the pandemic started, according to data from Adobe. That … Read More “US food prices are still up 8.2% online even as inflation cools” »
by Fintechnews Africa 9 May 2023 The Central Bank of Kenya (CBK) announced the issuance and implementation of the Kenya Quick Response Code Standard 2023 . The Standard will guide how Payment Service Providers and banks that are regulated by the CBK will issue Quick Response (QR) Codes to consumers and businesses that accept digital … Read More “Central Bank of Kenya Launches QR Code Mobile Payment Standard” »
