| Nigeria | Nigeria Inter-Bank Settlement System Plc (NIBSS) has commenced instant settlement on POS payments. NIBSS has commenced instant settlement on Point of Sale [POS] terminal payments so merchants will now receive payments for transactions as soon as customers check out. Financial Technology Africa |
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| Kenya | Safaricom introduces Mali, a new investment product powered by M-Pesa. Safaricom, a Kenyan telecoms company, has introduced an investment and wealth management tool called Mali, which allows M-Pesa users to invest as little as Ksh100 (~$0.99) daily, for up to 10% annual interest. Kenyan Wall Street |
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| South Africa | uKheshe and Mastercard partner to bring mobile payments to the unbanked. South African micro-transaction platform, uKheshe, has partnered with Mastercard to enable people such as previously unbanked traders, street vendors, and casual laborers, to accept payments through Masterpass, Mastercard’s digital payment service. IT News Africa |
| | EDITOR'S NOTE | Google for African businesses |
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Share a tip | Do you have an announcement, event, or job posting you'd like to share, or have you come across an interesting bit of African fintech news recently? Hit reply and let me know! I might be able to include it in next week's newsletter. |
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| Twitter | Is the USSD platform evolving from a simple interface to an abstracted payment rail? Wiza J. (@wizaj) and O'Jydo (@Ajairei) had a conversation on Twitter about the possibilities and limitations of progressing the USSD platform from a single-layer payment interface, to an abstracted payment rail. |
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| Twitter | 2019 Fintech 100 Report. KPMG announced the release of their annual Fintech100 report (2019 FINTECH100) which includes a detailed analysis of the top 50 leading and top 50 emerging global innovators in the financial services industry. |
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| Twitter | What impact would a reduction in the cost of mobile data have on the African fintech industry? Ronit Ghose (ronit_ghose) started a conversation on what the African Fintech space could look like if the cost of mobile data reduces in this Twitter thread |
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| Twitter | Findexable releases a global fintech index city ranking report. Findexable, a fintech research firm, has released the inaugural edition of the 2019 Global Fintech Index City Rankings. The report ranks the top fintech ecosystems in the world from a list of 230 cities across 65 countries. |
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| Nigeria | QuickCheck partners with Jumia and PayAttitude to provide credit facilities for customers. QuickCheck, a Nigerian micro-lending mobile platform, has announced their partnership with Jumia and PayAttitude, to provide customers with easy access to loans on the QuickCheck app. The Guardian |
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| South Africa | South African startup, My-iMali raises funding from Crossfin. Mobile wallet platform, My-iMali has raised funding from Crossfin, a South African investment company. Crossfin’s portfolio of companies can give My-iMali access to more than 9,000 retail stores, 110,000 integrated point of sale lanes, and 25,000 active merchants. Disrupt Africa |
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| Nigeria | Migo raises $20m Series B funding, expands to Brazil. Migo, a Nigerian credit startup formerly known as Mines, has raised $20 million in a Series B funding round, to finance its expansion to Brazil, and to accelerate its growth in Nigeria. The fundraising round was led by Valor Capital Group, a Brazil-focused venture capital firm Disrupt Africa |
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