#African Telecom

[samyupatnana]

African MNO Witnesses 8% Drop in Customer Churn

The client, a major player in the African 4G LTE market, offers a range of services including broadband, VoIP, FTTH & FTTE. They aim to improve customer experience and control churn by migrating to a digital platform that supports converged charging and real-time billing.

The Csmart platform enables multi-service offerings from a single platform. This has simplified service management and improved service delivery. It has also allowed us to offer a wider range of services, catering to the diverse needs of our customers.

8-Percentage-Drop-in-customer-churn-Rate- for-African-MNO-V3 copy (csmart.digital)

[readingsquotes]

"When the chief prosecutor of the international criminal court (ICC) announced he was seeking arrest warrants against Israeli and Hamas leaders, he issued a cryptic warning: “I insist that all attempts to impede, intimidate or improperly influence the officials of this court must cease immediately.”

...Now, an investigation by the Guardian and the Israeli-based magazines +972 and Local Call can reveal how Israel has run an almost decade-long secret “war” against the court. The country deployed its intelligence agencies to surveil, hack, pressure, smear and allegedly threaten senior ICC staff in an effort to derail the court’s inquiries.

Israeli intelligence captured the communications of numerous ICC officials, including Khan and his predecessor as prosecutor, Fatou Bensouda, intercepting phone calls, messages, emails and documents.

..

Since it was established in 2002, the ICC has served as a permanent court of last resort for the prosecution of individuals accused of some of the world’s worst atrocities. It has charged the former Sudanese president Omar al-Bashir, the late Libyan president Muammar Gaddafi and most recently, the Russian president, Vladimir Putin.

Khan’s decision to seek warrants against Netanyahu and his defence minister, Yoav Gallant, along with Hamas leaders implicated in the 7 October attack, marks the first time an ICC prosecutor has sought arrest warrants against the leader of a close western ally.

The allegations of war crimes and crimes against humanity that Khan has levelled against Netanyahu and Gallant all relate to Israel’s eight-month war in Gaza, which according to the territory’s health authority has killed more than 35,000 people.

...

Hacked emails and monitored calls

Five sources familiar with Israel’s intelligence activities said it routinely spied on the phone calls made by Bensouda and her staff with Palestinians. Blocked by Israel from accessing Gaza and the West Bank, including East Jerusalem, the ICC was forced to conduct much of its research by telephone, which made it more susceptible to surveillance.

Thanks to their comprehensive access to Palestinian telecoms infrastructure, the sources said, intelligence operatives could capture the calls without installing spyware on the ICC official’s devices.

“If Fatou Bensouda spoke to any person in the West Bank or Gaza, then that phone call would enter [intercept] systems,” one source said. Another said there was no hesitation internally over spying on the prosecutor, adding: “With Bensouda, she’s black and African, so who cares?”. ......

One of the sources said the Shin Bet even installed Pegasus spyware, developed by the private-sector NSO Group, on the phones of multiple Palestinian NGO employees, as well as two senior Palestinian Authority officials.

Keeping tabs on the Palestinian submissions to the ICC’s inquiry was viewed as part of the Shin Bet’s mandate, but some army officials were concerned that spying on a foreign civilian entity crossed a line, as it had little to do with military operations.

“It has nothing to do with Hamas, it has nothing to do with stability in the West Bank,” one military source said of the ICC surveillance. Another added: “We used our resources to spy on Fatou Bensouda – this isn’t something legitimate to do as military intelligence.”

...

Three sources briefed on Cohen’s activities said they understood the spy chief had tried to recruit Bensouda into complying with Israel’s demands during the period in which she was waiting for a ruling from the pre-trial chamber.

They said he became more threatening after he began to realise the prosecutor would not be persuaded to abandon the investigation. At one stage, Cohen is said to have made comments about Bensouda’s security and thinly veiled threats about the consequences for her career if she proceeded.

[newsbites]

News from Africa, 19 June

Hage Geingob will host Danish PM Mette Frederiksen and Dutch PM Mark Rutte today in Namibia. Green hydrogen will reportedly be among the subjects discussed.

2. Namibia's proposed visa exemption for Chinese nationals is a bilateral agreement that would benefit both countries, according to China's ambassador to Namibia, Zhao Weiping.

Some Namibian politicians have objected to the proposal, with opposition leader McHenry Venaani claiming it is a "hoodwinking process" for Chinese prisoners to come to the country, and aspiring presidential candidate Job Amupanda alleging that it involves a deal between the ruling party and China to garner support for next year's elections.

The proposed agreement's main goal is to attract Chinese tourists and help Namibia become competitive again after the Covid-19 pandemic, according to Namibia's minister of home affairs, immigration, safety and security, Albert Kawana.

3. Angola and Zambia signed a memorandum of understanding to enhance cooperation in information technology, including digital transformation, AI, and space technology.

The agreement includes the establishment of direct cross-border optical fibre backbone connectivity between the two countries, scheduled to happen this month.

The collaboration is expected to help improve the regulation of the Angolan and Zambian telecom markets and lead to improved coverage and quality of ICT services provided in both countries.

4. Namibia is embarking on a journey of digital transformation to modernize various aspects of the country's life.

The Department of Home Affairs, Immigration and Security recently announced the successful implementation of an online passport application system, a major step towards delivering home affairs government services through digital channels. Namibia is partnering with Estonia to bring government services online and gradually prepare citizens for the transformation ahead. The Vice Minister of ICT recognizes the importance of foreign direct investment (FDI) for African technology spaces, but stresses the need for a clear roadmap or strategy to ensure that solutions developed in Africa fit the lifestyle on the continent.

5. Nigeria has 71 million people living in extreme poverty and 133 million people are classified as multidimensionally poor, according to 2023 data from the World Poverty Clock and the National Bureau of Statistics.

6. The Bank of Namibia increased the repo rate to safeguard the dollar-rand peg and contain inflationary pressures, but this will severely impact consumers who rely on debt to survive.

The governor expressed empathy for people losing their homes due to rising debt costs, and urged the nation to find better solutions to keep more Namibians in their homes while maintaining financial stability.

7. The fighting in Sudan has caused a surge in refugees fleeing to South Sudan, exacerbating an already dire humanitarian crisis.

The UN has called for $253 million in funding to respond to the crisis, but donations have been slow to come in.

The lack of resources and funding has led to inadequate food, water, and sanitation facilities in transit camps, resulting in malnutrition, disease, and preventable deaths.

[timesofinnovation]

Amidst the progressive transition towards advanced telecommunications networks, South Africa is taking significant steps to ensure that its citizens can access new technologies affordably. The proposed reduction of taxes on smartphones promises to make these essential devices more accessible, which is crucial as the country prepares to phase out older 2G and 3G networks by December 31, 2027. This strategy showcases a commitment not only to technological advancement but also to digital inclusivity. Communications Minister Solly Malatsi announced plans to initiate discussions with the Treasury about cutting the current ad valorem tax, which inflates the cost of smartphones. This tax relief is a strategic move aimed at facilitating the adoption of newer, faster networks like 4G and 5G, making modern technology more attainable for the average citizen. The South African government's policy, outlined in the Next Generation Radio Frequency Spectrum Policy, intends to repurpose the valuable radio frequency spectrum—previously occupied by outdated technologies—for innovative uses. By eliminating the luxury excise tax on smartphones, the government aims to significantly reduce device prices, thereby encouraging wider participation in the digital economy. However, the approach isn't without its critics. There are valid concerns that phasing out inefficient networks may exacerbate the digital divide, particularly among low-income and rural populations who may struggle to afford smartphones that are compatible with new network standards. This demographic often relies on older devices, raising questions about their ability to remain connected in a rapidly evolving digital landscape. MTN and Vodacom, two leading telecom operators, have voiced support for the government's proposal but stressed the importance of collaboration between industry stakeholders and the government. They called for a carefully managed transition that considers both the urgency of modernizing the network and the financial capabilities of end users. The Association of Comms and Technology has similarly urged for a more flexible timeline for the shutdown, advocating for a gradual transition to ensure that all segments of the population can adapt without falling behind. Real-world implications of such tax relief initiatives are evident in other regions as well. In various countries, tax reductions on technology products have yielded positive effects on market accessibility. For instance, in India, the reduction of Goods and Services Tax (GST) on smartphones led to a marked increase in sales and a wider adoption of digital services among diverse economic groups. This example highlights how sound fiscal policies can stimulate local economies and promote technology use across varied demographic segments. As South Africa aims to follow a similar path, it is important for policymakers to balance the urgency of modernization with the need for inclusivity. Continuous engagement with stakeholders, including community representatives, technology companies, and financial experts, will be crucial in designing a tax structure that addresses both economic and social needs. Beyond immediate taxation policies, the government could explore additional avenues such as subsidies for vulnerable populations, educational initiatives to increase digital literacy, and partnerships with technology companies to enhance the availability of affordable devices. These collective efforts could bridge the gap created by the transition to faster networks. It is also vital to monitor the outcomes of these proposed tax changes. An effective implementation could serve as a model for other nations grappling with similar technological transitions. By fostering a cooperative environment between public and private sectors, South Africa can not only enhance its telecommunications infrastructure but also significantly uplift its citizenry, enabling them to thrive in the digital age. In conclusion, the planned

tax relief for smartphones in South Africa represents a strategic move towards greater digital equity. While ensuring that advanced technologies are accessible is a step in the right direction, it must be accompanied by holistic measures that support those at the margins. With thoughtful execution and stakeholder engagement, South Africa can pave the way for an inclusive digital future.

[globalnews1]

The logo of telecoms giant Orange displayed at Mobile World Congress 2024 in Barcelona, Spain.Joan Cros | Nurphoto via Getty ImagesFrench telecoms giant Orange on Tuesday said it's partnering with Microsoft-backed OpenAI and Facebook-owner Meta to build custom artificial intelligence models designed to better understand regional African languages.Orange said it's working with OpenAI and Meta to develop custom AI models built on their respective Whisper and Llama open-source AI models — openly available systems that can be adapted to meet specific needs — that can understand West African languages not understood by most conversational systems.Currently, much of the data major AI companies train their algorithms on originates in the United States, which means their models can lose important context, such as culture and language, when it comes to different regions like Europe, the Middle East and Africa.That means it can be hard for those models to understand text and voice-based communications composed in less well-represented languages, according to Steve Jarrett, Orange's chief AI officer."Having an open model, you're able to do what's called fine tuning, where you you introduce additional information to the model that wasn't included when it was first trained," Jarrett told CNBC in an interview. "We're adding the recognition of West African regional languages that are not understood today by any AI."Orange plans to start by rolling out AI models that incorporate two West African regional languages, Wolof and Pulaar, which are spoken by roughly 16 million people and six million people, respectively, in early 2025.Wolof is a language spoken in Senegal, the Gambia and southern Mauritania, while Pulaar is mostly spoken in Senegal.The open-source AI models will be provided externally by Orange with a free license for non-commercial uses including public health and education, the company said. Orange plans to expand its custom AI model initiative to eventually cover all 18 West African countries."We're operating in West African countries where a lot of these regional languages are being spoken in our contact centers, but where the current AI models don't understand what these people are typing or saying," Jarrett told CNBC.Major large language models like OpenAI's GPT, Meta's Llama and Anthropic's Claude aren't well suited to Africans' needs as they weren't trained specifically on data originating from the region, according to Orange's AI chief.'Sovereign AI' pushThe move taps into a concept that's been gaining traction globally, known as "sovereign AI."The term refers to the idea that individual countries and regions should seek greater control over the core technological infrastructure upon which AI systems are built, by localizing data storage and processing to ensure they represent specific languages, culture and history.Orange is also looking to localize data processing and the hosting of OpenAI's models in European data centers. This, Orange said, will give it early access to OpenAI's latest and most advanced AI models and help it build new applications such as AI-powered voice systems for customer service.Jarrett said Orange is committing to using AI "responsibly" and "not always using the massive, large language model [LLM] for every problem" given environmental concerns associated with the technology's huge energy requirements.In addition to using AI systems to improve customer service, Orange is also using the tech to improve a core part of its business: mobile networks."On the network side, we use [AI] to not only optimize how we plan the network, but also how we operate the network right," Jarrett told CNBC."The volume of data is so large coming from all the network equipment that with AI systems, we can help identify those patterns in the data that could help us identify and predict failures even before the customer notices."

[fadlunews]

Dr Abimbola, Babatunde Senior Lecturer in Business Administration , Political Science, Public Administration .First African Distance Learning University (FADLU)

Dr Abimbola, Babatunde Senior Lecturer in Business Administration , Political Science, Public Administration .First African Distance Learning University (FADLU)

Abimbola, Babatunde DSMLD, DBA, Ph.D. (USA & UK), M.Sc. (LASU & HSE), B.A. (00U), MNIM, SCPMN

Senior Lecturer in Business Administration , Political Science, Public Administration .First African Distance Learning University (FADLU)

ACADEMIC QUALIFICATIONS Doctor of Strategic Management & Leadership Development Ph.D. - Business Administration& Management HSE University-Masters in Comparative Politics of Eurasia M.Sc. (LASU) in Human Resource Management & Industrial Relations B.A. (00U) in Philosophy Second Class (Hons.) Upper Division National Diploma (ND) in Secretarial Admin Upper Credit SCHOLARSHIP,. AWARD. PRIZES: General 00U Dept. of Philosophy for best student in Political Philosophy in: June, 2006 Overall Best Activation Staff, Pan Nigeria Visa fone communications s 2014 Nigerian Top Executives in the Telecoms and Computer Networks Industry award for Account Management 2015. HONOURS. distinctions and membership of learned societies

Senior Member, Chartered Institute of Public Management (CIPM)

Member, Nigerian Institute of Management Chartered (NIM)

Fellow Institute of sustainable development & management TEACHING, ADMINISTRATIVE AND MANAGERIAL EXPERIENCE (a) TEACHING & PROFESSIONAL

I have taught many Pre-varsity classes since 2002 and undergraduate courses at the various levels including Study center of the NOUN. Lectured Business Administration (Distance learning) at Igbajo Polytechnic, Igbajo, Osun state, Nigeria at both ND and HND level and a member of Faculty Member- Learn to Live Business School-UK. Head of Academic Operations-London Academy Business School-LABS

[iplook-networks]

IPLOOK's Recap of AfricaCom 2024: A Successful Journey

AfricaCom 2024 has come to a close, and IPLOOK is thrilled to share our experiences from this remarkable event. Held in Cape Town from November 12th to 14th, AfricaCom brought together key players in telecoms, connectivity, and infrastructure, fostering a vibrant platform for innovation and collaboration.

As a proud participant, IPLOOK exhibited our cutting-edge solutions and actively engaged with attendees, exploring potential collaborations and innovative strategies to fuel our market expansion across Africa.

Key highlights of IPLOOK from AfricaCom 2024 included: · Keynote sessions addressing digital inclusion and connectivity across Africa. · Discussions on the transformative potential of 5G and 4G networks. · Exploring new economic opportunities driven by advanced technologies. · Showcasing the importance of public-private collaboration for digital growth.

AfricaCom 2024 was an incredible opportunity for IPLOOK to connect with the African tech community, gaining valuable insights into the region's unique challenges and opportunities. We look forward to continuing these conversations and fostering new relationships as we work together to empower Africa's digital landscape.

Until next year, Cape Town!

Source: IPLOOK's Recap of AfricaCom 2024: A Successful Journey

[samevansjack]

How Starlink is Disrupting the Kenyan Telecom Market: A Closer Look

Starlink, the satellite internet service launched by SpaceX, is making waves globally and has begun disrupting the telecommunications market in countries like Kenya. Here’s how Starlink’s entrance into the Kenyan market is impacting local operators like Safaricom and others: Expanded Internet Access Kenya, like many other African nations, faces significant challenges in providing consistent and…

[ariatelecomsolutions]

SIP to PRI Gateway in South Africa

In South Africa, the telecommunication industry is experiencing significant transformation as businesses shift from traditional systems to more modern and cost-effective solutions. A key player in this evolution is the SIP to PRI Gateway, a device that seamlessly connects legacy PRI (Primary Rate Interface) lines to SIP (Session Initiation Protocol)-based networks. This gateway is essential for businesses that want to leverage the advantages of VoIP (Voice over Internet Protocol) while still maintaining their existing PRI infrastructure.

The primary benefit of using a SIP to PRI Gateway in South Africa is the reduction in communication costs. By converting PRI lines to SIP, businesses can take advantage of lower call rates, especially for long-distance and international calls. Moreover, SIP-based systems offer greater flexibility and scalability, allowing businesses to add or remove lines as needed without significant investment in new hardware.

In South Africa, where businesses often face challenges related to connectivity and infrastructure, the SIP to PRI Gateway provides a reliable solution. It ensures that communication remains uninterrupted even when transitioning from old to new systems. Additionally, these gateways are compatible with various telecom providers, making it easier for businesses to switch providers or negotiate better rates without worrying about compatibility issues.

Security is another critical aspect of the SIP to PRI Gateway. In South Africa, where cybersecurity threats are on the rise, these gateways offer robust security features, including encryption and authentication, to protect sensitive communication data. This is particularly important for businesses that handle confidential information or operate in regulated industries.

In summary, the SIP to PRI Gateway is a vital tool for South African businesses looking to modernize their communication systems. It offers cost savings, flexibility, reliability, and security, making it an essential investment for any business aiming to stay competitive in today’s fast-paced market.

[samyupatnana]

Churn Rate Decreases by 8% for African MNO

Our client, a major African 4G LTE operator, offers both pre-paid and post-paid models of broadband, VoIP, FTTH & FTTE services. Their objective is to improve customer experience by transitioning to an end-to-end digital platform.

The integration of multiple network elements across wired and wireless networks was made possible through our microservices-based Open API layer. This has significantly enhanced the functionality and interoperability of the Csmart platform. It has also allowed for a more flexible and scalable system, capable of adapting to changing business needs and technological advancements.

8-Percentage-Drop-in-customer-churn-Rate- for-African-MNO-V3 copy (csmart.digital)

[technologycompanynews]

Fintech: The digital key to spotting new markets - Journal Important Online - BLOGGER https://www.merchant-business.com/fintech-the-digital-key-to-spotting-new-markets/?feed_id=156475&_unique_id=66b199e6a9df3 This article was contributed to TechCabal by Leila Rwagasana.Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic growth and societal development. Today’s digital technology ought to make financial services even more inclusive.A prime example of fintech’s transformative power is M-Pesa in Kenya. Launched in 2007 as a mobile money service for airtime transfer, M-Pesa quickly expanded into a comprehensive financial tool. By 2021, M-Pesa’s transactions accounted for 87% of Kenya’s GDP, lifting 2% of households above the poverty line.The evolution of financial tools has always aimed to facilitate the exchange of goods and services, stimulating financial inclusivity and furthering societal development. Societies with advanced financial systems tend to prosper, as more inclusive financial transactions lead to higher incomes, increased demand, and innovation. Conversely, societies with restricted financial access stagnate and struggle to achieve economic growth. This pattern is particularly evident in emerging and developing countries, where financial inclusion remains a critical challenge. Post-independence, Africa’s financial systems remained unchanged, still designed to serve colonial interests. This left most of the population excluded from mainstream financial services. By the 1970s, about 90% of Africans were unbanked, and today, 52% remain without banking access, conducting 90% of transactions in cash. This exclusion hinders economic growth and development.Fintech, however, can turn things around. After the 2008 financial crisis, traditional banks became more conservative, and digital innovations emerged. With the internet and mobile technology expansion, fintech companies have filled the gaps left by traditional banks. Platforms like M-Pesa enable people to pay bills, transfer money, and purchase goods using their mobile phones, demonstrating fintech’s potential to drive financial inclusion and economic growth.Fintech operates without traditional banking infrastructure. It requires no physical branches, cards, or chequebooks—only a smartphone and telecom ecosystem. This simplicity has allowed fintechs to thrive in regions with limited banking infrastructure. In Kenya, for example, M-Pesa expanded financial access from 26% to 83% of the population between 2006 and 2021, showcasing the potential for inclusive financial systems. Fintech also supports small and medium-sized enterprises (SMEs), which are crucial to developing economies but often face barriers to traditional financial services. Fintech platforms give SMEs access to loans, enabling them to expand operations and contribute to economic growth. Digital-only banks like South Africa’s TymeBank and Nigeria’s Kuda offer services at a fraction of traditional banking costs, democratising financial access and empowering entrepreneurs.Fortunately, or not, the COVID-19 pandemic’s strain on the economy accelerated the adoption of digital banking. African banks now collaborate with fintech startups to offer a broader range of financial products, catering to a tech-savvy population. With mobile phones accounting for about 75% of all online traffic in Africa, digital platforms are increasingly designed for mobile users, driving innovation and expanding access to financial services.Fitech is also promoting gender equality by providing women with access to financial services. Women, who often manage SMEs and agricultural activities, face significant barriers in traditional banking. In Rwanda, the

recent FinScope report highlights this progress, showing that women’s access to formal and non-formal financial services (including fintechs) has increased significantly from 73% in 2020 to 90% in 2024. This demonstrates the pivotal role of fintech in bridging the gender gap and empowering women economically.Fintech apps used by cooperatives and mutual support groups empower women by facilitating access to loans and other financial services. Studies show that companies with more female employees perform better financially, underscoring the importance of gender-inclusive financial systems. In Africa, where 40% of SMEs are female-owned, fintech is closing the funding gap and enabling women to contribute more effectively to economic growth.The inaugural Inclusive FinTech Forum in Kigali, a global platform for financial inclusion and fintech co-organised by the National Bank of Rwanda, Elevandi, and the Kigali International Finance Centre, further showed fintech’s transformative potential in Africa. With nearly 3,000 attendees from 65 countries, the forum emphasised shared experiences and best practices driving financial inclusion and sustainable development. The presence of high-profile participants, including Rwanda’s President Paul Kagame, underscored the significance of fintech in shaping Africa’s economic future.Additionally, the Africa Continental Free Trade Area (ACFTA) promises to boost intra-African trade, and the fintech-based Pan-African Payment and Settlement System (PAPSS) is a significant step in this direction. Harmonising national payment systems will facilitate seamless trade transactions across the continent, enhancing economic integration and growth.Fintech also reduces technological inequality between advanced and developing nations. A McKinsey study shows that between 2020 and 2021, nearly half of Africa’s 5,200 tech startups were involved in disrupting or augmenting traditional financial services. Fintech is expected to grow by 19% annually through 2025, reaching a valuation of $150 billion. This growth is driven by increasing smartphone ownership, declining internet costs, expanded network coverage, and Africa’s young population, which is well-versed in the digital world.Fintech represents a significant milestone in the history of financial technology. By breaking down traditional barriers and opening financial services to the masses, fintech can drive unprecedented economic growth and prosperity in Africa and other emerging markets. Embracing this digital revolution offers a more equitable and prosperous future for all.—Leila is the FinTech Lead at Rwanda Finance Limited. She is a business development and partnerships professional with 10 years of work experience in Rwanda and across Africa.Digital Products Get the best African tech newsletters in your inbox“Fintech is revolutionising African finance, from mobile money services lifting households out of poverty to digital banks democratising access for millions…”Source Link: https://techcabal.com/2024/08/05/fintech-the-digital-key-to-spotting-new-markets/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/08/g4e4724507474ebdc2611c8337391f890ea6f13df50f5a3696c15e15cc24e5ca4d7a98d9d9ca897682609788d73b0367b03d.jpeg BLOGGER - #GLOBAL This article was contributed to TechCabal by Leila Rwagasana. Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic … Read More

[onlinecompanynews]

Fintech: The digital key to spotting new markets - Journal Important Online https://www.merchant-business.com/fintech-the-digital-key-to-spotting-new-markets/?feed_id=156474&_unique_id=66b198d02d59c This article was contributed to Tec... BLOGGER - #GLOBAL This article was contributed to TechCabal by Leila Rwagasana.Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic growth and societal development. Today’s digital technology ought to make financial services even more inclusive.A prime example of fintech’s transformative power is M-Pesa in Kenya. Launched in 2007 as a mobile money service for airtime transfer, M-Pesa quickly expanded into a comprehensive financial tool. By 2021, M-Pesa’s transactions accounted for 87% of Kenya’s GDP, lifting 2% of households above the poverty line.The evolution of financial tools has always aimed to facilitate the exchange of goods and services, stimulating financial inclusivity and furthering societal development. Societies with advanced financial systems tend to prosper, as more inclusive financial transactions lead to higher incomes, increased demand, and innovation. Conversely, societies with restricted financial access stagnate and struggle to achieve economic growth. This pattern is particularly evident in emerging and developing countries, where financial inclusion remains a critical challenge. Post-independence, Africa’s financial systems remained unchanged, still designed to serve colonial interests. This left most of the population excluded from mainstream financial services. By the 1970s, about 90% of Africans were unbanked, and today, 52% remain without banking access, conducting 90% of transactions in cash. This exclusion hinders economic growth and development.Fintech, however, can turn things around. After the 2008 financial crisis, traditional banks became more conservative, and digital innovations emerged. With the internet and mobile technology expansion, fintech companies have filled the gaps left by traditional banks. Platforms like M-Pesa enable people to pay bills, transfer money, and purchase goods using their mobile phones, demonstrating fintech’s potential to drive financial inclusion and economic growth.Fintech operates without traditional banking infrastructure. It requires no physical branches, cards, or chequebooks—only a smartphone and telecom ecosystem. This simplicity has allowed fintechs to thrive in regions with limited banking infrastructure. In Kenya, for example, M-Pesa expanded financial access from 26% to 83% of the population between 2006 and 2021, showcasing the potential for inclusive financial systems. Fintech also supports small and medium-sized enterprises (SMEs), which are crucial to developing economies but often face barriers to traditional financial services. Fintech platforms give SMEs access to loans, enabling them to expand operations and contribute to economic growth. Digital-only banks like South Africa’s TymeBank and Nigeria’s Kuda offer services at a fraction of traditional banking costs, democratising financial access and empowering entrepreneurs.Fortunately, or not, the COVID-19 pandemic’s strain on the economy accelerated the adoption of digital banking. African banks now collaborate with fintech startups to offer a broader range of financial products, catering to a tech-savvy population. With mobile phones accounting for about 75% of all online traffic in Africa, digital platforms are increasingly designed for mobile users, driving innovation and expanding access to financial services.Fitech is also promoting gender equality by providing women with access to financial services. Women, who often manage SMEs and agricultural activities, face significant barriers in traditional banking.

In Rwanda, the recent FinScope report highlights this progress, showing that women’s access to formal and non-formal financial services (including fintechs) has increased significantly from 73% in 2020 to 90% in 2024. This demonstrates the pivotal role of fintech in bridging the gender gap and empowering women economically.Fintech apps used by cooperatives and mutual support groups empower women by facilitating access to loans and other financial services. Studies show that companies with more female employees perform better financially, underscoring the importance of gender-inclusive financial systems. In Africa, where 40% of SMEs are female-owned, fintech is closing the funding gap and enabling women to contribute more effectively to economic growth.The inaugural Inclusive FinTech Forum in Kigali, a global platform for financial inclusion and fintech co-organised by the National Bank of Rwanda, Elevandi, and the Kigali International Finance Centre, further showed fintech’s transformative potential in Africa. With nearly 3,000 attendees from 65 countries, the forum emphasised shared experiences and best practices driving financial inclusion and sustainable development. The presence of high-profile participants, including Rwanda’s President Paul Kagame, underscored the significance of fintech in shaping Africa’s economic future.Additionally, the Africa Continental Free Trade Area (ACFTA) promises to boost intra-African trade, and the fintech-based Pan-African Payment and Settlement System (PAPSS) is a significant step in this direction. Harmonising national payment systems will facilitate seamless trade transactions across the continent, enhancing economic integration and growth.Fintech also reduces technological inequality between advanced and developing nations. A McKinsey study shows that between 2020 and 2021, nearly half of Africa’s 5,200 tech startups were involved in disrupting or augmenting traditional financial services. Fintech is expected to grow by 19% annually through 2025, reaching a valuation of $150 billion. This growth is driven by increasing smartphone ownership, declining internet costs, expanded network coverage, and Africa’s young population, which is well-versed in the digital world.Fintech represents a significant milestone in the history of financial technology. By breaking down traditional barriers and opening financial services to the masses, fintech can drive unprecedented economic growth and prosperity in Africa and other emerging markets. Embracing this digital revolution offers a more equitable and prosperous future for all.—Leila is the FinTech Lead at Rwanda Finance Limited. She is a business development and partnerships professional with 10 years of work experience in Rwanda and across Africa.Digital Products Get the best African tech newsletters in your inbox“Fintech is revolutionising African finance, from mobile money services lifting households out of poverty to digital banks democratising access for millions…”Source Link: https://techcabal.com/2024/08/05/fintech-the-digital-key-to-spotting-new-markets/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/08/g4e4724507474ebdc2611c8337391f890ea6f13df50f5a3696c15e15cc24e5ca4d7a98d9d9ca897682609788d73b0367b03d.jpeg #GLOBAL - BLOGGER This article was contributed to TechCabal by Leila Rwagasana. Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic … Read More

[formidablecompanynews]

Fintech: The digital key to spotting new markets - Journal Important Online https://www.merchant-business.com/fintech-the-digital-key-to-spotting-new-markets/?feed_id=156472&_unique_id=66b198ce518d5 #GLOBAL - BLOGGER BLOGGER This article was contributed to TechCabal by Leila Rwagasana.Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic growth and societal development. Today’s digital technology ought to make financial services even more inclusive.A prime example of fintech’s transformative power is M-Pesa in Kenya. Launched in 2007 as a mobile money service for airtime transfer, M-Pesa quickly expanded into a comprehensive financial tool. By 2021, M-Pesa’s transactions accounted for 87% of Kenya’s GDP, lifting 2% of households above the poverty line.The evolution of financial tools has always aimed to facilitate the exchange of goods and services, stimulating financial inclusivity and furthering societal development. Societies with advanced financial systems tend to prosper, as more inclusive financial transactions lead to higher incomes, increased demand, and innovation. Conversely, societies with restricted financial access stagnate and struggle to achieve economic growth. This pattern is particularly evident in emerging and developing countries, where financial inclusion remains a critical challenge. Post-independence, Africa’s financial systems remained unchanged, still designed to serve colonial interests. This left most of the population excluded from mainstream financial services. By the 1970s, about 90% of Africans were unbanked, and today, 52% remain without banking access, conducting 90% of transactions in cash. This exclusion hinders economic growth and development.Fintech, however, can turn things around. After the 2008 financial crisis, traditional banks became more conservative, and digital innovations emerged. With the internet and mobile technology expansion, fintech companies have filled the gaps left by traditional banks. Platforms like M-Pesa enable people to pay bills, transfer money, and purchase goods using their mobile phones, demonstrating fintech’s potential to drive financial inclusion and economic growth.Fintech operates without traditional banking infrastructure. It requires no physical branches, cards, or chequebooks—only a smartphone and telecom ecosystem. This simplicity has allowed fintechs to thrive in regions with limited banking infrastructure. In Kenya, for example, M-Pesa expanded financial access from 26% to 83% of the population between 2006 and 2021, showcasing the potential for inclusive financial systems. Fintech also supports small and medium-sized enterprises (SMEs), which are crucial to developing economies but often face barriers to traditional financial services. Fintech platforms give SMEs access to loans, enabling them to expand operations and contribute to economic growth. Digital-only banks like South Africa’s TymeBank and Nigeria’s Kuda offer services at a fraction of traditional banking costs, democratising financial access and empowering entrepreneurs.Fortunately, or not, the COVID-19 pandemic’s strain on the economy accelerated the adoption of digital banking. African banks now collaborate with fintech startups to offer a broader range of financial products, catering to a tech-savvy population. With mobile phones accounting for about 75% of all online traffic in Africa, digital platforms are increasingly designed for mobile users, driving innovation and expanding access to financial services.Fitech is also promoting gender equality by providing women with access to financial services. Women, who often manage SMEs and agricultural activities, face significant barriers in traditional banking.

In Rwanda, the recent FinScope report highlights this progress, showing that women’s access to formal and non-formal financial services (including fintechs) has increased significantly from 73% in 2020 to 90% in 2024. This demonstrates the pivotal role of fintech in bridging the gender gap and empowering women economically.Fintech apps used by cooperatives and mutual support groups empower women by facilitating access to loans and other financial services. Studies show that companies with more female employees perform better financially, underscoring the importance of gender-inclusive financial systems. In Africa, where 40% of SMEs are female-owned, fintech is closing the funding gap and enabling women to contribute more effectively to economic growth.The inaugural Inclusive FinTech Forum in Kigali, a global platform for financial inclusion and fintech co-organised by the National Bank of Rwanda, Elevandi, and the Kigali International Finance Centre, further showed fintech’s transformative potential in Africa. With nearly 3,000 attendees from 65 countries, the forum emphasised shared experiences and best practices driving financial inclusion and sustainable development. The presence of high-profile participants, including Rwanda’s President Paul Kagame, underscored the significance of fintech in shaping Africa’s economic future.Additionally, the Africa Continental Free Trade Area (ACFTA) promises to boost intra-African trade, and the fintech-based Pan-African Payment and Settlement System (PAPSS) is a significant step in this direction. Harmonising national payment systems will facilitate seamless trade transactions across the continent, enhancing economic integration and growth.Fintech also reduces technological inequality between advanced and developing nations. A McKinsey study shows that between 2020 and 2021, nearly half of Africa’s 5,200 tech startups were involved in disrupting or augmenting traditional financial services. Fintech is expected to grow by 19% annually through 2025, reaching a valuation of $150 billion. This growth is driven by increasing smartphone ownership, declining internet costs, expanded network coverage, and Africa’s young population, which is well-versed in the digital world.Fintech represents a significant milestone in the history of financial technology. By breaking down traditional barriers and opening financial services to the masses, fintech can drive unprecedented economic growth and prosperity in Africa and other emerging markets. Embracing this digital revolution offers a more equitable and prosperous future for all.—Leila is the FinTech Lead at Rwanda Finance Limited. She is a business development and partnerships professional with 10 years of work experience in Rwanda and across Africa.Digital Products Get the best African tech newsletters in your inbox“Fintech is revolutionising African finance, from mobile money services lifting households out of poverty to digital banks democratising access for millions…”Source Link: https://techcabal.com/2024/08/05/fintech-the-digital-key-to-spotting-new-markets/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/08/g4e4724507474ebdc2611c8337391f890ea6f13df50f5a3696c15e15cc24e5ca4d7a98d9d9ca897682609788d73b0367b03d.jpeg This article was contributed to TechCabal by Leila Rwagasana. Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic … Read More

[smartcompanynewsweb]

Fintech: The digital key to spotting new markets - Journal Important Online - #GLOBAL https://www.merchant-business.com/fintech-the-digital-key-to-spotting-new-markets/?feed_id=156471&_unique_id=66b198cd5e8db This article was contributed to TechCabal by Leila Rwagasana.Fintech, the fusion of finance and technology, is revolutionising financial services globally, particularly in emerging and developing countries. From ancient Greece’s minted coins to Persia’s invention of cheques and, more recently, the deployment of ATMs and digital transactions, financial tools have always aimed to facilitate economic growth and societal development. Today’s digital technology ought to make financial services even more inclusive.A prime example of fintech’s transformative power is M-Pesa in Kenya. Launched in 2007 as a mobile money service for airtime transfer, M-Pesa quickly expanded into a comprehensive financial tool. By 2021, M-Pesa’s transactions accounted for 87% of Kenya’s GDP, lifting 2% of households above the poverty line.The evolution of financial tools has always aimed to facilitate the exchange of goods and services, stimulating financial inclusivity and furthering societal development. Societies with advanced financial systems tend to prosper, as more inclusive financial transactions lead to higher incomes, increased demand, and innovation. Conversely, societies with restricted financial access stagnate and struggle to achieve economic growth. This pattern is particularly evident in emerging and developing countries, where financial inclusion remains a critical challenge. Post-independence, Africa’s financial systems remained unchanged, still designed to serve colonial interests. This left most of the population excluded from mainstream financial services. By the 1970s, about 90% of Africans were unbanked, and today, 52% remain without banking access, conducting 90% of transactions in cash. This exclusion hinders economic growth and development.Fintech, however, can turn things around. After the 2008 financial crisis, traditional banks became more conservative, and digital innovations emerged. With the internet and mobile technology expansion, fintech companies have filled the gaps left by traditional banks. Platforms like M-Pesa enable people to pay bills, transfer money, and purchase goods using their mobile phones, demonstrating fintech’s potential to drive financial inclusion and economic growth.Fintech operates without traditional banking infrastructure. It requires no physical branches, cards, or chequebooks—only a smartphone and telecom ecosystem. This simplicity has allowed fintechs to thrive in regions with limited banking infrastructure. In Kenya, for example, M-Pesa expanded financial access from 26% to 83% of the population between 2006 and 2021, showcasing the potential for inclusive financial systems. Fintech also supports small and medium-sized enterprises (SMEs), which are crucial to developing economies but often face barriers to traditional financial services. Fintech platforms give SMEs access to loans, enabling them to expand operations and contribute to economic growth. Digital-only banks like South Africa’s TymeBank and Nigeria’s Kuda offer services at a fraction of traditional banking costs, democratising financial access and empowering entrepreneurs.Fortunately, or not, the COVID-19 pandemic’s strain on the economy accelerated the adoption of digital banking. African banks now collaborate with fintech startups to offer a broader range of financial products, catering to a tech-savvy population. With mobile phones accounting for about 75% of all online traffic in Africa, digital platforms are increasingly designed for mobile users, driving innovation and expanding access to financial services.Fitech is also promoting gender equality by providing women with access to financial services. Women, who often manage SMEs and agricultural activities, face significant barriers in traditional banking. In Rwanda, the

recent FinScope report highlights this progress, showing that women’s access to formal and non-formal financial services (including fintechs) has increased significantly from 73% in 2020 to 90% in 2024. This demonstrates the pivotal role of fintech in bridging the gender gap and empowering women economically.Fintech apps used by cooperatives and mutual support groups empower women by facilitating access to loans and other financial services. Studies show that companies with more female employees perform better financially, underscoring the importance of gender-inclusive financial systems. In Africa, where 40% of SMEs are female-owned, fintech is closing the funding gap and enabling women to contribute more effectively to economic growth.The inaugural Inclusive FinTech Forum in Kigali, a global platform for financial inclusion and fintech co-organised by the National Bank of Rwanda, Elevandi, and the Kigali International Finance Centre, further showed fintech’s transformative potential in Africa. With nearly 3,000 attendees from 65 countries, the forum emphasised shared experiences and best practices driving financial inclusion and sustainable development. The presence of high-profile participants, including Rwanda’s President Paul Kagame, underscored the significance of fintech in shaping Africa’s economic future.Additionally, the Africa Continental Free Trade Area (ACFTA) promises to boost intra-African trade, and the fintech-based Pan-African Payment and Settlement System (PAPSS) is a significant step in this direction. Harmonising national payment systems will facilitate seamless trade transactions across the continent, enhancing economic integration and growth.Fintech also reduces technological inequality between advanced and developing nations. A McKinsey study shows that between 2020 and 2021, nearly half of Africa’s 5,200 tech startups were involved in disrupting or augmenting traditional financial services. Fintech is expected to grow by 19% annually through 2025, reaching a valuation of $150 billion. This growth is driven by increasing smartphone ownership, declining internet costs, expanded network coverage, and Africa’s young population, which is well-versed in the digital world.Fintech represents a significant milestone in the history of financial technology. By breaking down traditional barriers and opening financial services to the masses, fintech can drive unprecedented economic growth and prosperity in Africa and other emerging markets. Embracing this digital revolution offers a more equitable and prosperous future for all.—Leila is the FinTech Lead at Rwanda Finance Limited. She is a business development and partnerships professional with 10 years of work experience in Rwanda and across Africa.Digital Products Get the best African tech newsletters in your inbox“Fintech is revolutionising African finance, from mobile money services lifting households out of poverty to digital banks democratising access for millions…”Source Link: https://techcabal.com/2024/08/05/fintech-the-digital-key-to-spotting-new-markets/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/08/g4e4724507474ebdc2611c8337391f890ea6f13df50f5a3696c15e15cc24e5ca4d7a98d9d9ca897682609788d73b0367b03d.jpeg BLOGGER - #GLOBAL

[lagmennet]

China & 26 African Countries Boost Digital Relations

China and 26 African countries have committed to strengthen their relations and increase digital innovation. The Chinese Ministry of Industry and Information Technology hosted African participants at the Forum on China-Africa Digital Cooperation in Beijing on Monday (July 29). Senegal’s telecoms minister is looking forward to the developments that will take place during the next three…

[blueweave]

South Africa Conversational AI Market size at USD 210.0 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects South Africa Conversational AI Market size to expand at a CAGR of 17.9% reaching a value of USD 620.5 million by 2030. The rising need for chatbots to enhance customer service and save costs, as well as the increasing integration of computer vision and speech recognition technologies, are key driving factors for South African Conversational AI Market during the period in analysis.

Opportunity - Rising adoption of conversational AI across industries

South Africa Conversational AI Market consists of various industry segments including BFSI, retail & e-commerce, healthcare & life sciences, travel & hospitality, telecom, and media & entertainment, based on end user. The retail & e-commerce segment is witnessing the highest adoption rate of conversational AI. The sector leverages conversational AI to offer round-the-clock customer service through chatbots and virtual assistants. Conversational AI responds to frequently asked questions, product & order details, and other support that helps the retail & e-commerce sector achieve higher efficiency and increased customer satisfaction.

Sample Request @ https://www.blueweaveconsulting.com/report/south-africa-conversational-ai-market/report-sample