20 Oct African Online Payments: Connected Nigerian and Kenyan Consumers Ready to Buy and Pay Online

Paga is hoping to have more than 40m unbanked consumers using their local Nigerian payment method.  Nigeria’s population is relatively well banked as compared to other African countries. The Central Bank of Nigeria is working with MNO’s to roll out and promote financial inclusion with mobile money payment methods. Urban Nigerians are largely banked and its the rural consumers that are getting the most attention from a financial inclusion perspectiv...
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18 Oct Nigerian Retail eCommerce Driving Growth- Internet Connectedness and Online Paymentability the Catalysts

eCommerce companies like Konga, Jumia and Wakano are driving consumer demand for eCommerce products and services and as payment facilitators and collecting PSPs like African Payment Solutions make it easier to get paid online, the eCommerce economy is growing at 30%+ per annum. The retail segment has largely driven the Nigeria’s ecommerce market, and the emerging middle class of around 23% of the population is ready to shop, hungry for international brands an...
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10 Oct eCommerce and Mobile Commerce Payments in Nigeria now Include Bank Transfer

Solving financial and payment problems for Nigerians is the order of the day right now.  The government is making a move from cash to digital and online ePayment.  Economic enablement of the 180m+ Nigerian population is top of the agenda.   With oil taking a back seat, and trading, eCommerce and digital empowerment is catalysing this massive and biggest African economy.  Financial inclusion means bringing the broader Nigerian population into the...
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03 Oct Nigeria and Land of Contrast Goes Digital with ePayments, eCommerce, Online Payment

Nigeria is an exciting mix of the new and the old, cash and digital, educated and less educated, analogue and smartphone.  A country in a dynamic state of accelerated evolution, in many ways leapfrogging the developed world.  A dynamic place and time to do business. Drive down a street in Nigeria and you will meet up with people in suits walking past street vendors in rags, steel and glass modern architecture adjacent to rundown old building sites and rub...
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22 Sep Rwanda’s Government and Private Sector Cooperating to Drive ePayments and eCommerce - Mobile Alternative Payments Dominate

Rwanda is experiencing a leapfrog effect in digital commerce and eCommerce payment as a result of strong growth by MNOs.  The government and private sector are working closely to grow the digital economy.   Indicative is a recent Dot Finance conference which was attended by almost 500 fintech participants keen to hear about and catalyse the digital economy in Rwanda At the conference it was said that as a result of mobile payment methods like MTN Mobile...
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21 Sep Nigerian Online Payment Methods and Web Transactions Experiencing Good Growth

Nigeria is looking good to be out of recession in the second half of 2017 although this makes absolutely no difference to cross border eCommerce which is experiencing good growth as a result of a number of unrelated complementary economic drivers like bandwidth, financial inclusion, ability to pay, smartphone penetration, propensity to shop online In the first half of 2017, Nigerian mobile payment volumes increased more than 80% to over $1.3bn, and Web transactions...
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19 Sep Nigeria eCommerce Ripe And Ready - 180m People, 90m with Internet, 60m Formal Bank Accounts, 20m Online Payment Transactions Per Annum

The Central Bank of Nigeria (CBN) is in a race to accelerate the move from cash to card and are having success.  Formal banking is coming off a low base in countries like Uganda (6%), Tanzania (5%), and Ghana (4%).    Nigeria’s population is now around 180m people, 90m+ have active access to the internet, and up to 60m have formal bank accounts.  What a great economy for multinational eCommerce companies to do business with!  In the ...
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18 Sep African Payments: Mobile Payments - eCommerce Payments - Fintech in Africa

In Cote d’Ivoire, most school fees are made using mobile money.  As opposed to Cote d’Ivoire, Uganda and Kenya have high levels of mobile money penetration but few schools accept mobile money for payment of school fees.   Over time there will be a shift from cash to digital payment and agents will service rural areas more effectively Fintech is alive and well in Nigeria and companies like Paga, Remita and Flutterwave are reporting high volume...
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11 Sep Nigerian eCommerce Appetite For Fashion Drives Online Payment

Nigerians are mad about fashion and have a keen sense of dress which creates a real demand for fashion and clothing based multinational eCommerce companies entering the Nigerian market.   Despite the economic challenges that have faced Nigeria over the past few years, eCommerce has continued to grow at over 30% per annum and retail is at the forefront of this sustained growth. On a recent visit to Lagos, when you mention Macy’s, ears prick up and consum...
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07 Sep Kenya Payment Gateway For eCommerce: Orange Money Mobile Payment Method Discontinued In Kenya

Mobile money as an alternative payment in Kenya has been terminated and Telkom Kenya will be launching a new mobile money service.   Orange Mobile Money only reached just over $1m in transaction values in the first quarter of of 2017 of the $11bn transacted across all mobile money platforms in the same period, of which $8bn of mobile money transacting was done through M-Pesa alone. Telkom Kenya was bought out by Helios the pan-African investment group and hav...
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