Safaricom ownership shifts as Vodacom buys 20% stake

According to Alwyn Pretorius of Infinitus Reporting Solutions, while AI may impact the future of financial reporting, strong fundamentals will determine who will be ready when the time comes.

According to the government, more than 84% of adults now use formal financial services, primarily banking, mobile money, and digital finance solutions.

M-PESA Global Payment aims to ease the burden of traditional banking barriers on merchants and businesses.

The Association of Digital Payment and POS operators of Nigeria said fraud across digital channels rose from $12.1 million in 2023 to $35.9 million in 2024, with POS platforms accounting for a significant share.

Finance Minister Mthuli Ncube’s 2026 budget introduces a Digital Services Withholding Tax on offshore platforms, affecting e-hailing apps, streaming services and satellite internet providers.

Backed by a globally seasoned board and deep African expertise, the group aims to double its SME customer base and ignite the continent’s next fintech revolution.

The VC has announced the final close of its debut Fund I at $17.3 million to support African founders building mass-market, tech-enabled solutions.

MTN’s Ralph Mupita, Axian’s Hassanein Hiridjee and Sand Technologies’ Fred Swaniker say Africa’s digital, financial and energy revolutions are converging to create unprecedented opportunities for investors and entrepreneurs.

Half of the funding will go toward building 300 new 4G sites, with 150 sites planned for rural areas, while the remainder will go to expanding fibre to the home and fibre to the business offerings.

MTN Group’s latest update shows strong digital growth, with data customers rising to 165.8 million and fintech revenue up 35.7%, driven by soaring transaction values and a sharp jump in MoMo users across key African markets.

Safaricom’s Ziidi Trader feature lets anyone buy Nairobi Stock Exchange-listed shares with as little as 60c (KSh100) directly from their phone.