MTN's $5.2bn capital paves way for fintech future

The parliament noted that while mobile money has positively transformed the economy, fraudulent behaviour undermines this progress and puts businesses and consumers at risk.

This evolution is already driving more institutional participation and long-term investment, but it also raises the standards for compliance, governance, and consumer safeguards.

The new service particularly targets  small businesses, enabling them to have a cost-effective way to reach customers and suppliers across the border.

The telco said the initiative makes it the first mobile money provider in Zambia to offer direct wallet-to-bank international transfers into key global markets.

Cairo-based fintech NowPay has entered Saudi Arabia through a $20 million joint venture with Tas’heel, marking a major milestone in its regional expansion.

The Central Bank has upgraded the operating licenses of many prominent fintech and microfinance institutions, including OPay, Moniepoint, and Kuda Bank, granting them national status.

The partnership, according to both companies, facilitates an integrated payment ecosystem, enabling merchants to provide enhanced end-user experience.

Durable success requires legislative tightening paired with practical guidance and support, prioritising real-world effectiveness over formal compliance, says Sholane Sathu, founder of Navigate Compliance.

The Central Bank proposed that banks partner with fintechs with large agent networks, such as Moniepoint, OPay, and Kuda, which are better positioned to drive inclusion.

The company says in order to boost business growth in Africa, we must make it secure, accessible, and affordable for businesses to accept all types of regulated payment methods, including stablecoin.

She will focus on enhancing the company's programme management capabilities and strengthening relationships with customers.

Five years after its acquisition by Stripe, Paystack has formed a new holding company, The Stack Group, bringing together its payments, consumer, banking and venture units as the African fintech positions itself for faster expansion beyond merchant services