XTransfer, Ecobank to assist African SMEs handle cross-border payments

The partnership will eliminate the need for complex API integrations, reducing waiting times for cross-border payments.

The judges recognised three fintechs whose solutions had a lasting impact, according to Ecobank.

Early-stage and mature fintech businesses can now apply to compete for a top prize of $50 000.

The fintech beat off competition from over 1,400 other entrants to claim the cash reward of $50,000.

Eight African finalists have been selected from nearly 1,500 entrants, from across 64 countries.

Kenya is transitioning from the National Integrated Identity Management System, generally known as Huduma Namba (service number).

Applications are now open to fintechs and developers from all African countries as well as global Africa-centred fintechs.

Kenya presented its budget for the 2023/2024 financial year, allocating $109.6 million to fund key initiatives in the ICT sector.

The Kenyan president says his government has put in place ‘robust measures’ to ensure successful implementation of the country’s digital economy.

The App enables users to open a bank account via their mobile phone in less than four minutes, send money, pay bills and buy airtime.

Company plans to expand partnerships with local, regional, and multinational FMCG companies, telcos, banks, creative agencies, and development institutions.