Every fortnight we compile a list of important news updates and events covering the East African FINTECH, MFGTECH, CLNTECH, and AGRTECH sectors.

For a downloadable copy of Africa’s Issue #40

FINTECH

President of Tanzania urges the Central Bank to explore digital Currency use cases.
Tanzania President Samia Suluhu Hassan urged the country’s central bank to explore the role digital currencies could play in the country’s economy in a move that could see Tanzania on course to introduce greater support for digital assets.

Airtel Money completes transfer to Mobile Commerce Uganda Limited
Airtel Uganda has announced the separation of Airtel Money from its Telecom Business. Technically, the Airtel Money Business has been transferred to Airtel’s affiliate, Airtel Mobile Commerce Uganda Limited (“AMC Uganda”). The business separation complies with a new law – the National Payment Systems (NPS) Act, 2020 and the NPS Regulations.
Manoj Murali is the Managing Director at Airtel Uganda

Kenya fintech Pesapal gets CBK authorization for its payment gateway services
The Central Bank of Kenya has given Pesapal Limited to forge ahead as a Payment Service Provider (PSP) and carry out  Payment Gateway Services that are in compliance with National Payment System Act 2011 and the NPS Regulations 2014.
Mark Mwongela is the CEO at Pesapal.

Rwanda researching on digital currency
The Central Bank is studying the possibilities of issuing its own Central Bank Digital Currency in response to global trends in digital currency. A central bank digital currency (CBDC) is a digital currency that would be issued and overseen by a country’s central bank.

Rwanda researching on digital currency
The Central Bank is studying the possibilities of issuing its own Central Bank Digital Currency in response to global trends in digital currency. A central bank digital currency (CBDC) is a digital currency that would be issued and overseen by a country’s central bank.

Mastercard (MA), Zamtel Ties Up to Ease Mobile Wallet Payments
Mastercard Incorporated MA recently partnered with Zambia-based leading telecommunication company Zamtel. As part of the deal, a diversified portfolio of Mastercard products comprising Mastercard virtual payment solution, a physical debit card and an interoperable payment solution Mastercard QR will be rolled out by Zamtel.

Telecom liberalization enhances Ethiopia’s moves to digital economy.
Apart from providing world class telecom services, the involvement of multinational operators to Ethiopia’s emerging telecom business would have a paramount importance to enhance the penetration of mobile banking and accelerate the country’s journey towards digital economy,

Mobile money trumps Zambia banks
The emergence of mobile money banking services has been seen as a blessing to many low-income earners in Zambia. Some Zambians believe that banks/having bank account is for people with a lot of money.

South Africa moves ahead cautiously with proposed regulation of the crypto space
The increasing use of crypto assets, including Bitcoin, has led regulators to take steps towards bringing them under SA regulation, providing investors with protection they don’t currently have.

Bank of Uganda Launches Regulatory Sandbox Framework — One Fintech Firm Already Approved
The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement.

NDIC tackles rising fintech-induced risks in financial sector
Nigeria Deposit Insurance Corporation (NDIC) has stated that it is effectively collaborating with relevant stakeholders to manage risks arising from the growing adoption of financial technology (fintech) in the financial sector.
Ronke Sokefun is the Chairman of the Board at NDIC

After Bitcoin U-Turn, Nigeria Plans To Launch Central Bank Currency This Year
The Central Bank of Nigeria (CBN) plans to launch a digital currency pilot as soon as the end of this year. Last month, the CBN Governor, made a U-turn on Bitcoin and other cryptocurrencies by saying he will “allow” them.
Godwin Emefiele is the Governor at the Central Bank of Nigeria

Telkom launches virtual card for transacting on WhatsApp.
Telecommunication company Telkom has announced that it launched Mastercard virtual cards to be used on WhatsApp for its Telkom Pay customers enabling them to make e-commerce payments. Telkom Pay is a digital payments wallet that enables its users to make and receive payments using WhatsApp on their mobile phones.
Sipho Maseko is the CEO at Telkom Group
Suzanne Morel is the Country Manager for South Africa at Mastercard

New online market to boost small holder farmers in EAC
An online agribusiness market to help farmers in the East Africa Community sell agricultural produce has been unveiled. Agribusiness Confederation of East Africa (ACEA) has launched the online agribusiness market to help sellers in the region find markets for their green produce.

Old Mutual and SwiftVeeAgritech launch new digital solution for livestock buyers
OLD MUTUAL Insure and SwiftVee AgriTech have launched a new digital insurance solution called VeeSure to support the needs of the South African livestock buyers and production auction market.
Russel Luck is the CEO at SwiftVEE

UK-Kenya Tech Hub to support Kenyan female AgriTech entrepreneurs.
The UK-Kenya Tech Hub, in partnership with Future Females, has launched an AgriTech program to support 40 female entrepreneurs to grow their AgriTech–based Businesses. The program will focus in sustainable farming and set to contribute to small business development and gender inclusion to enhance agricultural practices in Kenya.
Sheena Raikundalia is the Director at UK-Kenya Tech Hub

SAMAC Confirms South African Aerobotics as Associate Member
Macadamia South Africa NPC, SAMAC, has confirmed South African agritech and precision farming company, Aerobotics as an associate member. SAMAC is an association of Macadamia industry role-players. With Aerobotics, farmers can monitor every crop and assess the effectiveness of interventions related to pests, diseases, soil-related challenges, and many other operational concerns in the early stages of production.
James Paterson is the CEO at Aerobotics