According to a recent GSMA report, Sub-Saharan Africa is the enduring epicenter of mobile money, adding over 50 million registered accounts in 2019.

The huge surge is attributed to a government measure instituted to curb COVID-19 spread by encouraging the use of mobile money payments.

The partnership enables Airtel Money’s 19 million customers to receive MoneyGram transfers directly into their mobile wallets from around the world.

The decision of the National Bank of Ethiopia followed the chronic foreign currency shortage the country has been facing for many years.

Through a network of 23 branches and 63 active agents across the country, FINCA Malawi serves more than 70,000 clients offering individual and group loans, savings and insurance products specifically designed for low-income entrepreneurs.

Experts have called for the restructuring of loan facilities in Nigeria, to alleviate the adverse effects of some government policies on women.

Airtel Africa, a telecommunications and mobile money services company, is scaling up its operations with the help of WorldRemit, a digital money transfer service provider, to broaden its instant money transfer services across Africa.

The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.

Microfinance startup Lupiya has received an investment of $1 million from a US Venture Capital fund Enygma Ventures.

Brighter Investment Investor Relations Manager Belinda Kuglenu argues that although school closures, rising unemployment rates and falling wages may result in delayed distributions to investors, the outlook for "long-term returns remain strong."