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May 18, 2024

Welcome to Emerging Tech Trends (ETT), focusing on technologies shaping the future.

In this edition,

Saudi Arabia’s IDB plans blockchain-based financial inclusion product : The Islamic Development Bank is partnering with Ateon and SettleMint to create sharia-compliant products, aiming to promote financial inclusion in its member countries and encourage other fintech firms to incorporate Islamic finance

India’s retail CBDC transaction volumes slump : India’s digital rupee has seen a decline in consumer transactions, with around 100,000 daily at the end of last year. The Reserve Bank of India (RBI) aims to reach one million daily retail transactions using CBDC, but does not intend to compete with UPI

Mastercard Crypto Credential goes live with first P2P pilot Transactions : Mastercard Crypto Credential has launched its first peer-to-peer pilot transactions, enabling secure cross-border and domestic transfers between Latin America and Europe, void of complex blockchain addresses

Safaricom and Pezesha introduce a new Small Business Lending Program : Safaricom has partnered with digital lender Pezesha to offer credit to small business owners through the Mkopo wa Pochi product, generating $6 million in revenue between 2023 and 2024, and assessing creditworthiness through credit bureaus

Build Ghana’s financial resilience through FinTech — Expert : Ghana’s financial instability is primarily due to rising living costs and economic instability, especially in the informal sector. FinTech has improved access to savings and loan products, but challenges include rural FinTech access, technology integration, and cybersecurity threats

Other Stories of The Month 

Fintech Cadana closes $7.1m seed to accelerate remittance for African talents

Central Bank of Kenya to issue payment licences to Fintech Startups

Investors Appetite stir up as South Africa’s Fintech Boom

Binance to restrict Unauthorized Stablecoins in the EU

Tether Invests in XREX Group to Drive Financial Inclusion in Emerging Markets

TRAINING

6th Cohort Professional Certificate Training in Financial Technology(FinTech) and Innovations : From July 24-25, this training is expected to power a new group of individuals and companies in FinTech Innovations through knowledge & skills set training at the Kofi Annan ICT Centre, Accra-Ghana & Online. Click here to register

EVENTS

African Tech Ventures Unlocking UK Capital Markets and Exits : The Africa Tech Summit London brings together 300+ industry leaders, entrepreneurs, and investors to drive growth in the African tech industry,showcase Africa’s promising ventures, while offering networking and investment opportunities, despite a slowdown in investments year-over-year

OPPORTUNITY 

Applications open for 7th Ecobank Fintech Challenge : Ecobank Group, a pan-African banking group, is launching the seventh edition of its cash-prized Fintech Challenge, aiming to partner with African fintech startups which aligns with its strategic objectives, with ten finalists inducted into the Ecobank Fintech Fellowship

timbuktoo Fintech Startup Accelerator Programme: Call for Applications : The Timbuktoo Fintech Startup Accelerator Programme in Lagos, Nigeria, supports African startups in the financial services sector with mentorship, equity-free funding, and technical resources. Applicants must be African citizens, locally owned, and have a viable product

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