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Kenyan president proposes tax hike on money transfer services
Kenya’s biggest mobile phone operator Safaricom said in June it is opposed to a proposed tax rise on mobile phone-based transfers, arguing that it would likely mostly hurt the poor, most of whom do not have bank accounts and rely on mobile transfer services such as Safaricom’s M-Pesa.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Africa’s Jumo raises $52M led by Goldman to bring its fintech services to Asia
Jumo launched in 2014 and it specializes in social impact financial products. That means loans and saving options for those who sit outside of the existing banking system, and particularly small businesses. it claims to have helped nine million consumers across its six markets in Africa and originated over $700 million in loans.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, venture capital
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Press release: ICMIF and CIC launch new project to cover over 250,000 Kenyan farmers with livestock microinsurance
Tom Gitogo, Group CEO, CIC confirms the proposed impact of the project: “Over the next five years, we plan to issue over 250,000 livestock microinsurance policies to previously uninsured low-income farmers, equating to 500,000 cows insured. CIC will scale up our livestock microinsurance product by partnering with dairy cooperative associations as part of a holistic approach to improving the lives and livelihoods of low-income farmers and their families”.
- Categories
- Agriculture
- Region
- Sub-Saharan Africa
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Press release: MoneyGram Launches Money Transfer Service to all Mobile Wallets in Ghana
"This is an important milestone for MoneyGram in Ghana as we're now offering real-time, seamless service to our customers and giving them more choices about how to receive their funds – at a physical location, directly to a bank account or a mobile wallet," said Grant Lines, MoneyGram's chief revenue officer. "Giving consumers the flexibility to choose between digital and cash pick-up is, and will continue to be, a competitive advantage for the company."
- Source
- Press release
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Sisu Global Health raises $1.2 million, launches Hemafuse sales
Hemafuse is the first product to be launched from the company’s portfolio. With the device, Sisu is looking to address a 50 percent shortage of blood needed to perform surgery in Africa.
- Categories
- Health Care
- Region
- Sub-Saharan Africa
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The small study in Rwanda that could change the way the US does foreign aid
Development aid typically takes the form of in-kind goods and services: vaccines, medicine, education, housing, food parcels, etc. But giving out goods and services can be tricky and costly, from a logistical perspective, and runs the risk of giving people things they don’t want or need.
- Region
- Sub-Saharan Africa
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Zambians, Wary of Taxpayer ID Rule, Opt for Mobile Money Rather Than Banks
Zambia’s government and its banks insist the country’s new taxpayer identification numbers aren’t used to collect additional taxes. But the public’s suspicions about this ID requirement have driven many locals to favor digital transactions, now a booming business.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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World Bank evaluates Somalia’s vibrant mobile money market
Somalia’s economy is projected to grow at an annual rate of 3-4%, according to the third Somalia Economic Update compiled by the World Bank.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital finance, fintech
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