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African Brands To Honour Fintechs

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African Brands, a leading brand growth promoter, is set to recognize the immense contributions of financial technology firms to financial inclusion in Africa at the fifth edition of the Africa Financial Technology Congress.

Themed “Harnessing the Power of Fintech to Accelerate Financial Inclusion in Emerging Markets,” the event is scheduled to take place on July 31, 2024, in Lagos.

According to the organisers of the event, the African fintech space has experienced tremendous growth over the past decade, with over 1400 active fintech brands across the continent.

The drivers of this growth include favorable demographics, high mobile phone access, and Africa’s generally poor level of internet financial inclusion.

Over the last 15 years, Africa’s development outlook has improved significantly, driven primarily by the fintech revolution. The African Financial Technology Congress 2024 was created to share more insights on the progress of Africa’s fintech revolution.

The congress will bring together senior representatives from banks, government, investors, FIS, card providers, payment services platforms, blockchain executives, and solutions providers to brainstorm solutions to the industry’s key challenges and opportunities.

The event will feature an award ceremony to honour outstanding fintech brands that have exceptionally performed well in their deliverables.

AFTC is founded on the idea that fintech can unleash unprecedented economic growth in Africa, but more collaboration and ecosystem for stakeholders are needed.

The recognition by African Brands is a testament to the growing importance of fintech in Africa’s financial landscape.

In recent years, fintech has made significant inroads into the market, with estimated revenues of around $4 billion to $6 billion in 2020 and average penetration levels of between 3 and 5 percent, excluding South Africa.

The growth of fintech in Africa has been described as a “fintech eruption,” with local and international investors taking notice.

Despite a slow down in funding in line with global trends, fintech in Africa is expected to experience significant growth and value creation in the coming years.

Cash is still used in around 90 percent of transactions in Africa, which means that fintech revenues have huge potential for growth.

If the sector overall can reach similar levels of penetration to those seen in Kenya, a country with one of the highest levels of fintech penetration in the world, African fintech revenues could reach eight times their current value by k2025.

The African financial services market could grow at about 10 percent per annum, reaching about $230 billion in revenues by 2025.

As the fastest-growing start-up industry in Africa, the success of fintech companies is being fueled by several trends, including increasing smartphone ownership, declining internet costs, and expanded network coverage, as well as a young, fast-growing, and rapidly urbanizing population.

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U.S. Air Travel in Crisis as 13,000 Air Traffic Controllers Work Without Pay Amid Government Shutdown

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U.S. Air Travel in Crisis as 13,000 Air Traffic Controllers Work Without Pay Amid Government Shutdown

 

The United States is facing a deepening aviation crisis as nearly 13,000 air traffic controllers continue to work without pay for over a month due to the prolonged federal government shutdown, the Federal Aviation Administration (FAA) has said.

 

The shutdown, now entering its second month, has caused severe disruptions across the country’s air transport system, grounding hundreds of flights and leaving thousands of passengers stranded.

 

On Sunday morning, the FAA issued a ground stop at Newark Liberty International Airport, one of New York’s busiest air hubs, with average delays stretching beyond three hours.

 

Officials warned that disruptions could last into Monday as staff shortages cripple flight operations.

 

At least half of America’s 30 major airports are grappling with critical manpower shortages. The U.S. Transport Secretary, Sean Duffy, confirmed that more flight cancellations are imminent to “ensure public safety.”

 

“Flights will be cancelled across national airspace to make sure people are safe,” Duffy said during a television interview on Sunday.

 

Air traffic controllers, like other essential federal workers, have been compelled to remain on duty despite not receiving pay.

 

They are among thousands affected by the funding deadlock between the Republican-controlled Congress and the Democratic-led Senate.

 

The FAA, in a statement, appealed to lawmakers to end the shutdown and allow workers to receive their wages, warning that the current situation could trigger further operational breakdowns.

 

“The shortage means we have had to reduce the flow of air traffic to maintain safety,” the agency stated. “This may result in delays or cancellations.”

 

According to flight-tracking platform FlightAware, nearly 4,500 flights across the U.S. were delayed and more than 500 cancelled on Saturday alone.

 

In New York, the nation’s busiest airspace, about 80% of air traffic controllers were absent heading into the weekend, the FAA said.

 

The resulting gridlock has left airlines scrambling to manage schedules and passengers stranded in terminals.

 

Secretary Duffy acknowledged the growing strain on aviation workers, noting that many controllers were under “a great deal of stress” as they try to balance their duties and family responsibilities without pay.

 

“They don’t make a lot of money,” he said.

 

“Some of them are the only breadwinners in their households. They’re being forced to choose between going to work without a paycheque or finding side jobs just to put food on the table.”

 

The shutdown stems from a budget impasse in Washington.

 

A Republican-backed funding bill has failed more than a dozen times to pass the Senate, while Democrats have insisted on conditions to protect social welfare programmes.

 

They are demanding an extension of health insurance tax credits and a reversal of President Donald Trump’s cuts to Medicaid, which supports millions of low-income, elderly, and disabled Americans.

 

Meanwhile, Trump has accused Democrats of “holding the government hostage for political gain,” while opposition lawmakers blame the administration’s intransigence for the crisis affecting federal workers and public services.

 

As the shutdown drags on, pressure is mounting on both sides of the political divide to reach a compromise.

 

Labour unions and aviation experts have warned that prolonged staff shortages could compromise safety and lead to a cascading effect on the global aviation network.

 

For now, the FAA insists it will maintain operations under reduced capacity — but warns that the situation is unsustainable.

 

“The safety of the travelling public remains our top priority,” the agency said. “But our workforce must be supported. America’s airspace cannot run on goodwill forever.”

 

 

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Gold Rush Chaos Rocks Northwestern Zambia

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Gold Rush Chaos Rocks Northwestern Zambia

 

A sudden gold rush in northwestern Zambia has degenerated into violence as thousands of fortune seekers stormed the region following viral social media claims that the precious metal could be easily found beneath the surface.

 

The unverified reports, which spread rapidly earlier this year, triggered a massive influx of people from different parts of Zambia and neighbouring countries, overwhelming local communities and sparking tension with security forces.

 

According to reports, hundreds of police officers deployed to the area to curb illegal mining activities were confronted by hostile miners.

 

Some officers were also accused of collecting bribes from the illegal operators, further fuelling public outrage and mistrust.

 

In a swift move to restore order, a delegation of senior government officials, including the Minister of Defence and the Minister of Home Affairs, visited the affected communities to assess the situation and engage with local leaders.

 

A government statement described the unrest as “unacceptable” and warned against spreading false information capable of inciting violence.

 

Authorities also assured residents of their commitment to ensuring peace and protecting legitimate mining operations.

 

Officials said the chaos was largely driven by misleading social media posts suggesting that gold deposits were easily accessible in the area.

 

The posts prompted thousands to abandon their livelihoods in search of quick wealth, leading to illegal mining and lawlessness.

 

Experts have warned that such misinformation can have devastating consequences, including environmental destruction and loss of lives.

 

They also noted that the growing trend of unregulated artisanal mining across Zambia poses a serious challenge to sustainable development.

 

Zambia has witnessed several gold rush incidents in recent years, driven by rising global demand for the commodity and limited economic opportunities in rural communities.

 

Analysts say the latest unrest reiterates the need for the government to strengthen control over the mining sector, improve public awareness, and create safer opportunities for artisanal miners within a regulated framework.

 

Authorities have since intensified security presence in the region and appealed to residents to cooperate with law enforcement agencies to restore peace and normalcy.

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U.S. Yields to Pressure, Drops Mali from Visa Bond List

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Trump Revamps US-Africa Relationship

U.S. Yields to Pressure, Drops Mali from Visa Bond List

 

The United States has quietly withdrawn Mali from its controversial Visa Bond Pilot Programme, ending weeks of diplomatic tension with the West African nation just days before the policy was due to take effect.

 

In an update released on October 23, 2025, the U.S. Department of State confirmed that only six African countries — Mauritania, São Tomé and Príncipe, Tanzania, The Gambia, Malawi, and Zambia, remain subject to the visa-bond requirement, with implementation dates ranging from August to October 2025.

 

Mali, which was initially included in the October 8 listing, was noticeably omitted from the revised roster, a move interpreted by observers as a diplomatic backtrack following Bamako’s strong response.

 

According to the State Department, the initiative is backed by Section 221(g)(3) of the U.S. Immigration and Nationality Act (INA) and the Temporary Final Rule governing the pilot scheme.

 

It said the decision was informed by data from the Department of Homeland Security on B-1/B-2 visa overstay rates among nationals of selected countries.

 

The visa-bond policy, which empowers U.S. consular officers to demand a refundable bond of up to $15,000 from certain visa applicants to guarantee their return, had sparked immediate outrage in Bamako.

 

Malian authorities denounced the measure as unfair and discriminatory, arguing that it singled out their citizens without justifiable cause.

 

In a rare show of diplomatic defiance, the Malian government responded by introducing a reciprocal visa-bond rule targeting U.S. travellers.

 

That tit-for-tat decision appeared to have forced Washington’s hand. With the potential for a full-blown diplomatic rift looming, the U.S. eventually removed Mali from the list, easing tensions between the two countries.

 

Analysts say the U.S. retreat underscores Washington’s desire to avoid deepening hostilities with Mali, which in recent years has redefined its foreign alliances and taken a more assertive stance in global diplomacy.

 

Bamako’s firm response, they argue, signalled its readiness to confront what it perceives as unilateral or prejudicial policy moves.

 

By stepping back, the U.S. has effectively prevented a visa-related dispute from escalating into a broader diplomatic impasse, even as other African countries remain under the visa-bond scheme.

 

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