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Philippines approved stablecoin pilot program in regulatory sandbox framework
May 14,2024
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has granted approval to digital currency exchange Coins.ph to conduct a pilot program for a stablecoin called PHPC. This Philippine Peso-backed stablecoin will operate under ...
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China offers computing vouchers to support AI startups in competing with tech giants.
Mar 05,2024
,China is reportedly taking steps to support its AI startups ecosystem and help them compete with tech giants. At least 17 cities in China are offering 'computing vouchers' worth between$140,000 and$280,000 to AI startups to help cover the rising cos...
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New projects to drive the digital and financial inclusion in Africa
Jan 24,2024
New partnerships that drive digital acceleration and financial inclusion in Africa have been set up, explicitly focusing on enhancing M-Pesa's offering to improve the lives of 100 million people and one million small businesses. Microsoft and Vodafon...
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Ghana Parliament rejects 2022 budget over MoMo taxes
Nov 13,2023
The Parliament of Ghana has rejected the 2022 budget over mobile money (MoMo) taxes. The budget, which proposed to levy a 1.5% levy on mobile money, bank transfers and remittances, was presented by Finance Minister Ken Ofori-Atta. Many Ghanians are o...
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Kenya to start licensing digital lending apps
Nov 13,2023
Kenya's President has signed into law a Bill that mandates the Central Bank of Kenya to licence and regulate digital lending apps. It is estimated that there are over 200 apps, which mostly use data to determine the credit worthiness of potential bor...
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Ghana to impose tax on mobile transactions
Nov 13,2023
Ghana will introduce a 1.75% levy on electronic transactions. This was announced by the Minister for Finance and Economic Planning during the 2022 budget statement. The tax will be imposed on mobile money payments, bank transfers and inward remittanc...
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CBK raises alarm over Christmas loans
Nov 13,2023
The Central Bank of Kenya's (CBK) Governor Patrick Njoroge has cautioned digital lending apps against predatory practices during the Christmas period. This comes as the parliament considers a legal amendment that would bring the apps under CBK regula...
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Mobile money enabled cash assistance: User journeys in Burundi
Nov 13,2023
GSMA published a report entitled 'Mobile money enabled cash assistance: User journeys in Burundi' which looks at recipient experiences of receiving cash and voucher assistance (CVA) via mobile using a human-centred design approach to examine the user...
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Mastercard and Carticard partner for inclusive finance in Egypt
Nov 13,2023
Mastercard and Carticard, a subsidiary of Egabi FSI, have announced a partnership to enable Carticard customers access Mastercard loans. Carticard offers digital products to small entrepreneurs such as merchants, skilled laborers, and farmers. The co...
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SDG Impact Accelerator opens its second global call for startups
Nov 13,2023
start-ups The Turkish Ministry of Foreign Affairs and the UN Development Programme (UNDP) launched the second global call for SDG Impact Accelerator (SDGia) to motivate start-ups to work on products and services in the field of financial inclusion in...
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UNECA prioritises financial development for Africa
Nov 13,2023
The UN Economic Commission for Africa (ECA) launched the 2020Economic Report for Africa 2020. The edition explores private sector financing for African development and considers recent economic developments in corporate banking, equity, financia...
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ECA's new report calls for adoption of digital transformation strategy in Africa
Nov 13,2023
The Economic Commission for Africa (ECA) released its flagship economic report on Africa. The report titled 'Innovative Finance for Private Sector Development in Africa' explores innovative financing to provide solutions to the challenges of private ...
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