Diasporan remittances and local money transfers have received a boost with the new partnership between Airtel Africa and WorldRemit aimed at expanding operations of Airtel Money to Rwanda in a bid to ensure availability of the products across countries such as DRC, Uganda, Zambia, Tanzania, Malawi and Niger. Airtel Money enables mobile money users to send local and international money transfers, make utility payments, pay merchants, save money in their mobile wallets, purchase airtime and access a range of mobile financial products.
Raghunath Mandava, CEO of Airtel Africa
WorldRemit will enable customers from across the globe to receive money into Airtel Money wallets. Users can use the free mobile app; choose Mobile Money and Airtel as the operator, then follow the prompts. Andrew Stewart, Managing Director for Middle East and Africa at WorldRemit said that “the connection to more Mobile Money accounts through Airtel Africa allows us to expand our payout network and options available to customers across the continent. It is really exciting and important to us that we continue to increase financial inclusion for our customers in Africa whilst delivering a fast, affordable and secure service.”
Reacting to the partnership and the huge opportunities it offers, Raghunath Mandava, CEO of Airtel Africa, says, “we are committed to enhancing financial inclusion in the countries we operate through building a huge infrastructure of cashing in and cashing out locations in the markets and increasing our distribution. This means that our customers can now receive fast digital payments via WorldRemit from around the world directly to their mobile phones, as well as access their funds at our exclusive kiosks and branches at their convenience.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The role of African women in development is growing in leap and bounds. More women are being tapped for executive positions across the continent to bring in balance, and a special touch to boardrooms in Africa. This probably informs the choice of Engineer Elizabeth Rogo, founder and CEO of Tsavo Oilfield Services as member of board of Kenya Power, an organization established to fight against energy poverty in the country.
Engineer Elizabeth Rogo, founder and CEO of Tsavo Oilfield Services
Eng. Rogo who is President for East Africa at the African Energy Chamber will join Kenya Energy as Non-Executive Director of the state utility company.Kenya Power has been making steady progress towards providing safe, secure and reliable electricity to Kenyan households and industries for several years. The company is a key pillar of the country’s Vision 2030, which aims to transform Kenya into a newly industrializing, middle-income nation. By handling most of Kenya’s power transmission and distribution, Kenya Power is the most crucial fighter against energy poverty in the country.
“Elizabeth is solidly pro-energy for all and for economic expansion. Elizabeth understands that having sustainable power is key for creating jobs and spreading economic prosperity across Kenya. We have no doubt that she will bring the highest ethical standards to executing her job,” stated NJ Ayuk, Executive Chairman at the African Energy Chamber.
“I am equally thankful to H.E. President Uhuru Kenyatta for his leadership in the energy industry, and to shareholders for appointing someone who has become a role model for many in our industry, especially for young women entrepreneurs. We sincerely congratulate her on this appointment,” added Ayuk.
Eng. Elizabeth Rogo’s appointment is yet another demonstration of her ability to build consensus around key energy issues in Kenya and East Africa. Elizabeth is the Founder & Chief Executive Officer of TSAVO Oilfield Services, and has over 19 years of international experience in oil & gas engineering, operations, project management, consultancy and business development. She has worked for the sector’s most renowned global companies including BJ Services, Baker Hughes and Weatherford International in Canada, the USA, Europe and Africa.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
VALR, the innovative bitcoin exchange which is the largest in South Africa judging by trading volume has raised $3.4 million (57 million rands) in a new Series A funding to help it roll out new products and launch in additional markets. This became necessary after the Johannesburg-based firm launched its digital asset trading platform after securing US$1.5 million in a funding round led by the US-based Bittrex and former FNB chief executive officer (CEO) Michael Jordaan’s Montegray Capital.
Farzam Ehsani, VALR’s CEO and co-founder
VALR, which allows customers to buy, sell, store and transfer more than 50 cryptocurrencies seamlessly and securely, now has over 40,000 customers and has seen over 13,000 bitcoin traded over the last month. It is now set for further expansion, both from a product and a geographic perspective, after raising a Series A round worth $3.4 million. The round was led by 100x Ventures, the investment arm of 100x Group, with participation from the South Africa-based 4Di Capital and continued support from Bittrex and Jordaan.
VALR will use the proceeds from the capital raise to build new products and services, expand into new territories, and continue to build its team of professionals, particularly in the technology, regulatory and compliance, and client service domains.
“I am very grateful that despite the challenging global COVID-19 pandemic that has adversely affected many businesses around the world, VALR has been able to grow at a phenomenal pace and we’ve been able to raise funds and partner with a set of world-class investors, adding to our already distinguished group of shareholders,” said Farzam Ehsani, VALR’s CEO and co-founder.
Arthur Hayes, CEO and co-founder of 100x Group, said South Africa had an “incredibly exciting and fast-growing” cryptocurrency ecosystem, and that he believes VALR is well-placed to capitalise on future growth of bitcoin trading.“In VALR we’re backing not only a successful early-stage business, but a management team with the ability to scale operations significantly,” he said.
Justin Stanford, co-founding general partner at 4Di Capital, said his company had been looking for an appropriate investment in the cryptocurrency sector for some years, and was “delighted” to be backing what he described as “such a high quality business and management team”.
“VALR has shown great integrity and leadership coupled with impressive growth, and delivers a mature, institutional grade offering to the local market,” adding that “this is becoming a necessary component in all markets the world over, as the crypto asset ecosystem becomes increasingly more accepted and integrated into the global financial system.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
A new report from the government of Spain shows that about 12.5% of Spain’s foreign workers who are registered for social security are Moroccan. According to new statistics from the Spanish Ministry of Integration, Social Security, and Migration show that Moroccans remain the majority of non-EU workers who are registered for social security in Spain in 2020. By the end of June, 254,664 Moroccans in Spain had registered for social security.
King Mohammed VI
The second-largest non-EU community registered for Spanish social security are from China (92,385), followed by Colombians (74,978) and Ecuadorians (68,916). In May, Spain reported that the number of Moroccans who were registered with the social security administration in the European country reached 257,195.
However, the total number of foreigners registered for Spanish social security reached 2,030,477 in June. The data represents an increase of 1.02%, or 20,593 people compared to May.
Out of the total foreign worker population registered for Spain’s social security, 1,267,659 are from non-EU countries. The remaining 761,818 come from countries in the European Union.
The National Institute of Statistics (INE) estimates the number of Moroccans legally established in Spain at 864,546 as of January 1, 2020. The number represents an increase of 6.3% compared to 2019 (50,959 people).
Due to its proximity to Morocco, Spain continues to maintain its position as the first EU country that receives Moroccan migrants seeking better economic opportunities.
Spain also receives thousands of seasonal Moroccan workers annually, particularly women. Red fruits farms in the Spanish suburbs, including the southern Huelva province, receive Moroccan women who work during the harvesting season.
Due to the COVID-19 crisis, Spain hired fewer Moroccan seasonal workers than usual. The workers also found themselves stranded in Spain after the harvesting season ended in May. They called on King Mohammed VI to intervene to allow them to return to their families.
The Moroccan and Spanish governments reached an agreement in July, and the first group of stranded seasonal workers returned home on July 19. More sea trips are being organized to return workers from Huelva to Morocco.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The disruptions caused to global supply chains as a result of the Covid-19 led to the establishment of the African Medical Supplies Platform with aim to bridge the supply gaps created by the pandemic. The platform has recorded huge demands for medical supplies from member states of the African Union within the first month of its establishment, thus the need to expand to African hospitals and CARICOM countries, and secures lifesaving COVID-19 medical treatment to benefit nearly a million Africans. The successful launch of the Africa Medical Supplies Platform (AMSP) by the Chairperson of the African Union, His Excellency, the President of the Republic of South Africa, Cyril Matamela Ramaphosa on the 18th of June 2020 has gained traction in sourcing of supplies of medical equipment, struck new and groundbreaking partnerships globally, and has experienced a surge in demand for medical supplies from Member States of the African Union.
South African president Cyril Ramaphosa
Updating the Chairperson of the African Union, His Excellency, the President of the Republic of South Africa, Cyril Matamela Ramaphosa on progress the platform has made thus far, African Union Special Envoy, Strive Masiyiwa, appraised the President of key developments the platform has made in the past three weeks.
AMSP launch of drugs for recovery treatment
“I recently directed the (AMSP) platform team to also begin to add promising pharmaceutical products that might be helpful to our doctors, working in close collaboration with the Africa Centres for Disease Control and Prevention (Africa CDC),” said President Ramaphosa.
As an update to this instruction, Mr Masiyiwa responded, “I’m pleased to advise you that at our request, the Bill and Melinda Gates Foundation has committed to joining our initiative to secure a drug called dexamethasone, which is being used to treat COVID-19 in hospitals in the US and Europe on very sick patients following the results of the RECOVERY Trial. The trial demonstrated significant reduction of mortality, saving lives that we couldn’t save without this intervention. About 1 million people will benefit from the drug (equivalent to 9 million tablets), which will be distributed proportionately for free to all countries that are interested in its use.”
The Gates Foundation’s Africa Director, Cheikh Oumar Seydi, noted, “The Gates Foundation gladly supports this initiative of the Africa Medical Supplies Platform to bring COVID-19 treatments to the African people. We have a shared belief that access to lifesaving tools should not be dependent on ability to pay.”In addition, the Africa CDC, has further secured $15m from the MasterCard Foundation, which has been used to buy PCR Test Kits through the platform.
“These tests will support our Partnership to Accelerate COVID-19 testing initiative that was launched a few weeks ago,” said the Executive Director of the Africa CDC, Dr John kengasong. These donations of both dexamethasone and test kits will be distributed for free to AU Member States, once they register on the platform so as to confirm their allocation and arrange delivery. Mr Masiyiwa further explained, “In addition to our efforts securing the best drugs on the platform, we are preparing to become a critical player in how oxygen supplies, monoclonal antibodies and vaccines are accessible on the continent when it is globally available.”
AMSP expands in supply and demand globally
Mr Masiyiwa also told President Ramaphosa that he was pleased to report that the UNICEF catalogue was now listed and purchasable on the platform while the applications from vendors of medical suppliers have increased threefold from the time of launch. “Mr President, l am pleased to report that the platform has proved popular with suppliers and is receiving applications from an average of 40 new vendors per day,” he said.
Mr Masiyiwa also reported that demand for medical supplies on the platform was high and included Member States of the African Union, leading international non-governmental organisations as well as international and African foundations. “We are also zeroing in on ensuring that we expand access of our platform to hospitals and local authorities approved by their governments of Member States. We believe this will help to ensure critical supplies are available at the hospital level in a speedy and timely fashion,” said Mr Masiyiwa.
He concluded the briefing by advising the Chairperson of the African Union His Excellency, the President of the Republic of South Africa, Cyril Matamela Ramaphosa, that under his leadership the platform had also achieved international recognition with Member States of CARICOM (Caribbean Community and Common Market) joining the platform to access critical medical supplies to fight COVID.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The Covid-19 pandemic has had extensive impact on virtually every area of human endeavour, however, its influence in education may have the most lasting changes on the way knowledge is impacted. Even though the needs and demands of the fourth industrial revolution has already been transforming the education sector over the past two decades, with technology allowing students to access education from anywhere at any time, the Great Lockdown changed all that, forcing the hands of everyone to adjust and embrace the Internet of Things (IoT).
Dr Andrew Hibling, CEO of EDGE Education
With the outbreak of the pandemic and its resultant lockdowns across the world and educational institutions having to close their doors to stop the spread, it became imperative to embrace the only way learning could be had, through technology. Although it has been an adjustment for both students and teachers, technology is revolutionising education and paving a way towards a better future in learning so says Dr Andrew Hibling, CEO of EDGE Education. According to Hibling, technology is changing education in 3 fundamental ways: how we learn; where and when we learn; and our interaction with learning materials.
“Historically, we have learned by developing our thoughts and ideas through confirming them with our peers and those we perceived as teachers in the community”, says Hibling. “This was done by watching what was going on around us, listening to others, experimenting and having conversations which then helped us to confirm our knowledge.”
However, outside the brick and mortar classrooms and lecture halls of today, we still learn this way, he explains. “It should then be noted that if this is how we learn, it is crucial that formal education should pivot to be in line with this. For example, we are still relying on the one versus much approach, such as a teacher or lecturer in front of a classroom or lecture hall, instead of students learning from an abundance of sources that are readily available to them online.”
Hibling describes the practice of students going to the same class at a specific time to listen to one lecturer as an industrial model of education. “The classroom was the factory, the learning was the product, and the method of transferring exactly the same information to a large number of people was simply the most efficient way to scale up the production of education,” adding that “though it was arguably effective when measured against its purpose, it is not necessarily our natural way of learning, and its time is up.”
“COVID-19, however, has accelerated the future of education by forcefully removing institutional resistance to online learning, he points out. “Although the emergency remote learning or online schools that emerged as a response to the virus are a step in the right direction, they are still a far cry from what online, remote or ‘blended’ learning can be. At the moment the transfer of information is one-way and the recipient is passive, but effective knowledge formation should be an active, dynamic interaction within a group or community.”
According to Hibling, learning means transforming information into knowledge through interaction within a community with similar interests. “Now technology allows us to do this outside the boundaries of geography and time. We can teach and learn by engaging our peers and educators with purposely-designed content.”Such content has been developing over the past two decades and EDGE Education has seen a host of online education offerings become available, from short courses to postgraduate degrees.
“As the imperative for face-to-face learning is challenged, further blending of onsite and offsite learning is likely to emerge,” Hibling says. “But whether learners are on-or-offsite, they will still engage digitally. This means that communities will use technology to learn from and teach each other, ultimately driving effective communication forward into the future making learning community and inquiry-based.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Pricepally, the Nigerian group-buying startup founded with the objective to cut out middlemen and save consumers has secured funding from German firm GreenTec Capital Partners to aid efforts aimed at expansion and deepening operations within its primary base. Established in November 2019, Pricepally could be called a child of necessity as it sets a group-buying platform that aggregates consumer food demand and matches it with supplies directly from farmers and wholesalers.
Luther Lawoyin, the CEO of Pricepally
The idea came out of the need to address the negative effect of middlemen in hiking the cost of products and services especially in Nigeria. The startup’s aim is to cut out middlemen and save consumers money by leveraging technology to aggregate demand via a sharing model. Users log in to the website or apps to purchase foods outright or arrange shared purchases, with these items bought from wholesalers or farmers divided accordingly and then shipped to each customer or a group destination.
Having secured an undisclosed amount of investment from the Frankfurt-based GreenTec Capital, which makes small investments in African tech startups but says its real value-add comes from its “company-building” model. The company has invested in a host of African startups, including Kenyan AI startup SuperFluid Labs, Nigerian logistics startup Parcel-it, Ivory Coast-based waste management startup Coliba, and, most recently, Ghanaian retail-tech startup Sumundi.
The startup has seen increased demand created by the global COVID-19 pandemic, and has ambitious plans to re-imagine the food system in Africa by connecting relevant stakeholders through their platform and building out the infrastructure to reach more Nigerians. Currently, Pricepally is available in the Lagos area, and offers one-to-two day delivery on orders.
Speaking on the development, Luther Lawoyin, the CEO of Pricepally said that “at Pricepally we are excited about our collaboration with GreenTec Capital, we see this as a significant step in achieving our vision of a sustainable food system for urban African cities. We are very aware of the huge challenge ahead but we are also very confident in this partnership and we look forward to the future.” Reacting, Maxime Bayen, senior company builder at GreenTec Capital Partners, said his company was thrilled to be supporting a team of “young, brilliant and gender-balanced co-founders” on such an important mission. “At the origin of Pricepally was the deep desire from a group of people to allow households to access essential and quality food at more affordable price,” he said.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
As part of its ongoing market segmentation and adaptation, Uber has ventured into logistics by launching a parcel service in Kenya dubbed “Uber Connect”. This development forms a major shift in Uber’s business focus which encompasses delivery services in a bid to diversify from its ride-hailing venture. With this, Uber Connect will provide an affordable same day delivery option to deliver packages, primarily transported via motorcycles. This new service will be priced at the same rate as its other motorbike service, “Uber Boda.”The base fare will be KES 55, and the rest of the distance will be billed at the rate of KES 14 per kilometer and KES 1 per minute on the road. Currently, the weight limit for packages has been set at 15kg for each.
Dara Khosrowshahi, CEO of Expedia, Inc.
While the service is definitely convenient, customers are urged not to ship packages worth more than KES 5,300 as Uber is not insuring the packages. Dispatching items worth more than the stated amount shall be at the customer’s own risk.Uber’s terms and conditions list numerous items which customers are not allowed to send via Uber Connect. These includes people, illegal items,firearms, weapons, ammunition and their parts, alcohol, highly perishable food or beverages, pharmaceutical products, over the counter medications, vitamins or supplements,recreational drugs, drug paraphernalia or tobacco products, money, gift cards, lottery tickets, or transferable securities, dangerous or hazardous items including explosives, poisonous or flammable items,fragile items, sexual aids, obscene or pornographic material, livestock, regulated species or animal parts, blood or fluids, any items for which you do not have permission to send and stolen goods.
This development in Kenya is Uber’s first attempt at parcel delivery in Africa as it kicked off its delivery services in April in other parts of the world, launching delivery services for groceries in various countries through Uber Direct. Uber now joins Little and Bolt in the package delivery space in Kenya. Bolt launched its delivery service in May of this year. Little Cab already had this service, but went on to include ambulance services on its platform. They collectively are in direct competition with other delivery companies like Sendy which has maintained a strong position in the logistics sector for a while.
Uber has also been very busy on the food delivery front, most recently acquiring American food delivery company, Postamates in a US$ 2.65 Billion deal, in a bid to make its own Uber Eats service profitable. Diversifying is very crucial for Uber which reported a US$ 2.9 Billion loss earlier this year, largely due to the coronavirus pandemic’s effect on its core business of ride-hailing.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Global pharmaceutical giant Novartis has launched a first-of-its-kind not-for-profit portfolio of medicines to be sold at zero-profit to governments in up to 791 eligible countries during the pandemic and until a vaccine or curative treatment is available. The Portfolio of 15 generic and over-the-counter (OTC) medicines from Sandoz division will address urgent unmet needs of low- and lower-middle-income countries to treat patients with COVID-19 symptoms; Portfolio will be sold at zero-profit to governments in up to 791 eligible countries during the pandemic and until a vaccine or curative treatment is available; Early access to treatment for managing COVID-19 symptoms is critical to preventing healthcare system overload.
Dr Lutz Hegemann, Chief Operating Officer for Global Health at Novartis
Novartis announced a new initiative to help patients in low-income and lower-middle-income countries (LIC; LMIC) access affordable medicines to treat the major symptoms of COVID-19 – a critical need in the absence of a vaccine or curative treatment. Inflammation and respiratory problems linked to COVID-19 can cause severe medical complications and can lead to death in some people, putting immense strain on fragile healthcare systems.
The Novartis COVID-19 portfolio includes 15 medicines from its Sandoz division for gastro-intestinal illness, acute respiratory symptoms, pneumonia as well as septic shock. The medicines were chosen based on clinical relevance and availability to ensure demand can be met globally. The medicines will be made available to governments, Non-Governmental Organizations (NGOs) and other institutional customers in up to 79 eligible countries at zero-profit to support financially-strained healthcare systems. Countries will have the flexibility to select the medicines in the portfolio that meet their healthcare needs. Eligible countries must be included on the World Bank’s list of LICs & LMICs1.
“Access to medicine can be a challenge for patients in low- and lower-middle-income countries and the situation has worsened during COVID-19. With our COVID-19 portfolio, we wish to help address the additional healthcare demands of the pandemic in the countries we are targeting,” said Dr Lutz Hegemann, Chief Operating Officer for Global Health at Novartis.
“This initiative builds on our earlier global commitment to keep prices stable for a basket of essential drugs used to treat COVID-19 patients,” says Sandoz CEO Richard Saynor. “The COVID-19 Response Portfolio for low-income and lower-middle-income countries is designed to support governments in treating COVID-19 symptoms before they lead to complications in patients.”
The following medicines are included in the Novartis COVID-19 Response Portfolio are Amoxicillin, Ceftriaxone, Clarithromycin, Colchicine, Dexamethasone, Dobutamine, Fluconazole, Heparin, Levofloxacin, Loperamide, Pantoprazole, Prednisone, Prednisolone, Salbutamol, Vancomycin. The portfolio will be offered in addition to the Novartis Access portfolio (on- and off-patent medicines against key non-communicable diseases) via the local Novartis or Sandoz affiliate.
This global pandemic has placed extreme pressure on healthcare systems in low- and lower-income countries. The pandemic response portfolio complements the previously launched Novartis COVID-19 Response Fund to support healthcare workers and communities in over 50 projects around the world.
The COVID-19 medicines portfolio is Novartis latest contribution to the global effort to combat the pandemic and support the stability of global healthcare systems. The company has committed to donating USD 40 million to support communities around the world impacted by the pandemic. In addition, Novartis has been active in two key cross-industry research initiatives, the COVID-19 Therapeutics Accelerator, coordinated by the Bill & Melinda Gates Foundation, Wellcome, and Mastercard, as well as a COVID-19 directed partnership organized by the Innovative Medicines Initiative (IMI). Novartis continues to provide hydroxychloroquine for ongoing investigator-initiated trials (IITs) and upon government requests, as appropriate.
The company is also separately supporting COVID-19 related clinical investigations of several Novartis medicines. To support access, the Novartis generics and biosimilars division Sandoz became the first company to commit to keeping stable prices for a basket of essential medicines that may help in the treatment of COVID-19 and entered into a partnership with US-based Civica Rx to support stable supply of essential generic hospital medicines. Furthermore, AveXis, Novartis gene therapy unit, entered into a manufacturing agreement with Massachusetts Eye and Ear and Massachusetts General Hospital to produce its novel genetic COVID-19 vaccine candidate called AAVCOVID.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Fintech startups in South Africa are up for a big game. China’s leading payment service provider, Alipay which has just announced that it is going on its Initial Public Offering (IPO) on the Shanghai Stock Exchanges’ STAR board and the Stock Exchange of Hong Kong (HKEX/SEHK), has entered the South African fintech market, big time. In a new partnership with leading South African telecom company, Vodacom, Alipay will assist Vodacom on a new “super app” that will allow customers to make payments, stream video and make travel arrangements, among a host of other services.
Vodacom’s CEO for financial services, Mariam Cassim
“The next six months are going to be very busy,” Vodacom’s CEO for financial services, Mariam Cassim said, today.
Here Is What You Need To Know
The new partnership between Alipay and Vodacom will help to aggregate different merchants and service providers so that users can do all their business online and “never have to leave the app”.
Vodacom’s CEO explained that the company is already in the process on signing up and registering merchants and businesses for the new platform.
She said the platform will be “network agnostic” as it will be available to all South Africans, even those not on Vodacom.
Vodacom will pay Alipay parent company Ant Group fees for the use of the technology.
Vodacom has recently launched an Android-based point of sale device for merchants as part of the development.
Group CEO of Vodacom Shameel Joosub said the service would only be available in SA at its launch. In other operating countries, some of the new services will be offered through Mpesa, run by Vodacom affiliate, Safaricom.
“This partnership is a significant milestone in promoting greater financial inclusion within the communities in which we operate, accelerating our financial services aspirations across Africa. We already offer South African customers an ecosystem of innovative digital financial services products, but this technology partnership with Alipay will enable us to be on par with leading global digital counterparts quicker and more efficiently,” said Shameel Joosub.
Tencent’s WeChat is an example of a super app as it allows users to order food, hail rides, play games and make payments on a growing list of services.
Mobile subscriber market share, South Africa 2018. Source: BusinessTech
The Battle For Who Controls Over 90% Of South Africans Who Are Financially Included Wages On
In recent times, it has appeared the war is between Vodacom and its competitor MTN. Both have been investing aggressively in mobile payments and financial services in the last years.
In 2012, MTN first launched its mobile money platform locally before pulling the plug in 2016 because of a lack of commercial viability as three-quarters of the population had bank accounts. Vodacom shut down its M-Pesa mobile money service in SA in the same year, citing similar reasons. Since then Vodacom decided to go in a different direction, concentrating its efforts on insurance and lending.
In June, MTN said its mobile money platform — MoMo — had registered more than one-million users since its relaunch in February. Fixed-line operator Telkom recently began the process to rebrand and repurpose the almost 70-year-old Yellow Pages into an online marketplace, as part of an effort to capitalise on the growth of e-commerce and grow new revenue streams.
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions. He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance. He is also an award-winning writer.
