The new directive, detailed in a circular issued by the Central Bank of Nigeria, requires that businesses using PoS terminals for electronic payments must route their transactions exclusively through either NIBSS or Unified Payment Services Limited (UPSL).
Togo’s Mobile Money market is witnessing robust growth. In the first quarter of 2024, total transaction value reached 917 billion FCFA (approximately $1.54 billion), reflecting a 3% increase over the previous quarter.
The platform allows users to sell products without any initial financial outlay. With just a few clicks, users can select items, set their own profit margins, and share products directly on social media platforms.
Sultan Ventures, a Hawaii-based firm with over 15 years of experience in venture building and startup acceleration, is no stranger to high-stakes innovation.
Through its digital infrastructure, Pumpkn aims to make financing more accessible and affordable, lowering the costs for both borrowers and lenders. Farmers and food processors can apply for loans ranging from R5,000 to R5 million and receive funding within 10 days — an expedited process compared to traditional banking channels.
Under POPIA, companies found to have breached data protection rules face severe penalties, including fines of up to R10 million (roughly $550,000) or prison sentences of up to 10 years.
The platform boasts over one million cash points of sale, contributing to a 25% increase in payment conversion rates. Encouraged by these results, the company is now planning to open this payments solution to external merchants, with a potential launch before Christmas 2024.
Naguib Sawiris's battery-swapping group has built the largest network of its kind in the Middle East and North Africa. Whether each cabinet earns back the batteries it cycles is a question it has not answered.
