Tag: Africa

The Battle for Africa’s Mobile Money: Mastercard builds ON mobile money,Visa builds AROUND mobile money,Chinese players build AGAINST mobile money.

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The Battle for Africa’s Mobile Money: Mastercard builds ON mobile money,Visa builds AROUND mobile money,Chinese players build AGAINST mobile money.

Nigeria’s 2023 cash crisis revealed who was ready for Africa’s digital future. When banks crashed and ATMs ran dry, two Chinese-backed apps—OPay and PalmPay—kept working while Nigerian banks scrambled.
Meanwhile, Mastercard was closing a $200 million deal with MTN’s mobile money division. Visa was launching its Africa Fintech Accelerator. And in Shenzhen, Transsion Holdings watched its payments app capture millions of users.
Three wildly different bets on the same market: Africa’s mobile money ecosystem, which processed $1.1 trillion in 2024, where cash still dominates 90%+ of retail payments, and where 1.4 billion people are going digital.

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Why Africans Don’t Trust Fintech’s and Mobile Money (Yet)

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Let’s start with a simple truth: access isn’t the same as trust.
We’ve spent over a decade celebrating Africa’s financial inclusion boom — the millions of new mobile wallets, the rise of fintech titans from Lagos to Nairobi, the mammoth stats that make development economists beam. Yet, I keep coming back to one uncomfortable question: do Africans trust the financial systems we’ve created for them?
Because if they don’t, then all we’ve built are digital doors — not open ones.

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Infrastructure Investments: Building Africa’s Digital Backbone for Growth

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Having sat on two investment committees—one in insurance, another in venture capital—as well as the board of Ghana’s GIFEC (which allocates universal access funds for ICT infrastructure), I’ve seen firsthand how capital allocation decisions shape long-term outcomes.

Insurance investments emphasize stability, risk management, and sustainable returns.

Venture capital emphasizes growth, agility, and the capacity to back bold bets.

GIFEC balances financial stewardship with national inclusion goals, investing in connectivity for underserved communities.

These three lenses—risk, growth, and inclusion—mirror the balance Africa must strike in digital infrastructure investments. Governance, therefore, is not a footnote. It is the multiplier that ensures that capital, once deployed, creates lasting resilience and inclusion.

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What Ghana’s AI Policy Could Learn from Rwanda, Senegal, and Egypt

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Ghana Cannot Afford to Delay: Lessons from Rwanda, Senegal, and Egypt for a National AI Policy
Artificial Intelligence (AI) is no longer a distant aspiration.
It is fast becoming the most critical driver of productivity, competitiveness, and governance transformation.
The African Union estimates that AI and other Fourth Industrial Revolution technologies could add $1.3 trillion to Africa’s GDP by 2030 (PwC, 2022).
Yet, as this opportunity emerges, African nations are not moving at the same speed.
Ghana has pockets of excellence—research groups, private sector pilots, and enthusiastic startups—but it has no comprehensive, resourced national AI strategy.
This is not just a gap. It is a risk.
As the Ministry of Communications and Digitalisation, NITA, and other stakeholders begin conversations about a future AI policy, Ghana has an opportunity to learn from the deliberate and well-funded strategies of three African peers: Rwanda, Senegal, and Egypt.

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Africa’s Digital Sex Economy is quietly growing and investors are funding it : Size, Trends, and the New Hustle

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Africa’s Digital Sex Economy is quietly growing and investors are funding it : Size, Trends, and the New Hustle
Across Africa’s urban hubs—from Lagos to Johannesburg, Accra to Nairobi—a new economic frontier is quietly booming: the digital sex economy. Once confined to the backstreets and brothels, sex work has now migrated to private screens and subscription platforms. Powered by mobile technology, platforms like OnlyFans, Telegram, WhatsApp, and anonymous digital wallets, a new generation of African women (and some men) is reimagining how sexual labor is marketed, monetized, and consumed.

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