regulation
Latest articles about regulation in African payments and fintech
PawaPay CEO Warns African Mobile Money Growth at Risk from Regulatory Hurdles
PawaPay's CEO has highlighted regulatory uncertainty as a major challenge for mobile money growth in Africa, as various countries pursue different approaches to payments modernization. The warning comes as Ghana admits six fintechs to its regulatory sandbox for virtual assets, while other nations like DRC prepare to launch new payments infrastructure.
Safaricom Clarifies Automatic M-PESA Health Deductions Amid User Concerns
Safaricom has clarified the mechanism behind automatic health levy deductions from M-PESA wallets, confirming these are conducted without PIN authentication as part of a government mandate. The development comes amid Safaricom's continued dominance of Kenya's mobile money sector, recently evidenced by a Central Bank-approved $1.6 billion stake transaction.
Nigeria's CBN Upgrades Major Fintech Players to National Operating Status
Nigeria's Central Bank has upgraded the operating licenses of major fintech companies including OPay, Moniepoint, PalmPay, and Kuda to national status. The regulatory upgrade enables these digital payment providers to expand operations across all 36 Nigerian states, marking a significant development in the country's financial technology sector.