Partnerships throughout the African continent have been happening, despite the current pandemic and situation we now all presently live in. In particular, within fintech and wider tech there have been some noticeable ones. Here is a roundup of some of those from the past few weeks:
Cassava Fintech International (CFI) and Liquid Telecom Group (LTG) with Sasai Wi-Fi Finder
Cassava Fintech International (CFI) and the Liquid Telecom Group (LTG) announced the launch of Sasai Wi-Fi Finder, a potential game-changer in driving digital and financial inclusion in Africa. The service, which will be offered across the continent, was announced today, and is set to be rolled at thousands of hotspots across Africa.
Liquid Telecom is a leading communications solutions provider across 13 countries primarily in Eastern, Southern and South Africa that serves mobile operators, carriers, enterprise, media and content companies and retail customers with high-speed, reliable connectivity, hosting and co-location and digital services.
A 2019 report by the Global System for Mobile Communications (GSMA) shows that affordability remains a significant barrier to Internet adoption in Africa, resulting in social, digital and financial exclusion. This partnership seeks to offer a low-cost solution for connectivity and to expand these services throughout the continent. Darlington Mandivenga, the CEO of CFI Group, said, “We see this launch as a critical piece in the social digital inclusion agenda we are driving on the continent. Through Sasai Wi-Fi Finder, we plan to establish an expansive network of data access points across Africa and build ‘Africa’s Missing Network’ through partnering with broadband providers, Internet Service Providers and local community hubs.”
Moroccan bank CIH Bank automates corporate banking services with Finastra
CIH Bank, a Moroccan-based commercial bank, has gone live with leading fintech company Finastra and their Fusion Corporate Channels and Fusion Trade Innovation, to digitise its end-to-end corporate banking services. The solutions are automating the bank’s trade and supply chain finance services, providing its corporate customers with access to services online, rather than in-branch. The solutions reduce manual processes, helping the bank to become more efficient and agile, grow its customer base by providing a more seamless digital customer experience and ultimately, generate new revenue streams.
CIH Bank was founded around 70 years ago, with an initial focus on real estate financing. It has since evolved into a broader commercial bank, while retaining its traditional expertise in real estate and tourism project financing.
Oussama Tazi, Director of International, CIH Bank, said, “CIH Bank has strong links with the business community in Morocco. By digitalising our corporate services, we’re making sure that these customers are receiving the best service possible, from the comfort of their homes or offices. The ongoing pandemic made the requirement for this transition even more apparent as we needed to remove every manual step from the banking process and ensure business continuity for our customers. With Finastra’s solutions in place, our customers can now fully manage their operations online, without having to visit a bank branch.”
Despite the ongoing pandemic there have been various partnerships in fintech and wider tech happening in Africa IMAGE SOURCE GETTY
The world’s first Halal Angel Network explores African opportunities
The Halal Angels Network (HAN) was launched this year to promote innovation, entrepreneurship and startups in the halal market. That market is projected to grow to almost $10 million USD by 2025. HAN has partnered with Delio, a leading fintech company with offices in London, Dubai, Sydney and Cardiff, for transparency regarding deal flow, as well as the Halal Board India. The partnership now is searching for African opportunities after partnering with SSC Capital, a corporate advisory and investment management firm.
The partners will work together to co-host events throughout the African continent, as well as matchmaking investors and startups and consulting. HAN is calling for angel investors in African countries to join and discover over 1,000 investment opportunities across a wide range of sectors.
Multinational Vodacom and digital lifestyle services platform Alipay will launch a new fintech superapp in South Africa
Vodacom Financial Services announced a technology partnership with Alipay, the world’s leading digital lifestyle services platform, to bring inclusive mobile solutions to South African consumers and merchants through innovative digital technologies. The new app will simplify one’s life and business via smartphone. According to the operator, simplicity and convenience at its best with just one app offering you customised, dynamic products and services at the touch of your screen no matter where you are.
The partnership between Vodacom Financial Services and Alipay will allow both to share best practice and lessons learned to develop a super-app that will not only offer stellar digital customer experience, but bring to life a market place of goods and services that would be specific and unique for South Africa and tailor to their needs. The country has a progressive digital payments ecosystem designed to serve both the banked and unbanked parts of the population.