1 °c
London
Monday, April 19, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Bluecode Africa shows the way to financial inclusion

FurtherAfrica by FurtherAfrica
September 22, 2019
in Africa, Blockchain, Finance, Financial Inclusion, Fintech
Reading Time: 2 mins read
0
Opinion: Time for true inclusive innovation in Africa
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Fintech firm Bluecode Africa is planning on making waves at the world’s premier financial services event, dubbed Sibos 2019, set to take place in London, the United Kingdom, from September 23 to 26.

A Bluecode payment is made by mobile handset-to-handset, handset-to-point-of-sale or any other standard mobile static or dynamic medium, push or pull, including e-commerce and Unstructured Supplementary Service Data — all with no plastic or card scheme.

Over 9 000 business leaders, decision-makers and topic experts, 600 speakers and more than 100 fintechs will focus on shaping the future of the financial world.

Bluecode Africa director Murray Gardiner said the company would be exhibiting at the Africa Pavilion together with Bankserv and other leading financial players, where they will be educating delegates on how the world will make payments in a way that is secure, practical and does not need expensive technology and infrastructure to work.

Gardiner said in sub-Saharan Africa, mobile money accounts now surpass traditional bank accounts, as African countries leapfrog legacy systems established in Western markets.

‘It’s a good news story, but there’s a catch. African financial institutions, which have nurtured clients and developed products suited to local conditions over decades, now face the prospect of disintermediation by fintech and bigtech whose interests are aligned with foreign shareholders, not local financial markets and financial institutions,” he said in a statement.

Gardiner said hundreds of fintech start-ups have launched in Africa, most on the theme of financial inclusion and were targeting consumer transactional banking, consumer micro-credit and ultimately data harvesting.

“Many are leveraging off foreign card schemes. The endgame is harvesting and mining transactional data and disintermediation of the customer from the bank. African nations have invested 60+ years developing local financial markets to support local economic development. Banks need to get ahead of this trend,” he said.

“The disruption could undermine the delivery of more diverse financial services to MSMEs [micro-, small and medium enterprises] for artisans, farmers and traders that are the engine for wealth creation and jobs.”

Source: NewsDay

Related

Tags: africaAfrica PavilionBankservBluecode AfricaBluecode paymente-commerceFeaturefintechMobile MoneyMSMEMurray GardinerSibos 2019африкаأفريقياアフリカ非洲
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Sino-Mozambican exchange helps to consolidate Mozambique’s cultural industry

Next Post

Zambia Airways cabin crew to train in Ethiopia

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

gas processing plant Angola
Angola

Angola to launch oil and gas licensing round on April 30

by Duarte Marques da Cruz
April 19, 2021
Where To Invest In Africa 2020 – RMB Report
Economy

Sub-Saharan Africa’s economic growth set to recover in 2021 – IMF

by FurtherAfrica
April 19, 2021
Fintech

South African fintech Peach Payments secures funding with plans to expand across Africa

by TechGist Africa
April 19, 2021
Aviation

Air Zimbabwe creditors to be paid through 1 to 1 Zimbabwe/US dollar ratio

by Staff
April 19, 2021
South Africa Green bond
Energy

Renewable energy ensuring economic and climate resilience for Southern Africa

by FurtherAfrica
April 19, 2021
Next Post

Zambia Airways cabin crew to train in Ethiopia

SMEs driver of economic growth in Botswana - Barclays

Angola: 400Km of roads repaired in Cunene

China-Namibia road construction companies contribute to drought relief efforts

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?