A new report by BDO Africa has explored how transformative technology within the African Fintech landscape has the potential to shape a more inclusive and prosperous future for the continent.

According to the Africa Fintech report, Africa is witnessing a groundbreaking surge in Fintech innovation, rapidly unlocking a continent brimming with economic potential.

For businesses to capitalise on this transformative technology, specialised guidance to navigate the complexities of regulation, competition, and technological integration is required.

“With the Fintech market expected to be worth around $65 billion by 2030, it is crucial for businesses to understand the minutia associated with recent advancements, ongoing challenges, and regional variations in the sector.

“As leading advisors in the Fintech space, we have compiled this report to bring clarity to navigating the complexities of the market in the hopes of empowering more businesses to join the race.”

Nevellan Moodley, Head of Financial Services Advisory at BDO, says. The report takes a deep and insightful dive into topics such as trends, opportunities and challenges, regional dynamics and the distinct Fintech ecosystems of Northern, Eastern, Southern, and Western Africa, the importance of establishing clear and harmonised regulatory frame works that balance innovation, consumer protection, financial stability, and cybersecurity in ensuring the security and trustworthiness of Fintech systems.

“The African fintech space is growing exponentially, but the development of the fintech ecosystem is still in the early stages,” says Keshan Pillay, Associate Director: Financial Services Technology BDO.

“By breaking down Africa’s FinTech landscape and providing real insights around the high level of fragmentation per country, we are removing the barriers that could be holding businesses back and providing guidance on reaping the full economic benefit of this growing market,” Keshan added.

As the market matures, Africa is on a trajectory to becoming the next globally recognized Fintech hub. “We can say with confidence that although there is still quite the way to go, the current state of Fintech in Africa is on the right path.

“We have seen the opportunity and are intent on leveraging our expertise to get more businesses into a state of readiness so that they are empowered to offer more customised solutions for niche population segments that keeps them sustainably growing.

“We are thrilled to be playing an active role in the continent’s journey to revolutionizing the financial services industry as we know it,” concludes Moodley.

Stella Ikwuegbu, veteran Nollywood actress is dead.

Mrs Stella Ikwuegbu

Stanley Nwoko better known as Stanley Ontop, movie producer, made known this known on Sunday by via his Instagram page.

Stanley Ontop, revealed that the actress passed away today, Sunday, June 16th, after battling with leg cancer.

He wrote: “Nollywood actress and veteran Mrs Stella Ikwuegbu is dead. The veteran actress left this world today after battling with leg cancer. Rest well, Madam Stella. Nollywood again. It’s well.”

The late actress began her career in 1990, appearing in numerous films such as ‘Spoiler,’ ‘Ukwa,’ ‘Sound of Love,’ ‘Holy Man,’ ‘Two Hearts,’ ‘Heart of Stone,’ and ‘Madam Koikoi,’ among others.

Hailing from Enugu, she was not only an actress but also a businesswoman.

A graduate of the Institute of Management and Technology (IMT) in Enugu State, she launched her restaurant, ‘The Film Bar,’ on August 1.

The actress’ death comes barely five days after veteran Yoruba actor Dayo Adewunmi, aka Sule Suebebe, died at 68.

As the ancient city of Ijebu ode gets set to host another Ojude Oba festival, Nigeria’s leading payment service bank, Moneymaster Payment Service Bank Limited (MMPSB) has concluded arrangements to be part of the annual event where the indigenes of Ijebuland will be onboarded to the bank’s multipurpose mobile wallet.

The Ojude Oba typically holds on the third day of the Eid-El-Kabir whereby different cultural age groups put up a spectacular parade to pay homage to the Royal Majesty, the Awujale of Ijebualand.

Preparatory to the event, Moneymaster, had embarked on month-long market activation, across Ijebuland to onboard the indigenes on to one of its digital banking platforms – mobile wallet through which customers can transfer, withdraw from an agent, buy airtime and pay utility bills.

In a statement, Moneymaster opined that once majority of Nigerians embrace mobile wallet which enables them to cultivate a more convenient savings habit and also make to payment with ease, the nation’s move towards a cashless economy will become a reality.

“While we rejoice with the people of Ijebuland at this time, we also want to showcase what we have in Moneymaster’s mobile wallet that can help various people to enjoy seamless banking from their phones”, the statement noted.

Licensed by the Central Bank of Nigeria in August, 2020 and insured by NDIC, Moneymaster Payment Service promotes financial inclusion in furtherance of the Nigerian financial literacy initiative driven by the Central Bank of Nigeria.

With Moneymaster, Nigerians can open mobile wallets, savings account, individual and business accounts to make payments, buy airtime, pay utility bills to over 4,000 companies.

The Bank was recently appointed a payment partner to the Ounje Eko initiative by the Lagos State government in its bid to provide discounted food items to residents of the state amidst rising cost of food items.