Telecom
Remittance Services in Africa: What Businesses Need to Know

Remittances represent a major source of financial inflow for African countries. The United Nations identifies remittances as a vital lifeline for more than 200 million Africans. It notes that beyond supporting the lives and livelihoods of families in the senders’ countries of origin, remittances or cash transfers represent solidarity and symbolise the generosity and resilience of the African community on the continent and beyond.

In 2023, remittances in Africa reached almost $100 billion, equalling nearly 6 per cent of the continent’s Gross Domestic Product (GDP) and exceeding Foreign Direct Investment (FDI) figure of $48 billion.
Within Sub-Saharan Africa, key markets for remittances are Nigeria, Kenya, Ghana and South Africa, with Nigeria alone receiving nearly half of all Sub-Saharan Africa’s remittances.
Remittance services are crucial for efficient international transactions, particularly for business involved in cross border operations. Remittance services facilitate the transfer of money from individuals and organisations to recipients in another country, playing a key role in Africa’s GDP growth and overall economic landscape.
Africa’s entrepreneurial sector and digital economy continue to expand rapidly. As such, the importance of efficient and reliable remittance services is increasing. For businesses looking to engage in cross-border trade, pay remote employees or manage international vendor relationships, understanding the dynamics of Africa’s remittance market is essential.
Current Landscape of Remittances in Africa
Africa is one of the largest recipients of remittances globally, with billions of dollars sent home each year by the African diaspora and businesses engaged in international operations. These remittances have significantly assisted in funding entrepreneurial ventures and stimulating regional economic growth.
However, the cost of digital remittances remains high, particularly in Africa. Research indicates that in 2023, the average cost of sending money through mobile applications to Africa was around 5 per cent, although it was lower in West Africa, at approximately 3 per cent.
The rise of digital technology, especially, is revolutionising traditional remittance channels like bank transfers and money transfer operators. Digital wallets, mobile money platforms, and blockchain-based solutions are emerging, making remittances faster, more accessible, and more affordable for businesses.
Who Are the Key Players in the African Remittance Space?
The African remittance landscape is populated by a variety of service providers, each bringing unique strengths to the market. From traditional money transfer operators to cutting-edge fintech platforms, businesses have a wide range of options to choose from.
Here are some of the leading players.
SeerBit
SeerBit is a Pan-African payment solutions provider dedicated to empowering SMEs and enterprise businesses by addressing barriers such as payment fragmentation and access to cutting-edge financial products, including remittance services. Known for its innovation and commitment to making payments simple, SeerBit ensures every business has the tools to serve their customers efficiently and scale their enterprise for growth.
Western Union
Western Union is a long-standing player in the global remittance market and maintains a strong presence in Africa. Known for its extensive network of physical locations, it offers reliable services even in rural areas, particularly where banking infrastructure may be limited.
WorldRemit
WorldRemit is a digital-first remittance provider, focused on simplifying the remittance process through its mobile and web platforms. It has gained popularity in Africa for its speed, convenience and lower fees compared to traditional players.
Sendwave
Sendwave specialises in mobile-based remittance services, focusing on low-cost, fast transactions primarily to African countries. It has become a preferred choice for the African diaspora due to its competitive fees and efficient service.
Flutterwave
Flutterwave is a leading African fintech company offering comprehensive financial solutions, including remittance services. It partners with global players like PayPal and Alipay to facilitate cross-border payments, making it a strong contender for businesses.
Challenges in Africa’s Remittance Market
Despite the growth and innovation in the African remittance space, several challenges persist:
Regulatory Issues: Strict regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, can make onboarding clients a long and complex process. In some countries, foreign exchange controls and restrictions on cross-border transactions add another layer of complexity.
High Fees: While digital solutions are driving down costs, traditional remittance services are still notorious for high fees. For businesses sending large sums or handling frequent transactions, these costs can accumulate and affect their bottom line.
Slow Processing Times: Traditional channels can take days for funds to reach recipients, which can hinder business efficiency, especially when dealing with urgent payments.
Accessibility in Rural Areas: In regions with poor banking infrastructure, access to remittance services can be limited. Digital platforms are bridging the gap, but there are still challenges in reaching remote locations.
Banking and Infrastructural Limitations: Inconsistent infrastructure, unreliable internet, and limited banking networks in some areas can slow down or complicate the remittance process, particularly for businesses operating in multiple countries.
Opportunities for Businesses Using Remittance Services
For businesses operating in or with Africa, remittance services such as those provided by SeerBit offer several strategic opportunities:
Cross-Border Transactions: Remittance services simplify cross-border payments for businesses dealing with international clients or suppliers. This can include paying for goods and services, settling vendor invoices or transferring funds between subsidiaries in different countries.
Payroll for Remote Teams: With the rise of remote work, companies are increasingly using remittance services to pay international employees and freelancers. This approach enables businesses to hire top talent from different parts of Africa without facing payroll complications.
Vendor Payments: Efficient remittance services ensure timely and reliable payments, allowing businesses to maintain strong relationships with suppliers.
Regulatory Considerations for Businesses
Operating in Africa’s remittance market requires a keen understanding of the regulatory environment. Here are some of the critical factors businesses must consider:
Central Bank Regulations: Each country has its regulatory framework, often overseen by central banks, that governs remittance services. Companies must comply with local laws and guidelines related to cross-border payments, exchange rate management and transaction reporting.
AML and KYC Compliance: To combat fraud and financial crime, businesses must adhere to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. These measures are designed to ensure the transparency and security of remittance services, though they can be resource-intensive.
Currency Exchange: Many African countries experience significant fluctuations in exchange rates. Companies need strategies to manage currency risks, such as hedging or using digital currency solutions that offer more stability.
To navigate these complexities, businesses should partner with experienced payment providers that have a strong track record in compliance and risk management.
What is the Future of Remittance Services in Africa?
The future of remittance services in Africa will be shaped by several trends.
Increased Fintech Investments: The rise in fintech investments is fuelling the development of innovative payment solutions that cater to the unique needs of African businesses. More startups are entering the market with niche offerings, targeting specific pain points like fee reduction and transaction speed.
Blockchain and Digital Currencies: Blockchain technology and the introduction of digital currencies are poised to make remittances faster, cheaper and more secure. Some companies are already using blockchain to bypass traditional banking networks, reducing costs and increasing transparency.
Integration with Business Ecosystems: Future remittance services are expected to integrate more seamlessly with other business tools, such as Enterprise Resource Planning (ERP) systems, accounting software and e-commerce platforms. This will provide businesses with more streamlined financial operations.
Businesses that stay ahead of these trends and adapt their strategies will be well-positioned to benefit from the evolving remittance landscape in Africa.
The continent’s remittance market is both dynamic and challenging, with numerous opportunities for growth. In a rapidly globalising economy, businesses cannot afford to overlook the significance of having a clear African strategy for remittance services. Understanding the current landscape, key players and the regulatory environment remain essential factors to guide informed decisions that enhance their financial operations.
Businesses can finetune their African strategy by exploring partnerships with trusted remittance services providers that align with their specific cross-border needs, ensuring they remain competitive in an increasingly digital and interconnected world.
Telecom
Africa Must Build Its Own Cybersecurity Intelligence, Says Tizel CEO At AfriTech 5.0

As Africa edges toward an estimated 750 million internet users by the end of 2025, the continent’s expanding digital footprint is increasingly matched by vulnerabilities that threaten its economic and national security.

Happiness Obioha, Managing Director and Chief Executive Officer of Tizel Cybersecurity
This concern took centre stage at the Africa Tech Alliance Forum (AfriTech 5.0), where Happiness Obioha, the Managing Director and Chief Executive Officer of Tizel Cybersecurity, delivered one of the event’s most compelling arguments for a new cybersecurity paradigm rooted in African intelligence rather than foreign technology.
Speaking on the theme “Beyond Firewalls: The Case for Homegrown Cybersecurity Intelligence in Africa,” Obioha maintained that Africa’s cybersecurity risks cannot be effectively mitigated with imported solutions that were never designed for the continent’s distinct digital realities.
She described Africa’s cyber landscape as one defined by unique threat actors, infrastructural limitations, cultural nuances, and business patterns that global security platforms often fail to understand.
According to her, relying solely on perimeter-based defenses such as firewalls is no longer adequate in a world where cyberattacks grow more adaptive, persistent, and sophisticated.
Obioha argued that Africa’s dependence on generic global tools has created a critical gap in the continent’s ability to detect, interpret, and respond to emerging threats, and explained that foreign cybersecurity systems frequently misread local attack patterns or fail to anticipate region-specific vulnerabilities.
As a result, many African organizations operate with a false sense of safety while facing increasingly complex threats ranging from ransomware and financial fraud to targeted breaches on government infrastructure.
The Tizel CEO emphasised that Africa’s long-term security lies in adopting intelligence-led approaches that draw from local insights, indigenous expertise, and continental research, and noted that such solutions allow faster and more precise threat detection because they are built with an understanding of local behaviour patterns and digital environments.
Beyond security improvements, she stressed that homegrown cybersecurity also strengthens national sovereignty, reduces capital flight, expands technical capacity, and creates jobs in one of the world’s fastest-growing sectors.
Obioha cited Tizel Cybersecurity as an example of what locally grounded innovation can achieve, explaining that the company’s model integrates contextual intelligence, real-time monitoring, rapid incident response, and strict adherence to regulatory frameworks.
According to her, Tizel’s work with banks, telecom operators, government agencies, and SMEs demonstrates the measurable impact of Africa-specific cybersecurity architecture.
Among the results she highlighted were the prevention of a major ransomware attack in the financial sector, a significant reduction in network downtime for a telecom operator, and the deployment of effective real-time monitoring systems for a government agency.
She reinforced that Tizel’s success is built on its deep understanding of the African digital ecosystem, a familiarity she described as indispensable for delivering cybersecurity that genuinely protects African institutions.
The region’s business culture, infrastructural diversity, and evolving digital habits, she said, can only be accurately interpreted by experts who operate within the same environment.
Obioha urged African enterprises and governments to take a more deliberate approach toward securing their digital future, and encouraged them to re-examine their cybersecurity posture, invest in indigenous intelligence-driven solutions, and build internal teams equipped to respond to emerging threats.
The survival and competitiveness of African businesses, she noted, will increasingly depend on their ability to align security strategies with the realities of the continent’s rapidly evolving digital economy.
“Africa’s digital future is promising,” she concluded, “but it must be secured with intelligence and innovation that come from within the continent.”
Telecom
MTN Partners with SMEDAN to Drive Digital Growth and Job Creation Nationwide

MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs).

L-R: Julcit Onigbogi, Head of Legal, SMEDAN; Charles Odii, Director General, SMEDAN; Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria and Ayham Moussa, Chief Operating Officer, MTN Nigeria, during the MTN, SMEDAN Seal Strategic Partnership Signing held at the MTN Plaza, Ikoyi on Thursday, November 27, 2025.
The signing ceremony was held at the MTN Plaza, Lagos, on Thursday, November 27, 2025.
MTN Nigeria’s Chief Operating Officer, Ayham Moussa, reiterated MTN’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
He said: “SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets.
“This collaboration serves both our business and social development objectives.”
Chief Enterprise Business Officer, Lynda Saint-Nwafor, MTN Nigeria described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
She stated: “Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need.
“We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale.”
Speaking at the event, the Director General of SMEDAN, Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
He said: “We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years.”
Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
The partnership will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs. With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
The event concluded with the formal signing of the Memorandum of Understanding (MoU), setting the stage for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
Telecom
MTN Nigeria Launches Y’ello Data Gifting Campaign as Digital Connectivity Shapes Festive Celebrations

MTN Y’ello Tide is the gift that keeps giving, with MTN exciting Nigerians through a season filled with yellow gifting, digital rewards, and festive moments. This year, MTN is giving customers even more ways to stay connected and celebrate, and the Y’ello Data Gifting initiative stands as one of the many offerings under MTN Y’ello Tide.

MTN Nigeria
With Nigerians embracing more digital-led ways to connect and celebrate during the festive season, MTN Nigeria has introduced its Y’ello Data Gifting initiative as part of the broader MTN Y’ello Tide, designed to encourage customers to share data with loved ones while standing a chance to win prizes worth millions of naira. MTN Y’ello Tide continues to position digital connectivity as an exciting way to gift this season, reinforcing that MTN is giving Nigerians more value at a time they need it most.
The campaign runs from December 1 to 25, offering daily rewards such as Samsung smartphones and ₦20,000 shopping vouchers for the top 20 data gifters each day. As a core part of MTN Y’ello Tide, the data gifting experience helps customers enjoy more yellow moments through rewards, bonuses, and shared connections. Customers who participate also enjoy bonus data, with 1GB awarded to those gifting 10GB or more, and 500MB for gifts ranging between 5GB and 9.99GB. Participation is available through *321# or the myMTN NG app between 10am and 10pm daily.
Across Nigeria, digital behaviour continues to evolve. Internet consumption reached a record 973,455 terabytes in December 2024, marking a 36.5 percent year-on-year growth according to the Nigerian Communications Commission. MTN Y’ello Tide taps into this shift by offering exciting, value-driven digital gifting experiences that help people stay connected throughout the season.
While costs of food and non-alcoholic beverages have risen by over 92 percent in the last three years, and inflation stood at 34.60 percent in November 2024 with food inflation at 39.93 percent, Nigerians continue to prioritise meaningful and cost-efficient ways to stay connected. This shift has led many families to favour experiential or digital gifts, particularly as surveys show that 76 percent of Nigerians experienced income reductions in 2024, based on the PiggyVest Savings Report.
Festive spending has also adjusted to new realities. Items such as Christmas trees now range between ₦23,000 and ₦700,000, up from ₦17,000 to ₦450,000 last year. In this context, telco-led promotions like MTN Y’ello Tide’s Data Gifting campaign offer an alternative form of giving that aligns with today’s lifestyle needs. MTN is giving customers more ways to celebrate in yellow, creating exciting opportunities to share, connect, and enjoy festive rewards.
Nigeria remains a mobile-first market with 103 million internet users recorded at the start of 2024, representing 45.5 percent internet penetration according to DataReportal. Data now functions as a core utility supporting work, education, entertainment, and social connection across the country, making MTN Y’ello Tide’s digital gifting even more relevant this season.
As a Lagos civil servant noted earlier this month, the season remains a time for gratitude and connection, regardless of spending patterns. MTN Y’ello Tide strengthens this sentiment by making it easier for customers to stay connected and enjoy meaningful gifting in an exciting and accessible way.
The Y’ello Data Gifting campaign continues until December 25, with terms and conditions applying. As part of MTN Y’ello Tide, the initiative reinforces that MTN is giving Nigerians a festive season anchored on digital convenience, rewarding experiences, and yellow-themed celebration.
Dial *321# or download the myMTN NG app to start gifting data to your loved ones. Campaign runs until December 25, 2025. Terms and conditions apply.
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