BANKING AND FINANCE INVESTMENTS AVAILABLE IN AFRICA*
*Sir William Jackson, Inc. is not responsible for any problems associated with anyone, or any company accepting the below business investment or job opportunities. Your decision to accept an offer here, is at your own risk. If you are successful, due to this information, you are advised to please donate One Percent (1%) of your Yearly Income and/or Net Profit, to the African Union (AU) for a period of three (3) years. – Sir William Jackson
JUMIA PARTNERS MASTERCARD TO BOLSTER CASHLESS E-COMMERCE IN AFRICA
Africa’s online retail sector presents an exciting opportunity for retailers to grow their businesses by connecting with new customers. According to Jumia, Africa’s number one online retailer, the e-commerce sector must focus on delivering a stronger consumer experience if it is to reach its full potential of developing into a $50 billion industry by 2018.
TANZANIA: CRDB TO INTRODUCE DIGITAL BANKING
CRDB Bank will introduce a digital banking platform, Mobile Wallet, in the coming few weeks as it seeks to grab a share of the revenue that is transacted via mobile phone money transfer platforms, the bank has announced. Bank of Tanzania (BoT) figures put the total value of money transacted through mobile money platforms at Sh42.9 trillion as of December 2016. The Mobile Wallet is one of the steps that CRDB Bank – which is Tanzania’s largest lender – is taking as it consolidates its position in the market by capitalizing on its past investments. “If everything goes according to plans, our Mobile Wallet platform will go live in June,” managing director, Dr Charles Kimei told The Citizen on sidelines of the bank’s 22nd annual general meeting here on Saturday
CAMEROON: EXPRESS UNION PROMISES 40% COMMISSION ON MOBILE MONEY SERVICE
The Cameroonian microfinance outfit Express Union (EU) which has lagged behind telecoms operators MTN and Orange in Mobile Money since 2011, has just launched an offensive aiming to entice. To this end, Express Union, is actually inviting traders, credit retailers (call-boxes), dealers, hairdressers, shop keepers and economic operators to join the network of franchise/retailers of the service “Express Union Mobile Money”. The microfinance company promises up to 40% in commission on charges in the form of micro credits to develop subscriber activities.
M-PESA FOR ALL
Safaricom is planning to expand M-Pesa Mobile Money Across Africa
M-Pesa is a huge cash cow for Safaricom. Since it launched in 2007, the service has grown to serve more than 29 million people in and out of Kenya. The platform allows users in 10 countries in Africa, Asia, and Europe to send and receive money, pay bills, and access loans. Last week, the company announced a 70.4 billion Kenyan shillings pre-tax profit largely boosted by the growth of mobile money services. M-Pesa revenue grew by 32.7% to 55 billion Kenyan shillings ($567 million) for the year ending March 2017. More than 3 million Kenyans also joined the platform, increasing its registered users to 26.57 million.
AFRICAN UNION – THE FINANCIAL INSTITUTIONS
Article 19 of the AU Constitutive Act provides for three specific financial organs to be created, the African Central Bank (ACB), African Investment Bank (AIB) and African Monetary Fund (AMF). The role of these institutions is to implement the economic integration called for in the 1991 Treaty Establishing the African Economic Community (Abuja Treaty). The 1999 Sirte Declaration, under which the OAU decided to create the AU, called for the speedy establishment of all institutions proposed in the Abuja Treaty. The AU Assembly has adopted protocols for the establishment of the AIB and AMF (detailed as follows). The draft Protocol for the Establishment of the ACB has not yet been submitted to the Assembly. Proposed structures will be submitted to the Executive Council for approval once the protocols for each institution come into force.
Kuramo Capital and Nile Capital launch Africa-focused investment firm–May 25, 2017
Kuramo Capital, a leading African investment manager, has partnered with Nile Capital Management, a New Jersey-based asset manager, to launch an Africa-focused asset management firm, called Kuramo Nile Capital Management, according to a statement released on Wednesday. The new investment firm will be focused on delivering “superior risk-adjusted returns” in Africa’s public markets for institutional and retail clients globally. Kuramo Nile will benefit from the mutual strengths of Kuramo Capital and Nile Capital, leveraging Kuramo’s institutional offerings, global footprint, and infrastructure, while building on Nile Capital’s track record