Tanzania – Africa Tech Digest

Absa, Tigo & JUMO Join Forces to Expand FinTech in Tanzania

16Sep

By Africa Tech DigestNo Comments

Fintech

Absa, Tigo & JUMO Join Forces to Expand FinTech in Tanzania

Mobile fintech platform services provider, JUMO today announced a new partnership with Absa Bank Tanzania and Tanzanian telecom firm Tigo to increase the availability of the existing short-term credit product Tigo Nivushe in the country. The new tripartite agreement reached with Absa will pave the way for more funds to be disbursed through JUMO’s intelligent banking platform, from September 2021, says JUMO. Tigo Nivushe is a mobile lending product that is an easily accessible, short-term loan option available to Tigo Pesa’s customers and funded by Absa Bank. Customers who are registered and sufficiently active on Tigo Pesa can borrow amounts ranging from TZS2,000 ($0,08) to TZS1-million ($431,22) depending on their requirements and eligibility. Continue reading Image: Wikiwand...

Government Cuts Mobile Money Transaction Charges by 30pc

The statement added that newly reduced rates will be officially announced in the Government Gazette today TEL AVIV, Israel, September 1, 2021/APO Group/ -- Tanzania's Government has reduced mobile money transaction levy by 30 percent. A press statement issued by the Ministry of Finance and Planning Tuesday stated that Minister Mwigulu Nchemba has already signed the review of the charges. Also, the Government held a meeting with mobile service providers, who have unanimously agreed to cut down mobile money interoperability rates by 10 percent Following concerns and views from the public, claiming that the deductions were too high, President Samia Suluhu Hassan directed two Ministers (Finance and Planning Minister and Minister for Communications and Information Technology) to si...

East Africa Top 10 Tech Startups to Watch

The tech startup scene in the African continent is experiencing record-breaking growth and increased international attention. In 2017, African tech startups received over $560M in investment according to research by Partech Ventures (a 53% increase from $367M in 2016). While South Africa and Nigeria still lead in attracting tech investments for the continent, East Africa is rapidly grabbing diverting more attention and investment dollars, catalyzed by strong innovation hubs and incubators. Nairobi stands as the pillar and anchor of East Africa’s interest, attracting 26% of total investments into Africa. Results from I-DEV East Africa Tech Survey showed strong evidence that Kenya continues to take a the lead in attracting attention and growing the ‘hottest’ companies to watch in East Af...