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Daily Monitor
Tuesday May 25 2021
A visitor admires an exhibition of a fashion start-up at Motiv in Bugolobi. Dating back to 2012, a Digest Africa report has recorded over $55m (Shs196b) raised by Ugandan startups across 168 deals with investment activity peaking between 2017 to date.
PHOTO/COURTESY
Summary
MTN Rwanda recently decided to consider setting up an independent company to take on and operate its financial technology operations.
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The chief executive officer Mitwa Ng’ambi said financial technology was fast becoming influential in digital finance, so it has been considering setting up an independent subsidiary to run those operations, Rwanda’s The New Times reported.
Daily Monitor
Tuesday March 16 2021
A man uses a visa card to complete a transaction. Fintechs have largely relied on venture capital funding to develop scalable products that can serve across many markets. PHOTO/Eronie Kamukama
Summary
Uganda attracts the least funding for fintechs in venture capital, with Rwanda, Kenya, Egypt, and South Africa and Nigeria being the leaders in hedge funds,
Paul Murungi writes.
Over the last 50 years, banks have played a primary role in banking or financial intermediation. This has slowly progressed into electronic payments with the evolution of Real Time Gross Settlements (RTGS) and Electronic Funds Transfer (EFT), among other modes of financial innovations to facilitate payments between different institutions and across borders.