agency banking

In 2011, the Nigerian government launched a financial inclusion initiative and set a target to include 80% of the country’s adult population. Although only a target of 64% was met by the end of

Pan-African digital payments network MFS Africa has raised $100 million in equity and debt, additional funding that takes its Series C round to $200 million. African investment manager Admaius Capital

More venture capital keeps trooping into Africa’s B2B e-commerce retail, a space where startups are digitizing informal trade to get thousands of merchants to operate more efficiently. This time, it

The number of POS terminals in Nigeria grew from 150,000 in 2017 to 543,000 in April 2021, according to Statista. During that period, the volume of POS payments in the country also increased tremend

Agency banking is big business in Nigeria and sub-Saharan Africa. It involves agents or merchants, who act as human ATMs, offering financial services such as transfers, savings and payouts to the unde

Nigeria has an average of 4.8 bank branches and 19 ATMs per 100,000 adults, compared to the world average of 13 bank branches and 40 ATMs. Reports also say that less than one-third of Nigerian adults