The Reserve Bank of South Africa has revealed that it is considering issuing a national digital currency, with Blockchain or Distributed Ledger Technology (DLT) being what it is based on. According to Tim Masela, head of the National Payments System at the South African Reserve Bank(SARB), the objective would be to take advantage...
Bitcoin’s popularity and the emergence of about 1,500 other digital coins or tokens have drawn more hackers into the red-hot cryptocurrency space, expanding opportunities for crime and fraud, cybersecurity firm Digital Shadows warned in a report on Thursday. “Cybercriminals follow the money and right now they see in the unregulated...
Standard Chartered Bank and MTN Uganda Limited on Thursday signed an agreement to allow MTN Mobile Money collections for Corporate and Business clients directly into their Standard Chartered Bank accounts on a real time basis. This solution dubbed Straight2Bank Wallet Collections will be delivered through the Bank’s Straight2Bank electronic...
According to reports by CIO kenya, on Friday 19th, January 2018 hackers have breached the National Bank of Kenya systems and managed to steal Ksh 29 million (approx. 1.025 billion UGX). In a statement, the Bank confirmed the incident stating that "indeed there was an attempt fraud in normal course of...
PayStand, the next generation B2B payment and billing company, is leveraging the blockchain in a completely new way for enterprise payments. PayStand customers now have the option to certify and notarize payments (from request to receipt) on the blockchain to ensure that the history of payments is secure, independently verifiable,...
Crypto Billionaire, Changpeng Zhao, CEO of the world’s largest crypto exchange – Binance, is set to feature on a panel at the African Blockchain Conference 2018, happening on 23 -24 May in Kampala. Held under the theme “The role of Blockchain Technology in Africa’s transformation”, is the biggest conference...
Financial services application; Ecobank app has processed 9 million transactions worth over USD$1 billion since launch less than 18 months ago across 33 African countries. The application earlier this month hit a milestone of 4 million users after the bank had revamped its app recording 3 million new users in...
With just 14% of the Ugandan population able to access grid electricity. New off-grid energy solutions have the potential to provide a lot more of the country’s currently marginalized rural population with access to affordable electricity. To date, however, funding off-grid solutions on a sufficiently large scale has inhibited the...
A recent study by Digital Impact Awards Africa (DIAA) has revealed that at least 5,000,000 regular users of mobile financial services in Uganda during a 3 months period spent 7,113,356 man hours (296,390 man days) to clear simple financial transactions and saved 57,989,660 productive hours (An average of 19,329,887 million hours a...
Making all of your purchases with a debit card is a good way to avoid spending more money than you have and racking up debt. But it's not always the smartest way to pay. In fact, using a debit card at some places or in some instances can be...