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A World Bank study found that businesses receiving digital payments are more likely to access credit because transaction records help banks assess their financial activity
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The impact is strongest for small firms and businesses in low-income countries, where limited banking data often makes access to financing difficult
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Africa’s rapid growth in mobile money and interoperable payment systems could help expand credit access and support small business financing
Digital payments are becoming increasingly central to business activity, particularly for small firms. A World Bank study published in January 2026 shows they go beyond saving time — they are also associated with better access to credit.
The report, titled "Firm Credit Constraints and Electronic Payments: A Global Analysis," notes that banks will not lend to businesses whose revenues, payment habits and commercial standing remain unknown to them. In Africa, where most business-to-business transactions are still conducted in cash, many merchants and traders remain largely invisible to banks. Without sales data or a verifiable track record, they struggle to obtain credit even when their business is thriving.
The study surveyed 48,581 firms across 101 countries and quantifies the scale of the problem. Across all countries studied, 14.78% of firms have no access to external financing, while another 16.23% have only partial access. In total, more than 30% of formally registered private-sector firms worldwide are cut off from the credit they need to grow.
The unexpected role of digital payments
The report finds that firms receiving payments digitally — via bank transfer, mobile money, card or similar methods — are significantly more likely to obtain credit than those operating exclusively in cash.
The mechanism is straightforward. When a customer pays by mobile money or bank transfer, the transaction leaves a digital record: date, amount and frequency. Accumulated over months or years, these data points give banks a clearer picture of a firm's revenue streams. To some extent, they can compensate for the lack of formal accounting records that many small African businesses do not maintain.
Receiving digital payments reduces by an average of 3.3 percentage points the probability that a firm is completely excluded from credit. That is equivalent to 22% of the average exclusion rate observed in the study.
The World Bank also specifies that receiving digital payments matters more than making them. Payment inflows directly reflect a firm's sales activity and the revenue it generates. That is the information banks rely on when deciding whether to extend credit.
Smaller firms benefit the most
The effect is strongest among the smallest firms, which are often the least visible to banks. For businesses with fewer than 20 employees, the reduction in the probability of being excluded from credit reaches 4 percentage points, compared with less than 2 points for larger firms. Companies with no formal accounting systems, no declared innovation activity or low productivity also benefit more from adopting digital payments.
At the country level, the effect is even more pronounced in low-income economies and those with underdeveloped credit registries. According to the report, the impact of digital payments on access to credit is nearly three times greater in poorer countries than in wealthy ones.
Where conventional tools for assessing borrowers are lacking, a digital transaction history can serve as a credible alternative.
Africa at the heart of the transformation
Africa combines two dynamics rarely found together: limited access to formal banking services and widespread adoption of mobile payments. According to the annual report of the Global System for Mobile Communications Association (GSMA), published in March 2026, more than $1.4 trillion passed through mobile money accounts in Africa in 2025, up more than 27% year-on-year. The continent accounts for 52% of all mobile money accounts worldwide and 66% of the global value of such transactions.
These flows represent a massive reservoir of information on firms' financial health that banks have only begun to exploit. Some fintech companies are already moving in that direction. In East Africa, 4G Capital uses mobile usage data to extend loans to small entrepreneurs. In Nigeria, platforms such as Moniepoint combine digital payment collection with lending services for small and medium-sized enterprises based on their payment histories.
Interoperability remains essential
For banks to make effective use of payment data, the information must be consolidated and accessible. A merchant receiving payments through several operators generates fragmented datasets that are difficult to aggregate. Interoperability — the ability of different payment systems to communicate with one another — therefore remains a key technical requirement.
Significant progress is under way. According to the "State of Inclusive Instant Payment Systems in Africa 2025" report by the AfricaNenda Foundation, published jointly with the World Bank, 36 instant payment systems were active across Africa in 2024, processing 64 billion transactions worth a combined $2 trillion. The report highlights growing interoperability across the continent. “Half of Africa's instant payment systems (IPS) now connect banks, mobile payment operators and fintechs through cross-domain platforms,” AfricaNenda states.
In the countries of the West African Economic and Monetary Union (WAEMU), the regional central bank has set Tuesday, June 30, 2026, as the deadline for all financial institutions to join the Interoperable Instant Payment System Platform (PI-SPI), a shared instant payment infrastructure launched in September 2025. This could mark an important step toward smoother transactions and broader access to credit.
The study provides African governments with a concrete policy argument: encouraging businesses to adopt digital payments is not only a modernization strategy, but also a tool for improving private-sector financing.
Three priorities emerge from the findings: accelerating the rollout of interoperable payment systems; encouraging banks to incorporate transactional data into credit assessments; and establishing clear rules governing the use of payment data so that businesses can share it with confidence.
Melchior Koba
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Cameroon launches 20,000 smart electricity meters to improve monitoring and billing accuracy
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World Bank-backed project aims to reduce losses, fraud, and revenue leakages
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Initiative forms part of a broader $710 million electricity sector reform programme
Cameroon's Ministry of Water and Energy (MINEE) announced on Wednesday, May 27, the launch of a nationwide deployment of 20,000 smart electricity meters, a move aimed at improving consumption monitoring, reducing technical losses and enhancing billing accuracy across the country's power sector.
The project is backed by the World Bank under the Electricity Sector Reform Programme (PRSEC-PforR) and relies on Advanced Metering Infrastructure (AMI) technology capable of automatically transmitting electricity consumption data. According to MINEE, the system will enable real-time monitoring of energy use and improve the detection of anomalies, fraud and non-technical losses that have long strained the sector's finances.
Implementation is being overseen by the Programme Coordination Unit within MINEE, in partnership with Cameroon's national electricity company Socadel (formerly Eneo). Following technical trials conducted between January and February 2026, the equipment passed final acceptance in April, paving the way for a phased rollout. A data centre is also under construction in Douala to centralise and secure information collected by the smart meters.
The initiative is part of the Electricity Sector Recovery Plan (PRSEC), a broader reform agenda running from 2024 to 2026 and valued at nearly 400 billion CFA francs ($710 million). The programme is supported by 180 billion CFA francs in World Bank financing and an additional 48 billion CFA francs from the African Development Bank.
Beyond smart metering, the PRSEC includes a range of infrastructure upgrades aimed at improving service quality, including network expansion, the reinforcement of electrical substations, the replacement of more than 50,000 wooden utility poles, and the gradual migration of 1.5 million postpaid customers to prepaid meters.
For Cameroonian authorities, the digitalisation of electricity metering is a key tool for strengthening energy governance, securing operator revenues and keeping pace with rising power demand driven by the country's urban and industrial growth.
Samira Njoya
South African accelerator Savant has opened applications for its incubation program for African innovators. The initiative supports startups developing hardware-based solutions and environmental technologies, including water management and sustainable energy systems. Over three months, ten founders will refine their investor pitches and prepare their businesses for fundraising. The strongest startups will be eligible for grants of up to €80,000. Applications close on June 15, and the program is scheduled to begin in August.
Converted, a U.S.-based AI-powered advertising company, has acquired Egyptian online fashion platform Mitcha. The deal will enable the two companies to launch a tool that links digital advertising directly to in-store sales. Mitcha founder Hilda Louca will join Converted’s executive leadership team to lead the technology’s development and rollout across the region.
Applications are now open through Sunday, May 31, for the Africa-Europe Space Partnership Program. The initiative targets African companies using satellite-based Earth observation data to address challenges in agriculture, climate, and energy. Selected startups will receive a year of tailored mentorship and a €20,000 grant to help scale their innovations.
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DigiPay and Belmoney launched DigiTransfer for money transfers from Europe to Congo and the DRC
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The app enables transfers to mobile wallets and bank accounts within minutes
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The service aims to lower remittance costs and expand digital cross-border payments in Central Africa
Pan-African fintech DigiPay Group and European financial technology company Belmoney announced on Thursday the launch of DigiTransfer, a mobile application enabling money transfers from France and Belgium to the Republic of Congo and the Democratic Republic of Congo (DRC).
Available on Android and iOS, the platform allows users to send funds directly to mobile wallets and bank accounts. The two companies said transfers are completed within minutes through Visa and Mastercard networks, using Belmoney’s regulatory licence in Belgium. Belmoney is licensed as a payment institution by the National Bank of Belgium.
The launch comes amid strong growth in remittance flows from the African diaspora. According to World Bank data, remittances to the DRC exceed $3.2 billion annually. Yet transfers to sub-Saharan Africa remain among the most expensive globally. Data from the Migration Data Portal show average transfer costs still stand at nearly 8%, well above the 3% target set by the United Nations under its Sustainable Development Goals.
Fintech companies are increasingly relying on digital infrastructure and mobile wallets to reduce transfer fees and speed up cross-border payments. In Central Africa, where banking penetration remains relatively low, mobile money services are expanding rapidly and are gradually becoming a preferred channel for diaspora remittances. DigiPay said it has processed more than 4.2 million transactions across its various payment solutions since 2020.
For Belmoney, the partnership reflects the growing adoption of the Remittance-as-a-Service (RaaS) model, which allows fintechs and local operators to launch international transfer services using existing regulatory licences and payment infrastructure. The two companies said they plan to gradually expand the transfer corridor to other European countries to strengthen their presence in the Africa-bound remittance market.
Samira Njoya
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Côte d’Ivoire launched a recruitment drive for six senior digital sector positions
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The roles focus on AI, cybersecurity, digital policy and public sector digitalization
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The hires aim to support government digital transformation and expand ICT infrastructure
Côte d'Ivoire's Ministry of Digital Transition and Digitalization on Tuesday launched a recruitment drive to fill six senior positions aimed at supporting the rollout of government digital projects.
The vacancies include three specialized technical adviser roles covering innovation and artificial intelligence, cybersecurity and digital trust, and legal affairs, regulation and digital economy policy. The ministry is also recruiting a Chief Information Officer (CIO), a Director of Digital Transformation of Public Administration, and a Director of Digital Infrastructure and Postal Development.
According to job descriptions published by the ministry, the technical advisers will support the minister and the chief of staff in their respective areas of expertise. Their responsibilities will include providing technical and strategic input for decision-making, reviewing submissions to the minister's office, and helping shape the ministry's policy priorities in digital technology, artificial intelligence, cybersecurity and digital law.
The incoming CIO will be responsible for defining and overseeing the ministry's IT master plans to support the modernization and digital transformation of public administration, as well as the security of public data.
The Director of Digital Transformation of Public Administration will coordinate public sector digitalization projects and ensure their alignment with government priorities.
The Director of Digital Infrastructure and Postal Development will be responsible for designing and implementing policies to expand digital and postal infrastructure, with the aim of improving access to telecommunications and ICT services across the country.
Samira Njoya
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Ghana is deploying 3D security scanners at Accra’s main airport to speed up passenger screening
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New systems from 2026 will let travelers keep laptops and liquids inside bags during checks
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The upgrades are part of a broader push to modernize airports and position Ghana as a West African aviation hub
Ghana is deploying advanced 3D security scanners at Terminals 2 and 3 of Kotoka International Airport in Accra, as part of a broader effort to modernize border controls and improve passenger processing. President John Dramani Mahama announced the move on Monday, May 25, during the launch of the country’s new e-visa platform.
The new scanners are expected to reduce queues and shorten processing times at the terminals. Starting in August 2026, Ghana also plans to roll out new screening systems allowing passengers to keep laptops, liquids and electronic devices inside their bags during security checks. Travelers will no longer need to remove shoes or belts during inspections.
Officials said the reforms are part of a wider airport modernization program aimed at combining stronger security controls with faster passenger movement. The initiative includes advanced passenger information (API) systems and passenger name record (PNR) analytics tools designed to support intelligence-led screening.
Accra also confirmed that e-visas will be free for certain African travelers, while the digital platform will later be extended to work and residence permit applications. The investments come as traffic at Ghana’s main airport continues to rise sharply. Passenger numbers increased by about 39% to 2.5 million in 2025, from 1.8 million in 2022, according to airport authorities.
The growth is placing increasing pressure on existing infrastructure, particularly during peak periods when congestion affects check-in, immigration, security screening and baggage handling operations. To accommodate future demand, Ghana also plans to extend the runway at Kumasi Airport, build a new control tower in Accra and develop additional regional airports.
The country joins a growing number of African states investing heavily in smart airport infrastructure and digital border management systems. Morocco, Rwanda, Ethiopia and Kenya have in recent years accelerated projects involving biometric controls, digital travel platforms and passenger flow technologies.
As African aviation hubs compete more aggressively for regional traffic, the quality and efficiency of the airport experience are becoming increasingly important factors in attracting airlines, investors, tourists and international events.
For Accra, the initiative is also part of a broader strategy to position Ghana as a regional gateway for West Africa and strengthen its appeal to international businesses.
Authorities see streamlined immigration procedures, upgraded infrastructure and digital public services as key tools to support trade and mobility under the African Continental Free Trade Area (AfCFTA).
Samira Njoya
Applications for the 2026 GoGettaz Agripreneur Prize Competition are open until Sunday, June 28. The contest is open to African entrepreneurs aged 18 to 35 working to transform the food and agriculture sectors. Two winners will each receive $50,000 to help grow their businesses. Finalists will pitch their innovations at a summit in Rwanda and gain access to training, mentorship and networking opportunities with investors.
South African startup MyBitSecure is rolling out its agritech platform following a successful three-month pilot. The system uses IoT sensors to monitor soil conditions, optimize irrigation and secure farm data. Designed to integrate with existing equipment, the low-cost solution aims to support smallholder farmers and strengthen food security across Sub-Saharan Africa.
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Nigerian startup Smartcomply is expanding into the UK to support digital banks and remittance firms. Its AI-powered platform verifies customer identities, detects fraud and monitors cross-border transactions. Built around African financial data and payment flows, the technology aims to strengthen anti-money laundering compliance.
With Africa’s digital economy evolving rapidly, he is focused on helping young people develop the skills they will need in the future workforce. Through his educational programs, he works to ensure that access to technology is not limited by social or economic background.
Nzometiah Nervis Tetsop is a Cameroonian entrepreneur and technology innovator. He is the founder and chief executive officer of Nervtek, a company that promotes science and technology education among children and youth.
Founded in 2018, Nervtek has developed an ecosystem centered on hands-on learning and the creation of practical solutions through a STEAM approach combining science, technology, engineering, arts and mathematics. The organization aims to make these disciplines accessible to learners regardless of their socioeconomic background.
To achieve this, the company runs several educational programs for children and teenagers. One of its flagship initiatives is the Holiday Tech Camp, an immersive vacation program focused on digital technologies. Participants learn emerging technologies including robotics, programming, web development, cybersecurity, artificial intelligence, 3D modeling and drone piloting. The training is delivered through practical workshops and project-based activities designed to help students grasp theoretical concepts more intuitively.
Nervtek has also developed the nTron educational kit. Designed in Cameroon, the tool seeks to make science education more interactive and engaging. Using the electronic components and materials included in the kit, students can conduct experiments, build simple circuits and develop their own technology projects.
Beyond its educational programs, Nervtek also helps build a local innovation community through meetups, workshops and conferences. The organization places particular emphasis on inclusion, notably through technology camps designed for young women.
Nzometiah Nervis Tetsop earned a bachelor’s degree in electrical and electronic engineering from the University of Buea in 2020. He currently works as a technology consultant for the United Nations Development Programme (UNDP) in Liberia and for Cameroon’s Ministry of Posts and Telecommunications. He also contributes to the Projet d’accélération de la transformation numérique au Cameroun (Patnuc) as a digital policy analyst.
He is also a hardware engineer at Lead Robotics. He gained his first professional experience in 2018 as a trainee engineer at Eneo, Cameroon’s main electricity provider. In 2020, he served as head of robotics at Youth Empowerment through Science and Technology (YEST-IN), an initiative that encourages young people to support community development through science and technology.
Melchior Koba
Africa’s overworked teachers inspired him to build a tool aimed at cutting time spent on grading and administrative tasks. Through technology, he hopes to ease pressure on educators while improving how students learn.
Kabelo Mahlobogwane is a South African entrepreneur and educator. He is the founder and chief executive of The Marking App Africa, an education technology company that develops digital tools aimed at reducing administrative workloads for teachers and improving learning outcomes for students.
Founded in 2020, The Marking App Africa has gained attention for its technology that automatically grades handwritten assignments. Using a smartphone or scanner, teachers can digitize students’ work and receive instant grading alongside detailed feedback and learning recommendations. The system is designed to save teachers time and allow them to focus more on classroom instruction.
The company has also positioned itself as a broader educational platform. Its digital library provides African students with free access to more than 2,000 learning resources, including interactive games, quizzes, practice tests and online workbooks. These tools help learners track their progress over time and prepare more effectively for exams.
For schools, the platform also includes a digital attendance system and built-in communication tools. Through an internal messaging feature, teachers, students and parents can communicate in real time. An artificial intelligence-powered chatbot further supports the platform by acting as a virtual tutor for students.
Mahlobogwane earned a bachelor’s degree in African languages and linguistics from the University of Pretoria in 2016. Between 2022 and 2023, he worked as a language specialist for the municipality of Taichung in Taiwan. He later completed a master’s degree in political economy at National Tsing Hua University in 2025.
Melchior Koba
As digital channels become increasingly fragmented across Africa, customer retention has emerged as a major challenge for businesses on the continent. This entrepreneur aims to address that challenge.
Emmanuel Gbolade is a Nigerian tech entrepreneur and the co-founder and chief executive of Termii Group, a company that provides digital customer communication solutions for businesses.
Founded in 2017, Termii has developed a multichannel platform that helps businesses communicate with customers through SMS, WhatsApp, voice calls and email. The platform is designed to support rapid notification delivery, strengthen customer engagement and enhance authentication security.
Termii offers a unified system for sending critical messages such as one-time passwords, transaction alerts and security notifications. Businesses can distribute messages across multiple channels and monitor delivery performance in real time.
Beyond transactional messaging, the company also provides tools for marketing and customer engagement. Businesses can run promotional campaigns, schedule reminders and personalize communications according to customer preferences and behavior.
The startup has also integrated artificial intelligence into its customer support services. Its AI-powered tools can automatically handle routine inquiries and direct more complex requests to the appropriate teams, helping businesses reduce response times and improve support efficiency.
Gbolade graduated from the University of Lagos in 2014 with a degree in urban and regional planning. Between 2018 and 2019, he served as chief operating officer of Accounteer, a Nigerian digital financial management platform, before focusing full-time on building Termii.
Melchior Koba