DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 814

Chipper Cash Partners With Western Union And Zoona to Launch International Money Transfers in Zambia

By
Ojukwu Emmanuel
-
0

Chipper Cash, a payments platform that allows users to send and receive money, has announced a partnership with Western Union and Zoona Transactions Zambia Limited to introduce international money transfer services through the Chipper Cash app in Zambia.

This service will enable Zambian customers to send and receive money globally, tailored to their convenience and needs.

Zoona, a leading Zambian fintech and payments platform acquired by Chipper Cash in 2022, joins forces with Chipper Cash to serve 5 million customers across Africa. The partnership leverages Western Union’s 175 years of global money transfer expertise and network spanning over 200 countries, combined with Chipper Cash and Zoona’s local payments knowledge and innovative mobile technology.

Chipper Cash app users in Zambia can now send funds to mobile wallets worldwide, access cash pick-up at hundreds of thousands of global locations, with bank account payouts launching soon.

Also, the service caters to Zambia’s diverse financial needs. Users can send money to support family abroad or receive funds from loved ones, regardless of banking status. This aligns with the shared mission of Western Union, Zoona, and Chipper Cash to make financial services accessible to all. In Zambia, where many lack traditional bank accounts, mobile apps like Chipper Cash bridge the gap.

Speaking on the partnership, Mohamed Touhami el Ouazzani, Western Union’s?Regional Vice President of Africa said,

“Zambia’s digitally savvy population of over 20 million is driving a remarkable shift toward mobile-first financial solutions. Integrating our international money transfer services in the Chipper Cash app means customers can transfer funds across our global network – reliably and with ease. I am delighted that, together, we are expanding the possibilities for Zambians to connect, transact and thrive in the global economy.”

Customers can fund Western Union transactions using their Chipper Cash wallet, which can be topped up via retailers, mobile network operators, banks, and ATMs.

Also commenting, Brett Magrath, CEO at Zoona and CPO at Chipper Cash.

“At both Zoona and Chipper Cash, we’ve witnessed firsthand the incredible evolution of Zambia’s financial landscape, from the early days of cash-based transactions and agent networks to a thriving ecosystem of mobile and digital payments. This partnership marks the next chapter in that journey. With smartphone adoption on the rise, there’s an increasing appetite for digital financial services that move beyond USSD to deliver richer, app-based experiences. This partnership extends the reach of Zambia’s vibrant fintech ecosystem, connecting more users to global financial services through a seamless digital experience.”

The launch of this service, comes at a crucial time for the Zambia economy. In recent times, Remittances have played a vital role in Zambia’s economy, supporting household consumption, education, healthcare, and investments. These are funds sent by Zambian migrants, primarily to family and friends, often from countries with significant Zambian diaspora populations. In 2021, remittances were estimated to contribute significantly to Zambia’s GDP, with personal remittances received accounting for a notable share of foreign exchange inflows.

This recent collaboration enhances Western Union’s physical presence in Zambia while advancing the shared mission of Western Union, Zoona, and Chipper Cash to provide accessible financial services to all Zambians, regardless of banking status.

Google Signs EU’s AI Code of Practice as Meta Backs Out, Deepening Rift Over Regulation

By
Samuel Nwite
-
0
The US is after Google also

Google has confirmed it will sign the European Union’s general-purpose AI code of practice, a voluntary framework meant to help developers of powerful AI models align with the bloc’s upcoming AI Act.

The move sets Google apart from Meta, which earlier this month refused to endorse the code, calling it overreaching and harmful to Europe’s AI prospects.

The decision by Google comes just days before August 2, when new EU rules for providers of “general-purpose AI models with systemic risk” are scheduled to take effect. These rules apply to major players like Google, Meta, OpenAI, Anthropic, and others building or deploying large-scale generative models. While the AI Act gives these companies two years to fully comply, the EU code of practice acts as a transitional mechanism to encourage best practices ahead of enforcement.

In a blog post published Wednesday, Kent Walker, Google’s President of Global Affairs, acknowledged that the final version of the code was an improvement from the original draft, but said the company still holds “serious reservations.” He warned that the AI Act and its accompanying code could hinder innovation, citing concerns over deviations from EU copyright law, slowed approval timelines, and exposure of proprietary trade secrets.

“We remain concerned that the AI Act and Code risk slowing Europe’s development and deployment of AI,” Walker wrote.

Despite those reservations, Google is going forward with its commitment to sign the code, making it one of the first among the world’s top AI firms to publicly declare support for the EU framework. Signing the code binds AI developers to a list of expectations, including keeping updated documentation on their AI models, avoiding the use of pirated content in training datasets, and responding to content owners who do not wish to have their work used to train AI.

Meta’s refusal to sign has drawn a sharp line within the AI industry. The company described the code as legally questionable and accused the EU of creating obligations that go beyond the AI Act’s legal framework. Meta also criticized what it called Europe’s “wrong path on AI,” arguing that such regulations may discourage companies from building foundational AI systems in the region. This sentiment reflects broader tensions between U.S. tech giants and European regulators, especially as the EU takes the lead globally in attempting to place guardrails on AI.

The EU’s AI Act itself is a sweeping risk-based regulation. It bans certain “unacceptable risk” uses of AI, including manipulative behavioral systems and social scoring, while placing strict controls on “high-risk” applications like facial recognition, biometrics, education, and employment. Developers of such systems will be required to register their models, conduct risk assessments, and meet transparency and quality management obligations. Violators face stiff penalties, including fines of up to 7% of global turnover.

While the code of practice is not legally binding, it offers a glimpse of how the EU plans to interpret and enforce the broader rules of the AI Act. Companies that sign the code are expected to benefit from greater legal clarity and reduced regulatory friction, particularly during the transition period before the full force of the law kicks in.

Google’s decision to align with the EU—despite ongoing misgivings—signals a cautious but strategic embrace of regulatory cooperation. Meta’s defiance, on the other hand, highlights deep industry fractures over how best to balance innovation with accountability in the fast-evolving AI space.

It is not clear for now whether other U.S. firms like Microsoft, OpenAI, or Anthropic will follow Google’s lead or side with Meta. What’s clear is that the EU’s push to rein in AI through comprehensive rules is no longer theoretical. The regulatory future is arriving, and companies must now choose their path.

Unlock Your Potential with Tekedia Mini-MBA: Where Knowledge Meets Business Execution

By
Ndubuisi Ekekwe
-
0

Imagine the thrill of a perfectly aimed penalty kick. Yes, that moment of precision, power, and ultimate goal, to win a trophy. That’s the same feeling you’ll get when you equip yourself with the knowledge and skills from Tekedia Mini-MBA, propelling your career and business towards undeniable success.

The Tekedia Mini-MBA Edition 18 is a dynamic 12-week online innovation management program, meticulously designed to elevate your understanding of business execution and growth, all within a crucial digital framework. Running from September 15 to December 6, 2025, this program is themed “Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies.”

You will get a manual titled “The Dangote System: Techniques for Building Conglomerates” which will open your eyes on the physics of building enduring wealth.

Why Tekedia Mini-MBA?

  • Flexible Learning: All course content is self-paced, recorded, and archived, offering you the flexibility to learn at your convenience, no matter your schedule.
  • Comprehensive Curriculum: Dive deep into a wide array of critical business topics including Innovation, Design Thinking, Business Systems & Processes, Exponential Technologies, Marketing, Sales Management, Law, Leadership, and much more. Each week builds on the last, ensuring a holistic understanding of modern business landscapes.
  • Global Faculty & Engagement: Learn from a global faculty coordinated by the esteemed Prof. Ndubuisi Ekekwe. Engage directly with faculty and guests through “Tekedia Live” – optional Zoom sessions held thrice weekly (Tues, Thurs, Sat at 7 pm WAT), with all sessions archived for your convenience.
  • Practical & Applied Knowledge: The program is packed with videos, flash cases, challenge assignments, labs, and written materials, ensuring a practical and hands-on learning experience that goes beyond theoretical concepts.
  • Industry-Agnostic: Whether you’re in tech, finance, healthcare, or any other sector, the principles taught are universally applicable, designed to foster innovation and growth in any industry or firm.
  • Certificate of Achievement: Upon successful completion, you will be awarded a certificate of achievement by Tekedia Institute, Boston USA, a testament to your newly acquired expertise.

Invest in Your Future – Flexible Pricing Options!

Take advantage of early bird pricing until Aug 2, 2025.

  • “MINI” Package: Includes the Tekedia Mini-MBA and WhatsApp School for just US$170 or N120,000.
  • “MINF” Annual Package: For those committed to continuous growth, this package offers 3 consecutive MINI programs, 2 optional capstones, and annual access to Blucera.com and the Tekedia Daily podcast for $340 or N180,000.

Optional add-ons like homework review and a Tekedia capstone research paper are also available to enhance your learning journey.

Don’t miss out on this opportunity to transform your business acumen and kickstart your path to becoming a category-king!

Enroll today and take that decisive penalty kick towards unparalleled success with the Tekedia Mini-MBA. Visit https://school.tekedia.com/course/mmba18/ for more details and to register.

Afriex Expands Into Asia’s Largest Remittance Markets to Power Cross-Border Payments For African Traders And Diaspora

By
Ojukwu Emmanuel
-
0

Afriex, a money-transfer platform that allows users to make instant and affordable money transfers locally and abroad, has expanded into Asia’s three biggest remittance markets, China, India, and Pakistan to meet rising demand for seamless cross-border payments.

The move strengthens Afriex’s position to serve African merchants and diaspora communities engaged in foreign trade or sending money home.

Speaking on the expansion, Afriex’s co-founder and CEO Tope Alabi said,

“Our money transfers to India and Pakistan are instant, just like sending money to a friend or paying your Uber driver, and 90% of our transactions are completed in under two seconds. Although on China’s side, we are not yet at the same level of instant, but we’re getting close.”

Asia’s remittance market is a critical component of the global financial landscape, driven by high migration rates and the economic contributions of diaspora communities.

The global remittance market was valued at approximately USD 796.74 billion in 2023 and is projected to reach USD 1,334.69 billion by 2032, with a CAGR of 5.9%. Asia-Pacific holds the largest share, accounting for a significant portion of global inflows due to its high migrant population.

In 2022, Asia received USD 302.1 billion in remittances, the largest share of the global total of USD 682.6 billion. The Asia-Pacific digital remittance market was valued at USD 49.85 billion in 2018 and is expected to reach USD 269.78 billion by 2026, with a CAGR of 23.5%, driven by mobile money ecosystems and digital platforms.

India alone received $120 billion in remittances in 2023, followed by China with $50 billion and Pakistan with $27 billion three of the world’s top five recipient countries.

Afriex’s expansion to Asia’s biggest remittance markets comes amid a global surge in cross-border payments, fueled by migration, trade, and remote work. This move reflects the startup’s ambition to bridge financial connectivity between Africa and Asia, driven by increasing trade, migration, and global payment trends.

Afriex’s entry will facilitate smoother money transfers between Africa and Asia, benefiting African traders importing from Asia and diaspora communities supporting families.

Afriex was founded in 2019 by Alabi and John Obirine to fix a broken system where cross-border transfers were slow, expensive, and unfair. The company began as a simple MVP for friends and family.

Currently, the startup enables users to send and receive money in local currencies between Africa and other regions without relying on traditional payment rails like SWIFT. Its multi-currency payment infrastructure settles transactions in real time through a mobile app integrated with local banks.

Afriex enables real-time, low-cost money transfers through its mobile app, bypassing traditional systems like SWIFT. It waives fees on transfers above USD 10, earning revenue via foreign exchange spreads, and integrates with local banking systems for seamless settlements.

Afriex’s services target African traders and global diaspora populations that import goods or support families across these markets. To encourage adoption, Afriex waives transaction fees on transfers above $10, generating revenue from foreign exchange spreads.

The company currently has over 600k active users, serves over 50+ countries, and is backed by leading investors which include Y Combinator, Dragonfly, Sequoia Capital, and GoldenTree Asset Management.

Afriex aims to achieve instant payments to China by the end of 2025, matching its capabilities in India and Pakistan. The company partners with local firms in each country to navigate regulatory requirements efficiently.

The startup joins other African fintechs expanding globally, which include Flutterwave, which entered India through a local banking partnership in 2023, and LemFi, which secured $53 million in 2025 to scale operations across Asia and Europe. However, its focus on African-Asian corridors differentiates it, offering tailored solutions for underserved trade and remittance routes.

Notably, while its approach has evolved over the years, the company’s long-term goal is to build a global bank that enables people to send money to anyone instantly.

Business Financing and Unlocking Corporate Credit in Africa | Tekedia Mini-MBA

By
Ndubuisi Ekekwe
-
0

Access to business financing remains a critical challenge for many enterprises in Africa. Despite the continent’s entrepreneurial spirit and a growing pool of SMEs, traditional financing systems often exclude these businesses due to high collateral demands, limited credit histories, and fragmented financial markets. This exclusion stifles innovation and scalability, leaving many promising ventures underfunded and unable to expand. Informal financing still dominates, but it lacks the structure and sustainability necessary to drive long-term growth.

To unlock corporate credit across Africa, stakeholders must build robust credit infrastructure, deepen financial inclusion, and embrace innovative models such as fintech lending, invoice factoring, supply chain finance, and credit guarantees. Credit bureaus and digital identity systems can improve creditworthiness assessments. Public-private partnerships and regulatory reforms must also support more transparent and accessible lending ecosystems. By rethinking credit mechanisms and reducing structural barriers, Africa can catalyze entrepreneurship and industrial growth across its markets.

Tomorrow, at Tekedia Mini-MBA, Abeeb Ogunsola, CEO of Evea, a pioneering corporate credit company in Nigeria will educate on this, explaining the core difference between using a corporate credit card and a business loan – and how the firm has been funding companies via credit.

Thur, July 31 | 7pm-8pm WAT | Business Financing and Unlocking Corporate Credit in Africa – Abeeb Ogunsola, Evea | Zoom link https://school.tekedia.com/course/mmba18/

1...813814815...7,994Page 814 of 7,994

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy