Mo Bammeke

What a great day yesterday at Seamless North Africa, interacting with many of the key players in the Africa Payments ecosystem.   I’d like to thank my fellow panellists for what I found to be an engaging session, with some of the themes discussed including:   ➡ How banks need to accelerate, but do so whilst protecting the security of their customers data, and the integrity of the ecosystem ➡ How Fintechs have an important role to play, particularly in supporting Financial Inclusion, but they need to do so safely and securely, and where appropriate under the supervision of a regulator ➡ How the introduction of Account to Account payments is transforming the payments landscape in Egypt, with AI and Biometrics emerging now as the next wave of transformation to positively impact consumers and businesses in the country   I’m sure Day 2 will prove to be as interesting and insightful for everyone attending. #AfricanPayments #Innovation #enza

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Mobile Money Operators in Nigeria Process N41.5 Trillion in Transactions in Seven Months, Poised for Record Year Data from the Nigeria Inter-Bank Settlement Systems PLC (NIBSS) reveals that licensed mobile money operators in Nigeria, including Palmpay, OPay, and 15 others, processed transactions worth N41.5 trillion between January and July this year. This marks a significant 74% increase compared to the N23.9 trillion recorded during the same period last year. Read more👇 #mobilemoneyoperators #mobilemoney #NIBSS https://lnkd.in/d6CZSxTY

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Ocorian has added a FinCrim module to its AML compliance tool. Read the full article here: https://lnkd.in/ed87cMjg #alternativeassets #finance #operations #privateequity #venturecapital #assetmanagement #AML #KYC #onboarding #financialcrime #FCA

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"The African diaspora in the UK, estimated at over 1.8 million people, represents a significant demographic with untapped potential." - Babs Ogundeyi, Group CEO and Founder of Kuda. While geographic #expansion for a #fintech can be seen as the benchmark of success, Babs knows the importance of building a loyal customer base within a niche market. Understanding the #African diaspora, especially in places such as the UK, will enable Kuda to grow sustainably and have lasting #impact. Check out the full piece via UKTN 👇 https://bit.ly/3UnPOmc #Entrepreneur #Founder #Growth #Innovation #Insight #Startups #Scaleups #Technology

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In a recent interview with BIZWEEK, Ashvin Deena, FCA, CFA, Head of Global and International Corporates (GIC) at MCB, shares insights on the pivotal role of the GIC in delivering best-in-class banking services to regional players in Africa. From trade and acquisition financing to transactional and treasury management solutions, learn how we support investment funds, large African corporates, and multinational companies. 👉 Read more: https://lnkd.in/d_5XscjY

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Hear from our impressive lineup of speakers including Ing. Dr. Kenneth Ashigbey and Prince Kofi Osei at our breakfast session on Accelerating Digital Transformation in Ghana’s Financial Services Industry. Our panel of experts will be sharing insights and practical solutions for overcoming critical hurdles within Ghana financial services space including: - Optimizing costs in a fluctuating FX environment - Scaling your infrastructure for growth without limitations - Ensuring data security and compliance in a rapidly evolving landscape - Building redundancy for seamless disaster recovery

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Guaranty Trust, a Nigerian financial services group, has kicked off the process of raising ₦400 billion to meet new capital requirements. In a presentation on Monday, CEO Segun Agbaje cited the bank’s operational efficiency and goal to hit $1 billion in profit as compelling incentives for investors. “₦370 billion of the total capital raised will be used for growth and expansion of the banking business (including recapitalistion) with a plan to “aggressively” roll out more branches in the next year. With 35 million retail customers and 2.9 million SME customers, GTCO believes the Nigerian banking sector is still significantly underserved. “It will also expand to new countries and grow existing subsidiaries like Ghana, Cote d’Ivoire, and Kenya. Despite these plans, the company will take a cautious approach to opening new subsidiaries.” Via TechCabal. https://lnkd.in/dztwSF4H

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Meet Metumo Shilongo Caveat panel member and expert in Banking and Finance Metumo was admitted in 2015 and brings a wealth of experience from both the UK and South Africa. His expertise spans Financial Services Regulations, Prime Brokerage (regulatory and collateral aspects), Banking and Finance, Payments Law, Digital Assets and Fintech. Whether you’re navigating complex financial regulations or exploring the world of digital assets, Metumo is here to provide top-tier insights and guidance. Reach out to Metumo and our expert team for the legal advice that you need: https://lnkd.in/dkQ_prNE #Caveat #Legal #Law

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💡 Compliance Insight: The FCA's £16.7 million fine against Metro Bank highlights critical lessons for financial institutions. From robust governance to timely remediation, discover how your firm can strengthen its AML controls and avoid costly mistakes. Read our full analysis here: https://lnkd.in/dw7eMH7x #FinancialCrime #AML #FCA

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Central Bank of Nigeria Withdraws Cybersecurity Levy, Issues Directive to Banks The Central Bank of Nigeria (CBN) has rescinded its directive for banks and other financial institutions to charge a cybersecurity levy on electronic transfers. This decision came after the House of Representatives last Thursday requested that the CBN retract its circular mandating all banks to impose a 0.5 percent cybersecurity levy on all electronic transactions in the country. Read more 👇 #cybersecurity #CBN #centralbankofNigeria #cybersecuritylevy

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The Bank of Ghana's recent rollout of digital credentials for international trade and CBDC payments marks a significant milestone in global finance. Collaborating with the Monetary Authority of Singapore, this pilot project exemplifies the transformative power of digital credentials in overcoming trade barriers, particularly for SMEs in developing countries. Digital credentials are not just a local innovation but a global necessity, driving economic growth by ensuring trust and efficiency in cross-border transactions. As we continue to witness such advancements, it becomes clear that digital credentialing is the future, enabling seamless, secure, and verifiable interactions across the globe. https://lnkd.in/dC29j8Er #DigitalCredentials #GlobalTrade #FinTech #Blockchain #DigitalTransformation #EconomicGrowth #SMEs #Innovation #Finance #CBDC

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Surge in Digital Lending: 320 Companies Now Approved to Offer Loans to Nigerians Amid Economic Hardship The number of companies authorized to provide digital loans in Nigeria has surged to 320 in September, up from 284 in May, as demand for quick loans continues to rise amid economic challenges. The surge in applications for loans, which have quadrupled this year, highlights the growing reliance on digital lending platforms. Read more👇🏻 https://lnkd.in/eezNWXtf

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Why Strong AML Compliance is Good Business for South Africa’s Financial Sector AML compliance isn’t just about avoiding fines—it’s about building trust and resilience in South Africa’s financial industry. With FATF’s greylisting still impacting our market, the pressure is on for businesses to adopt robust AML frameworks. Here’s how AML benefits your business: 1️⃣ Enhanced Trust: Clients and investors are more likely to choose institutions committed to compliance and integrity. 2️⃣ Reduced Risks: Proactively identifying and addressing risks strengthens your defences against financial crime. 3️⃣ Reputational Strength: Effective compliance keeps your brand credible, even in a high-risk environment. Is your AML strategy adding value to your business? Share your thoughts below. 👇 #AML #Compliance #FinancialIntegrity #SouthAfrica #RiskManagement

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Unity Trust Bank Appoints New Head of Financial Crime Read more: https://lnkd.in/d8QZdawi #UnityTrustBank #FinancialCrime #Leadership #Banking #finance #fintech #FinancialIT

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#CardPayments & #RealTime - It's great to see these terms finally coming together! Kudos to Mastercard & ACI Worldwide on launching this initiative in #SouthAfrica - look forward to hearing more about the actual settlement efficiencies gained by the merchants! Highlights below ICYMI.. more details and comments most welcome! - South Africa will be the #first market in the world to benefit from the #security and #speed of #ImmediateMastercardCardPayments. - For the first time, all merchants in South Africa who accept Mastercard payments will receive #fasterpayouts, empowering businesses with better cashflow management and faster #fundsavailability. - The enhancements and new standards will enable #sameday payouts for South African merchants through the introduction of #realtime clearing and more frequent #settlement cycles - In the future, Mastercard will enable issuing banks in South Africa – and around the globe – to process real-time card payments, empowering consumers with increased #transparency, #FasterPayments, and #RealTimeInsights into their funds - Together with #ACI, #Mastercard will empower acquirers in South Africa to quickly and easily adopt #RealTimeTransactionProcessing #standards

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