Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Only 12% of Moroccans use mobile money, ranking the country among Africa’s lowest adopters, according to Afrobarometer. Regulatory hurdles, reliance on traditional banking, and digital divides have slowed uptake, with continued heavy cash usage highlighting challenges to financial inclusion.
MAM Telecom, a Ugandan fintech focused on solving mobile money float shortages, has been selected for FasterCapital’s EquityPilot program to raise $5 million in seed funding. The startup is building East Africa’s first 24/7 digital liquidity platform to provide instant mobile money float to agents and merchants. The funding will support licensing, technology, reserves, hiring, and nationwide rollout starting in 2026. The initiative addresses a major gap in Uganda’s fast-growing mobile money economy.
bKash now processes 5.2% of global mobile money transactions, cementing Bangladesh’s leadership in digital financial inclusion. With 82 million users and expanding innovations, it continues to redefine financial access for underserved communities worldwide.
pawaPay and Airtel Money Africa expand inbound remittance services across seven countries, enhancing cross-border payments with real-time mobile wallet transactions to over 161 million users. The partnership aims to boost financial inclusion and simplify payments across Africa.
Network International and Blu Penguin partner to integrate mobile money payments on N-Genius terminals in Ghana, enhancing financial inclusion and offering unified, seamless payment solutions for merchants and consumers. This initiative supports the expansion of digital payments across Sub-Saharan Africa.
Mobile phone ownership in Nepal exceeds 80%, yet only 6% use mobile money. Despite this, mobile money drives formal savings growth amid persistent gender and access gaps. Digital finance and financial inclusion show promise for empowerment and economic development.
Bank Alfalah and Warid Telecom have launched Mobile Paisa, a mobile money service in Pakistan. The service enables secure money transfers and utility bill payments. Supported by technology from Fundamo and Monet, Mobile Paisa aims to enhance convenience and security for everyday financial transactions across the country.
Bangladesh leads mobile money adoption in South Asia, with 224.5 million registered users in 2023. Mobile financial services like bKash are driving financial inclusion, facilitating remittances, and offering a range of services. The sector has shown remarkable growth, with mobile money contributing to economic development and financial access for all.