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Angus Gibb joins Diebold Nixdorf as senior regional manager for sub-Saharan Africa to drive growth in banking solutions. (Image source: Diebold Nixdorf)

Diebold Nixdorf, a global leader in automating and transforming banking and shopping experiences, has announced the appointment of Angus Gibb as senior regional manager for sub-Saharan Africa

Based in Johannesburg, he will focus on driving the company’s growth strategy for banking solutions in the region.

With nearly 25 years of experience in senior sales and marketing roles within the financial services industry, Angus possesses extensive expertise in technologies that promote financial inclusion, particularly across Africa. His background equips him with a deep understanding of the critical value drivers for financial institutions, as well as emerging trends in payments, branch and cash transformation, digitisation, artificial intelligence, and the transition to cloud-based technologies. Angus will leverage Diebold Nixdorf’s solutions to navigate this complex landscape.

Before joining Diebold Nixdorf, Angus served as Market Engagement Director for a tech startup, where he provided a cloud-native platform engineering solution to enterprises aiming to modernize their technology without the need for extensive skill sets. He has also held senior consulting and director roles, helping major financial institutions effectively market insurance and other financial products to mass markets through various direct marketing channels.

Kenya has established itself as a leader in mobile financial services and digital innovation. (Image source: GSMA)

The latest GSMA report, Driving Digital Transformation of the Economy in Kenya, projects that by 2028, Kenya's digital economy will contribute KSH 662 billion (approx. US$5.15bn) to its GDP

This growth, driven by strategic policy reforms, will accelerate digitalisation in key sectors like agriculture, manufacturing, transport, and trade. The report also forecasts the creation of 300,000 jobs and a KSH 150 billion (approx. US$1.17bn) increase in tax revenues.

Kenya has established itself as a leader in mobile financial services and digital innovation. The government, through Kenya Vision 2030 and the Bottom-Up Economic Transformation Agenda (BETA), recognises digitalisation as a cornerstone of its economic strategy. The GSMA study highlights the economic potential of expanding digital adoption and provides a roadmap to maximise these gains through targeted policies.

To maintain momentum, Kenya is focusing on digitalisation to diversify the economy, increase productivity, and create high-quality jobs, especially for the youth and rural populations. Digitalisation is seen as key to driving economic growth, increasing government revenues, and boosting socio-economic development.

Introducing the digital Africa index

In addition to the report on Kenya’s digital economy, the GSMA launched the Digital Africa Index (DAI), which assesses digital adoption and usage across Africa. The index aims to support policymakers by identifying areas for improvement to accelerate digital transformation. Kenya ranks among Africa’s top performers, underscoring the importance of progressive policies that have enabled mobile broadband adoption and innovation.

With Kenya scoring above 50, the DAI highlights its potential for growth. It also works alongside the Digital Policy and Regulatory Index (DPRI), identifying policy bottlenecks and offering benchmarks for countries aiming to boost their digital economies.

Digitalisation’s impact on economic growth

The GSMA report reveals that digitalisation in key sectors, which account for 58% of Kenya's GDP, will drive significant economic contributions by 2028, creating jobs and boosting tax revenues. In 2023, Kenya’s mobile ecosystem contributed KSH 1.2 trillion (approx. US$9.23bn) to GDP and KSH 212 billion (approx. US$1.65bn) in government revenues. However, the report highlights remaining gaps that must be addressed through bold policies to stimulate demand, reduce supply costs, and encourage investment in telecom infrastructure, mobile money, and digital services.

Closing the Internet Gap

Despite 99% of the population being covered by 3G and 98% by 4G, only 33.5% of Kenyans use mobile internet, leaving a substantial gap. The GSMA projects that this gap could shrink from 63% to 46% by 2028, bringing 1.5 million new users online and increasing mobile money adoption.

Smartphone fffordability and digital inclusion

A separate GSMA report, Barriers to Smartphone Adoption: Kenya Case Study, examines how improving smartphone affordability and access could enhance digital inclusion. While Kenya has extensive mobile coverage, high device costs prevent many from adopting smartphones. The report recommends policy measures such as tax cuts and device financing options to help millions more Kenyans access mobile internet services by 2028. Improving smartphone access would close the internet gap and increase mobile money usage, driving financial inclusion.

Angela Wamola, GSMA Head of Sub-Saharan Africa, noted, “Kenya has made remarkable strides in expanding mobile coverage and services. However, substantial gaps persist. Bold policy initiatives are necessary to boost demand, lower supply costs, and foster investment in digital infrastructure. Such measures promise broad benefits beyond mobile, catalysing productivity across all sectors and generating myriad employment opportunities for Kenya.”

Mukuru launches its digital wallet in Malawi, offering secure, seamless money transfers and boosting financial inclusion across the country. (Image source: Adobe Stock)

Mukuru, a leading global financial services platform known for its advanced fintech solutions, has introduced the Mukuru Wallet in Malawi

This launch aligns with Mukuru's strong dedication to the Malawian market and addresses the rising demand for digital value storage among cash-reliant citizens who trust the Mukuru brand

The Mukuru Wallet aims to meet the increasing need for a convenient, secure, and efficient way to manage finances and facilitate money transfers. It allows users to send and receive funds both domestically and internationally, as well as store, save, and earn interest on their balances.

Mobile wallets are becoming an essential tool across Africa, offering a reliable solution for underserved and unbanked populations to access financial services. In Malawi, the Mukuru Wallet provides an alternative way to access formal banking services in both urban and rural areas.

The Reserve Bank of Malawi's (RBM) National Payment Systems report for December 2022 highlighted a 14.1% rise in mobile money users, reaching 12.2 million from 10.7 million in 2021. Pride Chiwaya, Mukuru’s country manager for Malawi, noted that this growing demand prompted the launch of the wallet.

“Mukuru is committed to driving financial inclusion, and this wallet, in response to the growing demand for money transfers, builds on the trust we have established through our growing orange booth and branch network. In addition to this, we are becoming a preferred partner for businesses and organisations in Malawi that are increasingly seeking innovative, secure and efficient payment solutions. Our mission is to equip these institutions with reliable financial tools using our extensive network,” Chiwaya stated.

The Mukuru Wallet is tailored specifically for the Malawian market and includes two features called “Nyanja” and “Moyo.” The “Nyanja” pocket handles domestic transfers and deposits, while the “Moyo” pocket is dedicated to receiving international money transfers. A notable advantage for users is the absence of withdrawal fees from the Moyo pocket.

Mike Cook, Mukuru's head of wallet and card, added, “In addition to this, customers earn interest on the funds in their wallet on a quarterly basis,” emphasising that this encourages users to embrace digital money, thereby advancing their journey toward financial inclusion.

Cook further explained that customers, who traditionally withdraw international transfers to cover their expenses, will now receive these funds directly into their Mukuru Wallet, ensuring a smoother and more convenient process. This digital solution not only provides a safe and secure way to store money but also allows users to pay bills directly from the wallet, reducing the risks of carrying large sums of cash. As Cook stated, “Essentially, this is what financial inclusion is – providing people with the platform to be included in the mainstream economy.”

The Mukuru Wallet launch is a crucial part of Mukuru’s broader strategy to become a leading payment platform, helping emerging consumers transition from cash to digital solutions. "Importantly, it's a critical component in the business’ drive towards digital transformation in Malawi, which involves modernising financial services, enhancing user experience, and promoting financial inclusion.

These efforts collectively contribute to a more digital, efficient, and inclusive financial ecosystem in Malawi, and Mukuru takes pride in being a part of this,” said Cook.

Safaricom launches M-PESA Ratiba, allowing users to set standing orders for recurring payments directly from their mobile wallets. (Image source: Adobe Stock)

Safaricom has launched M-PESA Ratiba, a groundbreaking feature within its mobile money platform, M-PESA

This new capability allows users to establish standing orders directly from their M-PESA wallets, enabling automatic and seamless payments for recurring transactions and bills.

The feature enables users to schedule transfers from their wallets on a daily, weekly, monthly, or annual basis. These payments can be sent to individuals or used for recurring expenses like bills or subscriptions. Key advantages include a hassle-free setup process and the absence of penalties for failed or cancelled transfers due to insufficient funds.

Safaricom remains committed to enhancing lives by delivering tailored digital financial services and experiences. M-PESA Ratiba is designed to provide customers with worry-free, digital payment solutions for their regular transactions and bills. According to Peter Ndegwa, CEO of Safaricom, “This innovation, the first of its kind to bring standing orders to the convenience of mobile devices, plays a key role in enhancing financial inclusion among the underbanked population while advancing the country’s progress towards a cash-lite economy.”

M-PESA Ratiba is expected to significantly impact subscription services, unlocking opportunities in sectors such as media, entertainment, technology, healthcare, education, and e-commerce. It also promises to enhance customer experiences in the financial services space. With M-PESA Ratiba, users can effortlessly manage regular payments, including rent, school fees, insurance, newspaper subscriptions, utility bills, and support for loved ones.