This week’s Fintech Weekly Buzz showcases continued momentum in digital finance, financial inclusion, AI, digital infrastructure, payments, and fintech innovation across Uganda, Africa, and global markets. In Uganda, financial institutions and fintech players accelerated digital transformation through cashless payment initiatives, digital banking platforms, cross-border payment solutions, housing finance partnerships, SME financing, and leadership transitions. MTN MoMo, Airtel Uganda, Stanbic Bank Uganda, NCBA Group, Centenary Bank, Ecobank Corporate and Investment Banking, and Glovo all announced initiatives aimed at improving financial access, customer experience, secure payments, and digital commerce.
Across Africa, governments, regulators, telecom operators, banks, and fintechs advanced AI adoption, digital infrastructure, crypto regulation, financial inclusion, cybersecurity, and enterprise technology. Kenya strengthened its virtual asset regulatory framework and digital inclusion efforts, while MTN Uganda, Vodacom, Safaricom PLC, Yellow Card, 4G Capital, IFC, COMESA, Smart Africa, Airtel Africa Foundation, and other ecosystem players expanded investments in fintech, connectivity, stablecoins, SME finance, and AI-powered solutions across the continent.
MoMo Uganda Unveils ‘Code Yo Maali Yo’ to Boost Cashless Boda Boda Payments
MoMo from MTN has launched the Code Yo Maali Yo campaign in partnership with the Boda Boda Union to promote cashless payments across Uganda's transport sector. The initiative encourages boda boda riders and customers to adopt MoMo Code for safer, faster, and more convenient transactions while helping riders build digital financial records that can improve access to financial services such as loans.
Phrase Lubega Assumes Leadership of MTN MoMo Uganda
MoMo from MTN UG has officially welcomed Phrase Lubega as its new Managing Director, marking a new phase of leadership focused on expanding digital financial services. Company leaders reaffirmed MTN MoMo's role in advancing financial inclusion, supporting businesses, and driving Uganda's digital economy while expressing confidence in Lubega's vision for continued growth.
Musasizi Urges Airtel to Increase Investment in Secure Digital Infrastructure
Finance Minister Henry Musasizi has called on Airtel Uganda to increase investment in secure digital infrastructure to support Uganda's digital transformation agenda. The government emphasized that stronger digital systems, improved connectivity, and continued private sector investment are essential for job creation, economic growth, and enhanced service delivery.
Ecobank Uganda, Serena Hotels Partner to Offer Exclusive Lifestyle Benefits
Ecobank Uganda has partnered with Serena Hotels to provide debit and credit cardholders with exclusive travel, dining, hospitality, and wellness benefits across selected Serena properties in Africa and Asia. The partnership aims to enhance customer value while encouraging secure digital payments and rewarding banking experiences.
Centenary Bank to Expand Digital Banking and Branch Network
Centenary Bank plans to strengthen its digital banking services while continuing to expand its physical branch network across Uganda. The bank says the strategy balances customer demand for convenient digital banking with the need for face-to-face services, particularly in underserved communities.
Read More: https://nilepost.co.ug/business/361695/centenary-bank-to-expand-digital-banking-open-more-branches
NCBA Group Posts Shs344 Billion Half-Year Profit
NCBA Group reported a 12.2% increase in first-half net profit, driven by strong lending growth, higher customer deposits, and improved regional performance across East Africa. The results highlight the group's resilience despite challenging economic conditions and reinforce its regional growth strategy.
DTB Uganda, Universal Multipurpose Enterprise Partner on Housing Finance
Diamond Trust Bank Uganda and universal multipurpose enterprises have signed a partnership to expand access to affordable housing finance. The collaboration will provide structured mortgage and property financing solutions aimed at making home ownership more accessible while supporting growth in Uganda's real estate sector.
Stanbic Uganda Launches Direct China Payments System
Stanbic Bank Uganda has become the first Ugandan bank to integrate with China's Cross-Border Interbank Payment System (CIPS), allowing businesses to make direct RMB payments. The solution is expected to simplify trade with China by reducing foreign exchange risks, lowering transaction costs, and improving payment efficiency for importers and exporters.
Glovo Pioneers AI Quick-Commerce
Glovo has introduced its AI-powered Shopping Assistant for ChatGPT and Claude, enabling customers to search, compare prices, and order products using natural language. The conversational commerce experience allows users to receive personalized recommendations, manage shopping preferences, and complete purchases more intuitively through AI.
Read More: https://nilepost.co.ug/business/360771/glovo-pioneers-ai-quick-commerce
Kenya’s New Crypto Rules Give Exchanges Right to Appeal Regulator Decisions
Kenya's finalized Virtual Asset Service Providers (VASP) Regulations now grant licensed crypto firms the legal right to appeal regulatory actions such as license refusals, suspensions, and revocations. The move strengthens regulatory transparency while providing virtual asset businesses with greater legal protection.
Read More: https://techcabal.com/2026/08/06/kenya-crypto-rules-give-vasps-appeals-right/
GodoFreda Launches to Transform Africa's Cross-Border Trade
Nigerian logistics company Aimpexx has launched Godofreda, a B2B platform that connects African businesses directly with verified global manufacturers. Combining factory verification, digital sourcing, and integrated financial rails, the platform aims to reduce fraud, eliminate middlemen, and simplify international trade.
African Banks Rethink Lending for Customers Without Credit Histories
Banks across Africa are increasingly using alternative data, including mobile money usage, telecom activity, and digital payment records, to assess borrowers who lack formal credit histories. The shift is expanding access to credit for informal workers, entrepreneurs, and underserved communities traditionally excluded from conventional banking.
IHS Shareholders Approve MTN's Full Ownership Bid
MTN Group Management Services (Pty) Ltd has received shareholder approval to acquire the remaining shares in IHS Holding Limited, moving closer to full ownership of one of Africa's largest telecommunications tower companies. The acquisition is expected to strengthen MTN's infrastructure strategy and support long-term network expansion.
Read More: https://techcabal.com/2026/08/05/mtn-wins-shareholder-approval-to-take-ihs-private/
Telkom's Digital Transformation Makes Data Its Biggest Revenue Driver
South Africa's Telkom has reached a major milestone, with data services now contributing over 62% of operating revenue. The results reflect the company's transition from traditional voice services to a business centered on mobile broadband, fibre connectivity, cloud services, and enterprise digital solutions.
Read More: https://techcabal.com/2026/08/04/telkom-data/
Safaricom Acquisition Turns Fintech into Vodacom's Biggest Growth Engine
Vodacom's acquisition of a controlling stake in Safaricom is reshaping the group's business strategy, making fintech and digital financial services central to its future growth. The deal strengthens Vodacom's presence across Africa while positioning M-PESA and digital payments as key drivers of long-term revenue and expansion.
Kenya Promotes Digital Inclusion Through Locally Assembled Devices
Kenya is advancing digital inclusion by supporting the local assembly of digital devices through the JKUAT Device Assembly Plant. The initiative aims to make technology more affordable, support Digital Hubs across the country, and expand access to digital services in underserved communities.
Kenya Advances Digital Hubs Programme with 588 Sites Nationwide
Kenya is accelerating its Digital Hubs Programme, with 588 hubs being established nationwide to expand digital access, skills development and employment opportunities. Backed by amendments to the NG-CDF Act, the initiative provides sustainable funding for community digital centres while promoting public-private partnerships to strengthen grassroots digital infrastructure and support the country's digital economy.
Tenable Launches Open-Source CyberAgents Exchange for AI-Powered Cyber Defense
Tenable has introduced the CyberAgents Exchange, an open-source platform that enables cybersecurity professionals to build, share and collaborate on AI-powered security agents, skills and playbooks. The initiative aims to improve transparency, reduce duplicated development efforts and accelerate the adoption of trusted AI tools for modern cyber defense.
Airtel Africa Foundation Expands Financial Inclusion for Women in Nigeria
The Airtel Africa Foundation has expanded its Empower Her programme in Nigeria, onboarding more than 2,000 women into the formal financial system while supporting entrepreneurship through grants and agent banking opportunities. The initiative seeks to strengthen women's financial inclusion, economic empowerment and access to sustainable livelihoods.
OPay Broadens Education Support with Miva Open University Partnership
OPay has expanded its ₦1.2 billion scholarship programme by partnering with Miva Open University, extending financial support to more students across Nigeria. The initiative reflects the fintech's long-term investment in education, skills development and the next generation of innovators and leaders.
MTN South Sudan Welcomes Amonto Girls Academy for Technology Exposure Visit
MTN South Sudan hosted students from Amonto Girls Academy at its headquarters to provide practical exposure to telecommunications, digital innovation and STEM careers. The initiative aims to inspire more young women to pursue technology-related professions while promoting digital inclusion and youth empowerment.
Gabon Postpones KIMBA Connect Finale Following Startup Concerns
Gabon's Ministry of Digital Economy has postponed the inaugural KIMBA Connect finale after startups raised concerns about the programme's organisation. The ministry says the delay will allow for a review of participant feedback and improvements aimed at ensuring greater transparency, fairness and collaboration in future editions.
Absa Bank Modernizes Credit Risk Management with SAS AI Platform
Absa Corporate and Investment Banking has modernised its credit risk management using SAS Viya on AWS, significantly reducing reporting times and accelerating model deployment. The AI-powered platform enhances lending decisions, strengthens regulatory compliance and improves governance across the bank's risk management operations.
Valu Jordan Expands with New Sweifieh Branch to Boost BNPL Access
Valu Jordan has opened a new branch in Sweifieh Village to expand access to its Buy Now, Pay Later (BNPL) services. The expansion supports the company's strategy of combining digital financial services with physical customer touchpoints to improve accessibility and customer experience.
Taara and Liquid Intelligent Technologies Expand High-Speed Wireless Connectivity Across Nigeria
Taara and Liquid Intelligent Technologies are expanding their partnership to deliver high-capacity wireless optical connectivity across Nigeria. The deployment strengthens enterprise connectivity, improves network resilience and provides an alternative to fibre infrastructure in areas where traditional connectivity is challenging.
Smart Africa and FAO Launch AI Challenge to Advance Climate-Smart Agriculture
Smart Africa and the FAO have launched the third Innovate Africa Challenge to identify AI-powered solutions for climate-smart agriculture. The initiative will support the deployment and scaling of technologies that improve agricultural productivity, climate resilience and food security across Africa.
Xara Partners Flutterwave to Deliver AI-Powered Banking on WhatsApp
Xara has partnered with Flutterwave to provide AI-powered banking services through WhatsApp, enabling customers to send money, pay bills and manage finances using text, voice or images. The collaboration expands access to conversational banking while leveraging Flutterwave's payment infrastructure to deliver secure financial services.
Yellow Card Raises $40 Million to Expand Global Stablecoin Payment Infrastructure
Yellow Card has secured $40 million in strategic funding to expand its stablecoin payment infrastructure and Global USD Accounts for businesses. The investment will strengthen cross-border payment capabilities, support business access to dollar-denominated financial services and accelerate stablecoin adoption across Africa and global markets.
