Happy new month!
The Big 5 Daily is ready.
We are excited to see the second half of 2020, in the hope that it will be better.
Before we go into the Big 5 proper, here is an extra for the new month.
Carbon, a Nigerian fintech startup has shared its 2019 Financial Report. You’ll find that it disbursed loans worth over N23.1 billion, a 76.9% increase compared to the N13 billion disbursed in 2018. This translated to over N6.3 billion generated revenue – a 68.8% YoY growth from the $3.73 billion of 2018. Other specs of the report include its launch in Kenya, a one-time investment and loan top-up features on the app, and more accomplishments. Go read for yourself.
First, on the Big 5 Daily, MFS Africa has acquired full ownership of Beyonic, another African payment service provider in the continent. The deal will have Beyonic change its name to MFS Africa and facilitate intra-state transactions between digital payment service providers via the same interface.
Moving on, the Kenya Revenue Authority has set up a unit to track all revenues generated by digital companies in Kenya. This is to ensure that all digital service providers do their due diligence and pay accrued domestic taxes in due time. The unit will also track the revenues generated by digital companies without a physical presence in Kenya.
See also: The Big 5 Daily: 26th June, 2020
According to the United Nations Global E-Waste 2020 Report, the amount of electronic waste in the world increased by 21% in 5 years. It also predicted that global e-waste discarded products with a battery will reach 74 metric tonnes (Mt) by 2030. This and more are as a result of higher consumption rates of electric and electronic equipment.
Next big news. Uber and Mastercard have joined hands to support COVID-19 front line workers across the Middle East and Africa. On its part, Uber will provide 120,000 free trips and meals to front liners that are supporting communities amidst the pandemic. Mastercard partnered with Uber to apply its technology, philanthropy, and data science expertise to support more communities in the Middle East and Africa.
And finally, the Central Bank of Nigeria has released a Regulatory Framework for payment service providers in the country. This implies that fintechs, financial institutions, and mobile money operators will need to meet the requirements of the sandbox before launching new products.
And there you go! We have come to the end of today’s edition. Leave your comments below.