#financial services

The Nigerian stock market experienced a decline of 1.21% last week as investors opted to take profits, despite an increase in trading activity. Financial services stocks were the primary contributors to this downturn, with ten companies leading the decliners, according to Legit.ng.

Safaricom has clarified that customers using its Fuliza service can request a reduction in their overdraft limit. This announcement follows inquiries from users who were assigned higher limits than anticipated. The clarification aims to address customer concerns regarding the adjustment of their Fuliza limits, ensuring users are informed about their options.

Angelica Pesha, the CEO of MIXX, announced that the company is fully prepared to provide various financial and communication services to visitors at the 50th International Trade Fair in Dar es Salaam. During her visit to MIXX's booth at the event, she highlighted that the company has created a friendly environment for citizens to conduct financial transactions safely and conveniently without the need for cash.

Global payments platform Grey has launched local currency deposits in Kenya and Ghana, enabling users to fund their accounts in Kenyan Shillings (KES) and Ghanaian Cedis (GHS) via bank transfers and mobile money. This initiative aims to simplify access to international financial services for users in these countries.

The Nairobi Securities Exchange (NSE) has appointed Tom Mulwa as its new chairman, succeeding Kiprono Kittony, who has stepped down after six years. Mulwa, a financial services executive, will lead the exchange as it implements reforms aimed at attracting more companies, expanding retail investing, and enhancing capital formation in Kenya.

According to Josephine N. Kasekende, insurance is often misunderstood in Uganda, with many individuals having misconceptions about its purpose and benefits. The article aims to clarify these misunderstandings and provide a beginner's guide to understanding insurance and its importance in protecting valuable assets.

Integrated digital and investment ecosystems are significantly contributing to the growth of the banking sector, with digital banking platforms being pivotal in this transformation. This evolution is expected to drive the next phase of banking growth, highlighting the importance of technology in financial services.

According to Vanguard, technology has significantly transformed financial transactions in Nigeria, allowing individuals to conduct activities such as sending money, paying bills, and purchasing airtime via mobile phones without needing to visit a bank. This shift towards digital financial services is exemplified by OPay, which is playing an increasing role in facilitating access to these services as the economy becomes more digital.

Safaricom has provided guidance for M-Pesa users on how to increase their Fuliza limits and avoid reductions. The company shared tips aimed at helping customers enhance their eligibility for the Fuliza service.

Zedcrest Securities has introduced stocks trading on the Zedcrest Wealth App, allowing clients to buy and sell shares of over 150 companies listed on the Nigerian Exchange (NGX) via their mobile devices. This launch is part of Zedcrest Group's goal to enhance access to capital markets and improve connectivity in financial services.

Centenary Bank has launched Gonza Pay, a secure digital wallet aimed at enhancing financial transactions in Uganda. This initiative comes as the country experiences significant growth in digital financial services, despite a continued reliance on cash among many citizens, according to TechJaja.

The Uganda Institute of Banking and Financial Services (UIBFS) has completed the Women in Leadership Program 2026, a five-day initiative aimed at empowering women with essential leadership skills and confidence for roles in Uganda's financial sector. The program focused on equipping participants with the necessary mindset to excel in leadership positions.

The rebranding of Credable to _able highlights the importance of credit infrastructure in Africa, according to TechTrends KE. While consumers typically interact with familiar financial service brands like banks and fintechs, the underlying infrastructure remains largely unseen. The Dubai-based company believes that enhancing this infrastructure presents a significant opportunity for growth in the African financial services market.

Equity Bank has launched a new feature called Secure Float Purchase, aimed at enhancing transaction controls for customers buying float through approved agents. This feature introduces a verification framework that requires customers to pre-authorize trusted agents before transactions can occur. The initiative is a response to increasing risks of mobile money fraud, according to TechTrends KE.

According to Tech-ish, Safaricom's Ziidi funds have accumulated nearly KES 20 billion within the M-PESA platform. The report discusses the recent shift in savings, the opt-in gap for users, and the low yields associated with these funds.

Vodacom M-Pesa Tanzania has announced a new partnership with PayPal that will enable customers in Tanzania to easily transfer funds between the two platforms. This collaboration aims to enhance financial transactions for users in the country.