Absa Group has opened a new office in Dubai as the lender seeks to strengthen investment flows between the Middle East and Africa and connect Gulf-based investors to business opportunities across the continent.The office, located at the Dubai International Financial Centre (DIFC), is expected to bring the lender closer to corporates, investors and financial institutions in the Gulf Cooperation Council (GCC) region, positioning it to facilitate cross-border trade, financing and investment.
Category: Economy&Finance
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Kapsabet Gogo over the moon after electricity connected to her home
An elderly woman in Kapsabet, Nandi County, is living her dream after his humble home was connected to the electricity grid.Affectionately referred to as Gogo, the elderly woman, tired of relying on paraffin to light her home, made her way to the Kenya Power Kapsabet office, hoping to finally have electricity.
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Ervin Lamont Cody: Meet Young Author Living In Nairobi On $1,000 A Month After Relocating From America
At one point in his life, Ervin Cody was making between $100,000 and $150,000 as a barber in Atlanta, America.He had a nice house, a car, and life was looking good.A few months later, he lost everything and, with nowhere to go, was forced to sleep in his mother’s second car.
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Kevin Kamau: From Rejecting Ksh 1M Twiga Job To Building A Farming Business Managing 5000 Acres
When Kevin J. Kamau returned to Kenya in March 2015, he expected to find a job without struggling.After all, he had studied economics and finance and spent about 10 years in Kansas City, Missouri.However, as it often happens in life, things did not go the way he expected.
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Airtel Africa revenue surges 28% to $3.82 Billion as Half-Year profit rises to $452 Million
Airtel Africa has reported a 28.2% increase in revenue to $3.82 billion for the six months ended September 30, 2026, while profit after tax climbed 20.5% to $452 million, driven by strong growth in data and mobile money services across its 14 African markets.
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Why African fintech companies are moving deeper into the services businesses need to operate
African fintech companies are expanding beyond payment acceptance as they seek to provide the financial and operational services businesses need to manage their daily activities. The move towards African fintech business services was a central discussion at Moonshot 2026, where executives from Mastercard, Remita and OPay argued that merchants need more than systems that process transactions.
The executives said businesses also require cash-flow management, customer insights, fraud reduction, reliable support and staff training. Paystack chief executive Shola Akinlade similarly placed wider business infrastructure at the centre of the company’s next growth phase, describing an ambition to address financial needs that extend beyond payment acceptance.
The discussions reflect a broader commercial opportunity for providers that already have relationships with merchants. A company processing payments can build on those transactions to offer financing, business tools and other services, giving merchants more reasons to remain within its platform.
Kenya provides a useful example of how that model is taking shape. NCBA’s LOOP DFS launched LOOP BIZ+, a merchant platform that brings together payment acceptance, working-capital loans, supplier credit and AI-powered inventory management. Its point-of-sale offering accepts card, contactless and mobile money payments, while merchant transaction histories can help determine eligibility for credit.
The product places several business functions within one platform. A merchant can receive payments, access financing and manage inventory through services connected to the same commercial relationship. That model also gives the provider a closer view of the merchant’s business activity, which can support decisions around lending and other financial products.
Absa has pursued a related approach through Absa Next, which the bank introduced in October as a digital interface bringing together banking, payments, credit, savings, investments and business finance. The platform also allows people who are not existing Absa customers to access its services.
These developments illustrate how banks and fintech companies are competing to become more central to the financial lives of businesses and individuals. Payment processing remains an important entry point, but providers can pursue additional revenue and customer relationships through lending, savings and other services.
The opportunity is particularly relevant in a market where merchants already process substantial volumes of digital payments. Safaricom reported that its M-PESA merchant network had reached 3.13 million businesses, with transaction value of KSh41.68 trillion during its 2026 financial year. That network provides a large distribution base for services built around merchant payments and transaction histories.
SACCOs are also part of the expanding digital financial services market. TechTrendsKE reported that regulated SACCO assets reached KSh1.21 trillion in 2025, as these institutions expanded their use of digital credit, payments and member transaction data. Their position in the financial lives of members gives them a route into services that overlap with those offered by banks and fintech companies.
The expansion also brings payment providers into a more demanding regulatory environment. TechTrendsKE’s coverage of the proposed National Payment System Bill described provisions that would expand the Central Bank of Kenya’s supervisory powers, including inspection, intervention and consumer-protection responsibilities.
As fintech companies take on lending and other financial activities, their role in the financial system becomes broader. A platform that once handled payments may also influence access to credit, business cash flow and the management of customer information. That makes the quality of its financial services and the way it handles merchant data more consequential.
The next stage of competition will therefore involve how effectively providers combine payments with services that solve practical business problems. At Moonshot, executives pointed to cash-flow management, fraud prevention, customer insights and merchant support as areas where businesses need more assistance. Kenya’s newer merchant platforms show how those needs are being translated into products.
For African fintech companies, the commercial proposition is becoming broader: build a relationship through payments, then use that relationship to serve more of the business.
Go to TECHTRENDSKE.co.ke for more tech and business news from the African continent and across the world.
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SA’s 80eight processes US$18m monthly as stablecoin demand grows
South African fintech 80eight now processes about US$18 million (R300 million) in transactions each month. The company attributes this to growing demand from businesses for faster and cheaper ways to move money across borders.
Founded in 2018, 80eight started out in trading and brokerage. It has since grown into a broader financial platform offering cross-border payments, foreign exchange, treasury services, and digital asset solutions, mainly for businesses.
The company operates in South Africa, the United Arab Emirates (UAE) and Europe. It combines established financial services with blockchain-enabled payment infrastructure, including stablecoins, to tackle long-standing problems with cross-border transactions.
For businesses trading across African and international markets, moving money through traditional banking channels is often slow, expensive and complex. Stablecoins are digital tokens pegged to fiat currencies such as the US dollar, and they are increasingly used as an alternative for settlement and treasury management.
80eight says its growth has been driven by demand for faster, more affordable and more flexible financial services, particularly among businesses operating across African and international markets.
Faadil Moti, co-founder and CEO of 80eight, has led the company’s shift from trading and brokerage to a wider financial platform. He has more than a decade of experience across investment management, treasury services, digital assets and financial regulation.
He co-founded the company with his brother, Zaydan Moti, who serves as creative director and oversees technology, brand development and financial innovation.
As part of its growth strategy, 80eight is developing an integrated financial ecosystem that brings together digital wallets, payment services, treasury management and stablecoin-based solutions. The company says its product roadmap aims to give businesses and consumers a more connected financial experience.
The wider 80eight group also includes 80eight Ventures, a venture studio that builds and invests in businesses across different industries.
Go to TECHTRENDSKE.co.ke for more tech and business news from the African continent and across the world.
Follow us on WhatsApp, Telegram, Twitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to info@techtrendsmedia.co.ke
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Ecobank drives women representation on Board to 55 per cent on new appointment
Ecobank Kenya has raised women's representation on its board to 55 per cent following the appointment of Risper Alaro as a Non-Executive Director, strengthening the lender's push for gender diversity in corporate leadership.Alaro's appointment, which was approved by the Central Bank of Kenya (CBK), brings the number of women on the bank's nine-member board to five, giving women a majority in the lender's top governance organ.
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New tomato grafting technology offers hope to Kiambu farmers
Kiambu County, one of Kenya’s leading tomato-producing regions, is seeking to boost crop productivity and farmers’ earnings through modern agricultural technologies as growers continue to grapple with persistent pests, diseases and limited access to quality planting materials.Tomato farmers have been facing production losses caused by soil-borne diseases, pests and changing environmental conditions, challenges that have affected yields and the profitability of the crop.
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What to expect from Jumia’s Black Friday sale this year
Kenyan shoppers will have access to deals across electronics, household appliances, beauty products and sportswear from October 30 as Jumia launches its 2026 Black Friday campaign, with the sale reflecting the growing reach of online retail beyond Nairobi.The campaign comes as Jumia’s physical-goods Gross Merchandise Value (GMV) in Kenya grew 23 per cent year-on-year in the second quarter of 2026, highlighting rising demand for online shopping.