Small and medium enterprises account for 80 per cent of the African economy but remain less competitive due in part to lack of a platform which accommodates digital cross-border payments by SMEs. To address this, COMESA Business Council has been making consultations with stakeholders on the establishment of a regional digital common payments policy which would inform the proposed digital integrated retail payment scheme for SMEs. Sandra Uwera, CEO, COMESA Business Council joins CNBC Africa for more.
In order to increase the number of companies utilizing the capital market; the Capital Market Authority has proposed a strategy to attract more SMEs. The Capital Market Investment Clinic is designed to help SMEs become investor ready and encourage an increase in the number of listings on the Rwanda Stock Exchange. CNBC Africa's Tesi Kaven filed this report.
Rwanda’s largest bank by assets, Bank of Kigali is to avail more than $5 million in form of grants to small and medium enterprises to support the perseveration of employment and jobs affected by the COVID-19 pandemic. CNBC Africa spoke with Santos Musonera, Head of Business at Bank of Kigali for more.
The 2020 Mastercard Gig Economy Industry Outlook report indicates that there is rapid development of the global Gig Economy, projecting double-digit annual growth for the industry over the next five years. CNBC Africa spoke with Ngozi Megwa, Senior vice President, Digital Partnerships, Middle East and Africa at Mastercard on the purpose of the study and the impact this fast-growing industry has on the East African economy.
Mastercard has launched Fintech Express designed to facilitate emerging fintechs’ launch and expansion in the Middle East and Africa. With the power of partnerships and Mastercard’s expertise, technology, and global network, start-ups will be able to focus on innovation that drives the digital economy. On more on this we had a conversation with Gaurang Shah, Senior Vice President, Digital payments and labs for Middle East and Africa at Mastercard.
Tomorrow marks the end of a six-month relief on listing loan defaulters which Kenyan Central Bank implemented as part of a stimulus package to cushion distressed businesses and individuals from the effects of the COVID-19 pandemic.
The world of social enterprise is motivated by entrepreneurs and SMEs that seek to create value from solutions that address the needs on ground, but COVID-19 pandemic has changed everything. Dedo Baranshamaje, Director of Innovation at Segal Family Foundation joins CNBC Africa to discuss how to build solutions for a post COVID-19 on locally-led entrepreneurship initiatives.
COVID-19 has had a devastating impact on small and medium-sized businesses, with some unfortunately having to shut their doors permanently. As small businesses navigate the challenging environment, digital transformation has become imperative for their survival. In light of this, Yoco has launched a Small Business Recovery Monitor. The company provides card machines and online payment tools to over 80 000 small businesses. Katlego Maphai, CEO of Yoco joins CNBC Africa for more.