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Payments fintech company Cellulant has obtained initial approval as a Payment Service Provider and Payment Facilitator in Egypt.

With its collections and disbursement payment solutions, Cellulant says it will enable global and regional merchants operating in Egypt to easily manage their B2B and B2C payments seamlessly in-country and internationally, whether through mobile money, wallets, cash, card, or direct bank transfers across multiple payment methods in various currencies.

Egypt’s payments sector has snowballed in recent years, with current regulations enabling instant payments and fintechs revolutionising how financial services are delivered, challenging traditional banking models and altering consumer payment preferences.

According to the 2022 Mastercard New Payment Index, 88% of Egyptians have used at least one emerging payment method, with usage expected to increase further. Customers are expanding their purchase methods, requiring businesses to expand their payment methods to alternative and locally relevant ones.

« With the prevalence of prepaid cards and mobile wallets already exceeding 40% of the adult population in Egypt, the timing of Cellulant’s acquisition of these licences could not be more opportune,” says Ahmed Marwan, Cellulant’s General Manager for Egypt and North Africa. “More importantly, we’re committed to intensifying our efforts to provide reliable payment options for businesses in the region. By simplifying their business payment process, they can focus on their growth.”

The company says that by acquiring licences to serve Egypt it strengthens its operations in Africa where it claims to have the most comprehensive payment infrastructure, integrating over 370 payment methods and operating in 35 markets, with licences and physical offices in 19 countries.

Zayo has gotten in some pre-Thanksgiving M&A activity, and in a somewhat surprising direction. The Boulder-based infrastructure provider has announced a definitive agreement to acquire Globalways GmbH. … [visit site to read more]

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This Industry Spotlight  was authored by Soma Naidoo, Global Head of Telco at Endava

Did you know that roughly half the global population would rather have their smartphone instead of their wallet when away from home? An unsurprising trend given that the rate at which we rely on our digital devices grows every day. This has a direct impact on the telecommunications industry and is intensifying the already fierce competition among carriers and networks. … [visit site to read more]

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.

What is described as a “landmark agreement” will lay the foundation for South Africa’s Gugulethu Colliery, a newly developed mine in Mpumalanga, to integrate 5G technology in its operations.

Mpumalanga is a province in eastern South Africa, bordering Swaziland and Mozambique.

A memorandum of understanding (MoU) signed in Cape Town between Menar, a private investment company with an actively managed and growing portfolio of diversified minerals, mobile network operator MTN, and technology firm Huawei, will enable implementation of 5G technology at the Gugulethu mine, which is to start producing in early 2024.

Plans under discussion include the possibility of rolling out a three-phased project to install 5G connectivity on the mine campus and shafts among other elements. 

Supported by MTN’s telecommunications expertise and Huawei’s technological infrastructure, the aim is to enhance communication onsite, ensuring people’s safety and well-being, as well as operational efficiency.

As we reported at the time, in December 2022 Canyon Coal’s Phalanndwa Colliery also based in Mpumalanga, signed an agreement that ultimately saw the mine adopting 5G technology. The team at Phalanndwa reportedly registered improvements when it comes to enhanced communication, safety, and real-time monitoring.

The role of 5G in this sector is likely to go on expanding, if comments from Menar’s chief innovation officer Cleavon Moothoosamy are any indication. He says: « We want to be at the forefront of mining innovation, and this partnership is a bold step towards a future where technology and connectivity redefine the mining landscape.”