Friday, January 27, 2023

This week: Kuda gets digital banking licence in Pakistan - TechCabal

Last updated Saturday, January 21, 2023 05:05 ET , Source: TopWireNews

Editor’s Note
In this week’s edition of TC Weekender, the telcos take center stage. From MTN Ghana fighting a hefty fine from the government to MTN SA being embroiled in a three-way tussle in South Africa, to Africell acquiring a new momo license, the telcos are starting the year off hot, it seems.
Also, congratulations are in order for Kuda, as they’ve just acquired a shiny new banking license. For more stories from the tech industry around the world, dive into this week’s edition. Happy reading!
On Friday, Pakistan issued licenses to five digital banks to operate in the country, and Nigeria-born Kuda was one of them. The license is Kuda’s first step towards becoming a full-fledged bank that provides all banking services without any need for Pakistanis to visit the bank branches physically.
Tanzanian ride-hailing drivers probably feel like they have laboured in vain. Almost nine months ago, in response to their protests, the Land and Transport Regulatory Authority (LATRA) set a 15% ceiling on the commissions deducted by ride-hailing services like Bolt and Uber. LATRA has now backtracked and adopted a 25% commission rate due to lobbying.
In other news, Tanzania is slowing down on its Central Bank Digital currency (CBDC) adoption. Last year, it joined 19 African countries exploring CBDCs but will be taking a “phased, cautious and risk-based” approach.
You’re not the only one making New Year’s resolutions. Kenya’s government has set revenue goals for the year, and they are...

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