How to Navigate Regulatory Compliance in Africa: Building a Strong Framework
A few months ago, I received an innocent email from a C-level executive. Intrigued, I clicked a link within it, only to discover it was a planned phishing attack orchestrated by our compliance team. Failing the test, I had to attend an informational session on phishing and identity fraud. When a similar email arrived recently, […]
Here’s What to do about the Security and KYC Gap in Online Food Delivery.
Remember the hassle of calling a restaurant to order food and then crossing your fingers, hoping your order arrived correctly and on time? Those were the days! But now, thanks to online platforms, whether you’re working from home or just craving your favourite meal, a few clicks on your phone and your food arrives at […]
KYC in Gaming and Betting: Ensuring Fair Play and Safety
In 2022, Africa’s gaming and betting scene exploded, making nearly a billion dollars in revenue. Nigeria, Ghana, and South Africa lead the pack, with South Africa being the top player. Most of this action comes from sports betting, and what’s interesting is that people now prefer to play online (iGaming) rather than going to physical […]
KYC Compliance in Ride-Hailing: Building Trust and Safety
In 2019, a popular ride-hailing company lost its permission to work in London because many drivers faked who they were on the app. Imagine, over 14,000 trips were taken with drivers who weren’t really who they said they were. That’s a significant risk for every passenger. Ride-hailing apps on phones make getting around cities so […]
How African Businesses Can Use Face Match for KYC and Unlock Growth
By 2025, Africa’s internet economy is set to reach $180 billion, constituting 5.2% of the continent’s GDP. The potential for startups and established companies alike has never been more promising. Yet, there’s one thing that can impede or accelerate this growth further. Trust. Whether dealing with investors or customers, we must trust that the right […]
Why is Digital Identity Verification Important for African Startups?
ChatGPT, and artificial intelligence. Open Banking and Peer to Peer Trading. Africa’s digital economy is exploding, with startup funding at a record high. Yet, we must ask a fundamental question and address the elephant in the room. “How do we sustain a high-growth digital economy in a continent filled with digitally invisible people”? According to […]
How to Launch and Scale a Startup in Africa with Zero Funding
Building a startup in Africa is challenging. Just ask the founders of Seamfix, our parent company that went from bootstrapped beginnings with only seventy-five thousand Naira to a globally recognized company with a presence in four locations, all without any external funding or investment. This is precisely what I was about to explore as I […]
Market Research Guide for Early Stage Startups in Africa
Market research is the strategic North Star for early stage startups. In a recent webinar hosted by our startup accelerator program, Martin Mbonu, a seasoned player in the startup game, shared a profound narrative of his journey with MFS Africa, the largest mobile money aggregator in Africa. With over two hundred million dollars in funding, […]
5 Identity Verification Errors to Avoid for a Seamless KYC Process
One of the critical aspects of a robust KYC process is addressing potential identity verification errors. You may have an outstanding product and a solid understanding of KYC (Know Your Customer) terminologies, but these errors can negatively affect customer retention and drain resources. What if I told you the solution might be simpler than you […]
Identity Verification: How to Choose the Best KYC Provider in Africa
Your business’s success depends on a critical choice: your KYC provider. In Africa, numerous businesses grapple with this decision. An ill-suited KYC solution can lead to user drop-offs, erode trust, and stall your business’s progress. But, the right KYC partner can empower you to effortlessly verify user identities, instil confidence, and drive your business forward. […]
