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First HoldCo spends ₦82.6 billion on IT maintenance as electronic banking revenue grows 6%
TechMedia AfricaOct 26, 20263 min read
Technology Coverage
Digital Banking
Neobanks, mobile money, embedded finance, and the transformation of Africa's financial services sector.
11 articles
CBN approves JPMorgan’s plan to establish merchant bank in Nigeria
After depositing ₦50 billion with the CBN, JPMorgan has cleared an early licensing hurdle as it prepares to enter Nigeria’s merchant banking market.
Mercy Mokah3 min
Cash outside Nigerian banks rises 10.3% to N4.92 trillion in one year
Nigerians held N458 billion more cash outside banks in September 2026 than a year earlier, highlighting continued reliance on physical currency despite expanding digital payments and tighter withdrawal limits.
Chinaturum Iheoma3 min
JP Morgan deposits ₦50 billion with CBN as it moves closer to Nigerian merchant banking licence
US banking giant JP Morgan has deposited ₦50 billion with the CBN, marking a significant step towards securing a merchant banking licence in the country.
Mercy MokahOct 20, 2026
Fintechs and telecoms could challenge banks as South Africa opens payments system
For years, banks have controlled the main route into South Africa’s payment infrastructure. A planned rule change could give fintechs, mobile operators and retailers a way in of their own, reshaping who gets to offer payment services and who gets left out.
Mercy Mokah5 min
PAPSS eyes scale after transaction volumes rise 1,000% across Africa
PAPSS is targeting mass adoption after transaction volumes rose 1,000% and its network expanded across all five African regions.
Chinaturum Iheoma3 min
Profit of South Africa’s state-owned bank jumps 47% to R7.8 billion
South Africa’s Development Bank of Southern Africa raised its profit 47% to R7.8 billion in 2026 despite weaker fixed investment.
Mercy Mokah3 min
ProvidusUnity Bank customers report failed transfers, app access issues after merger
The merger created a larger bank, but customers say digital banking problems are making it difficult to access and move their money.
Mercy Mokah3 min
MTN wants to lend directly to customers as it explores banking licences
“The big growth now, which will be the growth of the future, is actually lending,” MTN Group CEO Ralph Mupita says, as the telecom giant eyes banking licenses in furtherance of its fintech expansion.
Chinaturum Iheoma4 min
Absa wants a bigger role in Nigeria’s corporate banking market
By upgrading its existing representative office in Nigeria into a merchant bank, Absa is positioning itself to deepen its footprint in Africa’s largest economy while diversifying its earnings beyond South Africa, Kenya and Ghana, which generated more than 80% of the group’s profit in the first half of 2026.
Mercy Mokah3 min
Standard Bank eyes OPay stake as Nigeria-focused fintech targets $4 billion US IPO
Standard Bank is in talks to acquire a stake in OPay ahead of the fintech’s planned US IPO, which could value the Nigeria-focused payments company at about $4 billion.
Chinaturum IheomaAug 18, 2026
Standard Bank spends R11.8bn on technology as it bets on digital banking
From cloud computing to AI, Standard Bank is putting billions into the technology powering its growing digital banking business.
Mercy Mokah3 min