14, November 2024
Camtel eyes 2025 as launch year for mobile financial services 0
Cameroon Telecommunications (Camtel) plans to launch mobile financial services sometime next year once it has completed a feasibility study this year, an executive said on Thursday as the state-owned operator looks to challenge Orange and MTN.
Mobile operators have been expanding in financial services across Africa, where a large part of the population does not have good access to traditional banking.
In Cameroon, South Africa-based mobile operator MTN (MTNJ.J), opens new tab and French telecom operator Orange (ORAN.PA), opens new tab dominate the mobile money space. Other fintechs are also making a play in that space.
Camtel’s mobile financial services business called Blue Money will be housed under its commercial unit Blue.
“Blue Money will be launched very soon. We’re finalising studies around the regulatory environment and the market to be able to deploy,” Gilbert Ngono, Director of Cooperation at Camtel said in an interview at Africa Tech in Cape Town.
“This year we’re finalising that part and next year is really the year where we’re going to see an acceleration and deployment of Blue Money.”
Source: Reuters
14, November 2024
Biya regime moves to safeguard personal data 0
Parliament is reviewing a draft bill aiming at establishing a legal framework for the processing and protection of personal data in the country.
The proposed Personal Data Protection Bill was submitted to the National Assembly in Yaounde on 13 November by Bolvine Wakata, minister delegate in the presidency responsible for relations with the lawmakers.
According to the government, this Bill aims to protect individuals’ fundamental rights and freedoms regarding the processing of their personal data, regardless of the data type, processing method, or parties involved.
“Processing and use of personal data have major economic implications,” the government stated in an explanatory note to lawmakers.
It added: “Data protection is essential for the survival of any state concerned with its sovereignty on the global stage.”
Notable among provisions of the Bill is a section which compels data controllers or processors to ensure that personal data is handled in a lawful, fair and transparent manner.
Additionally, the Bill mandates that data processing must respect individual privacy, with processors required to maintain confidentiality across digital networks and any other platforms.
The processing of personal data must also be based on the data subject’s unambiguous consent.
Aside from establishing criminal and financial penalties for those who violate the law, the bill would create a Personal Data Protection Authority—an independent body tasked, among other things, with issuing authorisations, approving certification mechanisms, handling complaints, and coordinating with other governmental bodies to ensure the law is effectively implemented.
Source: iTweb