17/06/2021

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FinTech companies bank on social media to promote financial literacy {Business Africa}

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It’s Money O’clock on Africanews. Change is what is driving many economic conversations across the continent. While fintech is embracing social media, South Africans are resisting the change to e-tolls.

*Using social media to boost financial literacy*

Social media has the power to connect people and build very powerful communities. The millions of conversations that happen on social media every day also generate a gold mine of data that is valuable to many organizations. Financial institutions have recognized the opportunity that social media presents and continue to explore ways of communicating, attracting and serving their customers using social media tools.

*Farmers in Uganda dig their way out of Covid-19 losses*

The covid-19 situations and the political disruption of the recently concluded general elections have had an impact on the Ugandan economy especially the agricultural sector. For Grace Omuron, the solution lies in innovative farming which she hopes will help her recover from losses obtained in the past five months. We explore her story against the backdrop of president Yoweri Museveni’s state of the nation address delivered last week in the capital Kampala.

*Why South Africa’s E-tolls are doomed to fail*

As host of the 2010 FIFA World cup, South Africa not only built new stadia but also upgraded its road infrastructure. But despite the public backlash, the government implemented an electronic tolling system known as e-Tolls- which charges motorists to use the highways in Johannesburg and Pretoria. Our reporter, Karabo Terrence explores the near-decade-long civil resistance to paying the tolls and why the system is doomed to fail.

More details in the video above.