KCB Group has posted a 5% growth in after tax profit to KShs. 12.7 billion for the first half of 2019 ending June compared to KShs12.1 billion reported same period last year due to growth in its loan book and increased mobile channel activity. KCB Group CEO and MD Joshua ...
Firms in the financial services sector such as banks, insurance, and pension funds are set to reduce fraud in their operations through the use of biometric technology to identify their customers. This development is after Irish company DAON launched its services in the country promising the safety accrued from biometric ...
Kenya’s Commercial Bank of Africa (CBA) has partnered with the African Guarantee Fund for Small and Medium-Sized Enterprises (AGF) and Nairobi-based fintech firm- ECap, to introduce a solution that will see suppliers of Corporate Institutions, receiving payment for goods and services offered, without having to wait for the stipulated credit ...
The Ecobank Mobile App, a financial services application across 33 African countries, has processed 9 million transactions worth over $1 billion since launch less than 18 months ago. With over 4 million users, the Ecobank Mobile App is available to all, enabling users to open an Ecobank Xpress™ Account instantly on their ...
Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa to deliver instant, secure cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a unique merchant identifying code into either a feature phone or smartphone across Africa. The deal ...
United Bank of Africa Group, (UBA) is going above and beyond the legacy banking systems to omni channel marketing and social media lead generation, meeting its customers where they are - on websites, email, social networks, and cross-device platforms. UBA Group is taking advantage of AI-powered systems that even the ...
Blockchain startup Loyyal, the blockchain innovator building a global loyalty network has closed a Series A capital raise to complete development of its platform and accelerate its go to market strategy. The funding round was led by Integrated Networks (iNet) with participants including UAE Exchange, Hayaat Group, Day One Investments, ...
The ‘VoiceIt’ beat 17 teams to become the best team to win the Re: Code Nigeria competition taking home ₦1.5 million ($5K), 6 months access to IBM Watson supercpmpouter APIs and 1 month free usage of Azure and MSDN. VoiceIt allows customers carry out banking transactions via voice. Customers simply need to ...
Sidian Bank has turned to IBM to fuel its digital transformation promising its clients faster access to existing services like debit and credit card processing, bank account opening, teller services and wealth management. The bank has installed an IBM core banking system expected to enhance its core banking services and ...
Equity Bank has launched a new branch in the coastal city of Zanzibar as it seeks to deepen its forays in the entire East African region. The Zanzibar branch brings to 14 the total number of Equity branches in Tanzania and is part of the Bank’s planned regional expansion. It ...
I&M Bank has appointed Mr Kihara Maina as the new Chief Executive Officer of I&M Bank, Kenya effective immediately in a move to expand the bank today. A seasoned career banker, Mr. Maina, joins I & M Bank Ltd with a wealth of banking experience in Kenya and overseas for ...
Kenya's NIC Bank has announced that it has launched a fully automated online platform to help corporate employees apply for loans online.According to the bank, the portal will significantly streamline the loan application process as it will also allow for online approval and processing.The Bank says the site will specifically ...
Dubai Bank today launched its mobile banking system- M-SASA, expected at enabling Dubai Bank’s clients to check their balances, request mini-statements, deposit and withdraw cash as well as transfer funds to other accounts within the bank via their handsets. The Banks’ Customers will also be able to track the progress ...
South Africa's Nedbank Group is set to acquire a 20 percent shareholding Ecobank Transnational Incorporated (ETI) for USD493.4 million 4,512,618,890 new ETI shares. Though the 20% sale increases Ecobank's capital base, it also answers Nedbank's African expansion plans and strengthens the firms one-bank alliance they formed six years ago to ...
Trading on the Nairobi Securities Exchange has always been an offline venture, requiring traders to either visit their stock brokers anytime they want to buy a new set of shares. However, NIC Securities customers will now be able to buy and sale their shares from the conevenience of their mobile ...
In recent years, business innovation and growth in Kenya has been driven by technology adoption. However, it has exposed the country to new emerging threats. According to the 2014 Kenya Cyber Security Report, the continued adoption of online and mobile banking services is leading to new threats of which, only six per ...
The MD of STT Michelle Janke and the CEO of the DSE Moremi Marwa shake hands as the system goes live for the first time at the Tanzanian Exchange In just eight weeks, South Africa's Securities and Trading Technology (STT), a trading, clearing and settlement technology ...
South Africa's Business Connexion (BCX) has bought a 30% stake Nigeria's AppZone Limited, to develop solutions for the financial services sector. Though the amount of the deal was not dislosed, the transaction gives Business Connexion the ability to expand in Africa with AppZone's reach. In March, BCX acquired Panabiz Nigeria, ...
In a move set to change ways Kenyans transfer money and do transactions, MobiKash Afrika today launched a cross-platform merchant payment service to deliver mobile money transactions in real time for all. Dubbed Lipa Sasa Na MobiKash, the new service is accessible from any Lipa Sasa Na MobiKash agent by ...
KCB Group CEO Joshua Oigara has said the lender has no plans to venture into telecom business but was not refuting the idea outrightly. Speaking during the firm's 43rd AGM today at Bomas of Kenya, Oigara said the firm has no such plans but as what was reported a journalists ...
After nine months of allegations of mismanagement, the controversial CEO Ecobank Transactional has been fired by the bank’s board, and replacing him with a suitable insider. Group CEO Mr Thierry Tanoh has been fired with effect from today 12 March 2014 and will no longer be a Director of ETI or ...
United Bank for Africa (UBA) has partnered with Parolz.com, an online discount platform for Dinning to Lifestyle, Hospitality, Transportation and Gift Items in a move that will see UBA's clients get travel, lodging, lifestyle and entertainment packages via the UBA’s Card loyalty strategy. Parolz.com recently extended its offerings to include ...
image:Abacus.co.ke Kenya's CfC Stanbic Bank has launched a service dubbed Till2Bank to allow Business Banking and SME clients to accept M-PESA payments. The bank said the service will allow the merchants to settle the payments into their bank accounts immediately or on demand without the need ...
South Africa's FNB has launched a mobile banking application that will bring the entire Johannesburg Stock Exchange to the mobile phone. The Share Investing Banking App will allow FNB customers to buy, sell and keep track of their investments via their smartphones or tablets. The Banking App is available for ...
Ecobank has launched its operations Ethiopia with a new branch in Yerer Ber district in Addis Ababa, in a pan-African move that will see it cover 35 countries on the continent. Apart from its Ethiopia launch, Ecobank has also deployed Global CASHplus, an integrated, real-time cross-border payment and cash management ...
KCB Bank Group has launched a new product targeting the unbanked population in Kenya. Dubbed KCB M-Benki, the service allows mobile phone users to open a bank account and get instant access to all banking services from their mobile phones. According to KCB Group CEO Joshua Oigara,“This mobile-banking platform will ...
The Helix Institute of Digital Finance, a training and information institution for digital financial services has said it will launch in Nairobi this November to help digital finance practitioners increase efficiency, improve profits, and extend financial services to low-income and rural communities globally. The institute has partnered with the Gates ...
