The right strategy and the right partners help banks modernize offerings to commercial customers securely, compliantly – and more quickly than with internal development projects. Banks and businesses have a long history of partnership. Businesses rely on banks for essential needs, such as managing accounts, opening lines of credit, and offering payment options like ACH
New investment by companies across Tanzania will benefit from EUR 540 million (TSh 1.3 trillion) of new financing backed by the European Investment Bank, CRDB, NMB and KCB-Tanzania announced at the EU-Tanzania Business Forum in Dar es Salaam earlier today. The European Investment Bank’s first engagement in Tanzania for seven years includes expected targeted support
Mastercard strengthens its leadership team in North Africa through the appointment of Inji Borai as Vice President and Country Manager for Egypt. Egyptian born Inji has been growing through the Mastercard regional ranks over the past 3 years. In her new role, Inji will be responsible for leading Mastercard’s strategy and operations to drive value
Under the agreement, DTB will leverage Mastercard’s technology to enable fintechs to issue their own card propositions Diamond Trust Bank (DTB) and global technology company Mastercard today announced a strategic agreement that will enable the bank to provide payment cards to tech-enabled companies including fintechs in Kenya. The Agreement, a first of its kind in
The adage ‘jack of all trades, master of none’ is apt for enterprises considering expansion into new African markets. Anthony Karingi, Vice President of Business Development – East Africa at leading fintech enablement partner Ukheshe, says the company is taking a collaborative approach to its regional expansion strategy – and is already reaping the benefits.
Neobanks and fintechs act very similarly to the White Rabbit from Wonderland. Soon after entering the scene, they start falling down the rabbit hole of payment innovations, user expectations and rigid time-to-market. Also, they are very picky when choosing a travelling companion. Alice had to try many potions and tricks to fit herself to a
GCB Bank Plc, one of the largest banks in Ghana, today announced it successfully completed the first Pan-African Payment and Settlement System (PAPSS) client transaction in Ghana. The transaction involved a Ghanaian incorporated entity initiating a supplier payment from GCB in Ghana Cedis to a beneficiary in Nigeria who received the payment in Naira instantly.
Standard Bank Group (“Standard Bank” or “the group”) delivered record headline earnings of R34.2 billion for the twelve months to 31 December 2022 (FY22 or the current year), up 37% on the prior year. The group recorded continued client franchise growth across all its businesses and geographies. RESULTS OVERIVEW “We delivered strong earnings growth which
*Salient points Revenue increased 15% to R98.9 billion Operating costs rose 7% to R50.9 billion Cost-to-income ratio improved to 51.5% from 55.2% Pre-provision profit increased 25% to R48 billion Impairments increased 61% to R13.7 billion Headline earnings per share increased 13% to 2486 cents Return on equity improved to 16.6% from 15.8% Group CET 1
The partnership aims at bringing more unbanked and underbanked Egyptians into the formal economy Mastercard’s collaboration with NBE will focus on expanding the suite of digital payments in Egypt The National Bank of Egypt (NBE) and Mastercard have announced a new strategic partnership to bring next level digitization into the Egyptian economy. Through this collaboration,
