The mass market in Somalia will now be able to access various banking products virtually through their mobile phone after Kenya’s Rapid communications recently acquired 16% shareholding in Nationlink telecom, a GSM operator, along with the license for banking services. The company currently manages the content management system (CMS) platform for Nationlink telecom and with
United Bank for Africa Plc in partnership with Verve International has launched an offer tagged “UBA Verve Rewards” in which Cardholders could win e-cash, free airtime, Nokia mobile phones and up to N35,000 cashback Cardholders who use their UBA issued Verve cards to initiate a minimum of five POS or VAS transactions on the ATM
GCB Bank Limited has recorded a phenomenal growth in its unsecured personal loan sales of more than GH¢700 million within three years. Besides, the Bank had registered over 1.5 million transactions per month from less than 100,000 transactions in four years. The Managing Director of the Bank, Mr Simon Dornoo, who disclosed this at the
FNB announced that R9.5 billion has been withdrawn from tills across South Africa since the inception of the Cash@Till service for customers in 2012. Sixty-five percent of this amount was withdrawn in the last year alone. “We have seen strong take up of our Cash@Till service as customers withdraw from retailers across the country. The
MetaBank’s payment solutions division Meta Payment Systems recently signed an agreement to partner with hyperWALLET, a Vancouver-based company that provides domestic and international mass payment solutions for corporations. The Sioux Falls-based financial company will become hyperWALLET’s second issuing bank in the United States, issuing corporate payment cards and facilitating ACH payments for their business clients.
NBC Tanzania has appointed Mr Pius Tibazarwa as Interim Managing Director of the bank to succeed Ms Mizinga Melu who has been assigned a new role as Chief Executive Officer of Barclays Africa Regional Management. The NBC Board Chairman Dr Mussa Assad said in Dar es Salaam that the outgoing NBC Managing Director has built
Leading retail bank, Diamond Bank PLC, has launched an innovative banking product, Diamond Y’ello, as part of its financial inclusion programme to reach the unbanked. The Diamond Y’ello Account, which is run in partnership with mobile telecommunications giant, MTN Nigeria, is a hybrid account that offers the over 58 million MTN subscribers a fusion of
Ecobank Transnational Incorporated welcomed the acquisition of a 12.5(1) percent minority stake in ETI by Doha-based Qatar National Bank through QNB’s purchase of both ordinary and convertible preference shares. QNB bought the shares from the Asset Management Corporation of Nigeria on the Nigerian Stock Exchange. Following the transaction Ecobank is discussing a strategic partnership with
The innovations by United Bank for Africa, in providing convenient banking platforms for individuals and businesses have received global endorsement and recognition. The Bank has been named the “Best Transaction Bank” from Africa in 2014 by UK based magazine “The Banker”. This is hinged on the Bank’s e-banking platforms that have positively changed the way
The Bank of Tanzania issued a 500/- coin to replace the current 500/- note, which wear off easily. Addressing reporters in Dar es Salaam, BoT’s Director of Banking Service, Mr Emmanuel Boaz, said that the new coin will be in use early October. “Coins are more durable with a longer life span. Due to a
