Equity Bank Group in Kenya and VFX Financial PLC in the UK have partnered to launch Equity Direct a real-time, cross border, multicurrency money transfer service from the UK to Kenya. The service will enable individuals and corporates in the UK to send money to any account at Equity Bank in the region. The service
African banks should innovate around the emergence of Bitcoin, which banks in the United States (US) and Europe are incapable of doing, according to Pelle Braendgaard, co-founder and chief executive officer (CEO) of Kipochi. Speaking on day two of Africa’s Payments, Banking and Retail Show 2014, Braendgaard said the African banking market is special in
Former Tanzanian President Ali Hassan Mwinyi has welcomed increased cross-border investment among East African countries, especially in delivery of financial services. Mr Mwinyi said this in Dar es Salaam, when officiating at the launch of KCB Bank Sharia Branch and lauded the firm for its continued investment in the country. He said KCB Bank, which
Exim Bank has urged more Tanzanians to utilize fully services offered by banks and other financial institutions, noting that saving money in banks is safer and the most convenient way of investing. Exim Bank Tanzania Assistant Manager (Corporate Relationship), Mr Justin Wambali, said people should use banks to save money for their future development. He
South Africa’s Standard Bank has announced the release of a new mobile app, offering increased functionality to its client base. The app is available on Android and iOS tablets with an additional release due later this year increasing flexibility on smartphones. “Standard Bank’s app for tablets is set to transform mobile banking and the way
FNB has enhanced the FNB Banking App for smartphones and tablets to include credit card functionality that will enable customers to manage their credit cards more efficiently from their smart device. The new functionality allows credit card holders to activate and cancel credit cards, order additional or replacement credit cards, and view credit cards and
KCB Group has commenced the process of rolling out Islamic Banking solutions in the country as part of its financial inclusion agenda. The innovative products and services will be in consistent with the principles of Islamic Sharia Law. “The bank is in advanced stages to make this a reality and Sharia Compliant Board or Sharia
MoneyGram a transfer and payment services company, has announced that it has signed an agreement with Qingdao Rural Commercial Bank (Qingdao RCB). Based in Qingdao, one of the largest cities in the Shangdong province of China, the agreement enables convenient money transfer service access for both urban and rural Qingdao residents, and foreign expatriates sending funds
Ecobank Transnational Incorporated has announces the departure of Group CEO Mr Thierry Tanoh with effect from 12 March 2014. Effective the same date he will no longer be a Director of ETI. Mr Tanoh joined the Ecobank Group as CEO designate in July 2012 and commenced his executive role in October 2012 prior to being
South Africa’s First National Bank (FNB) has revealed the youth market, aged 18 to 25, has shown the greatest growth in the uptake of its mobile banking app. The bank said the youth market has seen 14 per cent growth this year, rising by 133 per cent from when the app was launched in 2011.
