Robert Diamond is planning to return to the business of banking through a large investment into the banking sector in Africa. Diamond, who left his position as CEO of Barclays last year after a rate-fixing scandal, is looking to raise $250 million to invest in African banking through a corporate shell known as Atlas Mara,
Tanzania is considering operating its bank payments system on Saturdays, allowing customers to transfer money around, with traders remaining confident that the move would not affect banks’ trading positions. The opening of real time gross settlements (RTGS) will allow banks’ customers to move money from one account to the next, a departure from the present
The Standard Bank of Namibia has officially unveiled its smart banking app, allowing customers to access banking services more conveniently through their smartphones or tablets, with plans to launch a second version next year. The new mobile banking platform will allow customers to check their account balance, view the last five transactions through a mini
The banking sector contributes little to the economy despite its improved stability, continued growth and dominance in the financial system, the Governor of the Central Bank of Tanzania, Prof Benno Ndulu says. The BoT governor says in the 2012 Annual Report of the Bank of Tanzania’s Directorate of Banking Supervision that the contribution of the
PROPARCO and Ecobank Transnational Incorporated (ETI), the holding company of Ecobank Group, have announced the signing of a USD 50m loan agreement with a 10-year maturity. Ecobank was founded in 1985 and is today the largest pan-African banking group by number of locations, operating in 35 countries. The group is a full-service bank providing wholesale,
Guaranty Trust Bank plc has announced the upgrade of its internet banking platform for all customers. The upgrade incorporates a new look and additional technical functionalities. The upgraded Internet Banking platform provides customers with a more user friendly way to carry out their online transactions and manage their services. It also offers customers an account
Consistent competitive pressures in the core banking industry are forcing banks to look at new ways of gaining competitive advantage, often in the form of spending more finances and time in making sure their core banking systems are immaculate. Hence the need to gain better decision making skills to ensure resources are spent effectively in
The National Microfinance Bank PLC (NMB) in Tanzania has launched an account for Business Customers branded NMB Business Account Plus in Mwanza that would provide a wide opportunity for self service channels. The NMB Chief Finance Officer, Mr Waziri Barnabas said at the event held in Mwanza on Wednesday that NMB Business Account Plus has
Akiba Commercial Bank has been ranked as the best customer-focused bank in Tanzania mainly on convenience, pricing and commendable customer care factors. Customer care and pricing factors were seen as being among the most important indicators for many respondents, leading almost half to say that they would change their bank as a result of poor
Pay Television company StarTimes Media and Equity Bank have signed a Memorandum of Understanding that will see the Bank’s customers across the country access soft loans that will enable them acquire approved digital television set top boxes from StarTimes and repay through a flexible six month installment plan. Through this partnership, Equity Bank customers will
