Regional banking group, Equity Bank’s reduction of interest rates by 700 bps from 25% to 18% has paid off by growing its loan book by Kshs 11 billion to Kshs 150 billion from Kshs 139 billion in the first quarter 2013 resulting in a growth of 21% in Year on Year. The massive reduction in
Ethiopia has emerged as one of the continent’s most exciting new markets, boasting the fastest growing non-energy-based economy in Africa, growing at an average annual rate of 11 percent GDP in recent years. Global’s optimism is supported by the IMF’s projection of Ethiopia as the 3rd fastest growing economy in from 2011 through 2015, trailing
Access Bank’s merger deal with the defunct Intercontinental Bank has been judged Africa’s top merger and acquisition (M&A) deal by the Banker Magazine. The Banker Magazine, a member of the Financial Times stable of publications, selected the Access Bank and Intercontinental Bank deal as the “2012 Mergers and Acquisitions Deal of the Year” for Africa.
Angola’s economy is expected to expand by 7% to 9% a year over the next decade. It’s one of the fastest growth rates in the world, yet the country’s financial sector is just keeping pace. So it may seem a bit ambitious for Standard Bank de Angola to aim even higher. As part of Africa’s
In line with its commitment to enhance the electronic payment card acceptance infrastructure in Morocco, MasterCard today announced the appointment of M2M SPS, a leading provider of secure e-transaction processing solutions as its Principal Member in Morocco. As a new Principal Member of MasterCard, M2M SPS will be enabling its customers to leverage MasterCard’s acquiring
ACI Worldwide a provider of payment and banking systems, announced that it has partnered with DBS to deliver a first-of-its-kind online banking platform to corporates in Asia. DBS selected ACI Universal Online Banker and ACI Global Trade Manager solutions to power its IDEALTM 3.0 regional internet and mobile banking platform, a state-of-the-art platform which provides
United Bank for Africa (UBA) Plc has introduced a personalised debit card called the UBA “All About U” Card which allows Customers carry around their fond memories while using their Debit Cards. The UBA “All About U” Card is an award winning customized Debit MasterCard which gives customers the opportunity to create a one-of-a-kind card
FNB’s online banking platform has once again walked away with top honours in the 13th edition of the PwC survey on banking in South Africa 2013. This follows on the previous PwC survey in 2011, where FNB was also awarded first place. “The banking industry is dynamic and has evolved significantly since our last survey
Nigeria’s Access Bank aims to grow its customer base to 15-20 million across its African markets by 2018, from around 6 million now, as it shifts its focus to retail banking. Its incoming chief executive, Herbert Wigwe, who takes over at the end of the year, said retail banking will account for around 50 percent
TSYS and NetSpend Holdings, Inc. announced that TSYS has completed its acquisition of NetSpend. NetSpend is now a wholly owned TSYS subsidiary and TSYS’ fourth operating segment focusing on direct to consumer products and services. NetSpend will continue to be led by chief executive officer Dan Henry and president Chuck Harris. The segment will report
