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
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,
Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, the leading pan-African banking group, is pleased to announce that Jeremy Awori has officially assumed his role as Chief Executive Officer of the Ecobank Group. Jeremy Awori, commenting on his new role, said: “It’s a fantastic opportunity to take Ecobank to the next level of
Global Alliance for Banking on Values ED Commends Ugandan financial institutions for adopting transformative financial solutions. Martin Rohner the Executive Director, Global Alliance for Banking on Values (GABV), has commended Centenary Bank for adopting transformative solutions that will aide in creating a sustainable finance eco system. In conjunction with the GABV ED Martin Rohner, Fabian
By Pieter Schulze, Head of Product at Standard Bank Mobile money transactions represent a substantial portion of domestic economic activity in many countries across sub Saharan Africa. In countries such as Kenya, Tanzania and Zambia, mobile money transactions volumes and values even exceed domestic electronic funds transfers (EFTs) (Central Bank of Kenya, 2023) (Bank of Tanzania,
Written by David Smith, CEO WeDo Help Limited The payments sector is ripe with growth opportunities, but winning in this market takes speed, agility and a relentless focus on the customer experience. Yet all too many financial services companies are running on legacy technology stacks that aren’t up to the challenges of today’s dynamic market.
In the second half of 2022, the South African Reserve Bank (SARB) announced it has its sights set on stricter regulations for the South African payments ecosystem “to ensure financial stability in a world of increasingly innovative and disruptive technology”. Though some new fintech players winced at the thought, it is a necessary move if
