Anchor, a Banking-As-A-Service Platform Joins Y Combinator’s Summer 2022 (S22) Batch, Announces the Launch of Public Beta

Posted on by Staff Reporter | 6936 Views | 18 min read

Anchor is launching its public beta API infrastructure to make it easier for African businesses to build, embed and launch financial products  Anchor (https://getAnchor.co/), a banking-as-a-service (BaaS) platform making it possible to seamlessly build financial products in Africa announces its public beta launch. The startup was also accepted into Y Combinator Summer 2022 Batch as

Absa Group 2022 Interim Earnings Increase 27%, Demonstrating Continued Strong Recovery

Posted on by Staff Reporter | 6859 Views | 22 min read

*Salient points Revenue increased 14% to R46.9billion Operating costs rose 7% to R24.1 billion Cost-to-income ratio decreased to 51.4% from 54.9% Pre-provision profit increased 23% to R22.8 billion Impairments increased 10% to R5.2 billion Headline earnings per share increased 27% to 1298.5 cents from 1019.7 Return on equity improved to 17.7% from 15.3% Group CET

Fifteen Major SA Financial Institutions Migrate to Africa’s Top Data Centre Without a Hitch

Posted on by Staff Reporter | 7319 Views | 16 min read

Banking enabler Direct Transact achieves seamless migration to Teraco data centre for 15 major financial institutions, ensuring no downtime or disruptions in the SA payments system and that the entire financial ecosystem gains a major boost in scalability, reliability and global competitiveness. Fifteen major South African financial institutions have successfully migrated all their sensitive business

Standard Bank Delivers Record Headline Earnings for the Six Months Ended

Posted on by Staff Reporter | 7224 Views | 26 min read

Standard Bank Group (“Standard Bank” or “the group”) delivered record headline earnings of R15.3 billion for the six months to 30 June 2022 (1H22 or the current period), up 33% on the prior period.  This performance was underpinned by continued balance sheet and franchise growth. Headline earnings: R15 263 million, up 33% Headline earnings per

GCB Bank and G-Money Win at the 6th Global Business Quality Awards

Posted on by Staff Reporter | 18658 Views | 5 min read

GCB Bank was adjudged the Premium Ghanaian-owned Bank of the year 2021 at the 6th Global Business Quality Awards ceremony held at the Movenpick Ambassador Hotel in Accra. G-Money, the Bank’s subsidiary with over 2.4 million subscribers was also awarded the Most Promising Mobile Money Brand of the Year Award 2021. The awards, organized by

Firstmonie Agents Transact over 1 Billion Transactions, Reinforces FirstBank’s Leading Role in Promoting Financial Inclusion in Nigeria 

Posted on by Staff Reporter | 13243 Views | 9 min read

The Bank’s Firstmonie Agents play a critical role in promoting financial inclusion in the country   The Bank currently has over 180,000 Firstmonie Agents spread across 772 Local Government Areas in Nigeria Since 2020, FirstBank has economically empowered thousands of its Firstmonie Agents with over 100 billion naira credit facilit First Bank of Nigeria Limited, Nigeria’s

IFC and Absa Bank Partner to Increase Affordable Housing Finance in South Africa

Posted on by Staff Reporter | 11449 Views | 10 min read

To increase access to affordable housing in South Africa, IFC and Absa Bank Limited, one of the leading providers of residential mortgages in the country, have partnered to support the expansion of housing finance targeting lower-to-middle income households in South Africa. IFC’s local currency loan of up to 2 billion South African rand (roughly $128

Paysend Partners with Damane Cash to Enable Transfers to Morocco

Posted on by Staff Reporter | 28869 Views | 3 min read

Paysend, the UK-based FinTech with over 7 million customers, today announces a partnership with Damane Cash, a payments institution and subsidiary of Bank of Africa, to enable money transfers to Morocco. With features such as low fixed fees, upfront exchange rates, faster transfer speeds and the ability to make instant, digital end-to-end international payments, this

National Bank of Bahrain Signs an Extended Partnership with Mastercard to Enhance Portfolio Through New Premium Offerings

Posted on by Staff Reporter | 16540 Views | 10 min read

Seven-year partnership will see NBB issue a range of debit, credit, prepaid cards and unique loyalty solutions to complement existing comprehensive offerings with Mastercard. Collaboration includes launch of highest tier cards targeted at UHNWI offering Priceless experiences The National Bank of Bahrain (NBB), and global technology company Mastercard have announced a strategic seven-year partnership to

GCB Bank Overtakes Stanbic and Controls 16.74% of the Market in Ghana

Posted on by Staff Reporter | 15690 Views | 7 min read

GCB Bank has now overtaken Stanbic Bank with significant investments on the Ghana Stock Exchange Fixed Income Market (GFIM) in the first half of this year. The second biggest bank in the country held 16.74% of the debt market, after acquiring ¢3.7 billion worth of debt instruments. The indigenous bank traded more volumes of debt