31 December 2020 marked the end of Cheques, one of the oldest recognized payment instruments in South Africa. For the Payments Association of South Africa (PASA), the legal and operational structures and constructs that governed Cheques were formally disbanded on 31 March 2021, bringing the end to a grand old payment system. By contrast, several
Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, is pleased to announce the appointment of Akin Dada as Group Executive, Corporate and Investment Bank. He joined Ecobank in 2017 as the Executive Director for Corporate Bank in Nigeria, and prior to his new appointment was Group Head, Corporate Banking for the Ecobank Group.
In a region still dominated by cash and mobile money options, like M-Pesa, new collaborations between fintechs are looking to capture the price-sensitive market with innovative, open-loop digital payment solutions in East Africa. According to Mark Dankworth, President International, Ukheshe Technologies, the region is poised for a surge in digital banking growth, with the likes
Hari Chaitanya, Head of Investor Services, Product Management at Standard Bank A year ago, investors finally accepted the gravity of the looming COVID-19 crisis. In March 2020, major equity markets collapsed by almost a third, while safe-haven assets – including US Treasury bonds – came under unprecedented strain. Although markets have since recovered, the crisis
These days we all are in search of devices and products that make life better, whether at work, home or play. Samsung’s range of products are designed to achieve this and so much more. There is therefore great news for those wanting to purchase a must-have device or home appliance. Samsung and Standard Bank have
The Minister of Finance, on the recommendation of the Prudential Authority (PA), has approved the proposed acquisition of the controlling interest in Grobank by Access Bank Plc (Access Bank). Access Bank is a Nigerian-registered multinational bank with a footprint across Africa, the United Kingdom and Asia. The PA and the Ministry of Finance after making
He joined Ecobank in 2017 as the Executive Director for Corporate Bank in Nigeria, and prior to his new appointment was Group Head, Corporate Banking for the Ecobank Group Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group (www.Ecobank.com), is pleased to announce the appointment of Akin Dada as Group Executive, Corporate and Investment Bank. He
Standard Bank Group, Africa’s largest bank by assets, has appointed Yinka Sanni as its new Chief Executive for Africa Regions and a member of the Group Leadership Council. Sanni, the group’s Regional Chief Executive for West Africa, takes over from Sola David-Borha, who is retiring after 31 years of distinguished service to the group. Sanni holds
JSE-listed technology investment group, AYO Technology Solutions Limited (AYO), has filed an urgent high court application to interdict First National Bank (FNB) from terminating its transactional banking facilities with effect from 3 May 2021. FNB provided no reasons for its decision to terminate its banking relationship with AYO notwithstanding AYO’s requests for it to do
Zemen Bank has announced a partnership with Mastercard that will see the introduction of the first ever Mastercard branded prepaid contactless travel card in Ethiopia. Zemen Mastercard prepaid travel cards will enable cardholders to use cards with either of the two major currencies, namely U.S. Dollars and Euros, based on their travel destination. The card is also
