Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings, has been awarded the Best Cash Management Bank and the Best Trade Finance and Supply Finance Provider in Nigeria at the 2022 edition of the Cosmopolitan The Daily Business Awards, which held recently. Organised by Cosmopolitan The Daily Business publication, the business award recognises financial
NEOPAY will comprise of Mashreq’s leading merchant acquiring business, which processes over USD 22Billion of annualized volume across retail, government, hospitality, and eCommerce. NEOPAY will also provide Issuer Processing and Acquiring Processing services to financial institutions and fintechs. NEOPAY already positioned amongst the top 3 merchant acquirers in the UAE and a leader in next
Morocco-based Al Mada Holding Group has launched a $109.8 million pan-African venture capital fund to invest in fast-growing startups. The new VC fund aims to develop promising technology-oriented startups in fintech, healthtech, logistics, edtech, and renewable energy. In addition to providing direct funding, the Al Mada venture fund will equally offer startups access to the
TELKOM Financial Services has launched the Telkom Pay Mobile Point-of-Sale (mPOS) app, a fintech tool that allows business owners to make and receive payments through their mobile phones. The app is aimed at simplifying business for small, micro, and medium enterprises (SMEs). Telkom said it was committed to providing SMMEs with solutions that would enable
OpenWay, a top-ranked digital banking and payment software provider, has announced two new implementation partners in East Africa — TechNote Limited, along with iCon Transactions and Tracing Technologies Limited (iT&TT). These new additions to OpenWay’s partner network will allow its clients to reduce time-to-market for innovative digital payments solutions in East Africa and beyond. TechNote
Do you have a solution to improve cash management and logistics that will help ATM deployers reduce costs? If so, the ATM Industry Association (ATMIA) wants to hear about it. ATMIA today announced the opening of its ‘Improving the Costs of Cash White Paper’ contest. ATMIA members worldwide are encouraged to submit a two-page document
Standard Bank has partnered with Woolworths Holdings Limited to successfully conclude the first sustainability-linked working capital facility in South Africa to the value of R600 million. This partnership is testament to Woolworths’ commitment to achieving bold sustainability targets and realising its vision to be one of the world’s most responsible retailers. This working capital’s facility
29% growth in Balance Sheet to Kshs 1.305 trillion from Kshs 1.015 trilliom 29% growth in customer deposits to Kshs 959 billion from Kshs 740.8 billion Emerges the largest bank in Kenya and in the region by all key parameters: balance sheet, profitability, market capitalisation and customer base Improvement in NPLs from 11% to 8.3%
On 1 June 2021 the South African Reserve Bank (SARB) announced its process to dispose of its 50% shareholding in African Bank Holdings Limited (ABHL), given the potential conflict as the regulator, the significant shareholder, and the lender of last resort to African Bank Limited. The SARB appointed a set of transaction advisers and proceeded
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has announced the introduction of the Stanbic IBTC Flex Border, a newly added feature on its digital platforms aimed at simplifying customers’ experience with international payments and cross-border transactions. The Flex Border feature will enable Stanbic IBTC domiciliary account holders make direct international fund
