United Bank for Africa, Kenya has announced its results for the period ending December 31, 2018 registering a 185% growth in Profit After Tax, overcoming a challenging macroeconomic and business environment. The profit after tax increased from KES 18.6 Million in the full year ending December 31,2017 to KES 53.1 Million for the full year
The Bank has launched its digital services in Tanzania and Ghana following successful roll-outs in Côte d’Ivoire and Uganda. Standard Chartered has announced it has completed a simultaneous multi-market launch of its digitally-led retail banks in Tanzania and Ghana, with Kenya’s roll out scheduled to occur shortly. This follows the launches of the Bank’s digital offering
Kenya’s Safaricom, the telecommunication company that is driving the country’s financial inclusion through mobile money is bigger than most of the country’s banks. Investigation by Businessday revealed that some Nigerian banks worry that Africa’s largest economy may take after Kenya if Telcos are given the same opportunity but Access and Diamond bank, due to be
As part of his visit to Kenya, Tim Murphy, General Counsel at Mastercard met with Patrick Ngugi Njoroge, Governor of the Central Bank of Kenya to discuss their shared commitment to bringing the latest digital payment safety and security technologies to east Africa. “Our goal is to provide Kenyans access to the tools and solutions
Safaricom, Kenya’s leading mobile network operator and provider of M-PESA, a leading mobile wallet, and the Western Union Company, a leader in cross-border and cross-currency money movement, have joined forces again—this time to unlock global money transfers for more than 28 million mobile wallet holders, by leveraging the Western Union global money movement platform. In
UnionPay International announced today it has signed an agreement with Kenya Commercial Bank (KCB), the largest bank in Kenya, at Canton Fair, also known as The China Import and Export Fair, to issue the world’s first UnionPay Belt and Road Commercial Card in Kenya. Offering unique privileges for business travel, transportation and trade, the Belt
A new study from Juniper Research forecasts that the use of mobile devices to make retail and store payments will act as a driver for financial inclusion of the unbanked in emerging markets. The research forecasts that mobile merchant transactions by unbanked individuals will grow from 1.8 billion per annum in 2018 to 3.8 billion
Visa, the world’s leader in digital payments, and international mobile financial services firm Branch have announced a partnership under which Branch will offer custom financing to merchants who accept payment via Visa (Visa on mobile or Card). The loans will provide merchants with funds to grow their business through supplemental stock, infrastructure investment, and other
UBA Group has unveiled chat banking in Kenya that enables customers to sign up for accounts, request for a mini statement, fund transfers and check user balance through the Facebook chat app. The service dubbed ‘LEO’ rides on Facebook Messenger, also allows customers to top up airtime, check user balance and live chat the customer
Visa, the world’s leader in digital payments, announced a tech startup based in Kenya, Mookh Africa, as the overall winner of its first ever Sub Saharan Africa (SSA) Everywhere Initiative, a global program aimed at startups and designed to encourage the development of the next big thing in payments. The winning solution beat 11 other
