In an ongoing process geared at setting the pace for the full scale rollout of the Equity 3.0 strategy aimed at facilitating a cash lite economy in East Africa, Equity Bank has now confirmed its partnership with some of the world’s leading merchant business and payment processing firms. The Bank, which reported a 58% growth
CfC Stanbic Bank in Kenya have opened the first ever digital experience bank branch in the country. The branch in Mombabsa’s Nyali Centre Mall is set to radically alter the way customers take care of their financial needs and conduct their daily banking business. CfC Stanbic Bank’s focus is on enhancing the way Kenyans engage
The Central Bank of Kenya (CBK) has reported KSh6.2 billion (US$71 million) is transacted every day via mobile money, up from a daily average of KSh5.2 billion (US$59 million) last year. The Business Daily reports CBK data revealed that KSh543 billion (US$6.2 billion) changed hands in 206 million transactions conducted through mobile phones in the
KCB Group and Safaricom Limited, two of East Africa’s most successful companies have announced a far-reaching strategic partnership that is expected to reshape how tens of millions of consumers in Kenya access financial and telecommunication services. The partnership is expected to be a game-changer, bringing together the region’s leading mobile operator and bank, who both
Microsoft has partnered with leading Kenyan telecom Safaricom to make it possible for customers to download apps from the Windows Phone Store and make payments using their mobile phones, opening a reliable revenue channel for the developer community. Mobile operator billing services will target the growing number of Windows-based smartphone users who previously had to
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorized international remittance service providers in Kenya. The results for May were as follows. Remittances to Kenya increased by 8.6 percent, to USD 119.7 million in May 2014 compared to USD 110.1
Leading Kenyan telecom Safaricom and Kenya Commercial Bank (KCB) have formed a strategic partnership, with the first project a one-stop integrated solution that will cater to the needs of small and medium enterprises (SMEs) in Kenya. Biashara Smart is a set of communications and financing products, capacity building initiatives and reward programmes aimed at connecting,
Kenyan mobile operator Safaricom has opened up its M-Pesa mobile money agents network to rival operators, allowing integration between various mobile money platforms, according to a report. Business Daily reports the move now allows investors to run M-Pesa services alongside rival mobile money platforms provided by Airtel and Orange. Last month Safaricom was braced for
East Africa will soon have a common mobile money platform that will enable users to send money from one country to another without any difficulty under exchange rates approved by central banks. This is according to Godfrey Kyama, e-banking advisor to the Commonwealth, in his presentation at the ongoing Tech4Africa conference in Nairobi. Kyama said
Members of the Kenya Bankers Association (KBA), the banking industry umbrella body, appointed their Governing Council during the KBA 52nd Annual General Meeting that was held on 26 June 2014. The new Governing Council will serve for a period of 12 months under the chairmanship of Joshua Oigara of Kenya Commercial Bank (KCB), and vice
