Airtel Kenya has introduced a self-help PIN reset service allowing Airtel Money customers to reset their access PINs instantly from their handsets without having to contact the call centre. To access the service customers will be required to register a secret password with Airtel Money in advance, which will be used to validate future PIN
National Bank has announced strategic partnerships with Kenswitch, the national payments switch provider, and Post Bank, as it moves to enhance its distribution networks across the country. The new partnerships will provide all National Bank customers access to 1,200 Kenswitch’s ATMs services across East and Central Africa and also provision of agency banking services at
Over seven million subscribers are now using Kenyan mobile operator Safaricom’s microfinance platform M-Shwari, according to George Ndegwa from the operator’s financial services division. Ndegwa was speaking at the 2014 Mobile Money and Digital Payments conference that kicked off in Johannesburg, South Africa yesterday. M-Shwari allows users to make use of the M-Pesa system to
Remittances to Kenya have increased 16 per cent over the past year, according to the Central Bank of Kenya (CBK), boosted by the growth in remittances through the likes of Western Union and M-Pesa. The bank said the country has received nearly US$120 million from Kenyan diaspora, up US$17 million from last year. “Remittance inflows
Kopo Kopo, a leading provider of business management software with over 10,000 clients in Kenya, has announced its new merchant cash advance service called “Grow.” Unlike a traditional bank loan, Grow is designed to help businesses grow and prosper by accommodating their cash flow cycles. Grow cash advances are disbursed in minutes, require no personal
Nigeria’s e-commerce sector is still in its infancy compared to those of developed countries in spite of the success of the likes of Konga and Jumia, according to Oluseye Faleye, founder of TopDownDeals. Faleye believes TopDownDeals.com.ng filling a vacuum by providing a platform for gamers in the country to purchase offerings from international providers at affordable prices.
Equity Bank has doubled their over the counter withdrawal fees recently in a bid to encourage the use of alternative banking channels such as agency outlets and mobile banking. Equity hopes that this will decrease congestion in bank branches and reduce their teller to customer ratio. The cash withdrawal charges have gone up from Sh50
M-PESA customers will now be able to make mobile banking transactions instantaneously. This follows a system upgrade to the Application Programmable Interface (API) which has resulted in a reduction of transaction time from an average of 2 hours to less than 30 seconds. This will in effect help entrench the move towards a cash-lite society
Kenya Commercial Bank (KCB) has declared plans to follow rival Equity Bank into the telecoms market after announcing a first quarter profit increase of 28.6 per cent. It was reported last month that Equity Bank was one of three firms to have been granted mobile virtual network operator (MVNO) licences by the Communications Commission of
KCB Group has won major awards in the prestigious annual Banking Awards announced on Wednesday evening. The largest bank in the region in terms of asset base and branch network, emerged the winner in four categories namely Best Bank in Agency Banking; Best SME Bank; Best Asset Finance and Best Recovery Bank which went to
