Equity Bank Group’s investments in IT, growth in the number of customers and branch upgrades to cater for the growing SME segment have boosted 2013 profit before tax by 11 percent to Kshs 19.15 billion up from Kshs 17.29 billion the previous year. Cost to income ratio reduced to 48.5% in 2013 and NPLs reduced
Kenya’s Equity Bank of Kenya has applied for a licence to start mobile phone operations, though it is yet to be approved by the Communications Commission of Kenya (CCK). The Daily Nation reports the bank is looking to become a Mobile Virtual Network Operator (MVNO), meaning it would operate using an existing Mobile Network Operator
Kenya’s PesaPal will be expanding to Nigeria, Ghana and Zambia over the next few months, while looking at possible expansion into Francophone and South Africa. The company has recently launched in Malawi and is currently activating in Zimbabwe. “Over the last three years, we have developed a product that was well received in our initial
Bharti Airtel, a telecommunications services provider with operations in 20 countries across Asia and Africa has partnered with leading global payments technology company VISA and Chase Bank, an SME bank in Kenya, to provide its Airtel Money subscribers in Kenya with a new Airtel Money Visa card. The Airtel Money VISA card will allow Airtel
Kenyan payments provider Paynet has merged its PesaPoint agent network with that of Pep Intermedius, aimed at growing the PesaPoint brand and expanding its network. The expansion of the PesaPoint network will be taking place ahead of its new multi-institution agency model expected to be rolled out in partnership with mobile money providers and banks.
Equity Bank Group together with Infosys Technology, IBM, Oracle and Open Way Group have unveiled the successful upgrade of the Group’s integrated and robust IT platform which will enable the Bank roll out its future technology driven innovative products, provide comprehensive business functionality and enhance customer experience. Equity Bank core banking system has now been
Kenya’s CfC Stanbic Bank has launched its “Till2Bank” service enabling business clients to accept payments via mobile money. CfC Stanbic Bank business banking and small and medium enterprise (SME) banking clients can now accept payments via M-Pesa, with the payment landing in the business bank account immediately. “We are delighted to be the first bank
Kenya’s Safaricom is set to sign a deal with Skrill, a US-based remittances and online payment company, allowing Kenyan diaspora to send money directly to M-Pesa accounts. “All you need to send money is the receiver’s full name and an M-Pesa mobile phone number. The money is then instantly deposited directly into their activated mobile
The Commercial Bank of Africa and leading integrated communications services provider Safaricom have announced plans to increase the number of M-Shwari customers in the coming months. The two organisations aspire to grow the number of people using the revolutionary service that allows them to save and borrow loans against their savings, from the current 6
3G Direct Pay Limited, a leading online payments service provider, has announced a strategic business partnership with Kopo Kopo, a merchant services platform for mobile network operators in emerging markets. Eran Feinstein, Managing Director, 3G Direct Pay Limited signed the partnership agreement which he said would bring innovative payment options for the regional travel industry.
