The benefits of open banking have been spoken about within the global banking sector for some years now. While some local banks have already made concerted efforts to embrace the innovation opportunities that come with open banking, global payments as a service (PaaS) specialist, Network International, believes there is room for a more collaborative mindset
The European Investment Bank and the Central Bank of Kenya today launched a new climate finance best practice initiative to strengthen engagement by Kenyan financial institutions to finance climate-related investment, enable commercial banks to mobilize climate finance essential to achieving a net zero economy and strengthening the climate resilience of the Kenyan financial systems. The
Mastercard and Hatua.net – an independent UK and US registered charity working to promote education and employment among youth in Kenya and Uganda – have joined hands to empower young people with the essential skills needed to thrive in today’s competitive job market. Primary school in Kenya and Uganda is free but secondary school fees,
KCB Bank Kenya has partnered with global payments technology company, Mastercard, to roll out the World Elite Exclusive Credit Card that will offer premium and private banking customers a range of market-exclusive benefits, privileges, and experiences. This collaboration marks a significant milestone for the Bank as it is another strong step in building a world-class
From surviving to thriving in the post-COVID world, small and medium enterprises (SMEs) in Kenya have demonstrated optimism and confidence about the next 12 months. These are the findings of the second edition of the Mastercard Eastern Europe, Middle East and Africa (EEMEA) SME Confidence Index. The 2021 inaugural SME Confidence Index delved into the
During the second edition of US Ambassador to Kenya, Meg Whitman’s investment roadshow series to the United States, Equity Group Holdings and farm equipment maker John Deere signed a comprehensive agreement to offer tractors into the Kenyan market through well-defined and affordable finance programs for both large scale and small-scale farmers. The agreement underpins Equity
Safaricom has announced the closure of a multi-billion Sustainability Linked Loan (SLL) to strengthen its Environmental, Social and Governance (ESG) agenda. The KES 15 billion deal, which is upscalable to KES 20 billion by accordion, is the largest ESG linked loan facility ever undertaken in East Africa, and the first of its kind for Safaricom
Absa Bank Kenya has partnered with Visa, a global leader in digital payments, to introduce the Absa Mobi Tap solution, a market-first payment solution that allows small businesses to accept card-based payments from customers using an Android smartphone. This convenient and secure solution quickens the purchasing process by leveraging the smartphone as a point of
With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union
Equity Group Holdings Plc enters into a binding term sheet with the Government of Rwanda, Rwanda Social Security Board, and other investors to acquire 91.93% of the issued share capital of Compagnie Générale de Banque (Cogebanque) PLC Ltd. Cogebanque is a public limited company licensed by the central bank of Rwanda (BNR) to provide banking
