ATM Solutions Zambia, a subsidiary of Paycorp, has installed its 20 ATM for Zambia’s Cavmont Bank. The installations to date have been located at Cavmont Bank branches across Zambia, with the latest being in the northern province of Mpulungu. ATM Solutions is largely driven by providing financial inclusion to people who otherwise have limited or
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
Rwanda’s President, Paul Kagame, has received a special recognition award at the African Banker Awards 2014 for Rwanda’s achievements, including spearheading the economic growth and transformation that the country has registered over the last 20 years. The annual event, which took place on Wednesday, May 21 at the ongoing Annual Meetings of the African Development
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
The Bank of Mauritius is pleased to announce that it has granted a new banking licence to Habib Bank Limited (HBL) to conduct Islamic banking business through a window operation, alongside its existing banking business. Mr Rundheersing Bheenick, Governor, Bank of Mauritius, handed over the new banking licence to Mr Abid Sattar, Regional General Manager,
After more than a year spent building anticipation, Nettcash has officially launched its mobile money service. As most people had noticed for more than a year now, Nettcash has established an online presence with a website that gave an outline of their products (albeit with a coming soon tag) as well as a subtle offline
Exim Bank Tanzania Limited has embarked on implementing its Vision 2016 that seeks to double its balance sheet and increase market share in deposits by 2016. Being the sixth largest bank in the country in terms of total deposits and assets, Exim Bank has set its eyes on an ambitious target for the year 2016.
Akiba Commercial Bank (ACB) plans to launch a branch in Mwanza region this year, bringing to 17 the number of branches in the country. Speaking in Dar es Salaam, ACB Head of Marketing and Communication, Mr Fredrick Archard, said that the opening of Mwanza branch is the continuation of the bank’s expansion strategy. “Many financial
Tanzania’s leading cellular network, Vodacom and the Commercial Bank of Africa (CBA)have launched a revolutionary banking service, M-Pawa, that will allow millions of Tanzanians to save and borrow money on the their mobile phones. His Excellency President Jakaya Mrisho Kikwete launched the service in Dar es Salaam and had this to say, “the historic launch
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
