The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorised international remittances service providers in Kenya. A remittance is money sent by a person in a foreign land to his or her home country. Due to the huge sums involved, remittances
Absa Bank, a wholly-owned subsidiary of JSE-listed Barclays Africa Group, welcomes the announcement by the president of Sumitomo Mitsui Banking Corporation (SMBC), Mr.Takeshi Kunibe, that will result in further business cooperation between the two banks. The latest cooperation agreement signed on 12 January 2014 in Maputo, Mozambique, focuses on the development of Mozambique’s natural resources,
The provider of mobile billing and messaging solutions, txtNation, has now launched its mobile billing solution using Premium SMS in Kenya, allowing businesses to accept mobile payments in the African country. Kenya is one of the fastest growing markets in mobile content and mobile commerce activity, with a 97% growth in 2013. With a population
The Helix Institute of Digital Finance has launched its first country assessment report in Uganda, based on over 2,000 mobile money agent surveys carried out in 2013 all over the country. Uganda is among four African countries participating in the world-class research project, selected for its contribution to the development of digital financial services globally.
Rupu is a daily deals and discounts website based in Nairobi, Kenya. Working on a similar model to deal sites like groupon they are introducing Kenyans to the possibilities of online shopping. Offering a wide variety of consumer goods and experience deals the daily deals site has gained a lot of popularity in Nairobi since
Over 8 million people in Tanzania who fall in the informal sector now have the opportunity to access banking services, thanks to the launching of a new banking service which utilises mobile phones. Speaking at a brief ceremony, Covenant Bank Executive Director, Ms Sabetha Mwambenja said that the launching comes at a time the government
It has come to the knowledge of the Bank of Mauritius that skimmed/cloned cards are in circulation and fraudsters are trying to use them on banks’ ATMs. Card skimming is the illegal copying of information from the magnetic strip of a credit or ATM card. This involves stealing information off a credit card during a
Airtel Networks Zambia Plc, a telecommunications service provider in Zambia and Nico Insurance Zambia Limited, have signed a partnership agreement that will enable customers to pay for their insurance using Airtel Money. From today, Airtel customers will be able to pay for their Insurance to Nico Insurance Zambia Limited using their “Airtel Money” accounts. This
The Acting Registrar of Cooperatives in the country, Dr Audax Rutabanzibwa, has commended farmers in the region for establishing the Kagera Farmers’ Cooperative Bank (KFCB), urging them to utilise its services effectively. He noted that the KFCB was exemplary and had made big strides during eleven years of existence, urging shareholders to increase their shares
B-PESA has inked deals with UnionPay, a move that gives the newly introduced prepaid bank loop card a wider operating territory outside Tanzania, covering 1.6 million ATMs and over 12 million merchants in 142 countries. Apart from UnionPay, many Tanzania based banks have expressed interest in partnering with Smart Banking Solutions (SBS) – the company
