MasterCard has signed a deal with regional card processor Paynet Group to partner in a local initiative geared towards encouraging the switch from magnetic strip to EMV cards. Dubbed “The Great Migration to EMV Chip,” the local initiative brings together various stakeholders in Kenya’s banking and payments technology sectors in an effort to hasten the switch
Ecobank Transnational Incorporated , the pan-African banking group announced the opening of its South Sudan banking affiliate. This new banking affiliate, the 34th on the African continent, offers the opportunity to support the youngest African state in addressing the challenges in regards to its development. Ecobank South Sudan has effectively started operations on 10 July
Regional banking group, Equity Bank’s reduction of interest rates by 700 bps from 25% to 18% has paid off by growing its loan book by Kshs 11 billion to Kshs 150 billion from Kshs 139 billion in the first quarter 2013 resulting in a growth of 21% in Year on Year. The massive reduction in
Ethiopia has emerged as one of the continent’s most exciting new markets, boasting the fastest growing non-energy-based economy in Africa, growing at an average annual rate of 11 percent GDP in recent years. Global’s optimism is supported by the IMF’s projection of Ethiopia as the 3rd fastest growing economy in from 2011 through 2015, trailing
Air Uganda launched a new revamped booking engine, with improved functionality. The new engine which is now live on the Air Uganda Website was unveiled to the press by the air Uganda management team at their headquarters in Kololo. The new platform which was launched in June this year allows customers to search, book and
Kenyatta University has unveiled a new prepaid, PayPass™-enabled card for its alumni body. The KU Alumni Card allows alumni to enjoy discounts with selected partners, ranging from hotels, bookshops and hospitals to insurance companies and mobile phone service providers. The KU Alumni Card allows card holders to transact at over 34 million MasterCard points of
Econet Wireless’ mobile money service, EcoCash, has jumped off the starting blocks registering 31% of Zimbabwe’s adult population in just 18 months. EcoCash accounts already outnumber all of Zimbabwe’s bank accounts combined. How has EcoCash achieved such early success? They have combined effective operational execution with an unusually high degree of investment and organisational focus.
The rising threat of automated teller machine (ATM) fraud, and the innovative technology solutions that financial institutions could adopt to address security challenges, will dominate discussion at tomorrow’s conference in Nairobi. At the event, Diebold, Incorporated and its Kenya distributor, Tracom Services Ltd., will showcase advanced self-service technology and security solutions that boost branch productivity
Tangazoletu Limited recently launched one of its products ‘Spot Cash’ at the Hotel Starbucks in Karatina town of Central province, Kenya. Speaking during the event, the company’s Technical Director Chris Gathingu, clearly explained that members of SACCOs (Savings and Credit Cooperatives) and Microfinance institutions will now be able to withdraw and deposit their money from
Kipochi Ltd has launched a groundbreaking solution that allows people to send/receive BitCoin and convert it to and from an M-Pesa balance. This enables Kenyans to receive money transfers from the diaspora in an easier, faster and cheaper way, compared to using banks and money transferring services such as Western Union and MoneyGram. Kipochi is
