Cambria announced it has executed agreements with a subsidiary of Johannesburg based Nisela Capital (Nisela) relating to the placement of US$ 2 million in convertible debt into its Payserv subsidiary. Half the proceeds of the financing will remain with Payserv, the other half will flow to Cambria. Proceeds of the financing will be used to
Nedbank is entering the Mozambican banking market by acquiring an initial 36.4% shareholding in Banco Unico for $24.4m, subject to various conditions and regulatory approvals both in Mozambique and South Africa. Banco Unico is currently the sixth largest full service bank in Mozambique, established in 2011 by the Portuguese Investment company Group Americo Amorim Holdings
Equity Bank Group’s profits after tax jumped 22 percent to Kshs 3.21 billion from Kshs 2.63 billion posted within the same period last year. Despite a challenging business environment characterized by uncertainty from the recent general elections and falling interest rates, prudent cost and risk management saw Equity Bank’s total income rise by 13 percent
Centenary Bank of Uganda has unveiled CenteMobile, a mobile banking service for its customers. The service supports funds transfers, account and statement queries as well as airtime purchases and bill payments. It can be accessed on all mobile networks including MTN, Airtel, Warid, Orange and Uganda Telecom. The service is supported for both simple and smart phones.
FNB Mozambique has been awarded the PMR.Africa Golden Arrow award 2013 for Personal Banking Excellence. The awards were conferred by PMR Africa (Performance Management Review), a research consultancy, at an awards ceremony held in Maputo yesterday. Rated by over 150 CEOs, MDs, business owners, company directors, and Government officials based in Mozambique, the award recognizes
Dutch bank, Rabobank Group has received permission from the Central Bank of Uganda to take a stake of 27.5% of the shares of ownership in the dfcu Bank, ranked 5th among the licensed commercial banks in Uganda. The partnership will be managed by subsidiary Rabo Development, which actively participates in 7 partner banks in developing
National Bank of Kenya has launched an Islamic banking window as it seeks to expand its business portfolio into the retail and corporate segments. The window, called ‘National Amanah’, is targeted at retail, SME and corporate clients offering banking products and services in compliance with Islamic shariah. Though based on Shariah compliance the products and
Google has teamed up with Equity Bank, the largest bank in East Africa, to launch BebaPay, a payment card that makes it easier and more convenient to pay for bus travel in Kenya. People travelling on key Nairobi bus routes such as Riruta, Karen and Jogoo Road will be able to pre-load money onto their
evriPay, the African based merchant account provider, announced that it’s eCommerce services are now available to online merchants in Kenya. evriPay will allow Kenyan online merchants to accept Visa and MasterCard payments from anywhere in the world on their websites. Every transaction will require 3D Secure authentication and then also be vetted by the CyberSource Fraud Management
AFB, a consumer finance company headquartered in Mauritius, has today opened a new office in Nairobi, Kenya, in a Ksh250 million capital investment. This development brings the number of afb’s offices across the African continent to four, with other offices operational in Lusaka, Accra and Cape Town. Speaking in Nairobi, afb’s Chief Executive Officer Karl
