IDT Corporation announced that its flagship Boss Revolution international money transfer service has launched a direct-to-mobile-wallet service to Kenya and Niger. Customers can now send money directly from any Boss Revolution money transfer retailer in the U.S. to any Airtel Money account in either country. Recipients will receive funds in their Airtel Money account within
Bank M said it is on the right track of realising its profit target of 25bn/- from its operations this year, after good performance during the first half, reflecting a bright future for the institution. The bank registered a pretax profit rise of more than 25 per cent to 11.51bn/-in first half of the year
CRDB Bank mobile branch has proved efficient in providing banking services to foreign and domestic companies participating at the ongoing Dar es Salaam International Trade Fair (DITF). CRDB bank In charge of the mobile branch Ms Rose Daniel said in Dar es Salaam at the ongoing DITF that the presence of the mobile branch has
TIB Development Bank has emerged winner in the Financial Institutions category at the ongoing 39th Dar es Salaam International Trade Fair for two years in row. Having recently acquired their licences to operate as a development and commercial bank under TIB Development Bank and TIB Corporate Finance respectively, the bank is now ready to provide
The Western Union Company , a leader in global payment services, in collaboration with the MTN Group, a multinational mobile telecommunications company servicing 229,2 million customers in 22 countries, announced the launch of a new mobile money transfer service in Rwanda and Ivory Coast. The new service allows MTN customers in both countries to receive
African Development Bank (AfDB) and Equity Bank (Kenya) Limited (Equity) have signed an agreement for a US $148-million multi-sector senior Line of Credit to facilitate onward lending to key economic sectors in Kenya. The Line of Credit (LoC) extended to Equity Bank Kenya by AfDB is expected to boost Kenya’s private sector development through financing
After five years of laying down the groundwork, the National Bank of Commerce (NBC) has finally started giving out loans through its Islamic Banking Window, it was announced. The bank officially started issuing Shariah-complaint loans — under its five-year old Islamic Banking Window — six months ago, Business Development Manager, Mr Eddy Mhina said at
The first SWIFT Business Forum East Africa took place in Nairobi and brought together close to 300 prominent members of the financial community and policy makers to discuss the many opportunities and challenges the region faces. “The theme for this year’s Business Forum is ‘Unleashing growth through regional collaboration’; by opening an office in one
Finca Microfinance Bank has teamed up with Airtel to provide mobile money transfer services to their customers. Customers of the microfinance bank will no longer have to travel or walk to branches of the bank for banking services for they can now use their cellular phone to get the services after introduction of Finca Mobile
TIB Development Bank that has been licensed by the Bank of Tanzania (BoT) to carry out banking business as TIB Corporate Finance Limited is still running short of capital to finance all development projects. The BoT has issued two licences to TIB Development Bank Limited and TIB Corporate Finance Limited, which is a designated Commercial
