NBC Tanzania has appointed Mr Pius Tibazarwa as Interim Managing Director of the bank to succeed Ms Mizinga Melu who has been assigned a new role as Chief Executive Officer of Barclays Africa Regional Management. The NBC Board Chairman Dr Mussa Assad said in Dar es Salaam that the outgoing NBC Managing Director has built
Tigo Tanzania has launched a mobile money service through which users could earn automatic return on their balance direct to their wallet without requiring a separate registration. The service in Tanzania is called Tigo Wekeza and will allow Tigo Pesa users currently about 3.5 million to enjoy quarterly payments based on the balance held in
Mobile network operator MTN has announced a partnership with online payments company Skrill to enable MTN subscribers to be able to make purchases from global internet brands that are integrated into Skrill’s network using funds in their mobile wallets. The partnership is being piloted in Ivory Coast and Rwanda. The network said MTN Mobile Money
Tanzanians have been urged to cultivate and strengthen a culture of keeping money in bank accounts for their safety and country’s economic development. Talking to journalists in Dar es Salaam over the weekend, a legal officer at the Deposit Insurance Board, Mr Rashid Mrutu, said the culture of having and keeping money in banks builds
The Bank of Tanzania issued a 500/- coin to replace the current 500/- note, which wear off easily. Addressing reporters in Dar es Salaam, BoT’s Director of Banking Service, Mr Emmanuel Boaz, said that the new coin will be in use early October. “Coins are more durable with a longer life span. Due to a
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. Commentary on Remittances for July 2014 Remittances to Kenya increased by 3.8 per cent to USD 117.1 million in July 2014 compared with USD 112.8
East African countries introduced various reforms including liberalization of the financial sector about two decades to sustain their economic growth. The countries namely, Tanzania, Uganda and Rwanda have seen huge gains but are paying a price at the expense of banking ethics and professionalism. Before the liberalisation, central banks in the region were custodian of
Kenyan merchant services company Kopo Kopo is celebrating four years of existence, having managed to register more than 10,000 businesses on the platform. The startup was launched with only a few thousand point of sale terminals and a handful of merchants accepting mobile money in the entire country. In a blog post, the company said
EthSwitch selected BPC Banking Technologies to create a national retail payments infrastructure BPC Banking Technologies, the leading provider of Open System payment solutions, announces that EthSwitch has chosen SmartVista to power its national switching operations in Ethiopia. SmartVista was selected because of its comprehensive functionality, advanced technology and proven track record in helping payment businesses worldwide
Regional banking solutions provider, Equity Bank Group, has engaged global management strategy firm McKinsey to play a business advisory role in the implementation of the Bank’s 3.0 strategy. On hand to close the partnership agreement at Equity Bank headquarters was Dominic Barton, McKinsey & Company Global Managing Director and Equity Bank Group Managing Director Dr
