The latest version of the FNB Banking App for smartphones now offers customers the ability to send money across the border from South Africa to Zimbabwe and Mozambique. Since its launch three years ago, the banking App has seen rapid uptake in users and transactions, making the introduction of the cross-border money transfer service on
Interswitch Transnational Holding, the leading pan-African integrated payments company, announces it has reached a partnership agreement with the Paynet Group, East Africa’s leading multi-institutional payments provider, to combine its businesses. Interswitch will acquire a majority shareholding in Paynet Group and unrivalled existing shareholders will become shareholders of the Interswitch Group. Bernard Matthewman, current CEO of Paynet,
The mass market in Somalia will now be able to access various banking products virtually through their mobile phone after Kenya’s Rapid communications recently acquired 16% shareholding in Nationlink telecom, a GSM operator, along with the license for banking services. The company currently manages the content management system (CMS) platform for Nationlink telecom and with
Bharti Airtel has unveiled an Airtel Money Premier VISA card that will enhance Premier customers experience and convenience on the company’s mobile money and banking services and ensure that they get added value. With this new card, Airtel money Premier customers will be able to shop and pay for goods and services using Airtel Money
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
