Kenyan mobile operator Safaricom has opened up its M-Pesa mobile money agents network to rival operators, allowing integration between various mobile money platforms, according to a report. Business Daily reports the move now allows investors to run M-Pesa services alongside rival mobile money platforms provided by Airtel and Orange. Last month Safaricom was braced for
A few days ago, Telecel’s General Manager, Angeline Vere disclosed that the company’s mobile money service that was launched 5 months ago, Telecash, now has 600,000 registered subscribers. This is an impressive number in a number of ways, but mostly in comparison to Econet’s EcoCash, which has generally been regarded a success. Consider for example
Tanzanians have been urged to build and strengthen a culture of saving through banks and other financial institutions for their own benefits and the country’s economic development. Talking to journalists in Dar es Salaam, the Deposit Insurance Board (DIB) officials said the culture of saving through banks enables depositors access loans for their development. The
Members of the public in Tanzania may soon start accessing credits on competitive terms, thanks to the Credit Reference Bureau (CRB), that commercial banks have embraced amid optimism that the data base will help to extend financial services to more people, a new study has shown. CRB is the database for consumer credit information that
Local microfinance personnel affiliated to Unit Trust of Tanzania (UTT) are undergoing a week long training on how to provide services to the majority un-bankable rural folks with Bangladesh experience. Touted as a model in having microfinance institutions (MFIs) serve the majority rural farmers who have been denied banking services by commercial banks, Bangladesh has
East Africa will soon have a common mobile money platform that will enable users to send money from one country to another without any difficulty under exchange rates approved by central banks. This is according to Godfrey Kyama, e-banking advisor to the Commonwealth, in his presentation at the ongoing Tech4Africa conference in Nairobi. Kyama said
TIB Development Bank has completed the process to establish a subsidiary that will focus on corporate financing. The new entity, TIB Corporate Finance Limited, will focus on corporate banking business in all its branches and agencies. TIB Managing Director, Mr Peter Noni, said that with the separation of activities, the bank will be able to
Members of the Kenya Bankers Association (KBA), the banking industry umbrella body, appointed their Governing Council during the KBA 52nd Annual General Meeting that was held on 26 June 2014. The new Governing Council will serve for a period of 12 months under the chairmanship of Joshua Oigara of Kenya Commercial Bank (KCB), and vice
Mobile transactions in Zimbabwe rose by 5.07 per cent in April to US$360.67 million from US$343.26 million in March, according to the latest figures released by the Reserve Bank of Zimbabwe (RBZ). The country in March recorded a 22 per cent increase in mobile and internet-based transactions, rising from US$281.56 million in February. The latest
In a bid to provide efficient and secure services, CRDB Bank has further improved its SIM Banking to accommodate new features that give customers the conveniences to perform more transactions at any location in the world. Mobile phones have clearly shown that they can be an effective channel to provide financial services including remittances, savings
