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
Kopo Kopo has announced that they have now processed over 1 million transactions. A statement on their blog said, “We’re thrilled to announce a big milestone for Team Kopo Kopo. A few weeks ago, we processed our 1,000,000th payment via Lipa na M-PESA. Our first live Lipa na M-PESA payment was for six bottles of
In an effort to reward its most loyal customers, Econet this week introduced a loyalty program, the Econet Platinum Card. Under the program, holders of the loyalty card will get preferential access to some Econet services, Econet shops and the call centre. The members will also get exclusive access to some packages from partner companies
Holding a third of the world’s 61 million active mobile money accounts, Kenya is the clear global leader in digital finance. Across East Africa, Kenyan agents generate the highest amount of transactions per agent, but the lowest amount of profits in the region. Surprisingly, Kenyan agents earn a lower median profit per month ($70) than
Online money transfer service WorldRemit has partnered operator Tigo Tanzania to allow individuals sending money to friends and family living in Tanzania to have the funds delivered to a Tigo Pesa mobile wallet. The deal is available for customers sending money from the 35 countries in which Tigo has a presence, with the companies saying
Kenya’s Equity Bank hopes the launch of its mobile virtual network will remove confusion from the country’s mobile financial services sector, and aims to have all consumers using two SIM cards on their mobile. HumanIPO reported in April the Communications Authority of Kenya (CAK) issued mobile virtual network operator (MVNO) licences to three applicants, including
A year after launching its successful Zimbabwe Money Transfer service, FNB has added an additional affordable cross border service, this time to Mozambique. This service is available to qualifying FNB customers in SA to send money to residents in Mozambique instantly, through its Cellphone and Online Banking channels. “We have seen with the FNB Zimbabwe
