The Central Bank of Kenya (CBK) has granted authority to Rabobank Nederland to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act. Rabobank Nederland is a cooperative bank owned by local cooperatives in Netherlands. Apart from offering financial services to its member cooperatives, Rabobank Nederland, which
Zimbabwe’s leading mobile money service, EcoCash, has teamed up with WorldRemit, the global online money transfer service, to offer customers instant international money transfers to EcoCash mobile wallets. Zimbabweans in 35 diaspora countries can make online remittance payments to friends and family in Zimbabwe. Using WorldRemit, Zimbabweans can send money online, through smartphones, tablets or
Kenyan startup Buymore is offering students discounts on their favourite brands and merchants through an electronic card, and has signed up 20 stores for the programme so far. HumanIPO reported last month Buymore was named a finalist for this year’s edition of the PIVOT East conference to be held in Nairobi on June 24 and
A Micro Finance Act to regulate micro finance services in Tanzania is in the offing, the National Assembly was told. Deputy Finance Minister Mwigulu Nchemba said the government had since 2013 engaged a consultant from the Economic and Social Research Foundation (ESRF) to review the country’s national micro finance policy of 2000 and propose changes
Qatar Airways, the national airline of the State of Qatar, has entered into a strategic partnership with Safaricom, to launch a service that now enables customers to pay for Qatar Airways tickets using M-PESA. The new service offers greater flexibility for Qatar Airways’ passengers who can now book tickets online on www.qatarairways.com/ke or through the
Ecobank Transnational Incorporated and ProCredit Holding (‘PCH’) have announced that they have concluded negotiations for the acquisition of the 96% stake in Banco ProCredit Mozambique previously held by ProCredit Holding and the DOEN Foundation. The transaction has received the approval of the regulatory authorities in Mozambique and the Bank has started trading as Ecobank Mozambique,
The Bank of Mauritius has announced that it proposed to investigate into the terms and conditions of banking contracts, including fees and charges. The objective of this exercise was to gain an in-depth understanding of the terms and conditions governing contracts between a consumer and a financial institution and to help achieve better outcomes. A
mHITs, a pioneering developer and operator of mobile payment services, has announced that it’s Australian SMS mobile wallet service has launched an international mobile remittance corridor between Australia and leading mobile money service M-PESA in Kenya. For the first time, this new corridor will provide for instantaneous direct mobile-to-mobile funds transfers between Australia and Kenya.
It is now possible to pay telephone bills with Telecash, following an agreement between Telecel Zimbabwe and TelOne, making it possible to avoid queuing to pay phone bills. Telecash subscribers can now pay their phone bills from the comfort of their home or office or even while travelling to work on a commuter omnibus, using
Tigo, Airtel and Zantel have announced a pioneering agreement to allow customers of Tigo, Airtel and Zantel in Tanzania to send money to each other whether using Tigo Pesa, Airtel Money or EzyPesa on their mobile handsets. It is expected that the service will start by end of June. This is the first agreement in
