Kenya Commercial Bank (KCB) in partnership with Visa has launched its MeCash prepaid card to allow users to make payments with more ease. Speaking at the launch, KCB managing director Samuel Makome said the world is going cashless and KCB is delighted to be part of the exciting journey. “In our effort to remain competitive
Cybercrime is on the rise in Kenya and one of the most affected areas is mobile money, according to a report launched by Serianu and the Telecommunication Service Providers Association of Kenya (TESPOK). The Kenya Cyber Security Report 2014 said: “In 2013, we noted an increase in mobile money fraud targeting individuals and organisations. The
The National Microfinance Bank (NMB) sound business model and exceptional performance are among the aspects that made the bank to scoop the award of the best bank in Tanzania. The NMB Chief Executive Officer, Mr Mark Wiessing, said the award was a testament of the achievements that the bank had registered across its core retail,
M-PAWA, a new banking product introduced by Commercial Bank of Africa and Vodacom has raked in 1.2bn/- in three weeks only after it was launched. Vodacom Tanzania’s Managing Director, Mr Rene Meza told the ‘Daily News’ that the money were savings from 50,000 people who had registered for the new service that allows customers to
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,
