The Bank of Tanzania has licensed China Commercial Bank (CCB), to operate in the country bringing to over fifty, the number of financial institutions in the country. According to the Central Bank, (BoT), the new bank has no banking affiliation with another bank in China or Tanzania. The BoT Director of Banking Supervision, Mr Agapiti
The shareholders of Equity Group Holdings (formerly Equity Bank Limited), have approved a raft of resolutions to set the foundation for the firm’s pan African expansion initiative The approvals, which were secured during the firm’s 11th Annual General Meeting (AGM) held today now places the Group on the path of a continental expansion of its
A Local bank by teachers, Mwalimu Commercial Bank is set to boost Dar es Salaam Stock Exchange (DSE) capitalisation to 25 per cent and transform capital market landscape in the country. The bank, currently in final preparations before taking off and expected to list at the DSE alternative market in June, is expected to double
The e-commerce leader in Africa formalizes the appointment of Francis DUFAY at the head of its subsidiary in Côte d’Ivoire. This announcement follows the appointment of Fatoumata BA with whom Francis DUFAY led JUMIA Côte d’Ivoire since April 2014, to the position of Managing Director at JUMIA Nigeria. Having arrived in April 2014 as Co-Managing
Multi-banking is becoming a common trend in South Africa as various businesses, public sector institutions as well as individuals prefer to bank with more than one banking partner. According to an annual business tracking survey done by TMS, 14% of small businesses do not have a ‘main bank’ and this is also prevalent in 26%
The mobile payments company Fortumo is launching hybrid subscriptions using carrier billing. Hybrid subscriptions enable merchants to provide access to content on a limited time basis in low-income markets. Fortumo’s new product is intended to complement its subscription payments solution (available in more than 20 countries globally) in regions where recurring billing has proven to
United Bank for Africa (UBA) Plc has released 2014 full year audited results showing that consolidation of its African operations and enhanced productivity across the group are sustaining the Bank’s growth momentum. The results of the Pan-African Bank, released on Wednesday at the Nigerian Stock Exchange (NSE), show a 10% growth in gross earnings to
The Cost of Chargebacks Though accepting credit card payments is beneficial to a business, chargebacks can cause major drawbacks. We covered a few aspects of the chargeback process here and here. In this post we’ll discuss how to avoid chargebacks. If a customer disputes a transaction for one reason or another, the merchant will have
It can sometimes be difficult to totally avoid chargebacks. In light of this its best for a merchant to understand how the chargeback process works and what to expect when a chargeback request against you is requested by a cardholder. Before we look at the process, here are some of the terms you need to
Stanbic Bank says keeping account security is a top priority to make customers free from stress of losing their money. According to the Stanbic Bank Head of Channels Farha Mohamed, the bank has a primary role to play in keeping secure the banking details but customers too play vital role in ensuring the account security.
