Entrepreneurs from Somalia, South Somaliland and South Sudan were in the country for training on banking industry operations. The training provided by the Tanzania Women Bank (TWB) was aimed at helping them to learn about operations of the banking industry so as to be able to establish financial institutions in their countries. Speaking during the
NCR Corporation continues to deliver consumer transaction technologies and financial services around the world by installing Somalia’s first-ever automated teller machine (ATM) in Mogadishu, the East African country’s capital, with Salaam Somali Bank. “We are excited to bring the first ATM to Mogadishu. The installation serves as a sign of hope for the city as
ABC Holdings Limited announces that Doug T. Munatsi, Group CEO, Beki Moyo, Group CFO, and Francis M. Dzanya, Group COO, will be stepping down from their roles at BancABC at the end of the year. This follows Atlas Mara Co-Nvest Ltd’s (“Atlas Mara”) successful completion of its acquisition of BancABC in August 2014. Since the
Kenyan mobile app company Mobile Matrix has released PesaCalc, a free Android app that helps mobile money users in Kenya save money when using mobile money services. “PesaCalc helps Kenya’s mobile money users prepare exactly the right amount to send with the options of sending to registered and unregistered users, as well as including the
Banking the unbanked doesn’t come naturally to financial institutions who tend keep a firm eye on their top-line, however it is becoming increasingly clear just how important financial inclusion is for national economic development. M-Pesa in Kenya is the poster-child for how successful initiatives can be, and more and more countries across Africa are investigating
Mastercard and National Microfinance Bank (NMB) have agreed to roll out 1.5 million MasterCardpayment cards in a move aimed at reducing cash dependence and enhance financial inclusion. As a result of the partnership, NMB will issue secure EMVChip and PinMasterCard prepaid, debit and credit cards over the next seven years. The cards will feature MasterCard’s
Nigeria’s online payment platform SimplePay has announced a partnership with Ariiyatickets.com an online ticketing platform. With the partnership, individuals can now use SimplePay to instantly and safely purchase tickets to their favorite events. In a statement, SimplePay said the agreement is in line with objective which is to simplify the lives of thousands of connected
Exchange4free have been appointed as an Authorised Dealer in foreign exchange with limited authority in South Africa to operate as an independent Money Transfer Operator by the South African Reserve Bank. This licence is issued under the new Category 3 Money Transfer Operator license allowing ‘Person to Person’ remittances out of South Africa independently of
The management of Heritage Bank one of Nigeria’s commercial banks has launched portable POS solution a Mobile Point of Sale (mPOS) product that getting popular in various parts of the world. Niyi Adeseun, executive director, Manila Banking, Heritage Bank said: “The Nigerian retail and corporate market is undergoing a massive transformation in a battle for
In the era of information, the bank with the most actionable insights is the winner. The age of “Big Data” has begun to slowly filter through into the banking environment, with banks being able to design customer-centric solutions using statistical models and information gathering techniques. So, just, what is Big Data? The term refers to
