Over the past five years, Bitcoin has grown from an experiment in digital cash to a vibrant, global economy supporting multi-million dollar companies with a market cap of $10 Billion. “While the road has been bumpy, and quite a rollercoaster ride, it is still nascent and holds immense promise to change the world in unprecedented
Standard Bank Group shows the best financial health of all the financial institutions on the African continent, according to The Banker Top 1000 World Banks 2014 rankings. They top the list in Africa with Tier 1 capital of US$10.57-billion and pre-tax earnings of US$2,9-billion. However, the list also shows that they slipped in the global
Jumia Nigeria is set to launch its cash on delivery service, which accounts for two-thirds of the companies total sales, nationwide this month, according to co-chief executive officer (CEO) Nicola Martin. “We will offer cash on delivery nationwide this month – between the middle and end of July we will offer cash on delivery everywhere
Local microfinance personnel affiliated to Unit Trust of Tanzania (UTT) are undergoing a week long training on how to provide services to the majority un-bankable rural folks with Bangladesh experience. Touted as a model in having microfinance institutions (MFIs) serve the majority rural farmers who have been denied banking services by commercial banks, Bangladesh has
East Africa will soon have a common mobile money platform that will enable users to send money from one country to another without any difficulty under exchange rates approved by central banks. This is according to Godfrey Kyama, e-banking advisor to the Commonwealth, in his presentation at the ongoing Tech4Africa conference in Nairobi. Kyama said
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
United Bank for Africa (UBA) has become the first Nigerian bank to offer transaction notifications on Twitter for its customers. UBA said the solution is based on a secure custom application it had built and enables its customers to receive bank transaction alerts directly on Twitter. “Dear Customer, we are happy to inform you that
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
Leading global microinsurance specialist MicroEnsure announces that it now serves more than 10 million enrolled clients. In the past six months, the company has more than doubled the number of clients reached through key partnerships with mobile network operators, microfinance providers and banks in Africa and Asia. Critical to the growth has been its partnerships
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
