The National Retail Federation issued the following statement from Senior Vice President and General Counsel Mallory Duncan in response to U.S. District Court Judge John Gleeson’s approval of a controversial antitrust lawsuit over credit card swipe fees. “We are very disappointed that this deeply flawed settlement has been approved. It is not supported by the
The Managing Director/CEO of Guaranty Trust Bank plc, Segun Agbaje has been announced as the 2013 Pan Africa- CEO of the Year award winner by EMEA Finance, United Kingdom. Hosted by EMEA Finance; the leading bimonthly global industry publication that reports on major financial events influenced by the international financial industry active in Europe, Middle
Botswana central bank, Bank of Botswana says it will introduce a new family of coin in the first quarter of 2014, the bank disclosed in a statement this week. The introduction of the new coin follows a comprehensive review of the national currency, in this case Botswana coin. “This is in line with international norms
Smart Banking Solutions Limited (SBS) has introduced the first prepaid bank grade closed loop card of its kind in Tanzanian market, named B-PESA. Speaking shortly before unveiling the B-PESA card at a ceremony held in Dar es Salaam on Wednesday, the SBS Managing Director Mr Gustav Vermaas said the card allows a customer to transact
The 2013 Billing Household Survey from Fiserv, a provider of financial services technology solutions, has found consumers are paying their bills in more ways than ever before, with the number of consumers paying bills from smartphones and tablets growing significantly. Gen Y in particular prefers a variety of channels and immediate payment options, and uses
Barclays Bank of Kenya has unveiled a new cardless money transfer service that allows customers to send and receive money at any Barclays ATM. The service, named “CashSend”, will allow Barclays Bank of Kenya account holders to securely transfer money to mobile phone subscribers. Transactions will originate from Barclays ATMs, with recipients similarly withdrawing their
Robert Diamond is planning to return to the business of banking through a large investment into the banking sector in Africa. Diamond, who left his position as CEO of Barclays last year after a rate-fixing scandal, is looking to raise $250 million to invest in African banking through a corporate shell known as Atlas Mara,
Bank of Tanzania (BoT) is out to hook ‘unbankable’ population to the financial services at affordable costs at a time when penetration is around 14 per cent. The BoT and financial inclusion stakeholders will launch a National Financial Inclusion Framework on Thursday, an occasion expected to be graced by Queen Máxima of the Netherlands and
A new publication, Financial Inclusion in Africa, by the Complex of the Chief Economist of the African Development Bank (AfDB) finds that for sustained and inclusive development to thrive, a great deal of innovation is needed to ensure that appropriate financial services and instruments are put in place for the benefit of the poor and
Airtel Networks Zambia Plc, a telecommunications service provider in Zambia, and the airline, Proflight Zambia, have signed a partnership agreement that will enable customers to purchase air tickets countrywide. Airtel customers will be able to pay for their Proflight Zambia air tickets using their “Airtel Money” accounts. This partnership is a reflection of the synergies
