Stanbic Bank Kenya and Mobikey Kenya Ink Deal to Revolutionize Vehicle Financing

Stanbic Bank and Mobikey Kenya, a leading player in the zero-mileage vehicle distribution industry and a member of Grupo Jap have signed a Memorandum of Understanding (MOU) set to transform vehicle financing in Kenya. This landmark agreement marks Mobikey’s first local partnership and is set to make vehicle financing more accessible and affordable, particularly for

Unlimit Secures Payments Licence in Tanzania and Further Expands Presence in Africa

Unlimit, the global fintech company, today announced its entry into the Tanzanian market and the receival of the Bank of Tanzania (“BOT”) licence, marking another significant step in the company’s expansion within the region. The approval of Unlimit as an authorised payment service provider by the BOT will allow the fintech to provide a range

Equity Group Ranked the World’s 2nd Strongest Banking Brand

Equity Group, East and Central Africa’s largest financial institution, has fortified its position as one of the strongest banking brands globally by scoring highly, in the 2024 Brand Finance’s Brand Strength and Brand Value rankings. In its third consecutive appearance in the Brand Finance Banking 500 rankings, Equity climbed from 4th position in 2023 to

ACCOSCA and Visa Launch a Project to Boost Financial Inclusion in Kenya and Tanzania

In a bid to improve the access and usage of formal financial services among underserved communities and small businesses in Kenya and Tanzania, ACCOSCA (the African Confederation of Co-operative Savings and Credit Associations) and Visa, a global leader in digital payments, have partnered to launch the Financial Inclusion in Kenya and Tanzania (FIKT) project. The

The Future of Trade Finance in Sub-Saharan Africa Amidst Hard Currency Challenges

With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union

Tigo, Selcom and Mastercard Partner to Launch Online Digital Payment Solution in Tanzania

All Tigo Pesa customers in Tanzania, can now make online payments globally with their Mastercard Virtual Card. Tigo Tanzania, Selcom and Mastercard Inc. have announced a strategic partnership that will see the three industry leaders revolutionize the digital payment ecosystem by enabling convenient online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service

EIB and CRDB Bank Provide €540 Million to Support Businesses in Tanzania

New investment by companies across Tanzania will benefit from EUR 540 million (TSh 1.3 trillion) of new financing backed by the European Investment Bank, CRDB, NMB and KCB-Tanzania announced at the EU-Tanzania Business Forum in Dar es Salaam earlier today. The European Investment Bank’s first engagement in Tanzania for seven years includes expected targeted support

Ukheshe Takes a Fresh, Dynamic Approach to its African Growth

The adage ‘jack of all trades, master of none’ is apt for enterprises considering expansion into new African markets. Anthony Karingi, Vice President of Business Development – East Africa at leading fintech enablement partner Ukheshe, says the company is taking a collaborative approach to its regional expansion strategy – and is already reaping the benefits.

Mojaloop Foundation’s Walk the Loop Event in Tanzania Shows Path to Financial Inclusion – Desire Kachenje

In Swahili, “Mojaloop” means “one loop.” The Mojaloop Foundation strives to create one financial services loop for everyone. The Mojaloop Foundation’s open source software, Mojaloop, was designed to provide a reference model for inclusive instant payment interoperability to overcome barriers that have slowed the spread of digital financial services. Using Mojaloop, central banks, hub operators,

Equity Group Reports Strong 3rd Quarter Performance

Kshs.34.4 billion, PAT and Kshs.1.264 trillion assets 28% Profit After tax growth 31% growth in Non-funded income 27% growth in Earnings per Share 15% growth in customer deposits 21% growth in net loans Equity Group Holdings Plc today reported Kshs.34.4 billion shillings profit after tax for the nine months to 30th September 2022. The Group recorded