Diamond Bank PLC has delivered a double digit return on equity as it announced a 16.7% increase in profit before tax to N32.1billion for the full year ended December 31, 2013. On the back of the very good performance, the bank has proposed a dividend of 30k per 50k ordinary shares. In a statement released
The African Development Bank (AfDB) has approved a US$ 125-million Line of Credit (LOC) to Zenith Bank PLC (Zenith) for on-lending to Small and Medium-sized Enterprises (SMEs) in Nigeria. This 4th LOC to Zenith approved by the AfDB’s Board of Directors on Wednesday 26 March 2014 in Tunis, will enable Zenith gain access to long-term
The Central Bank of Nigeria (CBN) has said its cashless policy will not eliminate the use of cash for payments in Nigeria. Sarah Alade, acting governor of the bank, said at a cashless policy sensitisation exercise held in Ilorin, Kwara state, the cashless policy would only reduce the volume of cash transactions in Nigeria. Alade
Three subsidiaries of the pan African banking group, the United Bank for Africa (UBA) Plc, have emerged as World’s Best Emerging Market Banks in Burkina Faso, Cameroon and Senegal respectively. Specifically, UBA Burkina Faso, UBA Cameroun and UBA Senegal were considered the best in their various countries of operations by Global Finance magazine in an
FTS, a global provider of billing, charging, policy control and payment solutions, has announced that it has extended its relationship with national telecommunications provider Cameroon Telecommunications (Camtel). Camtel has signed a significant licensing expansion contract and renewed its agreement with FTS for convergent charging and billing support. FTS is also due to implement a major
Thames Card Technology Ltd (TCT), a manufacturers of secure and non-secure plastic cards, has won a tender to be the supplier for the production, personalisation and distribution of one million EMV chip payment cards for Ghana Commercial Bank (GCB Ltd.). Thames will also offer its portfolio of consultancy services to support GCB Ltd. in its
Nigeria’s Kuluya Games has introduced an SMS in-app payment option allowing players to buy items via SMS. Lakunle Ogungbamila, chief executive officer (CEO) of Kuluya Games, told HumanIPO the integration is operator-driven. “Basically it’s operator-driven, meaning game players can buy items with SMS. The way we have integrated it is that once a player decides
MTN Mobile Money users, who are also Ecobank customers in 12 African countries, will soon be able to withdraw cash from Ecobank ATMs. They will also be able to transfer money between their Mobile Money and Ecobank accounts. The service was piloted in Ghana last month, and will soon be launched in Benin, Cameroon, Ivory
The Western Union Company, a leader in global payment services, has announced the launch of a new mobile money transfer service to Nigeria, which increases the reach of Western Union payout options in the country. The new service to Nigeria integrates directly with Paga, the leading mobile payment platform in Nigeria, with more than 1.2
European investment company Accel Partners has invested US$40 million in WorldRemit, an online money remittance service operating in Ghana and Somalia, providing the service’s first Series A investment. Founded in 2009, WorldRemit has partnerships with Safaricom’s M-Pesa, international banks and mobile operators, providing remittance transaction services to approximately 1.3 million people every year “We expect
