Regional banking group, Equity Bank’s reduction of interest rates by 700 bps from 25% to 18% has paid off by growing its loan book by Kshs 11 billion to Kshs 150 billion from Kshs 139 billion in the first quarter 2013 resulting in a growth of 21% in Year on Year. The massive reduction in
Kenyatta University has unveiled a new prepaid, PayPass™-enabled card for its alumni body. The KU Alumni Card allows alumni to enjoy discounts with selected partners, ranging from hotels, bookshops and hospitals to insurance companies and mobile phone service providers. The KU Alumni Card allows card holders to transact at over 34 million MasterCard points of
The rising threat of automated teller machine (ATM) fraud, and the innovative technology solutions that financial institutions could adopt to address security challenges, will dominate discussion at tomorrow’s conference in Nairobi. At the event, Diebold, Incorporated and its Kenya distributor, Tracom Services Ltd., will showcase advanced self-service technology and security solutions that boost branch productivity
Tangazoletu Limited recently launched one of its products ‘Spot Cash’ at the Hotel Starbucks in Karatina town of Central province, Kenya. Speaking during the event, the company’s Technical Director Chris Gathingu, clearly explained that members of SACCOs (Savings and Credit Cooperatives) and Microfinance institutions will now be able to withdraw and deposit their money from
Kipochi Ltd has launched a groundbreaking solution that allows people to send/receive BitCoin and convert it to and from an M-Pesa balance. This enables Kenyans to receive money transfers from the diaspora in an easier, faster and cheaper way, compared to using banks and money transferring services such as Western Union and MoneyGram. Kipochi is
Standard Chartered Plc will start offering Islamic banking in Kenya as a springboard into the rest of Africa and it may expand services in Indonesia, its global head of Islamic consumer banking said. Shariah-compliant banking makes up two percent of Kenya’s banking industry, split between two Islamic lenders and conventional banks with Shariah-compliant products, like
M-PESA, the flagship brand of the leading integrated communications service provider Safaricom Limited, has now set its sights on the medium and small entreprises with the launch of Lipa Na M-PESA- a campaign aimed at entrenching the use of its payment services as primary tool of transactions. Lipa na M-PESA is an umbrella service for
Aftab Currency Exchange, a remittance and foreign exchange brand with a presence in three continents, has strengthened its bonds with Airtel Communications, a leader in global payments services to extend joint operations in Kenya and Nigeria. Aftab Currency has taken another initiative with Fidelity Bank with an active network of 173 branches across Nigeria to
Professor Dan Horne, Chief Knowledge Officer at Gx, in conjunction with Dionne Nickerson of Providence College, has recently published a white paper called ‘Understanding the Drivers of Mobile Payment Adoption: Comparing Kenya and Tanzania’. The study looks at the perceived impact on business development and wealth creation that pervasive mobile payments usage generates and compares
MasterCard announced the launch of a brand new training facility in Kenya to empower the financial services ecosystem with knowledge on various aspects of cashless payments in order to boost acceptance readiness in the region. The training centre, located at MasterCard’s East Africa offices in Eldama Park, off Peponi Road, will be used for training
