Guaranty Trust Bank (GTBank) and Etisalat have formed a strategic alliance aimed at connecting 55 million unbanked Nigerians in the next few months, through the mobile payment system, that will enable them open a Tier 1 bank account, using their mobile phones. Announcing the initiative in Lagos last week, both organisations said the partnership would
In emerging markets, mobile money services have the power to simplify lives, offering people the convenience of paying from anywhere and at any time, but also to transform them, playing a social noble role by addressing the unbanked or underserved population in Africa, offering them payment services they did not have access to before, says Paul
Leading retail bank, Diamond Bank PLC, has launched an innovative banking product, Diamond Y’ello, as part of its financial inclusion programme to reach the unbanked. The Diamond Y’ello Account, which is run in partnership with mobile telecommunications giant, MTN Nigeria, is a hybrid account that offers the over 58 million MTN subscribers a fusion of
MasterCard has partnered the Grameen Foundation on AppLab Money, an initiative designed to create mobile financial services products for the unbanked and underbanked in Kenya. The collaboration is aimed at enabling low income communities in Kenya to access innovative financial products, with AppLab Money aiming to take appropriate mobile financial services to communities most in
KCB Bank Group has today made a key milestone in its technology-driven innovation targeting the unbanked population by launching a new product dubbed KCB M-Benki, the first in Kenya and the region. KCB M-Benki, will be accessed through the phone, and it allows any individual to easily open a bank account through the KCB Mobi
An innovative new banking idea is taking hold in Zimbabwe. At Zimbabwe’s first Cattle Bank you can deposit animals as collateral against cash loans. A large portion of rural Zimbabwe is still unbanked and many people hold their wealth in the cattle they own. The Cattle Bank allows them to get and utilise monetary value
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