Nigeria’s exchange rate policy has been a blessing to some and a burden to many. Nigerians that earn in foreign currencies have had more than a 200% increase in their purchasing power in the last 2 years.
IFC, a member of the World Bank Group, together with The MasterCard Foundation today announced it signed an agreement to a value of $1 million with payments service provider Zoona to strengthen the reach and depth of its mobile banking services for low-income people, small-scale entrepreneurs and rural populations in Zambia.
Latest entrant into the financial sector, Commerz Savings and Loans, is embracing technology to reach and attract the unbanked population into the banking sector.
Tier 1 lender Kenya Commercial Bank has announced that is set to lay off a section of employees in what it attributes to technological changes and a dynamic regulatory regime.
The Central Bank of Nigeria (CBN) continues its efforts to increase the availability of Foreign Exchange in order to ease the difficulties encountered by Nigerians in obtaining funds for Foreign Exchange transactions.
Equity Bank Tanzania, a scion of Kenyan lender Equity Group has unveiled its new Zanzibar branch bringing the number of branches under Equity Tanzania to 14.
TerraPay has announced that it has partnered with MoneyTrans, as well as Paga, Nigeria’s pioneering payments and financial services company, to launch cross-border remittances from Spain to mobile wallets in Nigeria.
Digital money transfer service WorldRemit is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad.
I&M Holdings has announced the successful completion of merger of Giro Commercial Bank Limited (GCBL) into I&M Bank Limited (IMBL), which is IMHL’s banking flagship subsidiary.
MoneyGram and Capital Bank, announced today the launch of MoneyGram’s services across Capital’s Bank network in Ghana.
The Board of Directors of foremost African financial institution; Guaranty Trust Bank plc, has announced the appointment of Mobolaji Lawal as an Executive Director of the Bank. Prior to his appointment, he was the Divisional Head, Digital Banking Division.
Kenya’s tier 2 lender National Bank of Kenya is looking at growing non-interest income avenues occasioned by the capping of interest rates last year which has so far slashed interest earnings on loans.
Kenya Bankers Association has unveiled a new inter-bank application that will enable the transfer of funds from one bank account to another in real-time.
The Africa Finance Corporation (AFC) has formally launched its Corporate Social Responsibility (CSR) Program: AFC Clean Water Campaign.
Access Bank may receive up to N1.14 billion in onetime gains in the first quarter of 2017, from the sale of its investment in Stanbic IBTC Pension Managers (SIPML).
[Egypt] National Postal Authority and Commercial International Bank sign MOU on regulation of financial services
The National Postal Authority (NPA) and the Commercial International Bank-Egypt (CIB), have signed a Memorandum of Understanding (MoU) for the regulation of financial services and the establishment of a financial inclusion base.
The launch of a new mobile banking application in Kenya by Pan Africa group Ecobank Transnational is its latest attempt at courting technology to grow its customer base from the current 10 million to 100 million in 2020.
[Nigeria] Access Bank’s Centralised Operations Group Constructs Hostel for Visually Impaired Persons
Access Bank’s CSR has identified The Federal Nigerian Society for the blind (a Non-Governmental Organization) as the beneficiary of her volunteering effort.
The South African Reserve Bank (Sarb) is open to issuing a national digital currency, which would likely be based on Blockchain or Distributed Ledger Technology (DLT).
A delegation from Abia State of Nigeria, led by Governor Okezie Ikpeazu, yesterday in Cairo conducted a one-day visit to the Headquarters of the African Export-Import Bank, holding discussions with Bank representatives on how the continental trade finance bank could support the state’s effort at industrialization.
The Central Bank of Kenya (CBK) has given six banks the green light to launch a mobile money transfer platform, heralding a new dawn in the highly competitive and lucrative financial services market segment.
Senegalese mobile money company Wari is to buy Millicom’s Tigo mobile business in the country for $129 million.
Jennifer Theuri, a career banker, has been appointed CEO of Integrated Payments Services Limited, IPSL, a fully owned payments technology offshoot of the country’s bankers umbrella body, the Kenya Bankers Association.
Largest bank by balance sheet, CRDB, has announced it is working on a plan to increase its focus on the mortgage market as it seeks to position itself to provide affordable housing to Tanzanians
QNB Group has maintained its ranking of the most valuable banking brand in the Middle East and Africa region according to the annual survey carried out by Brand Finance and published by The Banker magazine
For the sixth consecutive time, First Bank of Nigeria has been named the most valuable banking brand in Nigeria in The Top 500 Banking Brands of The Banker magazine of the Financial Times and Brand Finance, London.
The granting of full banking licenses to Beige Savings and Loans is now expected to increase the number of banks in Ghana to 34.
Curve Group has acquired Paperless Software Solutions, a developer of integrated solutions that cut down paper-based admin in virtually any business process.
African countries must implement strong legislation to foster the growth of factoring in order to enhance access of the continent's small and medium-sized enterprises (SMEs) to much-needed finance, participants at a sensitization seminar discussing Afreximbank's Model Law on Factoring in Nairobi Kenya heard.
A finance and banking team from pan-African law firm Bowmans represented and advised long standing client Standard Bank and Stanbic Bank Botswana Limited in connection with a senior secured $30 million multi-currency term, revolving and overdraft financing made available to Wilderness Holdings Limited and a number of its subsidiaries in various jurisdiction
MicroSave and The MasterCard Foundation collaborate to Advance Digital Finance Services in Francophone Africa
MicroSave, in partnership with The MasterCard Foundation, today launched a new program to develop tailored training courses in digital financial services (DFS) in francophone markets of Africa.