Chantelle Benjamin The South African Post Office (Sapo) planned to grow its financial and Post Bank services to retain profitability amid declining mail figures, acting chief financial officer Nick Buick said. Sapo is due to release its annual results in the next few months, which are expected to continue a six-year profit trend. Buick said
Visa comes calling as it eyes Sub-Saharan Africa
Macharia Kamau Visa International has announced plans to open a Kenyan office in the third quarter of this year that will serve as its regional headquarters. The technology payments company said its Kenyan hub will service some 25 countries in sub Saharan Africa, except South Africa. Previously, countries in the Sub-Sahara were serviced from
Mobile money: So far so good, but…
MUBATSI ASINJA HABATI Its fast growth raises concern that the absence of supervision is a risk neither the banking nor telecommunications industry can afford to ignore Recently I went out to send Shs 840,000 to my village. Normally this is s pretty simple exercise, but my usual mobile money agent in Kamwokya said he had
Mobile payment gathers momentum in Nigeria
KUNLE AZEEZ Nigeria is moving towards the era of mobile payment system also known as mobile banking, as discussions on the subject-matter have been on the front-burner of major fora by stakeholders in the nation’s electronic payment system. Mobile Money also known as mobile banking or mobile payment (m-payment) is the transfer of monetary value
University rioters loot MobileMoney Agency
Makerere University students have gone on strike protesting the recent announcement by the University secretary proposing to increase tuition fees. The students started early morning by moving around various faculties rallying other students to join them in the demonstration and on their way out of the gate, they were intercepted by police and started engaging
Sarona invests in MTZ
Sarona Asset Management has invested $300,000 in Zambian mobile transaction processing company, Mobile Transactions Zambia (MTZ). The funding is expected to facilitate regional expansion. Mobile Transactions offers a mobile money transfer service, covering electronic vouchers and electronic payment systems. “Building accessible and affordable information and communication pathways is critical to a society’s economic development,” said
MTN to Ease Loans, Bills Payment
Dias Nyesiga MTN Rwanda in partnership with banks, Microfinance institutions (MFIs) and government parastatals plans to introduce payment of loans and other bills through mobile money system. Albert Kinuma, the Head of Mobile Money at the Nyarutarama based telecom operator said, Tuesday, that the system requires users to first register with mobile money and open
Innovations steer Saccos towards paperless era
Okuttah Mark Sacco groups and fast moving consumer goods companies can now reduce their operational costs by tapping into digital financial applications. Oscar Ahere, a product development manager at Flexus Technology, says while some Saccos have started embracing the use of money transfer services such as M-pesa, Zap, Orange Money and Yucash, they
Safaricom wins contract for online cheque clearance
VICTOR JUMA Safaricom has won a multi-million shilling contract to supply high-speed Internet for the cheque truncation system, making it one of the biggest deals the firm has signed in the corporate data market currently dominated by AccessKenya. The listed telecom company has signed a five-year deal with the Kenya Bankers Association (KBA) starting
Phones to drive KCB’s agency banking
MOSES MICHIRA KCB will rely on its mobile system to roll out agency banking services launched on Wednesday, deepening telecommunication companies’ linkages with financial institutions in joint ventures to reach out to the unbanked population. The bank’s chief executive officer, Mr Martin Oduor-Otieno, said agents will only require telephone handsets to accept deposits and
