Search Results for: world bank
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News
GSMA, ITU and World Bank partner to boost handset affordability
The GSMA, World Bank, and other global institutions have announced a new coalition to improve handset affordability for lower-income populations.…
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News
Safaricom Ethiopia closes funding transaction from World Bank’s investment arms
Safaricom Ethiopia is set to receive funds from the World Bank Group, following the closure of the transaction during a…
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News
World Bank awards 10 Southern African fintech startups $5,000 each
10 Southern African fintech startups have each received $5,000 (R94,020) from the World Bank to help bridge the gap in…
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News
Kenya receives $390m from World Bank to accelerate digital economy
The World Bank has approved a $390 million grant for Kenya’s Digital Economy Acceleration Project. This is the first phase…
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News
World Bank and PFG To Provide $30 million for Fintechs in Emerging Markets
The World Bank, through its global development institution the International Finance Corporation(IFC) and US-Based fund manager Partners for Growth (PFG)…
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New Appointments
World Bank Appoints Keith Hansen New Country Director for Kenya
The World Bank has appointed Keith Hansen as the new Country Director for Kenya, Rwanda, Somalia, and Uganda effective September…
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Startups
World Bank allocates US$200 Million to support SMEs in Egypt
The World Bank has approved the allocation of $200 million to support SMEs in Egypt. The fund will focus on…
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New Appointments
World Bank Appoints Mr. Felipe Jaramillo New Country Director for Kenya
Mr. Felipe Jaramillo has been appointed as the new World Bank Country Director for Eritrea, Kenya, Rwanda and Uganda, effective…
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New Appointments
Hafez Ghanem Takes Over as World Bank’s Vice President for Africa
The World Bank has appointed Hafez Ghanem as the new World Bank Vice President for Africa, effective July 1. A development…
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News
World Bank Injects Ksh.5 Billion To Support Kenyan SMEs
In a major development, the World Bank has today announced that it has injected Ksh. 5 billion to support Kenya’s Small…
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News
World Bank Rolls out new Mechanism to Protect the Environment and Project Beneficiary Communities
A workshop to support the implementation of the new World Bank Environmental and Social Framework (ESF) has kicked off today…
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New Appointments
World Bank appoints Makhtar Diop as Vice President for Infrastructure
Makhtar Diop has been appointed as the World Bank’s Vice President for Infrastructure effective July 1st, 2018. Before his appointment,…
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BUSINESS
World Bank Approves Ksh.18 billion to Support Kenya’s Energy Sector
The World Bank has today approved Ksh.18 billion to support the energy sector in Kenya. The loan guarantee will be…
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News
Digital transformation of Service Economy can drive growth across Middle East and Africa says World Bank
Investment into digital transformation in the major Cities of the Middle East and North Africa region can unlock huge potential…
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News
Four African Economies among Most Improved in Removing Legal Barriers Against Women – World Bank
Despite daunting challenges, several economies in Sub-Saharan Africa are making progress in enacting laws that promote equality between men and…
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BUSINESS
World Bank Report: Changes in Technology and Trade Disrupting Manufacturing-Led Development
A new report by World Bank has revealed how advances in technology and changing trade patterns are affecting opportunities for…
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Startups
iHub, World Bank to host one-week bootcamp for startups from East Africa
As part of part of a business acceleration program to help East African tech start-ups commercialize and scale innovative digital…
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News
World Bank’s XL Africa Program to Support Africa’s Top Digital Entrepreneurs
The World Bank Group has launched a five-month acceleration program to support 20 most promising startups from Sub-Saharan Africa. Known…
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News
African business leaders to focus on scientific progress in partnership with the World Bank
Dr Álvaro Sobrinho, the prominent African businessman and Chairman of the Planet Earth Institute NGO , led the first meeting…
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Startups
World Bank launches crowdfunding support for Kenyan clean-tech startups
The World Bank’s Kenya Climate Innovation Centre (KCIC) has launched the first ever crowdfunding mentorship programme for entrepreneurs in East…
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News
Brand Finance Ranks Equity 5th Strongest Banking Brand in the World
Equity Group, East, and Central Africa’s largest financial services Group has been named the 5th strongest banking brand in the…
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BUSINESS
Maximize Your NCBA Bank Card Ahead of the Festivities
As we approach the holiday season, there are more and more ways to squeeze value out of your NCBA Bank…
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News
NCBA Bank: Banking on tech for improved customer service
Customer Service Week (CS Week) is an international event celebrated annually during the first full week in October. During this…
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News
I&M Bank Launches AI-Powered ‘Buy Now, Pay Later’ Service
I&M Bank has introduced an AI-powered Buy Now, Pay Later (BNPL) solution for its existing customers to enhance its unsecured…
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News
NCBA Bank turns to new tech for enhanced cybersecurity
The Central Bank of Kenya’s 2023 Banking Sector Innovation Survey revealed that cyber-risk is the most significant challenge for financial…
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News
I&M Bank and Mastercard launch Business Credit Card proposition
I&M Bank has partnered with Mastercard to launch the new Business Credit Card proposition, a comprehensive financial tool designed to…
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News
In a booming subscription economy, consumers are looking to their banks for help in managing their recurring payments
In today’s digital age, where convenience is paramount and subscription services are on the rise – expected to reach $406…
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BUSINESS
Investment bank predicts Africa’s remittance market will reach $500bn by 2025
Remittances comprise a significant portion of African Gross Domestic Product (GDP), with the total value of remittances across the continent…
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News
Anthony Hutia: Leveraging technology for a greener world
As the urgency to combat climate change escalates, technology companies are uniquely positioned to drive environmental sustainability. Samsung, a global…
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Startups
Electric vehicle dealer Spiro taps $50m debt facility at Afreximbank
Spiro, the African electric vehicle company has signed a US$50 million debt facility with the African Export-Import Bank (Afreximbank). This…
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BUSINESS
Mastercard, I&M Bank extend card collaboration
Mastercard and I&M Bank have extended their strategic collaboration with an 8-year strategic alliance. Under this alliance, I&M bank clients…
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BUSINESS
Receive money from anywhere across the world with Equity
In an era where global connectivity is paramount, Equity through its cutting-edge international money transfer solutions is committed to delivering…
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News
Absa Bank Goes Big on Digital Savings in Kenya
Absa Bank Digital Savings: The Covid-19 pandemic propelled the adoption of cashless payments for millions of people around the world…
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News
Unpacking Faulu Microfinance Bank Digital Solutions
Kenya’s banking sector has been evolving over the years, thanks to the emergence of technology, especially mobile phones that shifted…
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News
Seven Kenyan women-led startups receive Ksh. 9.8 million funding from Standard Chartered Bank
Standard Chartered Kenya on Wednesday awarded KES 1.4 million (USD 10,000) each to seven women startups that graduated from its…
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News
Absa Bank commits Ksh.100 billion to support MSMEs in Kenya
Absa Bank Kenya has announced a KES100 billion funding commitment to spur the development of Micro, Small and Medium Enterprises…
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News
Zambia’s fintech Lupiya raises $8.25m Series A round to grow its neo banking business
Zambian neobank, Lupiya has secured $8.25 million in Series A seed funding round to scale its business in its home market…
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News
Fintech startup Sendwave targets Kenyans in the US with new banking product
Fintech startup Sendwave has unveiled a new product that will allow users to earn interest and pay reduced fees on…
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News
Mobility financing startup Moove raises $8 million financing from Absa Bank
Moove, the mobility fintech startups has secured USD $8mn in financing from Absa Corporate and Investment Banking (CIB), bringing its total funding…
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News
[Tanzania] I&M Bank and Mastercard launch a suite of Debit and Multicurrency Prepaid Cards
I&M Bank Tanzania has partnered with Mastercard to launch a suite of Debit and Multicurrency Prepaid Cards. These cards will…
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BUSINESS
Vice Media Files for Bankruptcy After 29 Years
After 29 years, VICE Media LLC, a trendsetting media company, has filed for Chapter 11 bankruptcy, a process that is…
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News
Visa to pilot Pay with Your Face payment solution at FIFA World Cup in Qatar
Payments technology company Visa is piloting a Pay with Your Face payments solution at the FIFA World Cup Qatar 2022…
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CYBER SECURITY
Why is data security important in the world now more than ever?
Data breaches continue to plague businesses across the globe. The recent Equifax breach has left millions of Americans without their…
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BUSINESS
Face scan account opening a big hit with Bank of Kigali customers
Bank of Kigali (BK) says it has recorded increased uptake of its mobile banking services following the launch of new…
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News
Mastercard to bring crypto trading capabilities to banks
Mastercard has introduced a new program to enable financial institutions to bring secure crypto trading capabilities and services to their…
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News
Jeremy Awori Joins Pan-African lender Ecobank as new CEO
After nearly a decade at the helm of Absa Bank, CEO and Managing Director Jeremy Awori will be leaving the…
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Startups
Digital banking app for African immigrants Waya officially launched
Waya, a digital banking app that seeks to make it easier for African immigrants to send money back home is…
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BUSINESS
Equity Bank: Safeguarding Yourself and Your Bank Account
As the world continues to adopt digital banking be it on mobile or online, it is important that all of…
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News
4G Capital goes live on Mambu’s cloud banking platform
African Micro and small business-focused neobank 4G Capital has gone live on Mambu’s cloud banking platform 4G Capital says Mambu’s…
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News
Technology and innovation at the core of Equity Bank’s success
Africa is undergoing a season of rapid growth, characterized by innovative ideas that are crafting solutions to local problems. This…
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News
Tanzania’s fintech NALA enters Kenya, inks diaspora remittance deal with Equity Bank
Tanzania-based fintech startup NALA has partnered with Equity Bank Kenya for diaspora remittance. This partnership will allow Kenyans living in…
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News
National Bank of Kenya to Facilitate Financing for Kodris Africa Coding Program
The National Bank of Kenya (NBK) has partnered with Kodris Africa to provide a financing product for individuals and corporates…
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BUSINESS
Fintech Company WorldRemit Ranks Kenya Among its Top 3 Markets In Africa
WorldRemit, a global money transfer company with a presence in over 130 countries has placed Kenya among its top 3…
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Startups
This Nigerian fintech is simplifying banking for immigrants
Nigerian fintech startup Vesti is changing the way immigrants access banking services around the world. The company launched by two…
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BUSINESS
Airtel Tanzania and WorldRemit partner for international money transfers
Airtel Tanzania is partnering with payments company WorldRemit to enable Airtel Money customers in the country to send and receive…
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News
Equity Bank Announces Winners of its First Innovation Competition
The Equity Hackathon, an innovation competition backed by Equity Bank and Microsoft came to a close after weeks of intensive…
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News
I&M Bank and Mastercard roll out new credit and debit cards for corporate C-Suite professionals
I&M Bank Limited and Mastercard have rolled out several new world-class debit and credit cards targeted at corporate C-Suite professionals…
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BUSINESS
57 percent of Africans do not hold any kind of bank account, BPC report
57 per cent of Africans do not hold any kind of bank account, including mobile money accounts. This is according…
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News
Standard Chartered Bank opens applications for its 5th cohort of its Women in Tech program
Standard Chartered Bank has opened applications for the 5th cohort of its Women in Tech incubator program. The program, which…
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News
AUDA-NEPAD, JICA, Afreximbank and BCG partner to support 5 Kenyan healthcare startup
The African Union Development Agency (AUDA-NEPAD), Japan International Cooperation Agency (JICA), African Export–Import Bank (Afreximbank) and Boston Consulting Group (BCG)…
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BUSINESS
Equity Revamps its Online Banking Solutions to Drive Customer Convenience
Equity Bank has revamped its online banking offering, previously known as Eazzy Net, in line with the bank’s One Equity…
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News
SoftBank Leads a $200M Investment Round in Andela
Andela, the global network for remote engineering talent, has announced $200 million in Series E financing. The financing round which…
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BUSINESS
Equity Bank half-year profits hit Ksh.17.9bn
Equity Group has announced a 98% growth in half-year profits to Kshs.17.9 billion up from Kshs.9.1 billion the previous year.…
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News
Huawei Awarded Most Valued Technology Partner of the Year 2020 from DBS Bank
Huawei has been awarded the Most Valued Technology Partner of the Year 2020 from DBS Bank. Huawei team has been…
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BUSINESS
Equity Bank Registers 51% Balance Sheet Growth
Equity Bank has weathered the COVID-19 disruption to register a 51% growth in its balance sheet with total assets growing…
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BUSINESS
Faulu Bank to lend Ksh.3 billion to local SMEs
Faulu Microfinance Bank plans to lend up to Ksh.3 billion to local micro, small and medium enterprises (SMEs) to help…
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BUSINESS
Mastercard, Unilever and KCB Bank to provide a $150k recovery package to Kenyan MSMEs
To extend support towards COVID-19 economic recovery, Mastercard, Unilever and KCB Bank have pooled resources to provide Micro, small and…
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BUSINESS
Equity receives double recognition at the African Bankers Awards 2020
Equity has scooped two awards at this year’s African Banker Awards. The Bank has been awarded the Best Regional Bank…
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CYBER SECURITY
Cellulant Partners with Entersekt To Curb Digital Banking and Payment Fraud
Africa’s financial tech company Cellulant has partnered with Entersekt, a firm specializing in device identity and omnichannel authentication. The partnership…
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BUSINESS
Equity Bank’s Borrowed SME Funds jump to Ksh68.5 billion in Q3
Equity Bank’s borrowed funds for SME s jumped 19.7 per cent to Sh68.5 billion over the three months to September…
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BUSINESS
Prime Bank and SimbaPay partner for instant international money transfer
Kenya’s private bank Prime Bank has partnered with London-based fintech SimbaPay, to launch an instant international money transfer service via…
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BUSINESS
Fraud in the banking industry: What are banks doing about it?
Chances are you have at least received a call once or twice from people claiming to be representatives from your…
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Startups
Ecobank Fintech Challenge 2020 Winners Announced
Ecobank has announced the winners of its 2020 Ecobank Fintech Challenge. The winners were announced after an exciting virtual event…
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BUSINESS
Equity Bank Receives $50 Million Loan from IFC to support Kenyan SMEs affected by COVID-19
IFC has announced a $50 million loan to Equity Bank Kenya to support local SMEs especially those facing COVID-19 related…
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COLUMNS
[Column] Jack Ngare: Organisations need to think critically about digital skills for the new world order
More than ever before, the COVID-19 pandemic has accelerated the place of technology and elevated the need for employees to…
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BUSINESS
Open Banking opens up new opportunities for Banks in Africa
Open Banking is a global FinTech trend that is revolutionising the financial services landscape across the world by enabling banks…
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BUSINESS
Equity Group calls off plans to acquire Atlas Mara banking businesses
Equity Group has called off plans to acquire Atlas Mara (ATMA). The decision according to Equity is consistent with the…
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BUSINESS
Banking Sector urged to go digital to build resilience and sustainable growth post Covid-19
Bankers from Sub Saharan Africa and China who attended the Huawei Sub-Saharan Africa Financial Services Industry Online Summit 2020 agree…
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BUSINESS
Ecobank Named Most Innovative Bank in Africa
Global Finance has named Ecobank as the most innovative bank in Africa. The announcement was made at the eighth Global…
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News
Visa’s Fast Track Program Propels Growth of the Fintech Industry Worldwide
Visa today announced its continued support of the global Fintech community, having grown the Fast Track Program to over 140 Fintechs.…
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BUSINESS
Standard Chartered Bank launches mobile traded bond
Standard Chartered Bank Kenya has become the first commercial bank in Kenya to launch bond traded exclusively through mobile phone,…
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BUSINESS
Intra-African remittances to soar to record numbers in 2020, says WorldRemit
Online international money transfer company WorldRemit predicts that 2020 will be the year of intra-African remittances. The World Bank already…
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24BIt
24Bit Podcast Episode 18: Mobile Money and Mobile Banking Transaction Rates in Kenya
Do you use mobile money services? Okay, what kind of a question is that? Kenya is very synonymous with mobile…
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Startups
Bolt has raises €50M in venture debt from the European Investment Bank to expand its services
The European Investment Bank (EIB) has signed a €50 million venture debt facility with ride-hailing app Bolt. The funding will…
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Startups
Applications for Standard Chartered Bank’s Women In Tech Accelerator 3rd Cohort Open
Standard Chartered Bank Kenya has opened applications for its Women In Tech Incubator third cohort. The application which will close…
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News
We want to be a world-class leader in Microfinance lending in East and Central Africa – Ngao Credit
According to the World Bank, less than a quarter of adults in Sub-Saharan Africa have access to formal financial services.…
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BUSINESS
WorldRemit launches new product for SMEs payments to Kenya
Kenyan entrepreneurs and contractors selling goods and services to small and medium-sized enterprises (SMEs) in the U.K. can now receive…
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Startups
Fintech Startups can now apply and pitch at the Finnovation World Kenya Summit
The Finnovation World Kenya summit takes place in Nairobi on June 18. The event will bring together fitench players from…
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News
Facebook AI researchers create the world’s most detailed population density maps of Africa
Facebook is working closely with key non-profit and research partners to use artificial intelligence (AI) and big data to address…
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News
Dell is banking on Multi Cloud, AI, IoT to build digital solutions for Kenyan Enterprises
Dell Technologies is now banking on Multi-Cloud Technology, Artificial Intelligence and Internet of Things to provide enterprises with enhanced solutions…
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COLUMNS
[Column] Open banking to transform East Africa’s digital financial services
Open banking is revolutionising the financial services landscape across the world, and presents opportunities for transformation and financial inclusion throughout…
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News
WorldRemit has launched low-cost digital money transfers from South Africa
Digital money transfer service WorldRemit has launched its low-cost digital money transfer service from South Africa to over 145 destinations worldwide. Using…
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BUSINESS
Equity Bank unveils EazzyFX, its online forex trading platform
Equity Bank has unveiled an innovative online forex trading platform in a move that seeks to harness the potential of the financial markets…
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News
“Africa is the Silicon Valley of banking”, say co-founders of TagPay
The rise of fintechs might be shaking up the banking sector in developed countries, but African banks are taking full…
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Startups
Tanzania’s startup Nala wins 2018 Ecobank Fintech Challenge
Tanzanian startup Nala is the winner of this years’ Ecobank Fintech Challenge. Nala beat ten other finalists to emerge as the…
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BUSINESS
M-Pesa puts Safaricom on Fortune Magazine’s 2018 Change the World List of Companies
Safaricom has been recognized in Fortune Magazine’s 2018 Change the World List of Companies for its efforts in tackling society…
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BUSINESS
Safaricom, Kwesé iflix partner to bring World Cup streaming to smartphone users in Kenya
The FIFA World Cup 2018 start in six days. If you are football fanatic like me then you’re definitely looking…
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Blockchain
Finnovation South Africa 2018: How FinTech is Accelerating Digital Transformation of Banking in Africa
The unique environment for financial services in Africa is fertile ground for innovative FinTech players who are capitalising on the…
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Startups
Lagos based startup LifeBank closes $200 000 EchoVC-led round
Lagos based last mile medical supply startup LifeBank has closed $200 000 seed round, led by EchoVC Pan-Africa fund. Also…
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Startups
Submissions for Ecobank’s 2018 Fintech Challenge now open, targets African Startups
Ecobank has launched its 2018 Ecobank Fintech Challenge for African startups. Now in its second year, the initiative gives African…
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News
Industry Leaders Define How FinTech is Accelerating Positive Transformation of Banking in Africa
The FinTech space in Africa is witnessing rapid growth as innovative new financial services players disrupt the traditional modalities of…
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