NCBA Bank has officially opened a new branch in Kitui, marking a significant milestone in the bank’s commitment to improving banking access and promoting financial inclusion across Kenya. Located at the Chief Kitonga Building in Kitui town, the new branch strengthens NCBA’s strategic focus on expanding its footprint in more regions and providing residents with greater convenience in accessing banking services.
Toni Campbell, a managing partner at Kinfolk Venture Capital, has been appointed as the interim CEO. This transition marks a significant change in leadership for the company.
Thunes, a leader in cross-border payment infrastructure, has launched an innovative QR Code Payments solution specifically designed to facilitate seamless transactions for foreign travelers in China. This new service enables users of various foreign mobile wallets and financial apps to make payments by simply scanning QR codes presented by local merchants. By bridging the gap between international payment systems and local Chinese payment methods, Thunes is enhancing the payment experience for travelers.
Banking technology provider Tuum has announced a strategic partnership with Google Cloud Security to enhance digital banking capabilities across the EMEA region. This collaboration aims to optimize scalability, security, and performance of digital banking services while significantly reducing operational costs for financial institutions. By leveraging Google’s advanced cloud technologies, Tuum is positioning itself to meet the growing demands of the banking and fintech sectors.
Three Kenyan fintech startups have made impressive strides by advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech, each receiving $100,000 in funding. The startups—AZA Finance, Chumz, and Paycloud—are notable players in the fintech ecosystem, offering innovative solutions to address key challenges in financial services. AZA Finance focuses on providing businesses with low-cost, efficient services such as payments, currency exchange, and treasury management across major currencies. Chumz employs behavioral psychology in its gamified savings platform, helping individuals save at low costs. Meanwhile, Paycloud tackles the issue of late payments in Africa with seamless payment processing, automated invoicing, and financial tools designed to enhance the user experience.
NCBA Bank continues to advance its sustainability agenda with the launch of a new Solar Photovoltaic (PV) campaign, aimed at helping local businesses reduce carbon footprints and manage rising energy costs. Announced on Tuesday, this campaign underscores NCBA’s commitment to supporting businesses through innovative financial solutions that promote clean energy adoption and long-term sustainability
Standard Chartered Bank is expanding its suite of foreign currency investment options, offering Kenyan investors more ways to access global markets. With the introduction of new products such as USD Money Market Funds, USD Corporate Bonds, USD Government Bonds, and Signature CIO Funds, the bank is catering to the growing demand for international investment opportunities.
Yellow Card, the first licensed stablecoin on/off ramp in Africa, has successfully closed its Series C financing, securing US $33 million in equity funding. The financing round was led by Blockchain Capital, with significant contributions from several prominent investors, including Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital. This milestone not only underscores the company’s growth trajectory but also highlights the expanding potential of the African fintech industry as a whole.
