Category: Banking & Fintech

Peach Payments has announced a strategic collaboration with Sukhiba, a Kenya-based CRM platform, to revolutionize WhatsApp-based sales for South African merchants. This partnership will enable merchants to leverage Sukhiba’s innovative technology to integrate their catalogues into WhatsApp, allowing for seamless sales, payments, and delivery scheduling all within the messaging platform. By utilizing WhatsApp, the most popular social media platform in South Africa, merchants will have the opportunity to engage customers more effectively.

Marion Gathoga-Mwangi has been appointed as an Independent Non-Executive Director at Absa Bank Kenya, following her recent elevation to CEO of Standard Group. This dual appointment underscores her growing influence in the corporate landscape and reflects the high regard in which she is held by her peers. Absa Bank Kenya’s chairman, Charles Muchene, emphasized Gathoga-Mwangi’s distinguished career and the wealth of insights she brings to the board, marking a significant addition to Absa’s strategic direction.

Standard Chartered Bank Uganda and Prudential Uganda have embarked on a strategic partnership to drive financial inclusion through bancassurance. This collaboration aims to expand access to financial services and offer customers long-term financial security solutions, marking a significant step in Uganda’s rapidly growing bancassurance sector.

Emerging market fintech M-KOPA has proudly announced that it has surpassed 5 million customers across Ghana, Kenya, Nigeria, South Africa, and Uganda. This milestone reflects a significant growth trajectory, with two million customers onboarded in just the past 15 months. The fintech has provided over $1.5 billion (Sh192 billion) in financing, as highlighted in its 2024 annual impact report, showcasing M-KOPA’s commitment to fostering digital and financial inclusion across Africa.

Mrs. Peace Uwase has been appointed to the Board of Directors at Ecobank Rwanda, bringing a wealth of experience in finance and economic policy. With a distinguished career at the National Bank of Rwanda, where she serves as Director General of the Financial Stability Department, she is expected to contribute her strategic expertise to Ecobank’s leadership. Her appointment reflects the bank’s commitment to strengthening its governance and fostering sustainable growth.

Co-operative Bank of Kenya has significantly enhanced its digital banking services by raising the daily limit for money transfers via its MCoopCash app to Sh2 million. This increase, which is four times the previous limit of Sh500,000, aims to provide customers with greater convenience amid a growing preference for digital transactions. The new policy allows users to transfer up to Sh1 million in a single transaction, facilitating seamless transfers between accounts.