Banking & Fintech – Page 18 – Hakuna Matata Media

Flutterwave Expands Footprint with Uganda License

2 years ago2 years ago03 mins

Flutterwave, a leading global pay-tech company, has made a significant leap by expanding its operations into Uganda. The Bank of Uganda has granted Flutterwave a Payments System Operator (PSO) license, marking a major milestone in the firm’s mission to enhance financial inclusion across Africa. This expansion brings Flutterwave’s reach to 29 African countries, further solidifying its position as a key player in the continent’s digital payments landscape.

MTN Appoints 4 Directors to its Fintech, Bayobab Boards

2 years ago2 years ago03 mins

MTN Group has announced the appointment of four non-executive directors to enhance its MTN Group Fintech and Bayobab businesses. Herman Bosman has been named independent chairman of MTN Group Fintech, bringing his extensive experience from his tenure as CEO of Rand Merchant Investment Holdings and RMB Holdings. Bosman’s role will begin on July 1, 2024, and he is expected to leverage his deep understanding of the financial services industry to advance MTN’s fintech strategy.

Banking & Fintech

Family Bank’s H1 Profit Rises 15.4% to Sh2.32B

2 years ago2 years ago02 mins

Family Bank has reported a 15.4 percent increase in profit before tax, reaching Sh2.32 billion for the first six months of 2024. This growth is attributed to a rise in interest income, demonstrating the bank’s strong performance amid challenging economic conditions.

DTB’s H1 Net Profit Increases 12% to Sh4.9B

2 years ago2 years ago03 mins

Diamond Trust Bank (DTB) has reported a notable 12 percent increase in net profit, reaching Sh4.9 billion for the half year ended June 2024. This growth marks a significant achievement for the bank, reflecting its robust performance and strategic expansion.

Absa Bank Kenya’s H1 Net Profit Rises 29% to Sh10.7B

2 years ago2 years ago03 mins

Absa Bank has announced a significant 29 percent increase in profit after tax, reaching Sh10.7 billion for the first half of 2024. This growth reflects the bank’s successful strategy in boosting revenue across its various business segments and meeting the increasing demand for soft loans, despite a challenging economic environment characterized by reduced consumer spending.

NCBA Launches New Branches in Limuru and Githunguri

2 years ago2 years ago03 mins

NCBA Bank has recently expanded its footprint with the grand openings of new branches in Limuru and Githunguri, marking a significant milestone in its growth strategy. These new locations are set to enhance financial accessibility for local communities, offering tailored financial solutions to support various needs.

Access Bank Nearing 100% Acquisition of National Bank of Kenya

2 years ago2 years ago03 mins

Access Bank Plc is on the brink of a significant expansion in East Africa as it nears the acquisition of National Bank of Kenya (NBK). The Nigerian banking giant has entered the final stages of this strategic move, pending approvals from the Central Bank of Kenya and the Competitions Authority of Kenya. This acquisition is a key part of Access Bank’s five-year plan to enhance its presence in Kenya and solidify its role in the East African trade corridors.

New Platform Enables Kenyans to Pay Chinese Suppliers via Alipay

2 years ago2 years ago03 mins

A new cross-border payment platform focused on the Afro-Asian corridor is preparing to launch in Kenya, promising significant changes for local traders. Pyxis, a financial technology company, is finalizing a deal that will allow Kenyan traders to pay for Chinese goods through Alipay, the payment system affiliated with Alibaba. This advancement aims to simplify transactions by eliminating the need for dollar conversions, potentially boosting the use of the Chinese yuan in international trade.