ala, a leading global fintech company, has announced ambitious plans to target the $10 trillion global fintech market, focusing on the “global majority population” which represents 52% of the world’s population. This strategic move was unveiled by Jori Pearsall, Global Chief Business Officer at Tala, during the company’s 10th-anniversary celebrations at Radisson Blu Hotel, Upper Hill.
During the 62nd Annual General Meeting of the Kenya Bankers Association (KBA), held recently, Credit Bank’s CEO, Betty Korir, was appointed as the Vice Chair of the industry’s apex governing body. Her appointment marks a significant milestone, as she becomes only the third female vice chair in the association’s history, underscoring the sector’s commitment to promoting gender inclusivity in leadership.
Visa has launched an exciting campaign offering three lucky NCBA Visa cardholders and their companions an unforgettable experience at this year’s Olympic Games in Paris. This “spend and win” initiative not only promises a fully paid trip valued at over Kes. 400,000 per winner but also presents a chance for cardholders to win NCBA Visa branded merchandise by simply using their cards for purchases.
First Bank of Nigeria Limited has made significant leadership changes with the appointment of Olusegun Alebiosu as the new Managing Director and Chief Executive Officer. This decision, announced via a statement to the Nigerian Exchange Limited, underscores the bank’s commitment to strategic leadership amidst a period of transition.
Kenyans living and working abroad have sent home a staggering $2 billion (Sh258.9 billion) in the first five months of 2024, marking an 18.9% increase from the same period last year. The Central Bank of Kenya (CBK) attributes this surge to easing inflationary pressures in developed economies, underscoring the vital role of diaspora remittances in the country’s economy.
The Council of Ministers in Ethiopia has approved two crucial draft proclamations as part of the National Bank of Ethiopia’s (NBE) economic reform agenda. Under the new Banking Business Proclamation, foreign banks can now invest in the Ethiopian banking sector by opening subsidiaries, branches, or investing in existing domestic banks. This move is set to enhance competition, improve service delivery, and stimulate economic growth in the country.
Access Bank has expanded its footprint in East Africa with the acquisition of Tanzania’s African Banking Corporation (BancABC Tanzania), a move aimed at bolstering its regional presence and enhancing customer offerings.
Kenya Re has announced a robust financial performance for the year 2023, with gross profit surging by 53% to Sh7.03 billion compared to the previous year, showcasing strong growth buoyed by prudent underwriting and business diversification efforts.
