Mastercard and the African Development Bank Group have launched the Mobilising Access to the Digital Economy (MADE) Alliance: Africa, an ambitious initiative aimed at providing digital access to 100 million people and businesses across Africa within the next decade.
I&M Group has reported an impressive 30.9% surge in net profit, reaching Sh3.32 billion for the first quarter ended March 2024. This significant growth is attributed to a notable increase in net interest income, primarily driven by lending activities.
Stanbic Bank has upgraded its core banking system to the latest version of Temenos 24, enhancing service delivery and efficiency for its customers.
NCBA Group has reported a robust start to the year with a profit after tax of Sh5.3 billion in the first quarter of 2024, marking a significant increase from Sh5.1 billion in the same period last year. The growth was driven by improved operating income and a nearly 40 percent drop in credit loss provisions.
KCB Group has reclaimed its position as East Africa’s most profitable bank with an impressive 69% growth in net earnings for Q1 2024, reaching Sh16.5 billion. The bank’s robust performance underscores its resilience and strategic growth initiatives.
Visa has announced the startups shortlisted from across Africa to participate in the second cohort of its Africa Fintech Accelerator program. This 12-week program offers 1:1 mentorship and personalized training, providing seed to Series A startups with exclusive opportunities to access funding, development, and resources. The program reflects Visa’s commitment to fostering innovation and supporting the digital economy across the continent.
KCB Group is leading the way in sustainable banking by adopting solar energy solutions in its branches. The bank has successfully installed solar panels in two branches as a pilot project and plans to extend this initiative to 19 more branches by the end of 2025.
Dr. William Ruto, Kenya’s President, and World Bank Group President Ajay Banga advocate passionately for IDA21, emphasizing its transformative potential.
