CFAO Motors & Stanbic Kenya enter asset finance agreement
Stanbic Bank Kenya has entered into an asset finance agreement with CFAO Motors Kenya, allowing consumers who wish to purchase new motor vehicles to access full financing.
June 2023
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Money transfer app Chipper Cash launches in Rwanda
Chipper Cash, an African cross-border fintech startup, has enabled Rwandans to send money directly to mobile money and bank accounts in over 21 countries in Africa and the United States. This significant development was announced during the Inclusive Fintech Forum in Kigali, where Chipper Cash revealed its customer base of over five million across Africa….
Stanbic’s FlexiPay and TotalEnergies Partner to Ease Prepaid Customer Card Top-ups
Stanbic Bank and TotalEnergies have joined forces to offer an enhanced payment solution for individuals with TotalEnergies Cards in Uganda. Through the partnership, cardholders can now conveniently load credit to their cards using Stanbic Bank’s digital payment solution, FlexiPay. Previously, customers had to physically visit a TotalEnergies Service Station or a Stanbic Agent to reload…
Dfcu Bank’s Investment Club App bags Platinum Accolade at the Infosys Finacle Innovation Awards 2023.
Dfcu Bank’s Investment Club App has been recognized as the Platinum Winner in the Business Model Innovation category at the prestigious Infosys Finacle Innovation Awards 2023. The app stood out among over 200 nominations received from around the world
Unlicensed lending firms & individuals warned by the Central Bank of Tanzania
The Central Bank of Tanzania (BoT) has issued a stern warning to unlicensed financial institutions, companies, and individuals engaged in lending activities, emphasizing that strict measures will be taken against those who violate laws, regulations, and guidelines. In a statement released by the lender of last resort, it was highlighted that violators of financial regulations…
Standard Chartered Bank Unveils SC Shilingi Funds; A low-cost investment Option
Standard Chartered Bank Uganda has launched a groundbreaking product known as SC Shilingi Funds, revolutionizing the investment landscape for Ugandans. As the first financial institution to introduce such a product in the market, Standard Chartered Bank is paving the way for small-scale, flexible local currency investments. SC Shilingi Funds operate as a collective investment scheme,…
UDB Secures Funding of UGX 85 Billion, Vows to Expand Socio-Economic Intervention
Uganda Development Bank (UDB), the national development finance institution, has pledged to enhance its interventions with the allocation of UGX 85 billion from the 2023/24 national budget. This funding will specifically target medium and large enterprises. Currently, UDB’s capitalization from the government stands at UGX 1.22 trillion, and it is expected to increase further with…
Equity Bank launches Eazzy Stock Financing product for distributors, suppliers
Equity Bank Uganda has introduced a new loan product called Eazzy Stock Financing, specifically targeting distributors and suppliers. This digital lending product is collateral-free and designed to provide swift and convenient funds for Banking and Mobile Money Agents, Dealers, and Distributors to purchase floats as needed. The purpose of Eazzy Stock Financing, according to the…
Equity Bank Uganda introduces solution for business financing with the unveiling of Stock Financing
Equity Bank, a leading financial institution in Uganda renowned for its innovative and customer-focused approach has announced its latest credit product: Eazzy Stock Financing. Eazzy Stock is a digital credit offering designed to empower businesses by enabling them to unlock the value of their inventory and access essential capital for growth and expansion. This product…
Interswitch & Equity Bank Uganda enter partnership to Provide Affordable Services
Interswitch, the leading integrated payments and digital commerce company in Africa, has formed a strategic partnership with Equity Bank, one of East Africa’s top banking groups. The collaboration aims to offer faster and more affordable banking services to Equity Bank’s customers at over 650 Interswitch-enabled ATMs belonging to 17 local banks in Uganda. This partnership…