In a resounding celebration of education and opportunity, Diamond Trust Bank(DTB) has announced the commencement of it’s third cohort, consisting of 100 ambitious students from diverse universities, into the much-anticipated DTB Job Shadowing programme. The initiative marks a pivotal step forward in bridging the gap between academic knowledge and real-world application. DTB Job Shadowing programme…
In a significant move set to transform the landscape of mobile financial services, the Central Bank of Kenya has granted Safaricom’s request to elevate the M-PESA account limit to KSh. 500,000. This transformative adjustment is poised to take effect on August 15, 2023, and will be applicable to all M-PESA customers across Kenya. Alongside the…
The dream of owning a home is a milestone that holds a special place in many people’s hearts. As individuals work towards turning this dream into reality, the question of whether to opt for a mortgage or a loan becomes a crucial decision. Both options offer pathways to home ownership, each with its own set…
Airtel Africa and Mastercard have jointly announced the introduction of an advanced cross-border remittance service, allowing Airtel subscribers across 14 African markets to send and receive money seamlessly. This groundbreaking service will be implemented in a phased manner, offering users a streamlined digital experience that bridges them to a global network. Remittances play a significant…
Uber and Safaricom have entered into a partnership that will enable Payments for Unbanked Riders through M-Pesa. Through this new partnership, UberEats delivery drivers will also receive their payments via the mobile money platform, and customers will have the option to use M-Pesa for their payments. This collaboration aims to address the needs of approximately…
Mastercard and Lipa Later Group have joined forces to expand the Buy Now, Pay Later (BNPL) solution across the African continent. Through this strategic partnership, the two companies aim to provide flexible financing options to empower individuals and businesses, promote financial inclusion, and drive sustainable economic growth in Africa. Mastercard’s extensive network of merchants and…
Uganda Development Bank (UDB), the country’s national development finance institution, has achieved an exceptional National Long-term Rating of ‘AAA (uga)’ with a Stable Outlook, the highest rating on Uganda’s national scale. This prestigious rating was assigned by Fitch Ratings, a globally renowned international credit rating agency. Additionally, the Bank received a Long-Term Issuer Default Rating…
Depositors of the collapsed Imperial Bank Ltd (IBL) are facing further delays in receiving their payments as a Mombasa tycoon, Mr. Ashok Doshi, has obtained court orders blocking any payments pending the resolution of his petition. The High Court suspended the payments last week, following a challenge by the Kenya Deposit Insurance Corporation (KDIC), accusing…
The rise of financial technology (fintech) companies has disrupted the traditional banking landscape, challenging traditional banks to adapt and innovate to remain competitive. Fintechs offer customer-centric, technology-driven solutions that cater to the evolving needs and preferences of today’s consumers. To compete effectively, banks must embrace digital transformation, prioritize customer experience, and forge strategic partnerships. Let’s…
Bancassurance, the distribution of insurance products through banks, has been a growing trend in the financial services industry for several years. This strategic alliance between banks and insurance companies has its proponents and critics, each with their views on whether it brings more benefits or drawbacks to the insurance sector. Let’s delve into the world…
