Browsing: Banking Africa

linking cryptocurrency to traditional finance

Are Online Credit Lenders Really Protecting Vulnerable South African Customers?

Banking

However, integrating cryptocurrencies with conventional financial systems becomes increasingly essential as they become more commonplace. This presents several obstacles to overcome before cryptocurrencies can realise their full potential. For instance, traditional institutions may be hesitant to work with cryptocurrencies due to concerns about money laundering and other illicit activities. Moreover, the technical difficulty of integrating cryptocurrencies with existing banking systems can prove intimidating.…

CBZ Holdings Zimbabwe's Universal Banking champion

Universal Banking group CBZ Holdings leads the pack

Investing

Successful turnaround strategies are not new to Zimbabwe's largest universal banking concern.

CBZ has gone the distance from being characterized as a bank for crooks to the largest banking concern in the country. The majority of banks in the southern African country adopt the universal banking model instead of the niche or boutique bank model which was once ubiquitous globally.

The universal banking model's roots can be traced to the promulgation of the Glass Steagall Act on the 1930s which combined the activities of commercial banks and investments banks. Banking houses that adopt this universal banking model aim to be a one-stop financial services shop offering everything from consumer and corporate credit to insurance and investment products.

The trend in Zimbabwe has grown in popularity as a method of meeting regulatory compliance and attaining critical mass. Other banks in Zimbabwe following the universal banking model in Zimbabwe include FBC Holdings…

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KCB eyes DRC and Ethiopia for regional expansion

KCB eyes DRC and Ethiopia for regional expansion

Banking

Kenya Commercial Bank (KCB ) plans to venture into Ethiopia and the Democratic Republic of Congo (DRC) as it seeks to grow its regional footprint.

The bank is looking at additional markets for expansion while it awaits a licence to operate in Ethiopia, where it already has a representative office that was opened in 2015.

“We are talking about two markets in trying to scale up our businesses so the market we are looking at is Congo and Ethiopia because they are very much aligned to our business,” said Joshua Oigara chief executive.

“For us, there is a chance to really grow our business to reach the psychological height of Sh1 trillion of balance sheet size which is a strong size,” he added

Mr Oigara did not provide a timeline for when the bank will enter DRC. The bank also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan. (…