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Browsing: Banks
Enhancing financial literacy is only one of the numerous ways Africa’s youth may be prepared for the future. Stakeholders must simplify financial literacy education and make it practical. Without simplified and functional financial literacy, one could fall victim to the prevailing financial challenges in a highly changing world marked by technological advancements. Improving financial literacy in Africa’s youth will help improve financial inclusion.…
- There has been a decline in bank visits across Kenya, with customers opting to deposit cash via mobile money platforms and transfer bank deposits to their mobile money wallets
- In the latest Kenya Banking Sentiment Index, Deloitte reveals that this has posed a challenge to banks, which have made significant investments in their brick-and-mortar businesses
- Deloitte recommends banks to consider leveraging innovations in technology such as cloud platforms, analytical capabilities and augmented intelligence which can generate levels of customer engagement
A new report has revealed that there has been a decline in bank visits across Kenya, with customers opting to deposit cash via mobile money platforms and transfer bank deposits to their mobile money wallets.
In the latest Kenya Banking Sentiment Index, Deloitte reveals that this has posed a challenge to banks, which have made significant investments in their brick-and-mortar businesses.
Has the rise of mobile transactions in Kenya affected …
Visa, for its part, has lodged an application seeking to dismiss the charges. In its defence, the payments platform company said that the people who posted the victims’ underage images and those who distributed and earned money from the material caused the alleged harm and not Visa, the Washington Post reports.
The company went on to argue that it had nothing to do with the operations of the websites run by Mind Geek which include adult entertainment websites where child sexual abuse videos have been featured. Since the news of child sexual abuse broke and the landmark ruling delivered by the California court, Visa has been at pains to distance itself from the lawsuit of which it is now a defendant. The company made a statement to the Washington Post where it condemned sex trafficking, exploitation, and child sexual abuse materials as “repugnant” to its values and purpose as a …
Yet for SME and corporate lending, credit decisions remain an extended process as information is gathered manually and appraised over, sometimes, weeks, to establish the creditworthiness of the borrower.
The need to abandon such cumbersome processes has recently seen leading banks adopt technology, such as our CreditQuest, to automate credit origination, and manage credit workflow, appraisals, documents, customer ratings and credit decisions.
This kind of technology draws all current and historical credit data onto a unified platform, giving the bank’s analysts a true single customer view of credits and collaterals.…
NMB is also listed on the Dar es Salaam Stock Exchange (DSE) and has been tracking rather promising records. According to DSE daily market highlights, NMB’s closing price stood at TShs. 2,340 and the previous closing price was TShs. 2,340.
The bank’s largest shareholders are strategic partners Arise B.V with a 34.9 per cent shareholding and the government of Tanzania with a 31.8 per cent shareholding.
According to NMB, alongside its financial achievement, “the Bank has also received several awards, highlighting the growth trajectory of the institution. In 2020, NMB’s achievements led to internationally acclaimed recognition as the Safest Bank in Tanzania by Global Finance magazine, and being named Best Bank in Tanzania for 8th consecutive time by Euromoney magazine,”…
NAIROBI, Kenya, Jun14 – The African Development Bank (AfDB) has unveiled a US$463.9 million 5.5-year Kangaroo bond.
In a statement, AfDB says the transaction, which marks its return to the Australian dollar bond market, was led by Nomura and RBC Capital Markets.
The fixed income instrument, which is a foreign bond issued in the Australian market by non-Australian firms and is denominated in Australian currency, is the institution’s first benchmark Kangaroo since early 2018 and its first in the mid-curve since 2015.
It is also the largest AUD trade ever issued by the Bank.
More than 30 investors participated in the deal, with a total order book of more than A$775 million, leading to an upsize of the trade from the announced size of A$250-300 million to the final size of A$600 million.
These included a strong cohort of Australian investors, while fund managers were the major investor type.
African …