Tanzania Launches Bank to Boost Agriculture
Tanzania has officially launched the Tanzania Cooperative Bank (TCB), a financial institution aimed at addressing the country’s long-standing gaps in agricultural financing. TCB, with an...
ABSA Kenya CEO Abdi Mohamed’s Salary Hits Sh109 Million After 39% Pay Rise
Absa Bank Kenya Chief Executive Officer Abdi Mohamed received a 39.7 percent salary increase in the year ended December 2024, bringing his total compensation to...
Could Ethiopia’s Banking Upgrade Set a New Standard for Africa?
The National Bank of Ethiopia (NBE) has rolled out an upgraded version of its Ethiopian Automated Transfer System (EATS), now running on the ISO 20022...
NCBA Bank Cuts Lending Rate by 1%
NCBA Bank has lowered its base lending rate by one percentage point, trimming it from 15.34% to 14.34% per annum, effective immediately for new loans....
CBN Warns Banks and Fintechs: Strengthen Sanctions Compliance or Face Penalties
The Central Bank of Nigeria (CBN) has issued a firm warning to banks, payment service providers, and fintech companies, urging them to strengthen their sanctions...
CBK Lifts 10-Year Moratorium on Licensing New Commercial Banks
After nearly a decade-long freeze, the Central Bank of Kenya (CBK) has announced it will start issuing licenses to new commercial banks from July 1,...
J.P. Morgan Expands Blockchain Banking with GBP Launch
J.P. Morgan has expanded its blockchain-based payment system, Kinexys Digital Payments, to include British pound sterling (GBP), opening the door for faster, automated, and round-the-clock...
Access Bank Completes Acquisition of National Bank Of Kenya From KCB Group
Access Bank PLC has officially completed the acquisition of National Bank of Kenya (NBK) from KCB Group PLC. The deal, which saw Access Bank take...
Absa Bank Launches Absa Mzawa Account for Tanzanians Living in the Diaspora
Absa Bank Tanzania has officially unveiled the Absa Mzawa Account, a new banking solution designed specifically for Tanzanians living abroad. The product aims to strengthen...
NCBA Fined Sh 250,000 by ODPC for Mishandling Customer Email and Data Breach
Kenya’s Office of the Data Protection Commissioner (ODPC) has imposed a fine of Sh 250,000 on NCBA Bank over a data privacy breach involving the...