Equity Bank News

PesaLink - Kenyan banks have joined forces to launch a mobile money rival to M-PESA

Kenyan banks have joined forces to launch a mobile money rival to M-PESA

Nearly ten years after its launch, M-Pesa finally has what could be a major competitor in the multi-billion dollar mobile money transactions business.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Kenyan banks want a bigger share of the mobile money action. Credit: qz.com/Reuters/Thomas Mukoya

Kenyan banks are closing in on what they think will be the perfect M-PESA disruptor (Infographic)

Early next year, Kenyan banks are expected to unveil a digital and mobile money transfer platform to rival M-Pesa’s longstanding dominance as the scramble for cashless payments intensifies.

Nairobi, Kenya. Credit: investinginafrica.net/Ninara

Kenya's top three dividend stocks

Dividend stocks can provide a great foundation for an investment portfolio.

James Mwangi, CEO, Equity Bank (L); James Mworia, CEO, Centum Investment Group; Bob Collymore, CEO, Safaricom

Centum's James Mworia beats Mwangi, Collymore as Kenya's best paid CEO

James Mworia, Centum Investment Group’s Chief Executive, is corporate Kenya’s best paid CEO with an annual compensation of Sh201.1 million (Approximately $2 million).

Deepak Malik, Africa Regional Director, Norfund

Norway-Backed Fund on Hiring Spree in Africa Finance Venture

A new development-finance venture that will control banking and other assets worth more than $660 million across sub-Saharan Africa plans to hire as many as 20 people including analysts to manage its investments and help it spend another $300 million on acquisitions.

Why African Entrepreneurship Is Booming

Why African Entrepreneurship Is Booming: Ndubuisi Ekekwe, Founder, African Institution of Technology

Last month, I visited my village of Ovim in Southeastern Nigeria. I met a painter who also manufactures the paint he uses for his work.

Shiv Arora, Head of Private Equity Real Estate, Cytonn Investments

Local banks knock off foreign dominance in Kenyan market: Shiv Arora, Head of Private Equity Real Estate, Cytonn Investments

Kenyan banks have knocked off foreign dominance in the market posing a risk for the latter to exit the market if they fail to change their strategy.

African M&A deal volume at a seven year high, says Mergermarket

African M&A deal volume at a seven year high, says Mergermarket

A steady increase in African deal flow and interest from overseas investors since the financial crisis points to the increasing maturity of African countries as a destination for M&A.

Now is the time to buy Sub-Saharan African stocks

Now is the time to buy Sub-Saharan African stocks

With the exception of South Africa, public equities in sub-Saharan Africa are generally cheap.

A man walks past the Orange shop on Koinange Street in Nairobi. Credit: businessdailyafrica.com

Private equity firm Helios launches bid for France Telecom stake in Telkom Kenya (Orange Kenya)

Helios Investment Partners is the latest suitor said to be gunning for some or all of the 70 per cent stake in Telkom Kenya owned by France Telecom.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank to focus on developing mobile banking business

Kenya’s Equity Bank aims to double profits from its foreign markets in east Africa and increase users of its mobile banking service to boost earnings, its chief executive said on Tuesday.

Change of pace: growing numbers of young Africans have flourishing businesses — Bloomberg/FT

New generation of African entrepreneurs lead the way

As ever-increasing numbers of cars clog the streets of African cities, trade flourishes along congested highways.

Safaricom's M-PESA

The battle between Africa's mobile phone companies and banks is a boon for financial inclusion

Another week and another bank in Africa is entering the mobile money space.

Change of pace: growing numbers of young Africans have flourishing businesses — Bloomberg/FT

African Entrepreneurs - A new generation leads the way: Financial Times (Report)

Start-ups are thriving and helping to change perceptions of business in Africa. As ever-increasing numbers of cars clog the streets of African cities, trade flourishes along congested highways.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank starts mobile money service Equitel to challenge Safaricom

Kenya’s Equity Bank said it would press ahead with offering mobile phone transfer services, stepping up competition to telecoms firm Safaricom’s money transfer product.

Mobile connectivity and technology in Africa: Ahead of the global game.

Mobile connectivity and technology in Africa: Ahead of the global game?

Mobile internet adoption in Africa is taking place at almost double the global rate, a trend that has sparked debate among development and tech enthusiasts as to whether this marks a radical shift in the way the internet of the future will be used and accessed.

A customer conducts a mobile money transfer via M-PESA inside the Safaricom mobile phone care center in the central business district of Kenya's capital, Nairobi. REUTERS/Thomas Mukoya

Kenya's KCB signs up 1.8 million mobile banking customers in 3 months

Kenya’s biggest bank by assets, KCB, has signed up 1.8 million customers for its mobile phone-based service since it was launched in March and is on target for 10 million users within a year from now, its chief financial officer said.

Equity Bank

Equity Bank's Equitel mobile money service targets 100 million African customers in 10 years

Equity Bank Ltd., which has started a new mobile payment and banking service called Equitel, is seeking 100 million customers in Africa within 10 years and the first five million by the end of 2015.

Kenya's Equity Bank wins court battle to deploy thin SIM technology.

Kenya's Equity Bank wins court battle to deploy thin SIM technology

Equity Bank plans to roll out its thin SIM technology in Kenya after the High Court dismissed a suit on 29 May. In 2014, the Communications Authority (CA) allowed Equity Bank to implement the new technology on a one-year trial basis, through its Finserve Africa subsidiary.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank to expand to the DRC via acquisition in first step outside East Africa

Kenya’s Equity Bank Group plans to expand its operations into the Democratic Republic of Congo by acquiring a 79 percent stake in ProCredit Bank Congo, its chief executive officer said on Tuesday.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank plans 10-nation Africa expansion, says CEO James Mwangi

Kenya’s Equity Bank plans to enter 10 more African countries in the next decade, in addition to the five it already serves, by building operations from scratch or acquiring existing lenders, its chief executive said on Wednesday.

New MBAs Should Start Their Careers in Frontier Markets

New MBAs should start their careers in frontier markets like Nigeria, Kenya, says Harvard Business Review

“Where are the stores?” asked the Scandinavian executive. Strive Masiyiwa was interviewing him to be CEO of the Nigeria telecoms venture lead by Econet Group, which Strive founded and chairs.

Rwanda Stock Exchange (RSE)

Rwanda Stock Exchange wins prize cross-listing of Kenya's Equity Bank

It might be one of the world’s tiniest stock markets, with only six listed companies, but a seventh addition has just doubled the value of the Rwanda Stock Exchange.

M-PESA

Fact of the Day: Mobile money service M-PESA is Kenya's top brand

Mobile money payment service M-PESA has been voted as Kenya’s leading brand in the Top 20 super brands in Kenya survey.

Tope Lawani, Co-Founder & Partner, Helios

Private equity firm Helios to sell half its stake in Kenya's Equity Bank

Africa focused investment firm Helios will sell half its stake in Kenyan lender Equity Bank, or 12.22 percent of the bank’s shares, to Norway’s Norfininvest AS, the lender said on Friday.

Thin SIM card can be overlaid on existing SIM card

Kenya court blocks Equity Bank's thin SIM technology rollout

The Kenyan High Court has suspended the decision of the Communications Authority of Kenya (CA) to allow Finserve Africa, a subsidiary of Equity Bank, to roll out the ‘thin Sim’ technology, following an urgent application by Kituo Cha Sheria.

Mobile money use in Africa

Mobile money in Africa: The next generation

Africa has forged a reputation as a global leader in mobile financial services.

Andrew Stewart (Left), American Express Vice President and General Manager for Turkey, Middle East, and Africa and James Mwangi (Right), Equity Bank CEO during the launch of American Express cards in Nairobi Oct 15, 2014.

Equity Bank and American Express launch American Express cards in Kenya

Equity Bank and American Express have launched the first American Express Cards in Kenya, offering Kenyan consumers the Equity Bank American Express® Green Card and the Equity Bank American Express® Gold – both of which carry rich rewards and benefits.

Could M-Pesa, that has dominated the mobile money market in Kenya, be in for stiff competition? Photograph: Bloomberg

Watch out M-Pesa, Equity Bank wants to transform mobile money in Kenya

Kenya is a regional leader in access and use of financial services, with 77% of the population living within 5km of a commercial bank or mobile money agent, according to a recent report published by Kenya Financial Sector Deepening.

KopoKopo

Mobile Money Is Driving Africa's Cashless Future

The evolution of African markets faces significant barriers: cost, distance, and a lack of infrastructure. Less than 30% of the population have bank accounts, and even fewer have credit cards.

Thin SIM

Kenya regulator approves use of thin SIMs by new Mobile Virtual Networks Operators (MVNOs), including Equity Bank

The use of thin SIM technology has been approved in Kenya paving way for new Mobile Virtual Networks Operators (MVNOs) to use them for new services among them mobile money transfer.

Slim SIMs Illustration

Disrupting mobile banking in Kenya: Slim SIMs

EQUITY Bank, whose micro-loans offerings have helped increase the number of Kenyans using formal financial services, is looking to break into Kenya’s booming mobile telecoms market.

US-Africa Business Forum - Africa is Building a Better Business Landscape

US-Africa Business Forum: Africa is Building a Better Business Landscape (Video)

Data + Transparency = Market Confidence

James Mwangi, CEO, Equity Bank

US-Africa Business Forum: An interview with James Mwangi, CEO of Equity Bank, and Tom Klein, President & CEO of Sabre (Video)

James Mwangi, President and CEO of Equity Bank Group in Kenya, and Tom Klein, President and CEO of Sabre, discuss how Africa’s young population – average age 25 – is enabling faster adaptation and adoption of new technologies.

A customer transfers cash to his mobile phone in Kenya's capital Nairobi

Mobile Money: The Battle for Africa

As enthusiasm for mobile-phone-based payments grows in Africa, operators are rushing to get a piece of potentially lucrative and ever-expanding markets and to challenge more popular and established mobile-payment services, such as Kenya’s M-Pesa.

Equity Bank

Banks Vie for a Piece of Africa's Mobile Banking Market

George Kabiria, who makes decorative sculptures for this city’s lush garden homes, recently sold a small iron frog to a customer through M-Pesa, Kenya’s most popular mobile-payments service.

Malvina Goldfeld, Head, Business Development, Sub-Saharan Africa, PayPal

Taking Nigerians cashless: Q&A with PayPal's Head of Business Development in Sub-Saharan Africa, Malvina Goldfeld

Nigeria’s 170-million plus population has an estimated 60-million internet users, making it the largest potential market for PayPal of all the countries it has entered in recent months.

Stephen Olabisi Onasanya, managing director of First Bank of Nigeria, and Efi Dahan, PayPal's regional director of Israel and Africa shake hands at the announcement of a partnership between First Bank and PayPal.

First Bank confirmed as PayPal's official partner in Nigeria

Nigeria’s oldest commercial bank, First Bank Nigeria, has been announced the official partner of PayPal in Nigeria.

Boston Consulting Group (BCG)

Six African companies giving international competitors a run for their money: Boston Consulting Group (BCG)

Six local African companies (Discovery Health, Douja Promotion Groupe Addoha, Equity Bank, Guaranty Trust Bank, and Woolworths) are giving their globalised competitors a run for their money in their home markets, according to a new report by the US-based Boston Consulting Group (BCG).

Equity Bank, Kenya

Kenya's mobile money revolution gathers pace

Kenya has long been recognised as one of Africa’s leaders when it comes to innovation.

Mobile Money in Kenya

Kenya's mobile innovation brings digital money closer

Kenyan financial services heavyweight Equity Bank is planning to roll out mobile banking services in July, using innovative paper-thin SIM technology.