A recent study by Digital Impact Awards Africa (DIAA) has revealed that at least 5,000,000 regular users of mobile financial services in Uganda during a 3 months period spent 7,113,356 man hours (296,390 man days) to clear simple financial transactions and saved 57,989,660 productive hours (An average of 19,329,887 million hours a...
Over the weekend, my social media news-feed was filled with speculations that one of the international banks was planning to exit the African Market. As we wait for official communication from the respective Bank, I want to offer my two cents concerning traditional Banking systems. When Bell telephone was struggling...
Rwandan Tech Accelerator, Inkomoko and the Bank of Kigali have partnered to launch an accelerator program to boost Startups in the small East African country. Dubbed Urumuri initiative, the 7 month program will see selected startups offered a share of RWF 60million (roughly $73,000 , 260million UGX) in interest free loans. The...
Global bitcoin remittance firm Bitwala, earlier last week introduced Bitcoin to M-Pesa transfers in Kenya, Nigeria, Tanzania and Uganda for free of charge in a move the firm says will make money transfers to any part of the world should be simple and convenient. "At Bitwala, we believe that BTC money...
Stanbic Bank has become the first bank in Uganda to be granted a Bancassurance license by the Insurance Regulatory Authority of Uganda following passage of the Financial Institutions Amendment bill 2016 which included a provision for Bancassurance and the subsequent approval of the regulatory guidelines by the Bank of...
MoneyGram and GT Bank, on Thursday announced the launch of MoneyGram’s receive services across the GT Bank network. This service will be available through MoneyGram’s cash to account service. MoneyGram CEO Alex Holmes and GT Bank general manager, operations division, Tayo Asupoto made the announcement during a signing launch ceremony at...
SimbaPay (www.SimbaPay.com) a London based digital money transfer provider – today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly. “This is the perfect...
Online shopping firm; Jumia Uganda has today partnered with Barclays to introduce the card-on-delivery payment option for customers in Kampala. In an effort to heighten the convenience of shopping online and to increase card usage amongst Ugandans, Jumia customers within Kampala can now order items and pay using their...
Kenyan banks have joined hands to launch a mobile and electronic money transaction service, PesaLink to rival M-Pesa in the mobile money transaction business. The development comes nearly 10 years after the inception of M-Pesa which was initially protested by the same banks in 2007. The banks’ petition was however...
About Stanbic Bank: Stanbic Bank Uganda Limited is a subsidiary of Stanbic Africa Holdings Limited which is in turn owned by Standard Bank Group Limited (“the Group”), Africa’s leading banking and financial services group. The Standard Bank Group is the leading banking group focused on emerging markets. It is the largest...