The African Development Bank (AfDB) has approved a loan of USD$30 million to support the establishment of the Rwanda Innovation Fund (RIF), which aims to promote the innovation economy in Rwanda and the East African Community (EAC). The funding will be used to establish an investment vehicle focused on funding...
Stanbic Bank Uganda has on Monday launched its 2nd annual National School Championship; a competition that aims to encourage and challenge students from various secondary schools countrywide in critical thinking and provide exposure to vast knowledge beyond their classrooms at the Kampala Serena Hotel. The annual challenge was official...
Standard Chartered Bank has on Friday announced the official launch of its digital bank in Cote d’Ivoire. This marks the Bank’s first digital bank in Africa and the first-of-its-kind to open in Cote d’Ivoire. The launch featured the Minister of ICT Mr. Bruno Nabagné KONE, as the guest of...
More than 2.5 billion people around the world – many of them in Africa – lack formal identification that enables them to access to financial and government services, according to the United Nations and the ID2020 project. What’s more, less than 10% of adults in low and middle-income countries are on...
In most developed countries building a house is a capital-intensive venture which requires a well-developed plan and readily available finances. This ensures the construction starts and is completed on time and the quality of the build is generally not compromised. In Uganda however as in many developing countries most people...
Lloyds Banking Group Plc. said on Sunday it would ban its credit card customers from buying Bitcoin and other cryptocurrencies. ”Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” a company spokeswoman said in an email. Britain's biggest mortgage...
Bitcoin’s popularity and the emergence of about 1,500 other digital coins or tokens have drawn more hackers into the red-hot cryptocurrency space, expanding opportunities for crime and fraud, cybersecurity firm Digital Shadows warned in a report on Thursday. “Cybercriminals follow the money and right now they see in the unregulated...
Kenyans will now be able to transfer funds across networks, this comes after three of the country’s mobile money platforms Safaricom’s M-Pesa, Telkom money, and Airtel money went into an agreement which aims to bring down the cost of money transactions. The pilot phase of the platform was launched...
According to reports by CIO kenya, on Friday 19th, January 2018 hackers have breached the National Bank of Kenya systems and managed to steal Ksh 29 million (approx. 1.025 billion UGX). In a statement, the Bank confirmed the incident stating that "indeed there was an attempt fraud in normal course of...
Gemalto has been selected by Bank of Cyprus to supply the world's first EMV biometric dual interface payment card for both chip and contactless payments. Europay, Mastercard and Visa (EMV) biometric dual interface payment card is set to replace PIN code facilitating higher value contactless transactions using fingerprint recognition instead...