Mobile Banking News
The bond can be bought via mobile phones and offers a higher interest rate than offered by commercial banks.
The merger is to enable the banks to meet the capital requirements of Malawi's apex bank.
The Pan-African lender has persuaded regulators in 25 of the 33 African markets where it holds a banking licence to allow citizens to quickly and easily open bank accounts via their mobile phones
This is to ease the on-going cash shortage in Zimbabwe.
The new regulations compel mobile phone operators and companies to create new separate and independent societies in order to provide mobile banking and money transfer services.
The initiative will cover more than 250 DFS providers with a focus on francophone markets in WAEMU region.
The platform will interconnect all banks, cut transaction costs for the banks.
The $15 million worth of new notes released is part of RBZ effort to end cash shortage.
AfDB and the Alliance for Financial Inclusion sign MoU to enhance access to financial services on the continent02.02.2017
The partnership will also strengthen the technical capacity of financial regulators and policy-makers across the continent to implement substantive policy reforms to advance financial inclusion.
The partnership will offer a suite of digital and mobile solutions across Africa.