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 I&M Bank acquires Youjays Insurance Brokers

I&M Bank has acquired an insurance brokerage firm, Youjays Insurance Brokers, as it eyes to penetrate the insurance market. The middle tier lender said it made the acquisition through its wholly owned subsidiary, I&M Insurance Agency Limited (IMIAL) has announced the successful completion of acquisition of Youjays Insurance Brokers Limited …

Ecobank Kenya launches the Emerald Ecobank Business Club

Ecobank Kenya as launched the Emerald Ecobank Business Club as it races to widen opportunities for its Small and Medium Enterprises (SMEs) customers by creating direct linkages between businesses operation in 33 African Markets with over 12.8 million customers. Members of the club will also get access to direct networking platforms, …

Safaricom’s M-PESA awarded GSMA mobile money certification

Safaricom’s (NSE: SCOM) M-PESA service has today scored another feat after successfully passing the GSMA Mobile Money Certification, a global initiative that defines and promotes excellence in the provision of mobile money services. M-PESA met the criteria in eight areas of assessment, including: safeguarding of customer funds, service security, safeguarding …

M-PESA partners with Paypal

Kenyans can from today receive money from any PayPal account across the world directly into their M-PESA accounts in real time. The development comes after Safaricom and PayPal collaborated to enable PayPal customers in Kenya link their accounts to their M-PESA accounts. This allows them to withdraw their PayPal funds …

Kenyatta linked Bank starts operations in Rwanda after buying out Crane Bank

The Commercial Bank of Africa (CBA), which is linked to the Kenyatta family, has officially started its banking operations in Rwanda following the successful acquisition of Crane Bank Rwanda Ltd, now re-launched as CBA Rwanda Limited. The move into Rwanda, increases CBA’s footprint in the continent, to five countries, which …

Phoenix Group announces investment into Karuturi global

Nairobi, 19th March 2018: The US $2 billion Phoenix Group, a global agricultural and food company engaged in the production, procurement, processing, merchanting and distribution through its integrated supply chain announced today an investment in Karuturi Global’s operations in Kenya. The investment comprising of a blend of debt and equity …