Browsing: Banking sector in East Africa

Commercial International Bank (CIB), the leading private-sector bank in Egypt has announced its plan to increase its presence in the East African region.

This will be achieved by acquiring more banks in the region, which the lender says will help finance Egyptian investors looking for opportunities in Africa’s fastest growing region.

CIB offers a broad range of financial products and services to its customers, which include more than 500 of Egypt’s largest corporations, enterprises of all sizes, institutions, and households.

CIB’s strong brand and growth in retail and Small and medium-sized enterprises (SME) banking segments has continued to introduce new customers to the bank, making it the most profitable commercial bank operating in Egypt for more than 40 years.

Mayfair Bank

CIB, which has over $27.24 billion worth of assets acquired a 51 per cent stake in the Kenyan Mayfair Bank, its initial buyout in the African continent last year, …

Standard Chartered has launched Tanzania’s first Social Banking Solution.

The launch comes as a move by the bank to meet the rising demands of the country’s young and digitally-savvy population, the Bank has launched the country’s first Social Banking Solution called SC Keyboard.

“The feature, which is part of the Bank’s newly launched Full Digital Bank on Mobile, allow the Bank’s customers to access a variety of financial services from within any social or messaging platform without having to open the Banking app,” a statement from the bank reads in part.

Launched in Tanzania, Kenya, Uganda and Ghana, the solution is a first for the Bank in Africa and will be rolled out to Botswana, Zambia, Zimbabwe and Nigeria throughout the rest of the year.

Standard Chartered recently launched its digital banks in eight markets across Sub-Saharan Africa with impressive results. In Côte d’Ivoire the digital bank has exceeded initial …