Business Daily;
Commercial Bank of Africa, Kenya’s largest privately owned bank, has applied for a licence in Rwanda, joining a growing queue of local lenders investing in Kigali, its top management said Monday.
CBA plans to start operations in the first half of next year and will be the fifth Kenyan bank to set up in the Rwandan market, following in the footsteps of KCB,Equity I&M Bank and GT Bank, previously Fina Bank.The bank which currently operates in Kenya, Uganda and Tanzania also disclosed its plan to partner with a West African bank to start offering online and mobile banking services in a Francophone nation next year.
Read more on Business Daily; CBA seeks licence to start operating in Rwanda next year
DAILY NATION;
M-Pesa users can now send money through their mobile phones to Rwanda.
A deal enables Africa’s biggest telecom operators MTN and Safaricom to deepen financial inclusion and boost regional trade.
The pair will also share best practices in mobile-based remittances.
The partnership follows one made early this year between Safaricom and Vodacom Tanzania, introducing cross-border transactions between the two countries.
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