Africa's mobile money makes its way to Europe with M-Pesa

M-Pesa has nearly 17 million active customers and as many as 186,000 agents worldwide. Customers make more than €900 million (US$1.1 billion) worth of person-to-person transactions a month. Now, the technology that was honed in Africa is being exported to Europe, with the launch of the mobile wallet technology in Romania [...]

Rural and Low-Income Kenyans to Benefit From AfDB Energy Loan

The Board of Directors of the African Development Bank Group (AfDB) has approved a loan of US $133 million to the Republic of Kenya to increase electricity access for low-income populations, especially those in rural areas. [...]

Centum Changes K-Rep Bank Board After Buying Control

Centum Investment, East Africa’s largest publicly traded investment group, bought control of Kenya-based K-Rep Bank Ltd. In a deal completed yesterday, Centum increased its shareholding to 67.54% from 1.54% and replaced six of the bank’s directors. [...]

KPC seeks Ahmednasir ouster from KES 5bn battle with KenolKobil

The Kenya Pipeline Company (KPC) has turned its guns on Nairobi lawyer Ahmednasir Abdullahi, seeking his removal as the arbiter in a long-running KES 4.6 billion dispute with oil marketer KenolKobil. KPC says Mr Abdullahi exposed his impartiality in an interview with a local TV station. [...]

StanChart profit up 20.1% helped by lower interest costs

Standard Chartered has grown its after-tax profit by 20.1% in nine months to end of September 2014, helped by a cut in interest payments to depositors and sale of a property in the first half of the year. [...]

Orange bets on new clients to grow business

Orange Telkom has earmarked 2015 as the year of growing subscriber numbers and business. The firm's top management says following a positive trend of acquiring more customers this year, the impressive growth is expected to continue in 2015. Company Chief Executive Vincent Lobry on Thursday [...]