Kenya’s Equity Bank is determined to launch a new mobile banking product that has the potential to shake up an industry dominated by the creator of M-Pesa, Safaricom. Experts say that while Equity could present serious long-term competition for Safaricom, it has its work cut out.
Africa
Latest articles from Africa
Down but not out: Ecobank enters a new phase
September 1, 2014Ecobank’s reputation took a battering last year as it became mired in a well-publicised corporate governance crisis. Its new chief executive, Albert Essien, has restored some calm, and he tells Paul Wallace how he hopes to make the kind of returns that will entice more international investors to buy its stock.
Libya's banks face an uphill battle
August 1, 2014Awash with hydrocarbons and boasting a highly liquid banking sector, Libya's potential is vast. However, continued political and social unrest, combined with the dominant position of state-owned banks, mean that the country's private sector banks have numerous obstacles preventing them from realising this potential.
Mozambique CBG strives for financial sophistication
August 1, 2014Central bank governor Ernesto Gove is bullish about Mozambique’s economic prospects, but acknowledges that the banking sector and capital markets need to be developed for the country to truly benefit from its energy boom.
Goldman opens access for Nigerian banks
August 1, 2014Investors are willing to diversify into African corporate debt, despite emerging market volatility, as was proved by Goldman Sachs' $400m Tier 2 transaction for Access Bank.
Mozambique stands on the brink of economic transformation
August 1, 2014Mozambique’s recently discovered gas and coal reserves have turned it into one of Africa’s brightest prospects. However, plenty of reforms will be needed before its riches trickle down to the poorest parts of the population.
CBG focuses on keeping Rwanda steady
August 1, 2014Rwanda’s macroeconomic performance over the past decade has been impressive, and the central bank governor says that developing the country’s bond markets is crucial to ensuring that remains the case.
Rwanda’s banking sector heats up
August 1, 2014Business is picking up for Rwanda’s banks following 2013’s slowdown. But competition is becoming more intense as foreign banks increasingly look to enter the fast-growing east African country.
Fiscal mismanagement is hurting Africa
July 28, 2014Countries in Africa, including Ghana, Kenya and Zambia, are battling with wide fiscal deficits brought about by grand spending plans.
Access Bank plays the long game
July 17, 2014With Nigeria’s banks battling regulatory headwinds, Access Bank is weathering the storm admirably, with a growing presence in the retail sector positioning the bank well for long-term growth.