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A regional microfinance company requires KSh20 million (US$200,000) in capital to obtain a licence, while a national microfinance bank requires a minimum capital investment of KSh60 (US$600,000). [6] In May 2017, the institution announced its intention to introduce internet banking and mobile banking services. [7]
This is the Central Bank of Kenya's list of Licensed Microfinance Banks, updated in August 2024. [3]Caritas Microfinance Bank Ltd; Branch Microfinance Bank Ltd
The Bill and Melinda Gates Foundation warned in 2013 that lack of competition could drive up prices for customers of mobile money services and used M-PESA in Kenya as a negative example. According to the Foundation, a transfer of $1.50 cost $0.30 at the time, while the same provider charged only a tenth of this in neighboring Tanzania, where it ...
By 2015, it said it had powered 150,000 households in Kenya, Uganda, and Tanzania, with around 10,000 mobile payments made by users on its cloud platform, M-Kopanet, made on a daily basis. [1] It had over $40 million of revenue by 2015. [11] [12] In 2015, M-Kopa estimated that 80 percent of its customers lived on less than $2 a day. [13]
As of December 2018, data from the Communications Authority of Kenya showed that Equitel was the second-biggest mobile-money transfer service in Kenya with over 2.075 million subscribers. During this period, they transacted a total of Ksh467.2 billion ($4.25 billion). This value was 22.04% of Kenya’s mobile money transactions. [12]
NCBA Investment Bank Limited: Investment banking: Nairobi, Kenya – NCBA Investment Bank was established in 2005 to offer investment banking services. The group owns all the shares in the unit. [21] NCBA Insurance Agents: Bancassurance [22] – Nairobi, Kenya – NCBA Insurance Agents offers Bancassurance services. NCBA Group owns all of the ...
BankMobile Vibe at a Glance. Monthly Fee. $2.99. ATM Access. 55,000 ATMs in AllPoint Network. ATM Transaction Fee. $0. Out-of-Network ATM Fee. $3. Overdraft Fee
Source: World Bank (2014) [1] [2] [3] Source: Bain & Company (2012) [4] In the table below, usage is defined as the percentage of percentage of financial account holders who made a transaction using a mobile phone in the previous twelve months. Data is sourced from the World Bank's Global Financial Inclusion database.