A microfinance institution, Citygate Global, has unveiled a multi-purpose mobile loan application, Monéé, which was designed to also cater for loan, savings, funds transfer services, investment, bill payment and others.
This initiative follows the Central Bank of Nigeria (CBN) directive to enable global money transfers to be paid in US Dollars in an effort to streamline and increase the flow of formal diaspora remittances into Nigeria.
The Banks and Other Financial Institutions’ (BAFI) Awards is annual event set up to recognize and celebrate organizations that have achieved excellence in the delivery of their financial services across the entire client/customer spectrum and contributed to the industry’s overall growth.
Richway beat a host of other banks at the International Standards Excellence Award 2021, to take home the Award for performing exceptionally in a tumultuous year characterized by the negative impacts of COVID-19 pandemic.
Opportunity International and Oikocredit Announce $100 Million Impact Investment Agreement to Advance the Education Sector in Low-income Countries
Opportunity International and Oikocredit will mobilize the funds over the next three years with an initial, near-term focus on Ghana, Kenya, Nigeria, Senegal, and Uganda.
The Central Bank of Nigeria, through NIRSAL Microfinance Bank, has announced the reopening of its portal for Micro Small and Medium Enterprises and households affected by COVID-19 to access up to $70,000.
The government previously allocated NGN 2.3 trillion (USD 6 billion) to pandemic relief efforts, including microfinance and other programs.
Mobile money firms across Africa are ramping up plans to bring banking to millions after the pandemic caused a surge in the use of digital financial services.