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Digital money transfer provider SimbaPay has expanded its services to five new countries as diaspora banking kicks up. SimbaPay – which began to allow Kenyans living abroad to make M-Pesa paybill payments last June – has extended its instant Africa money transfer service to France, Germany, Ireland, Italy and Spain in addition to the United […]

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The cost of sending money home from the diaspora is set to reduce thanks to behind-the-scenes discussions taking place at the EU African leaders’ summit in Malta. According to the UK’s Financial Times an agreement is set to be reached to reduce transaction costs to “less than three per cent” of the total sent by […]

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Remittance flows to Kenya and Ethiopia from their diaspora are significantly above average compared to the rest of the Sub-Saharan Africa, according to a new World Bank report. The bank’s Migration and Development brief says remittance flows have stalled to less than one per cent increase over the past three years, but Kenya and Ethiopia […]

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A German-based insurance conglomerate is set to open a subsidiary in Nairobi, becoming the latest foreign underwriter to venture into the country. Allianz, which last year earned Sh14.2 trillion in revenue from the more than 70 countries it operates in, Wednesday announced that it is preparing to open an office in Kenya. It described the […]

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A UK online foreign exchange and payments platform, Kwanji.com, has announced a partnership with Equity Bank to allow Kenyans make payments outside the country over the web and through their smartphones. The UK headquartered firm said Kenya is the first African country where it will launch its services. Kwanji is working in partnership with leading […]

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