Standard Chartered Bank Kenya has become the first commercial bank in Kenya to launch bond traded exclusively through mobile phone, the Bank announced Monday.
Through the SC Mobile App clients will be able to buy or sell local currency government bonds and treasury bills without the hustle of visiting a branch to fill in forms.
Accessing credit in Rwanda has for long been characterized by rigorous processes and requirements that have been seen as frustrating for many.
A local financial institution, I&M Bank is attempting to change the trend.
The bank has revised its Éclair Loan product where they will lend up to 17.5 times one's salary without collateral.
The bank says that the move to increase unsecured loans from 12 times one's salary to 17.5 times will respond to market demand and consumer needs.
In 2019, the daily turnover on all African Stock Exchanges dropped compared to the previous year, except on the Stock Exchange of Mauritius (SEMDEX) where turnover grew by 57% to $15 million. According to the 2019 Bright Africa report published by the analysis firm Riscura, SEMDEX recorded the highest increase in daily turnover.
“The improvement in the MUSE daily turnover is partially due to an increased size of the real estate sector. According to the IMF, there were significant foreign direct investments into the offshore and real estate sectors,” the report read.