Nation Media Group, DTB unveil money transfer service

BUSINESS

|
Image: By BiztechAfrica
Nation Media Group, DTB unveil money transfer service

By Semaj Itosno, Nairobi, Kenya

Kenya’s largest media firm, Nation Media Group has plunged into the money transfer business.

The media House, touted to be the largest in East Africa, has partnered with sister company, Diamond Trust Bank (DTB) (both owned by the Agakhan) to unveil a money transfer service dubbed NationHela.

The card has been operating on a pilot basis among the Nation Media Group staff and this is the official launch to open the service to the general public.

Retailing at Sh500, the card allows customers to send and receive money from anywhere in the globe with the funds being credited straight into their NationHela prepaid Visa cards.

Diamond Trust Bank (DTB) will provide the technology for the service as well as a customer care centre for card/account holders.

According to a communiqué from the company, the NationHela card is available at DTB’s 40 branches.

Nation Media Group CEO Linus Gitahi said the service will serve more than 2.6 million Kenyans who regularly receive money from relatives and friends living abroad.

Gitahi said the prepaid Visa card is unlike any other debit or credit card as it is not linked to a bank account and is compatible with several other money transfer services.

“A user can top up the card through DTB branches and NationHela agents  or directly from M-pesa and Airtel Money accounts…upon purchasing the card, users can activate it using their mobile phones by dialing the USSD code *348# and following the prompts,” reads the statement in part.

The card is also retailed at Nakumatt and Uchumi supermarkets across Kenya.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

Mobile backlog affects revenues

New research shows that a slow approach to app development is increasingly damaging revenue opportunities in the enterprise. The study found that organisations are currently struggling with a significant mobile backlog and unable to cope with business demands. Read More

Kenya courts technology to woo investors

Kenya, East Africa’s lead economic hub, has stepped up its efforts to woo investors through its rigorous incorporation and adaptation of technology to ease business transactions. Read More

‘Prepare for an explosive year ahead’ - Dac Systems

From a technology solution supply and reselling perspective, 2015 is going to be a bumper year, says Dac Systems. Read More

The Business Network is the future

Hyper-connected business networks will extend business processes that used to stop at the walls of the enterprise, and will fulfill the promise of the real-time global networked economy to reduce complexity without sacrificing sophisticated work, says SAP. Read More

Africa SME Champions Forum: creating an ecosystem to support African champions

Didier Acouetey, Gervais Koffi-Djondo, Felix Bikpo, Amadou Kane The Africa SME Champions Forum closed in Dakar last week, but its work in support of African champions is only just beginning.  Read More

Deloitte: Africa GDP to top $3.7 trillion by 2019

Africa’s gross domestic product will grow by 50% to $3.7 trillion over the next five years, says Deloitte. Read More

EOH CEO named All Africa Business Leader

Asher Bohbot, CEO of Enterprise Outsourcing Holdings (EOH) Limited, has been named Business Leader of the Year at the CNBC Africa All Africa Business Leaders Awards. Read More

Data revolution will shake banking sector, says NCC chief

Executive Commissioner Okechukwu Itanyi; Board Chairman Peter Igoh and NCC Executive Vice Chairman Dr Eugene Juwah The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr Eugene Juwah, says Nigeria’s second revolution in data will have a significant effect on the banking sector. Read More

Qrent expands across Africa

As organisations look to hire instead of purchasing essential equipment such as computers, printers copiers, LCD screens and projectors, the demand for Qrent’s services has grown across the continent.  Read More

Africell completes Orange Uganda acquisition

Africell, one of the fastest growing mobile telecommunications operators in Africa, has announced that it has completed the acquisition of Orange Uganda. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.