Nation Media Group, DTB unveil money transfer service
BUSINESS| Aug. 16, 2012, 12:03 p.m.
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.
MORE BUSINESS NEWS
WorldRemit raises $45m to drive next phase of growthMoney transfer service WorldRemit has raised $45m in financing from TriplePoint Venture Growth BDC Corp. and Silicon Valley Bank. Pioneering a mobile-first approach to remittances, WorldRemit will use the funds to support its rapidly growing transfer volumes. Read More
Jumia, AXA partner to provide insurance products and services to African customersAXA will become the exclusive provider of insurance products and services through Jumia and other AIG online and mobile platforms in Africa. Read More
Orange to acquire Millicom subsidiary in DRCOrange and Millicom have signed an agreement leading to Orange’s acquisition of Millicom’s operations in the DRC. Read More
Ringier Africa and Asia Pacific get new structure and leadershipRingier is restructuring its international market set-up for the beginning of the new year, with four dedicated teams established for each of the African business models. Read More
Travelstart secures strategic partnership with MTNAmadeus, the global technology investor, has announced a $40m investment in Travelstart in partnership with MTN, Africa’s leading mobile and digital life services operator. Read More
VMware appoints new Regional Director of SSAVMware has announced the appointment of Matthew Kibby as regional director of Sub-Saharan Africa (SSA). Read More
More than 700 delegates at Sage’s first African Business Partner Conference in South AfricaSage’s first African Business Partner Conference in SA marks a milestone in Sage’s journey towards becoming the global market leader for integrated accounting, payroll and payment systems. Read More
SweepSouth secures funding from top SA Venture CapitalistsVumela Fund has backed online home cleaning services platform SweepSouth. Read More
Smarter use of digital skills, tech, could boost global economy by $2 Trillion: AccentureOptimizing the use of digital skills and technologies could generate $2 trillion of additional global economic output by 2020, according to a new study by Accenture. Read More
Ghana’s real estate industry to benefit from MLS databaseReal Estate Professionals in Ghana will soon have access to a new Multiple Listing Services (MLS) designed to relieve them of the stress of listing properties. Read More
FEATURED STORYViber Spreads Good Vibes in Africa with the introduction of public chats
Viber, one of the leading messaging and calling apps with more than 664 million unique users worldwide, has opened its latest social channel ‘Public Chats’ to partners in Africa and the Middle East.
BEST READ NEWS
IN DEPTHPoised for greater heights – Roshi Motman, AfricaCom CEO of the Year Winner
Roshi Motman is not your average CEO. Since taking up the reins as the first female CEO of Tigo Ghana in 2014, she has led the Tigo brand through a remarkable transformation.
COMPANY NEWSArbor Networks maintains leadership in IHS Infonetics Report on DDoS prevention appliances
Arbor Networks was identified once again as the top supplier of DDoS mitigation appliances overall, as well as in the Carrier, Enterprise and Mobile market segments, according ...