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

MTN Group Sustainability Report released

MTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability Report shows. Read More

Senegal seeking ICT investment opportunities in Mauritania

Mauritania, an impoverished nation in West Africa, is a largely untapped ICT market, according to many Senegalese industry players. A group of ICT companies from Senegal recently visited Mauritania to find out if this statement is indeed true. Read More

Schneider Electric releases the first survey on counterfeit electrical products in Africa

Counterfeiting of most common electrical products is widely spread in all African countries, representing 40% to 80% of their markets, says a new survey. Read More

MTN Business launches services that will host SMEs securely on its domain

MTN Business has launched Bring Your Business Online, a platform that gives small and medium-sized businesses (SME) increased visibility by providing online presence on the MTN managed domain for less than R20 a month. Read More

Job fears in Senegal as Tigo outsources network management

People working for Tigo Senegal are worried about their jobs after the mobile operator signed an agreement that handed over the management of its network to the Swedish telecom giant Ericsson. Read More

JUMIA Côte d’Ivoire expands its operations

JUMIA has opened six new hubs in Cote d’Ivoire in the cities of Yamoussoukro, Bouaké, San Pedro, Daloa, Gagnoa, and Korogho.  Read More

US firm Actifio drives into African markets

US based company Actifio, which specialises in copy data virtualisation, has revealed its plans for the expansion of its footprint in the African markets. Read More

Richard Edet appointed Country Senior Officer for Alcatel-Lucent Nigeria

Alcatel-Lucent has announced the appointment of Richard Edet, effective today, as Country Senior Officer and managing director for Nigeria. Read More

Africans to surge up the ranks of ultra-high-net-worth individuals

The number of ultra-high net worth individuals – those with at least $30 million in assets – in Africa will increase by a staggering 59% over the next 10 years, stronger than the 34% projected global growth. Read More

Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

2bn priced out of internet access2bn priced out of internet access

A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India. 

COMPANY NEWS

MTN Group Sustainability Report released

MTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability ...