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

Alcatel-Lucent’s rapid growth in Africa

Alcatel-Lucent is growing faster in Africa than on a global level, says VP for Africa Daniel Jaeger. Read More

SAP accelerates shift to the Cloud with 41% revenue growth in third quarter

SAP has once again raised its revenue outlook, reporting broad market adoption of SAP HANA and its ‘Run Simple’ strategy validated. Read More

BSE mulls online trading

The Botswana Stock Exchange (BSE) has kept its innovation promise by experimenting with an internet based trading platform.  Read More

Philips launches “Buy Original” campaign

Philips has launched “Buy Original” campaign to highlight the existence of counterfeit products in Kenya and sub-Saharan Africa and empower consumers. Read More

UBA appoints local head for Kenyan operations

The UBA Kenya Bank Board has announced the appointment of Mr Isaac Mwige as the Bank’s new Chief Executive Officer.  Read More

VMware reports third quarter 2014 results

VMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter of 2014. Read More

CA Technologies study reveals application divide

A global study commissioned by CA Technologies reveals that that “Leaders” who are investing in new innovation and development capabilities are growing revenue at more than twice the rate of “Laggards,” creating an Application Divide in the marketplace. Read More

RubiBlu eyes African growth

SA-based software firm RubiBlu plans to expand in Africa on the back of significant growth. Read More

MTN Business partners Ghana SME 100 Ranking

MTN Business has been announced as the headline sponsor of the first annual Ghana SME 100 ranking, an initiative put in place to identify and honour the country's top 100 local Small Medium Enterprises.  Read More

Banks deny charging customers for BVN

Money deposit banks (MDBs) have denied allegation that they were milking their customers through ongoing Bank Verification Number (BVN) project of the Central Bank of Nigeria (CBN). Read More

PRESS OFFICES

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

FEATURED STORY

Growing African focus on data securityGrowing African focus on data security

Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.

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.  

COMPANY NEWS

Schneider Electric off-grid, on-profit solutions to create social change in African rural communitie

Schneider Electric South Africa has set itself a target to create access to energy for 20,000 Africans by the end of this year. 

SAP accelerates shift to the Cloud with 41% revenue growth in third quarter

SAP has once again raised its revenue outlook, reporting broad market adoption of SAP HANA and its ‘Run Simple’ strategy validated.