Finance

SunTrust Bank Nigeria receives information security certifications

Nigera SmartphoneSunTrust Bank Nigeria was granted the ISO/IEC 20071:2013 and Payment card industry data security standard (PCIDSS) certifications for its standards on data security


The ISO/IEC 20071:2013 certification was granted by the Professional Evaluation and Certification Board (PECB) Canada while the PCIDSS certification was given by African consulting firm Digital Jewels.

The bank's certifications show its strength in the area of information security.

African banks, spurred by the runaway success of payment servicem-pesa, have been scrambling to gain market share as an increasing number of Africans turn online for smaller payments.

Africa's growing population and economy, boosted by income levels, has encouraged banks to expand their reach through low-cost methods such as digital banking in a continent which is still underbanked.

SunTrust opened Nigeria's first branchless bank two years ago.

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Germany opens new office in Tanzanian to boost trade ties

German TanThe Association of German Chambers of Commerce and Industry (DIHK) has officially opened an office in Dar es Salaam under the name of ‘AHK Services Eastern Africa Ltd,” to promote and facilitate business relations between Germany and Tanzania

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African businesses continue to grow despite tough macro environment

PwCDespite a challenging environment, with public debt approaching critical levels in some African countries and concerns over excessive reliance on oil, African businesses are expanding, said PricewaterhouseCoopers (PwC), the UK-based multinational professional services network

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Fidor and IFC to expand digital financial services in Africa and Latin America

FidorGerman online bank Fidor has signed a MoU with International Finance Corporation (IFC), a member of the World Bank Group, a move that is seen to expand digital banking opportunities across Africa and Latin America

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MTN and Ecobank sign MoU to provide digital banking across Africa

MTN EcoMTN has collaborated with Africa’s Ecobank Transnational Incorporated (ETI), a move that aims to leverage each other’s assets to provide more services to their customers across Africa

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