Nairobi, 10 December 24… Co-operative Bank of Kenya, in partnership with Visa, have launched a Debit Card, a Credit Card and a Pre-paid Business Card designed to transform how Medium and Small Business Enterprises, Cooperative Societies and Corporate Institutions in Kenya manage their expenses, empower employees and optimize financial control.

The cards, which can be used both locally and internationally, enable customers to separate business expenses from personal expenses, make payments directly from their business account, access interest-free credit to manage cash flow, digitize and track office and travel expenses while enjoying business-centric discounts from selected Visa merchants globally. The cards are available to existing Co-op Bank customers and non-customers, and can be obtained from any Co-op Bank branch countrywide.

In delivering his keynote speech at the event, Co-op Bank’s Ag. Director of Retail Banking Mr. Moses Gitau noted that this event marks a major milestone in Co-op bank’s digital transformation journey in which the bank has invested heavily including the successful upgrade of its core banking system in 2023 at a cost of over Kes 5Billion, to drive innovation and support businesses in their digitization efforts by bringing together the best in banking and technology. Visa East Africa Vice President and General Manager remarked, “this launch marks a significant milestone in our partnership with Co-op bank and our ongoing efforts to support small and medium-sized enterprises (SMEs) and commercial enterprises in their journey towards digital transformation. Digital payments are not just convenient; they are a catalyst for business growth and economic development. In today’s fast-paced digital world, businesses need to adapt to stay competitive, and digital payments play a crucial role in this transformation”

Recently, the Bank has received several awards including the highest IT accolade in the banking sector at this year’s CIO100 Awards which celebrate innovation, leadership and excellence of organizations that have made a tangible impact on business operations, community development, and digital transformation across the African continent.

About Co-operative Bank

The Co-operative Bank Group (“Co-op Bank”) is incorporated in Kenya under the Company’s Act and is licensed to carry out the business of banking under the Banking Act. The bank was listed in year 2008 wherein it is now the largest Cooperative Bank in Africa.

The Group is one of the largest financial institutions in the region and has 5 subsidiaries namely: Kingdom Securities Ltd, Co-opTrust Investment Services Limited, Co-op Bancassurance Intermediary Ltd, Kingdom Bank Limited and Co-operative Bank of South Sudan. The bank also owns a 24.8% stake in CIC Insurance Group and 25% of Co-op Bank Fleet Africa Leasing Limited. The Bank’s footprint across Kenya and the region includes: 204 branches in Kenya, 5 in South Sudan, 603 ATMs and Cash Deposit Machines (CDMs), and over 16,000 Co-op Kwa Jirani agency banking outlets supporting our growing client base.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere, and see access as foundational to the future of money movement. Learn more at Visa.com.