Kenya's Central Bank Projects Strong Post Virus Economic Recovery
The Central Bank of Kenya (CBK) projects Kenya's economy to begin making a strong post-pandemic recovery during the second quarter of this year, running between May and August 2020. The [...]
CBK Maintains Free Mobile Money Bank Transfers
The Central Bank of Kenya ( CBK) has determined that the mobile wallet and transaction limits that were announced on March 16th, 2020 will remain in force. This means that [...]Absa Kenya Appoints Charles Njenga as Non-Executive Director
Absa Bank Kenya has appointed Charles Njenga Murito as an independent non-executive director with effect from 24th June 2020. Charles is the Government Affairs and Public Policy Director for Sub-Saharan [...]
Brazil Suspends WhatsApp Payments, Cites Competition Concerns
The Central Bank of Brazil, on Tuesday, 23rd June 2020, ordered Visa and Mastercard to suspend the rollout of WhatsApp Payments service, citing fears that the service would be anti-competitive. [...]
Equity Group Pulls Out of Atlas Mara Acquisition Deal
Atlas Mara acquisition by Equity Group has flopped as the two firms have mutually agreed to discontinue acquisition transaction discussions citing the need to refine EGH's strategy given the COVID19 [...]
CBK Revokes Crown Bureau de Change License
The Central Bank of Kenya revoked the license of Crown Bureau de Change according to a gazette notice dated 8th June 2020. Forex bureaus in Kenya are regulated by the [...]SP Global Affirms AfDB's AAA Rating
SP Global Ratings agency has certified its AAA/A-1+' long- and short-term issuer credit assessment of the AfDB (African Development Bank) with a stable outlook. The rating agency positively assessed AfDB's [...]Anxiety as Free Mobile Money Transfer Period Nearly Ends
Expectations are that the Central Bank of Kenya(CBK) will extend the waiver on mobile money transaction fees for amounts below KSh 1,000. Following consultations with the CBK in March, mobile [...]StanChart Cuts Final Dividend to KSh 7.50
The board of directors of Standard Chartered Bank Kenya has proposed a final dividend of KSh 7.5 for the FY 2019. This is a revision down from an earlier proposed [...]Safaricom Launches Mpesa for Business App
Safaricom has launched the Mpesa for Business app, allowing businesses to withdraw money from their mobile phones and bank accounts at agents locations. The app only comes a few weeks [...]Treasury Receives KSh 2.12 Billion in KCB Dividends
The National Treasury received KSh 2.12 billion in KCB dividends payout. This makes total KCB dividends payout to the government to add up to KSh 12.98 Billion for the past [...]Credit Bank Names Jack Ngare as Non-Executive Director
Credit Bank PLC has appointed Jack Ngare as a new Non-Executive Director. Jack currently heads Microsoft's research and Development Facility, Africa Development Centre. Jack brings a wealth of experience in [...]
