How the Credit Information Sharing System Will Work for You
On April, 8, 2020, new Regulations came into force for Credit Reference Bureaus (CRBs) and Kenya’s Credit Information Sharing (CIS) system, refreshing the framework that has been in place since [...]
NCBA opts for bonus shares to replace dividend payouts
Shareholders of NCBA Group Plc will now receive a bonus share issue instead of cash dividends payouts that was to be given to those on the company’s register at the [...]
Bank of Uganda Issues Guidelines on COVID-19
Uganda's Central Bank, Bank of Uganda (BoU), has issued a raft of guidelines to cushion borrowers and lenders from the negative economic impacts of the global COVID-19 pandemic. The guidelines, [...]
Absa Kenya Resumes Forex Trading
Absa Kenya, previously known as Barclays Bank Kenya, has resumed forex trading after a seven day suspension. Kenya's Central Bank took regulatory action against the lender on 9th April, after [...]
Central Bank Unveils Measures to Tame Unregulated Digital Lenders
Digital lenders' predatory ways are about to come to an end following the gazetting of the Credit Reference Bureau Regulatory, 2020 (CRB REGULATIONS) on April 8, 2020. The new regulations [...]
Co-op bank to pay dividends earlier in response to COVID19
It is a huge relief for shareholders of Co-operative Bank of Kenya. This follows a move by the Bank's Directors to move back the date of dividend payments to its [...]Absa Kenya Restructures Loans Amounting to Ksh 8.3Bn
ABSA Bank Kenya has restructured customer loans amounting to over Ksh8.3 billion within the last two weeks. The move is meant to shield customers and provide relief from financial distress [...]Banks in Malawi Suspend Interest Principal Payment on Loans
Commercial banks in Malawi have suspended interest and principal payments for loans, for a period of three months. The move seeks to cushion citizens from the negative economic impacts of [...]CBK Takes Action against Absa Bank
The Central Bank of Kenya has taken regulatory action against Absa Bank Kenya for failing to provide information about some foreign exchange transactions conducted in March 2020. CBK says that [...]Fitch Downgrades Stanbic Bank Kenya's Outlook
Fitch Ratings has revised Stanbic Bank Kenya's Outlook to negative from stable and affirmed the bank's long term issuer default rating(IDR) at BB- This downgrade follows a similar action against [...]Kwara announces digital banking software for SACCOs
Digital banking platform Kwara in April announced the launch of its Kwara Pronto digital banking platform which will be offered free for 3 months, in an effort to help SACCOs [...]Moody's Raises Concerns Over Kenyan Banks’ Ability to Weather Covid-19 Crisis
US-based Moody's Corporation, one of the world's leading credit rating agency, has warned that measures put in place to shield Kenya's banks from disruptions associated with the coronavirus outbreak, might [...]
