StanChart, British Investor Launch US$100Mn Trade Finance Facility for Kenyan, Tanzanian Firms
The Standard Chartered Bank and British International Investment (BII), a UK development finance institution, have signed a US$100 million trade finance agreement aimed at expanding access to capital for businesses [...]
Co-op Bank SACCO Wins as Kenya Marks Global Cooperatives Year
Co-operative Bank of Kenya’s employer-based savings and credit unit, NWDT Sacco Society, has been ranked the best performing large- and medium-tier non-withdrawable deposit-taking (NDT) SACCO during the country’s 2025 Ushirika [...]Jamaica Joins Afreximbank
Jamaica has officially acceded to the Establishment Agreement of African Export-Import Bank (Afreximbank), becoming the 13th Caribbean Community (CARICOM) Member State of the African Multilateral Financial Institution. The agreement creates real [...]
Craft Silicon Pilots AI Chatbot for Kenya's Banking System
Tech company Craft Silicon is piloting agenerative artificial intelligence (AI) chatbotlinked to banking core systems able to answer different financial related queries in both English and local languages. “The user [...]Audit Uncovers Nairobi County's 174 Unauthorized Bank Accounts amid Mounting Debt
The Nairobi City County Government is facing serious allegations of financial impropriety, following reports of operating numerous unauthorized commercial bank accounts, a contravention of the Public Finance Management (County Governments) [...]CBK Kicks Off FY2025/26 Borrowing with KSh 66.65B Bond Auction
Kenya’s domestic debt market has opened FY2025/26 on a bullish note, with investors shifting decisively towards long-term bonds amid falling short-term returns and a more accommodative monetary stance. This auction [...]
CBK Launches Survey to Upgrade Credit Cost Portal Amid Lending Rate Reforms
The Central Bank of Kenya (CBK), in collaboration with the Kenya Bankers Association (KBA), has launched a nationwide customer experience survey to improve the Total Cost of Credit (TCC) website. [...]Kenya's Commercial Banks' Average Lending, Deposit Rates Continue Downward Trend
Kenya's commercial bank's average rates have continued their downward trend, mirroring the the Central Bank of Kenya's (CBK) recent monetary policy easing measures, the apex bank's statistics for May show. [...]AfDB Loans City of Johannesburg US$139mn in First Lending to a Subnational Entity
The African Development Bank Group (AfDB) has approved a ZAR 2.5 billion (approximately $139 million) corporate loan to the City of Johannesburg Metropolitan Municipality, marking the Bank's first direct lending [...]East Africa's Central Banks Turn to Gold as Shield Against Global Economic Shocks
East African central banks are increasingly turning to gold as a strategic component of their foreign exchange (FX) reserves, joining a growing global shift toward buffering against external shocks and [...]
Africa Launches First Pan-African Card Scheme – PAPSSCARD
A joint venture by the African Export-Import Bank (Afreximbank), the Pan-African Payment and Settlement System (PAPSS), and Mercury Payment Services (MPS) has launched the PAPSSCARD, first Pan-African card scheme of [...]Equity Bank Ordered to Pay Troubled Construction Firm KSh 485Mn from Kenya Pipeline's Accounts
The High Court has ordered Equity Bank Kenya to release KSh 485 million from Kenya Pipeline Company (KPC’s) accounts to Zakhem International Construction Limited, a Lebanese firm, bringing to a [...]
