Central Bank Lowers Benchmark Interest Rate to 10.75%, Plans On-Site Inspections
The Central Bank of Kenya (CBK) has cut the benchmark interest rate from 11.25% to 10.75%, and said that it has embarked on on-site inspection of banks to ascertain that [...]
Court Blocks CIB Kenya From Selling Defaulter's Land over KSh 167mn Debt
The High Court has blocked a proposal by CIB Kenya to change the terms of a KSh 180 million facility given to Azofco General Merchants Ltd. attaching a second [...]
Uganda Arrests Nine Over US$16mn Central Bank Heist
Ugandan investigators have arrested the country's Accountant General and eight senior officials for a heist in which US$16mn was stolen from the Bank of Uganda (BoU) in September 2024. The [...]Imperial Bank Directors Rescued from CMA Hearing Over Ksh 2bn Bond
The Capital Markets Appeals Tribunal has barred the Capital Markets Authority (CMA) from proceeding with an inquiry into the conduct of 8 directors of Imperial Bank during the application of [...]Banks Lobby Central Bank for More Interest Rate Cuts
Bankers have urged the Central Bank of Kenya (CBK) to cut interest rates further to stimulate private sector credit growth and economic activity, ahead of the CBK's Monetary Policy Committee's [...]23 Banks Slash Interest Rates after CBK's Progressive Cuts
Majority of Kenya's commercial banks have slashed interest rates on lending and deposits to a 4-month low, months after the Central Bank of Kenya (CBK) began its ongoing easing policy. [...]CIB Kenya Appoints Abhinav Nehra as New CEO and Managing Director
CIB Kenya has announced the appointment of Abhinav Nehra as its new Chief Executive Officer (CEO) and Managing Director. Among his notable achievements, Nehra managed and restructured Ecobank Transnational's retail [...]
Court Grants Reprieve to Billionaire David Langat in KSh. 2bn Stanbic Loan Dispute
An Eldoret High Court has handed a temporary reprieve to billionaire David Langat by issuing an injunction blocking auctioneers tasked by Stanbic Bank from selling his properties in Nandi and [...]Cash in Circulation up 5.6% to KSh 333.8 Bn
The total monetary value of cash in circulation in the economy increased by KSh 17.8 billion to KSh 333.8 billion in the year to June 2024 as withdrawals surpassed deposits, [...]Uganda Forwards Audit on USh 60bn Central Bank Heist to CID
Uganda's legislature has forwarded the Auditor-General's report on the UShs 60bn (US $ 16.23mn) Bank of Uganda heist to the Directorate of Criminal Investigations for further investigations. “Looking at the [...]Africa's Central Banks Adjust Monetary Policies Amid Currency, Inflation Woes
Inflation pressures across Africa exhibited divergence in 2024 with central banks adopting monetary policies tailored to country-specific factors such as fiscal concerns. African countries with moderate inflation including Kenya, South [...]How Standard Chartered is Unlocking Global Investment Opportunities for Affluent Investors
Globally diversified funds, such as Standard Chartered's Signature CIO Funds, launched globally in 2022, provide an ideal platform for investors aiming to expand their wealth internationally. Kenyan investors are redefining [...]
