HF Group Rights Issue Oversubscribed by 38.32%
Leading financial solutions provider in Kenya HF Group Plc has concluded its Rights Issue after achieving a subscription rate of 138.32%. The capital raise attracted applications worth KES 6.38 billion [...]
Ethiopia's Parliament Approves Entry of Foreign Banks
Ethiopia will allow foreign banks to tap into the country's financial sector by setting up subsidiaries, branches or representative offices. The new proclamation will also allow foreign banks to buy [...]
Citi Sees Lending Rates Easing, Kenya Opting for Eurobond Alternatives
The Kenyan market will soon start feeling the impact of Central Bank’s Monetary Policy’s recent action to cut lending rates, Citi Bank says, predicting that most banks will soon start [...]Traditional Bank Usage Up, Mobile Bank Slightly Dips- FinAccess Survey
Traditional bank usage increased in 2024 in a year when mobile banking declined across all demographics, the 2024 FinAccess Household Survey shows. “Traditional banking saw slight increases, particularly among older [...]High Interest Rates Drive Borrowers to SACCOs
Kenyan Saccos reaped from the high interest rates on loans by commercial banks to net more customers looking for cheaper loans. Notably, rural users showed a higher preference for traditional [...]Relief for Banks as Parliament Proposes Extending Core Capital Hike to 8 years
The National Assembly's Finance and Planning Committee has proposed to extend the period that commercial banks will raise their core capital to at least KSh 10 billion from three to [...]Nigeria Raises US$2.2 Bn as Eurobond Oversubscribed by 300%
Nigeria has raised US$2.2 billion in its latest Eurobond auction, attracting over 300% in demand to finance its growing fiscal deficit, amid renewed investor confidence. “The transaction attracted a peak [...]CS Mbadi Turns the Heat on Banks on Borrowing Costs
The government is worried about deteriorating financial health of many Kenyans despite positive economic fundamentals, Treasury and Economic Planning Cabinet Secretary (CS) John Mbadi has said. “We are no longer [...]The Fierce Urgency of African Energy Banks
The AEC is calling upon African states and the private sector to fund the African Energy Bank, an institution which is focused on funding African energy projects. For more than [...]
Top Digital Banking Apps in Kenya
From the introduction of M-Pesa in 2007 to the rapid rise of digital banking apps, the industry has consistently adapted to meet the evolving needs of its customers. Today, banking [...]
Bankers Push for Further Rate Cuts by the Central Bank
Bankers have urged the Central Bank of Kenya (CBK) to further cut its benchmark rate at its final Monetary Policy Committee (MPC) meeting of the year on 5th December 2024. [...]HF Group Q3 Profit Surges by 105% Amidst Rights Issue
HF Group Plc has reported its financial results for the third quarter of 2024, posting a 105% year-on-year growth in profit after tax to KES 483 million, up from KES [...]
