Uganda Lobbies Against EU Anti-Money Laundering Grey Listing
Uganda is lobbying the European Union (EU) to expedite its removal from regional body's anti-money laundering and terrorism financing grey list, a year after it was removed from the Financial [...]
Microfinance vs. Digital Banking: What’s the Future?
In Kenya’s innovative financial space, two forces are reshaping access to credit and financial services, Microfinance and Digital Banking. Both have transformed how Kenyans save, borrow, and invest, but which one holds [...]
Half of Banked Kenyans Have More than One Account
Nearly half of the banked population in Kenyan market have multiple accounts, with the proportion of those owning single accounts declining in 2024 to 36.72% from 37.42% in 2023. “Multiple [...]
Bankers Lobby Projects All Banks Will Lower Rates by End of February
The Kenya Bankers Association (KBA) is projecting that all banks will reduce interest rates on loans by the end of this month, after the latest benchmark rate cut by the [...]KCB, Co-op Bank Cut Lending Rates
Two major commercial banks moved to lower their base lending rates, following the Central Bank of Kenya’s decision to cut the benchmark rate to 10.75% on Wednesday last week. In [...]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 [...]
