HF Group to Raise KShs 6bn in Rights Issue after CMA Nod
HF Group is seeking to raise up to KSh6 billion through a rights issue after approval by the Capital Markets Authority (CMA). The group is raising capital as part of [...]
JP Morgan CEO Jamie Dimon Meets President Ruto in Nairobi
President William Ruto met JP Morgan CEO Jamie Dimon at State House Nairobi, who had visited Kenya as part of his African tour, on Thursday. “Kenya has tremendous appeal as [...]Japan Loans African Development Bank US$ 421mn
The African Development Bank Group (AfDB) and the Japan International Cooperation Agency (JICA) have signed a landmark 51.67 billion Japanese Yen (US $421mn) concessional donor loan. We wouldn't have had [...]
CBK Unveils an Integrated Payments System for Inter-bank, Fintech Transactions
The Central Bank of Kenya (CBK) will provide an interoperability platform known as the Fast-Payment System (FPS) to enable customers to send and receive money across different financial institutions. CBK, [...]Value of Electronic Payment System Jumps to Kshs. 46 Trillion
The value of transaction through Kenya Electronic Payment and Settlement System (KEPSS) jumped in 2023 to Ksh45.5 trillion from Ksh38.1 trillion a year earlier. “The increase in the volume and [...]Banks Tax Contribution Up Ksh 190.3 Bn Despite Growth in NPLs
The Kenyan government is more reliant on tax contribution of banks compared to Tanzania; a new report by Kenya Bankers Association shows. “This means that compared to the Tanzania government, [...]Jamie Dimon Begins Africa Tour as J.P. Morgan Expands into Sub-Saharan Africa
Jamie Dimon, CEO of J.P. Morgan, the world’s largest bank, has officially kicked off his Africa-wide trip following the bank’s recent announcement and approval of Representative Offices in both Nairobi [...]Banks in Kenya Commit Sh 450 Billion to Support MSMEs
Kenya’s banking sector, through the Kenya Bankers Association (KBA), has pledged KES 450 billion (KES 150 Billion annually) over the next three years to support Micro, Small, and Medium-sized Enterprises [...]MSMEs Choke under Ksh 70 Billion Pending Bills, Overregulation Kenya Bankers
Banking sector has raised alarm over pending bills and overegulation as key threats to Kenya’s Micro, Small and Medium Enterprise (MSME) sector. As at June, 2024, the scheme had over [...]JP Morgan Appoints Central Bank Executive Sailepu Montet as Country Manager for Kenya
The world's largest bank, J.P. Morgan, has appointed Ex-Central Bank of Kenya (CBK) executive Sailepu Montet as its new Country Manager for Kenya. This comes as the bank, which has [...]East Africa Growth Holdings to Acquire an Extra 5% of IM Bank
East Africa Growth Holding (EAGH) is set to acquire 86.5 million shares of IM Group following a subscription agreement approved by the board of directors of IM. EAGH is willing [...]Central Bank of Kenya Upgrades to Global Standard for Bulk Payments
The Central Bank of Kenya (CBK) has migrated the Kenya Electronic Payment and Settlement System (KEPSS) to the Global Messaging Standard (ISO20022 Standard). “The milestone of this migration is a [...]
