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 [...]Central Bank Clears JPMorgan to Set Up Office in Nairobi
The Central Bank of Kenya (CBK) has authorized JPMorgan Chase Bank, the largest bank in the US, to establish a regional representative office in Nairobi, Kenya, just days before CEO [...]MSME Expo by Kenyan Banks Opens in Nairobi This Week
The 2024 Inua Biashara MSME Exhibition, hosted by the Kenya Bankers Association (KBA), is a must event for anyone passionate about the growth and success of Micro, Small, and Medium-sized [...]High Interest Rates Cripple Private Sector Credit Demand
Credit from commercial banks to the private sector have decreased to record lows in August to stand at 1.3% from 3.7% in July. Commercial banks in turn resorted to government [...]Central Bank Lowers Interest Rate to 12%
The Central Bank of Kenya (CBK) has cut the benchmark lending rate by 0.75% to 12.00%, as expected, to support economic activity. “The MPC also noted the sharp deceleration in [...]Ecobank Sierra Leone and British Govt's Investment Firm Sign $25mn Deal to Boost Private Sector
The British International Investment (BII), the UK's development finance institution has signed a $25mn risk sharing deal with Ecobank's unit in Sierra Leone. This further strengthens our intent to be [...]Tanzania's Central Bank Tightens Regulations on Digital Lenders
The Bank of Tanzania (BoT) has published regulations to protect borrowers from abusive digital lending practices of tier-2 microfinance institutions, as well as improving transparency in the sector. A microfinance [...]Moody's Upgrades Africa Finance Corporation's Credit Rating
Moody's Investor's Service has upgraded infrastructure solutions provider Africa Finance Corporation's (AFC) credit rating from Negative to Stable. Notwithstanding increased country risk in several of AFC’s countries of operation over [...]
