HSBC to Exit South Africa in Deals with Absa, FirstRand
Multinational British lender HSBC Holdings has agreed to transfer its South African business to FirstRand and Absa in separate deals as it continues to pivot towards Asia. “Following a strategic [...]
National Bank of Malawi Secures US$100million from Afreximbank
The National Bank of Malawi (NBM PLC), the country's largest bank by assets, has secured US$100million from the African Export-Import Bank (Afreximbank) to support trade finance. The Afreximbank credit line [...]
Safaricom Secures Another KShs. 15bn Loan from 4 Banks for ESG
A year after it received the first tranche of a sustainability loan, Safaricom PLC has secured the second tranche of KShs. 15bn from KCB, ABSA, Standard Chartered, and Stanbic to [...]Kenyan Banks to Report Foreign Customers' Account Data to Combat Tax Evasion
Financial institutions, such as banks and fintechs. are gearing up to comply with a set of regulations called the Common Reporting Standards (CRS), which were published by the Attorney General [...]Why Banks are Expanding Branch Networks in the Digital Age- Stanbic Kenya CFO
Banks in Kenya have been expanding branch networks across the country and region despite being in the age of digitization where most transactions happen online. On the sidelines of Stanbic [...]CAK Raises Concerns in Access Bank's Acquisition of KCB Group's NBK, as COMESA Approves Deal
The Competition Authority of Kenya (CAK) has raised concerns about employment in the ongoing regulatory review of the acquisition of KCB Group's National Bank of Kenya (NBK) by Nigerian lender [...]How Ecobank Kenya Lost Money after KShs 5.6bn Unprocedural Accounting Internal Report
Between August to November 2022, Ecobank Kenya investigated procedural faults in its ledgers which may have led to the manipulation of transactions and possible fraud. There were no properly documented [...]Kenya to Overhaul Movable Property Security Laws with New Bill
The government is considering changes to laws governing security rights over movable property with the introduction of the Movable Property Security Rights (Amendment) Bill, 2024. The new Bill aims to [...]Equity Bank Kenya Staff Numbers Dropped to 7,763 in 2023-Sustainability Report
The number of employees working in Equity Bank (Kenya) reduced by 415 to 7,763 last year from 8,178 in 2022, according to lender’s latest sustainability report. The Group’s total number [...]Stanbic Bank Enters Asset Management with Money Market Fund
Stanbic Bank Kenya has entered asset management through its newly established Insurance and Asset Management Unit, with plans to introduce more investment products. “To drive growth, we must mobilise domestic [...]Kenya Joins Asian Infrastructure Investment Bank, Eyes Funding
Kenya has formally joined the multilateral Asian Infrastructure Investment Bank (AIIB) as a fully paid member, which will see it access concessional funding for infrastructure, climate change efforts, connectivity, regional [...]What Kenyan Banks Charge on Loans-CBK
Information on the cost of loan by Central Bank of Kenya (CBK) indicates borrowers pay between 9 to 20.96 per cent on loans, depending on which lender one banks with. [...]
