KCB Settles With Competition Authority Over Misleading Credit Card Ad
The Competition Authority of Kenya (CAK) has gazetted a settlement it made with KCB last year following a complaint that the lender had mislead a client on credit card charges [...]
NCBA Group Acquires Insurer AIG Kenya
NCBA Group has announced the completion of its 100% acquisition of AIG Kenya Insurance Company Limited (AIG Kenya) from its parent company AIG Group, Inc. NCBA plans to tap into [...]Banks, Lenders Need Treasury Approval to Raise Interest Rates- Supreme Court
In a landmark ruling with far reaching consequences for banks and other lending institutions, the Supreme Court has affirmed an earlier decision that a bank should seek approval from Treasury [...]CBK Seeks KSh 50 Billion in July Auction
The Central Bank of Kenya (CBK) is looking to raise KSh 30 billion through the reopening of two bonds flagged for budgetary support for the month of July. The FXD1/2023/002 [...]Central Bank Licenses 7 More Digital Credit Providers
The Central Bank of Kenya (CBK) has licensed 19 more digital credit providers, bringing the total number of licensed DCPs to 58. The newly licensed companies include Mogo Auto, ED [...]
KBA Kicks-Off Search for Chief Executive Officer
The Kenya Bankers Association (KBA) has kicked-off the process of replacing Habil Olaka as the Chief Executive Officer, with 5 July 2024 being the last day for candidates to submit [...]Bank of Uganda Closes Mercantile Credit Bank
The Bank of Uganda (BOU) has placed Mercantile Credit Bank Limited under liquidation, revoked its license and ordered for winding up of its operations after over 30 years of operation. [...]Ethiopia Opens Banking Sector to Foreign Investment
The Council of Ministers in Ethiopia has approved two draft proclamations as an integral part of the National Bank of Ethiopia's (NBE) economic reform agenda. “These legislations represent a significant [...]Safaricom and Pezesha Introduce Mkopo Wa Pochi' to Lend Small Businesses
More than 600,000 users of the Pochi La Biashara' payment service can now borrow small loans with a one-time access fee of 2.76% on the principal amount, courtesy of a [...]Kenya to Raise Capital Threshold for Banks to KSh 10 Billion
Treasury Cabinet Secretary, Prof Njuguna Ndung’u has presented a plan to raise the minimum core capital requirement for banks from the KSh 1 billion to KSh 10 billion. “This is [...]Stakeholders Launch ‘Chora Plan’ Campaign to Boost Financial Literacy
The Kenya Bankers Association (KBA), in partnership with the Central Bank of Kenya (CBK) and other stakeholders, this week launched the Chora Plan' (Plan Your Money) financial literacy campaign aimed [...]Nigeria's Access Bank Acquires Majority Stake in Tanzanian Bank
Access Bank PLC will consolidate its entry into the East African market after acquiring the African Banking Corporation of Tanzania (ABCT) bank, a subsidiary of Atlas Mara Ltd. This strategic [...]
