Building a Cross-border Payments Infrastructure that Actually Works for Africa
Anyone who has ever transacted or transferred money between African countries has likely wanted to pull their hair out with frustration. Exuberant fees, lack of infrastructure, and risks associated with [...]
Tanzania's NMB Bank Lists Sustainability Bond On London Stock Exchange
NMB Bank PLC, Tanzania's leading financial institution, has listed its maiden three-year US$ 73 million Sustainability Bond on the International Securities Market (ISM) and Sustainable Bond Market (SBM) Platform at [...]
Stanbic Bank's Q1: Profit Stagnates On FX Trading Income Dip
Stanbic Bank Kenya Ltd has released its financial results for the first quarter of 2024, reporting a Profit After Tax (PAT) of KES 4 billion, representing 2.8% increase from Q1 [...]Equity Group Posts Strong Q1 Growth, 25% YoY Growth
Equity Group has reported a 25% increase in after tax profits to KSh 16 Billion for the first quarter of the year on the back of a a 21% growth [...]Absa Kenya's Strategy Shifts Towards Meeting Customers Where They Are
In an interview with The Kenyan Wall Street, Absa Bank Kenya’s Director of Consumer Banking, Moses Muthui, shares insights into how the bank’s recent customer-centric initiatives will continue to contribute [...]Nasim Devji to Step Aside as DTB Kenya CEO in Reorganisation
Diamond Trust Bank is seeking Chief Executive Officer for its Kenyan business after current CEO Nasim Devji was reassigned. In this context DTB Kenya intends to recruit a country CEO [...]KWFT Targets 1000 Women-Led Businesses in KSh 725Mn Deal
The African Guarantee Fund (AGF) has signed a KSh 725 million risk sharing partnership agreement with the Kenya Women Microfinance Bank PLC (KWFT) in a move to boost financial inclusion [...]Standard Chartered and Visa Link APIs for Seamless Transactions
Visa will directly process transactions and payments made by Standard Chartered customers eliminating inconvenient and costly intermediaries after the two financial entities agreed to partner. We are delighted [...]CBK Weekly T-Bills Auction Undersubscribed for the First Time in Months
The Central Bank of Kenya (CBK) Weekly Treasury Bills Auction underperformed for the first time in 8 months. Bids received by the fiscal agent at this week’s auction amounted to [...]
Absa Life Assurance Posts 90% Jump in Profits to KSh 862m
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy [...]Microlender Real People Kenya Posts Net Loss of KSh 93M
Real People Kenya, a micro-lending financial solutions provider, widened its losses to KSh 93 million in 2023, from a net loss of KSh 85.3 million in 2022. Revenues declined to [...]Victoria Commercial Bank Pumps KSh 20.1M More into Nursery School
Victoria Bank, which owns 24.90% shareholding of Montessori Learning Centre, purchased additional shares of an upmarket Nairobi-based Kindergarten at a cost of KSh 20,075,000. The lender’s share of losses at [...]
