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 [...]
How Collaboration Drives Government Infrastructure Projects
In the world of global infrastructure development, collaborative efforts between governments, international institutions, and private entities play an important role in realizing successful completion of any project. The success of [...]
Equity Bank Pursues Hackers for US$ 2 Million Heist
The Directorate of Criminal Investigations has arrested 20 suspects linked to the Debit card fraud that occurred in Equity Bank between April 9 to 15, where more than US$ 2 [...]
CBK Accepts Bids Worth KSh 45.7 Bn at Weekly T-Bills Auction
Central Bank of Kenya(CBK) received bids worth KSh 46.3 billion at the weekly treasury bills auction that also saw the short-term 91-day treasury bills interest rates fall below 15% for [...]CBK Publishes Draft Green Finance Catalogue
Central Bank of Kenya(CBK) has released the draft Kenya Green Finance Taxonomy (KGFT) for public consultation. The draft KGFT is intended to serve as a tool to enable market participants to classify [...]Banks Switch Gears to Brick and Mortar Branches
Banks in Kenya have changed tact in the race for depositors, shifting their focus from digital platforms and other channels, mostly preferred by the high-end corporate customer, to opening physical [...]Bank of Uganda Hikes Benchmark Rate to 10.25%
The Bank of Uganda’s Monetary Policy Committee (MPC) has raised the Central Bank Rate(CBR) to 10.25% at its April meeting. In a statement, the Bank of Uganda said while recent [...]Kenya Mortgage Refinance to Provide Guarantees for Home Loans
Kenya Mortgage Refinance Company (KMRC) has introduced a Mortgage Guarantee Trust, a facility that will mitigate risks for banks and SACCOs providing home loans to high-risk individuals, particularly low to [...]Bank of Kigali Closes Nairobi Office, Focuses on Digital Channels
The Central Bank of Kenya (CBK) has cancelled the authority granted to the Bank of Kigali (BoK) to operate a representative office in Kenya, 11 years after it opened the [...]Cross-Border Payments Remain Costly across East Africa-IMF
Sending money between Tanzania and her East African neighbors incurs more than 30% in transactional costs, hindering regional economic growth, according to the IMF. Such bank fees tend to be [...]Plan to Separate M-Pesa from Other Safaricom Businesses on Course-CBK
The Central Bank of Kenya (CBK) says plans to separate M-Pesa from other Safaricom businesses is still on course, and a meeting with the telecommunication company’s board over the matter [...]CBK Retains Benchmark Lending Rate at 13%
The Central Bank of Kenya (CBK) has spared Kenyans from expensive loans following retention of its benchmark lending at 13 per cent, citing positive progress in cost of living and [...]
