Equity Bank Adjusts Cost of Credit, Other Lenders Soon to Follow
Banks have begun adjusting the price charged for loans to borrowers, a trend that is expected to pile pressure on most households that are already dealing with the rising cost [...]
Here's What's Happening to the Kenya Shilling
The Kenya Shilling continues to soar against the USD as local investors dump dollars on bets that the greenback shortage is over. The Kenya Shilling has rallied against the greenback [...]Cabinet Approves Sale of Development Bank of Kenya, 5 Others
The cabinet has approved the sale of Development Bank of Kenya (DBK) and five other non-strategic commercial state-owned enterprises. DBK commenced financing operations in 1964 and for a period of [...]
CIB Egypt Posts EGP 29.6bn Net Profit in 2023
Commercial International Bank Egypt (CIB) S.A.E recorded a profit of 29.7 Billion Egyptian Pounds (~USD 958mn) in 2023, compared to 16.1 Billion Egyptian pounds at the end of 2022, up [...]CEOs Predict Improved Business Prospects in Q1 2024- CBK Survey
A January 2024 Central Bank of Kenya (CBK) survey shows that a majority of sampled CEOs expect improved or unchanged business activity in the first quarter of 2024. Firms in [...]Kenyan Banks More Cautious in Approving Loans- CBK Survey
The uptake of credit is likely to be slow in the early months of 2024, dampened by low business activities due to multiple taxes, expensive foreign currency as well as [...]Egypt's Largest Private Sector Bank to Use Kenya as Bridge to Sub-Saharan Africa
Egypt’s largest private-sector listed bank, the Commercial International Bank (CIB), is gearing up to bolster trade relations with East Africa, with Kenya serving as its launch pad into the Sub-Saharan [...]
Kenya Floats Tender for Maturing US$ 2 Billion Eurobond
Kenya has announced a tender offer for its US$ 2 billion, 6.875% notes that are due to mature this June 2024. Receipt by Citibank NA London of all of the [...]KBA Lobbies for Retention of CBR
Kenya Bankers Association (KBA), a lobby for the banking industry is pushing for the Central Bank of Kenya(CBK) to retain its benchmark rate at the next Monetary Policy Committee (MPC) [...]UBA Kenya Appoints Mary Mulili as New MD/CEO
UBA Kenya has appointed Mary Mulili as its new Chief Executive Officer effective 19 January, 2024, subject to regulatory approval. Mulili,while acknowledging her appointment said, “Building on UBA Group's extensive [...]Kenya Mulls Debt Swap Ahead of $2 Billion Eurobond Debt Deadline
Kenya's Government is said to be in talks with interested parties that will see Nairobi strike a deal that will allow it to channel funds into social projects. With the [...]Equity Bank Merges New Subsidiary CogeBanque With Equity Rwanda
Equity Bank has announced the merger of its two subsidiaries in Rwanda, just a month after completing the acquisition of CogeBanque. The new expanded entity means that Equity Bank Rwanda [...]
