StanChart, NCBA Stanbic partner with Mi Vida Homes to make mortgage loans within reach of more Kenyans
In a significant stride towards promoting homeownership and financial inclusion, several prominent banks in Kenya have announced partnerships with Mi Vida Homes, a leading real estate developer in Nairobi. These [...]
Loan Uptake by Farmers Slightly Drop in September: CBK Survey
High interest rates, lack of collateral, fear of action on default are some barriers pulling farmers back from accessing credit despite the potential of loans in improving yields. The September [...]
Treasury Approves Acquisition of Sidian Bank Shares
The Cabinet Secretary for the National Treasury and Planning has approved the acquisition of 38.91 per cent of the issued share capital of Sidian Bank by Pioneer General Insurance,Wizpro Enterprise [...]CBK to Raise KSh 55 Billion from October T-Bonds Tap Sale
The Central Bank of Kenya(CBK) has issued reopened two-year and 5-year treasury bonds in the first week of October, seeking to raise KSh 55 billion for budgetary support. This happens [...]
Monetary Policy Committee Retains Central Bank Rate at 10.5 Per Cent
The Monetary Policy Committee (MPC) has retained Central Bank Rate at 10.50 per cent In making the decision, MPC noted that inflation is expected to remain within the target range, [...]EADB Maintains Stable Outlook in New Moody’s Rating
Rating firm Moody'shas affirmedtheEastAfricanDevelopmentBank's(EADB)credit score at Baa3(medium grade) andmaintainedthestableoutlook. TheratingaffirmationreflectstheEADB'sstrongcapitalposition,offsetbylowdevelopmentassetcreditqualityandalegacyofhighnon-Performingassets(NPAs). Liquidityandfundingbenefitsfromrelativelyrobustliquiditylevelsbutismarkedbyalessdiversefundingstructurethanmanyratingpeers. Moody'sassessmentofstrengthofmembersupportbalancesalargecushionofcallablecapitalwiththelimitedabilityofshareholderstoprovidesupportgiventhelowratingsoftheEADB'sfourmainshareholders–Kenya(B3negative),Rwanda(B2stable),Tanzania(B2positive),andUganda(B2negative). In a statement, the rating firm said, thestableoutlookreflectsabalanceofupsideanddownsiderisks.“NotwithstandingtherisksassociatedwithachallengingoperatingenvironmentandtheelevatedconcentrationoftheEADB'sportfolio,thepotentialforcapitalerosionismitigatedbytheBank'scurrentlyverylowleverageratioandcautiousapproachtonewlending.” Moody’s assumes that the bank will continue to develop its risk management framework, which is not as advanced as other rated peers, while maintaining robust capital adequacy, and prudent liquidity levels. Moody's Places Kenya's Government Ratings on Review for [...]Central Bank of Kenya Joins the African Payments and Settlement Network (PAPSS)
The Central Bank of Kenya (CBK) has officially joined the Pan African Payments and Settlement System (PAPSS), enabling firms in Kenya to execute all trade and financial transactions with others [...]CBK Accepts Bids Worth KSh 4.5 Billion At Weekly T-Bills Auction
The Central Bank of Kenya(CBK) accepted bids worth KSh 4.5 billion at this Thursday’s Treasury Bills Auction out of KSh 24 billion on offer and received bids worth KSh 13.7 [...]AGF Tripples Guarantee Fund to Sidian Bank From Sh500M to Sh1.5B
The Africa Guarantee Fund (AGF) has tripled guarantee facility to Sidian Bank from Sh500 million to Sh1.5 billion to allow Small and Medium Enterprises (SMEs) easily access loans. Sidian Bank [...]CBK Urged to Further Hike the Benchmark Rate at October Meet
The Central Bank of Kenya (CBK) has been urged to maintain its foot on the gas pedal and further tighten its monetary policy stance at the next top decision-making meeting [...]NCBA Intends to Acquire Insurance Firm AIG Kenya
NCBA Group has announced its intention to acquire 100 per cent of AIG Kenya Insurance Company Limited (“AIG Kenya”). NCBA which was formed out of a merger between NIC Group [...]Co-operative Bank of Kenya Named Best SME Financier in Africa
Co-operative Bank of Kenya Plc (COOP) clinched the Best Financier of SMEs in Africa golden award at the recently held Global SME Finance Awards 2023. Co-operative Bank was ahead of [...]
