Central Bank of Nigeria Issues Operational Guidelines for Open Banking
The Central Bank of Nigeria has issued operational guidelines for open banking in Nigeria. Open banking is a financial concept that allows third-party financial service providers to access banking data using [...]
EIB and TDB team up to unlock $400m for African businesses affected by trade shocks
Investment by business across Africa most impacted by trade and supply chain challenges will be supported by a new targeted financing initiative backed by the European Investment Bank (EIB) and [...]JP Morgan opens regional office in Nairobi, Kenya
JP Morgan, the largest bank in the United States and the world's sixth-largest bank by total assets, has announced the opening of a regional office in Nairobi, Kenya. Kenya's President [...]Ecobank Kenya appoints Josephine Anan-Ankomah as new Managing Director
Ecobank Transnational Incorporated (ETI) has announced the appointment of Ghanaian career banker, Mrs. Josephine Anan-Ankomah as the Managing Director, Ecobank Kenya, following approval from the Central Bank of Kenya. Mrs. [...]Acorn, Absa Announce KES 6.7 Billion Financing Deal For Students’ Affordable Housing
Rental housing developer Acorn Holdings Limited together with Absa Group and Absa Bank Kenya, have announced the successful conclusion of a KES 6.7 Billion financing agreement to support the development [...]Egyptian lender CIB announces 100% acquisition of Mayfair Bank Kenya
Commercial International Bank (CIB) Egypt has announced the full acquisition of Mayfair CIB Bank Limited in Kenya. The Central Bank of Kenya (CBK) has granted consent to CIB of Egypt [...]High Court Allows KCB Absa to Seize Savannah Cement Assets over Unpaid Debts
The High Court has allowed KCB Group and Absa Bank to seize assets of Savanna Cement Ltd over a debt running into hundreds of millions of shillings. Justice Wilfrida Okwany [...]Absa Partners with African Guarantee Fund to Train 600 Women Entrepreneurs
Absa Bank Kenya has partnered with Melanin Kapital and the African Guarantee Fund (AGF), seeking to train at least 600 women entrepreneurs with free investment readiness. The programme, dubbed Tuungane 2x [...]Absa Bank Kenya Reports 30% growth in Q3 Net Profit to KES 10.7 billion
Absa Bank Kenya PLC has reported a Profit after Tax of KES 10.7 billion for the period ended September 30, 2022, a 30% growth compared to a similar period last [...]Equity Group Q3 2022 Net Profit Jumps 28% to KES 34.4 Billion as deposits surpass KES 1 trillion
Equity Group Holdings on Tuesday reported a 28% increase in profit after tax to KES 34.4 billion for the nine months to 30th September 2022. The Group recorded a 15.2% growth [...]Google Bans Unlicensed Loan Apps in Kenya
Google has taken steps to ban unauthorised loan apps operating in Kenya from its Play Store, the market on Android devices. With effect from January 31, 2023, Google will require instant loan [...]Joshua Oigara Takes Over as CEO of Stanbic Bank Kenya
Stanbic Bank has announced the appointment of former KCB Group CEO Joshua Oigara as the new Chief Executive of Kenya and South Sudan operations, effective December 1st, 2022. Oigara will [...]
