Fintech Firm Shara Inc. Acquires Majority Stake in Maisha Microfinance
Shara Inc., a Delaware-based fintech firm co-founded by Grant Brooke and Peter Njonjo, has acquired a controlling stake in Maisha Microfinance Bank Limited (Maisha MFB) in Kenya. The Central Bank [...]
Abdi Mohamed Assumes Office as CEO and MD of Absa Bank Kenya
Following approval from the Central Bank of Kenya, Mr. Abdi Mohamed has assumed the position of CEO and Managing Director of Absa Bank Kenya Plc, effective 1 May 2023. The [...]Fingo Africa and Ecobank join forces to create mobile app for instant bank account opening and mobile payments
Ecobank Kenya, a subsidiary of the pan-African banking Group Ecobank, has launched a new app called Fingo Africa in collaboration with Kenyan fintech company Fingo. The app is designed to [...]Kenya Introduces Standardized QR Code System for Easy and Secure Digital Payments
The Central Bank of Kenya (CBK) has announced the issuance and implementation of a new standard, the Kenya Quick Response Code Standard 2023. This standard will guide how Payment Service [...]
Who Will be the Next Governor of Central Bank of Kenya? Meet the Finalists
The Public Service Commission of Kenya has released a list of six candidates who have been shortlisted for the position of Governor of the Central Bank of Kenya. The new [...]Annastacia Kimtai Appointed KCB Bank Kenya Managing Director.
KCB Group Plc has appointed Annastacia Kimtai as the Managing Director of the group's Kenyan unit; KCB Bank Kenya Limited. Annastacia who has been serving as the Retail Banking Director [...]
Commercial Banks Lending Rate Surpasses 13% Mark
The lending rate of commercial banks has surpassed the 13% mark for the first time since July 2018, this follows the Central Bank of Kenya's (CBK) increase in benchmark rates [...]Stanbic CFO Dennis Musau on how the adoption of the Risk-Based Loan Pricing Model will promote transparency, improve operational efficiency and empower customers
Bank performance is crucial for economic growth and development in any country. Kenya’s banking sector is often considered the backbone of the economy, as it plays a significant role in [...]Former Kenyan Head of Public Service Joseph Kinyua Joins KCB Group Board of Directors
KCB Group, one of the leading banks in Kenya, has announced the appointment of Dr. Joseph Kinyua to its Board of Directors. The appointment, which has been approved by regulatory [...]CBK Approves 62.5% Acquisition of First Community Bank by Premier Bank LTD, Somalia
The Central Bank of Kenya (CBK) has approved the acquisition of 62.5 per cent of the shareholding of First Community Bank Limited (FCB) by Premier Bank Limited, Somalia (PBLS) effective [...]The Case for Ajay Banga as World Bank President: Dr James Mwangi's Opinion
In his opinion piece for The Daily Nation Newspaper in Kenya, Dr James Mwangi, the Group CEO of Equity Bank, has expressed his support for Ajay Banga's nomination as World [...]YC backed Verto launches USD accounts with funds 100% Safeguarded for African Startups, Enterprises and VCs: Platform used by MTN, Jumia, Maersk and Interswitch
Verto, London-based and authorised by the UK FCA as an Electronic Money Institution, has launched 100% Safeguarded USD accounts that see funds deposited held in protected accounts. Following the recent [...]
