Rwanda Central Bank Raises Lending Rate to 6.5%
The Rwanda Central Bank has raised its lending rate from 6.0% to 6.5% as it battles a drastic rise in the cost of living. High food prices as well as [...]
KCB Group Declares KES 3.2 Billion Dividends As Q3 2022 Net Profit Jumps 21% to KES 30.6 Billion
KCB Group has released its financial results for the first nine months of 2022 recording 21.4% rise in net profit rose to KES 30.6 billion mainly driven by growth in [...]
National Bank Launches KES 1.13 Billion Loan Insurance Agreement for SMEs
National Bank of Kenya (NBK) has joined forces with African Guarantee Fund (AGF) in offering a partial guarantee concerning disregards arising from loans to various Small and Medium Enterprises (SMEs) [...]
Explained: How Neobank Branch Protects Customers' Data
Neo-banks or digital banks are online-only fintech platforms that operate solely or via mobile apps, without any physical branches. A neobank primarily positions itself on customer experiences and innovation in [...]KCB Tanzania Graduates to Tier 1 Status as Assets Hit TSh1 Trillion
KCB Tanzania has graduated to tier one status after increasing its asset value to TSh1.04 trillion. For a bank to earn tier one status, the highest ranking in the banking [...]Safaricom Seeks to Reinstate Charges on Bank-to-Mobile Money Transactions
Safaricom is seeking to reinstate charges on bank to mobile-money transactions, even as it looks to soon hold talks with the Central Bank of Kenya (CBK) on the same. Safaricom Chief Executive [...]Absa Bank Appoints Kedibone Imathiu as Independent Non-Executive Director
The Board of Directors of Absa Bank Kenya PLC has announced the appointment of Kedibone Imathiu as an Independent Non-Executive Director of the Bank, with effect from Tuesday, 1st November [...]Mastercard and Cellulant Partner to Allow Consumers across Africa to shop and pay online
Mastercard and Cellulant have partnered to allow Cellulant customers across Africa to shop and pay online with global merchants wherever Mastercard is accepted. The Mastercard virtual payment solution, linked to [...]Absa Bank Kenya appoints insider Moses Muthui as interim CFO
Absa Bank Kenya has appointed its head of strategy, Moses Muthui, as its new Chief Finance Officer (CFO) in an interim capacity, effective November 1, 2022. Moses was appointed to [...]Absa Bank Kenya appoints Yusuf Omari as interim CEO
The Board of Absa Bank Kenya has appointed Yusuf Omari to take over as Interim Chief Executive Officer and Managing Director effective 1 November 2022. Yusuf Omari will replace Jeremy Awori [...]Loan Prices Hit Close to a 3-Year High on Tight CBK Lending Rates
Borrowers have begun feeling the pinch of tightening lending rates by the Central Bank of Kenya (CBK), with the cost of loans by commercial banks already hitting a 33-month high [...]KCB Group Disburses Loans Worth KES 336 Billion for Eco-Friendly Projects
KCB Group has disbursed KES 336 billion worth of loans in the last two years for projects that are eco-friendly as the lender deepens its push for sustainable finance. The [...]
