Rapid Rate Hikes to Hurt Emerging Markets Amidst Global Inflation- CBK Governor
CBK Governor Patrick Njoroge has warned that rapid policies put in place by advanced economies could hurt emerging markets’ growth amid global inflation. Patrick Njoroge, who spoke on Bloomberg Television [...]
CBK Dismisses President Ruto's Orders on Increasing Cash Transaction Limit
The Central Bank of Kenya (CBK) has dismissed president Ruto's orders to increase the daily transaction limit, saying the regulator won't be drawn into taking actions aimed at satisfying political [...]CDSC Appoints Family Bank as Central Depository Agent
Family Bank Limited has been appointed as a Central Depository Agent (CDA) and as a settlement bank by the Central Depository and Settlement Corporation (CDSC). As a CDA, the lender [...]
KCB Injects Ksh 120 Billion in Oil Marketing Companies as Govt Phases out Fuel Subsidies
KCB Bank Kenya has injected over Sh120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector. The facility is [...]Barclays Expands Private Banking Operations in Africa, Targetting $ 2 Trillion Market
Barclays Plcis expanding private-banking services in Africa, looking to target the continent’s $2 trillion high-net-worth market. The British lender has hired nine bankers fromCredit Suisse Group AGbased in mainly Dubai, [...]Cellulant Partners with Orange Money for Wallet Transfers in Botswana
Cellulant has partnered with Orange Money, the mobile money service of Orange, to enable card-to-wallet transfers for 8 banks in Botswana. The Orange Money Card-To-Wallet service will enable customers to [...]Equity Bank Inks Deal to Purchase Teacher's Owned Spire Bank
Equity Bank Kenya has signed apurchase agreement for the buyout of certain assets and liabilities of Spire Bank Limited, offering a lifeline to the struggling lender. Equity Bank (Kenya) Limited, [...]Absa Bank CEO Jeremy Awori to Step Down in October
Absa Bank Kenya CEO Jeremy Awori is set to resign in October after a ten-year stint that saw the lender rebrand from Barclays bank to Absa. According to the lender’s [...]Equity Bank Acquires Spire Bank’s Business | All You Need to Know
Summary The acquiring entity is Equity Bank (Kenya) is a subsidiary of Equity Group Holdings, a non-operating holding company. The target entity is Spire Bank. The transaction is an Assets [...]
NCBA Invests $16.6 Million in Tanzanian Subsidiary
NCBA Group has announced plans to invest $16.6 million in its Tanzanian subsidiary this year, seeking to increase its capital that was famished by losses and a rise in defaults due [...]Absa Bank Kenya Declares Interim Dividend as Net Profit Jumps 13% to KES 6.3B
Leading financial services group Absa Bank Kenya reported its financial results for the half year period ended June 2022 with net profit growing by 13 percent to Sh. 6.3 billion [...]State of Play: Open Economy in Sub-Saharan Africa
Over time, banks have collected tremendous amounts of data from their customers, including spending habits, income, demographics, etc., and they are currently sitting on a data treasure trove. Despite having [...]
