Former Central Bank Governor Njuguna Ndung'u Nominated Minister for Treasury
Kenya's President William Ruto on Tuesday 27th December 2022 nominated former Central Bank of Kenya (CBK) Governor Njuguna Ndung'u as the new Cabinet Secretary for the National Treasury and Planning. [...]
Kenya's Victoria Commercial Bank Secures $20 Million Loan from Arab States Owned Bank
Kenya's Victoria Commercial Bank has announced it has secured a USD 20 million Line of Credit for Financing Private Sector Projects from The Arab Bank for Economic Development in Africa [...]
Kenya Bankers Association Calls on CBK to Maintain Interest Rates ahead of MPC Meeting
The Kenya Bankers Association (KBA) is asking for a hold in interest rates ahead of Thursday, 29th September's Central Bank of Kenya Monetary Policy Committee meeting. KBA cites the following [...]Ethiopia Caps Foreign Holding in its Local Banks at 30%
Kenyan banks planning to enter Ethiopia through local joint ventures will be able to buy only up to 30% stake in the latter's banks. The cap is applicable for foreign [...]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 [...]
