KCB Group to Acquire DRC Lender Trust Merchant Bank
KCB Group has signed an agreement to acquire 85% stake in the Democratic Republic of Congo (DRC)-based lender Trust Merchant Bank (TMB). The two lenders said in a joint statement [...]
Kenya’s Banking Industry Assets Hit Record Ksh 6.0 Trillion
Kenya's banking industry total assets grew in 2021 by 11.4% to Ksh 6.0 Trillion from Ksh 5.4 trillion in 2020, driven mainly by growth in investments in government securities and [...]Central Bank of Kenya steps up crackdown on Fintech firms Flutterwave and Chipper Cash
Kenya's banking regulator has barred financial institutions from dealing with Fintech firms Flutterwave and Chipper Cash with immediate effect. In a letter sent to all CEOs of regulated financial institutions [...]Central Bank says Flutterwave Not Licensed to Operate in Kenya
Kenya's Central Bank has clarified that Africa-focused payments giant and Africa's highest valued startup Flutterwave is not licensed and should not be operating in Kenya. Flutterwave is not licensed to [...]KCB Bank Raises Interest on its Savings Account to 7.5%
KCB Bank has revised the annual interest rates for its savings accounts in a move that seeks to attract and retain its customers. In the realm of online betting and [...]
Equity Bank Partners With NALA to facilitate diaspora remittances into Kenya
Equity Bank Kenya has signed a partnership with NALA Payments Limited, a remittance payment processing platform licensed in the UK and United States, to facilitate diaspora remittances into Kenya. The [...]Equity Bank Signs MoU with EAC for SME Financing
Equity Bank has signed a Memorandum of Understanding (MoU) with the East African Community (EAC) to help fast-track its Africa resilience and recovery plan that largely targets small and medium [...]Exim Bank Acquires First National Bank Tanzania
Exim Bank Tanzania has completed the acquisition of assets and liabilities of First National Bank (FNB) Tanzania Limited as it ups its expansion plan domestically and regionally. The move comes [...]Kenya stands out in the 2021 Global Findex
Kenya is among the top five countries that have made significant progress in digital finance in the 2021 Global Findex, released by the World Bank. The World Bank’s Global Findex [...]How Absa Bank Supports SMEs Beyond Lending
Across the world, Micro-Small and Medium-Sized Enterprises play a crucial role in being the backbone of the economies. The sector accounts for more than 70 percent of all jobs globally [...]
Absa Bank Kenya Partners With Visa To Unveil domestic and cross-border remittance service
Absa Bank Kenya has partnered with financial and payment cards company Visa to launch a domestic and cross-border remittance service that will allow seamless person-to-person money transfers and persons-to-businesses payments [...]KBA Reconstitutes Governing Council Members
The Kenya Bankers Association (KBA) membership on Thursday re-elected NCBA Bank Managing Director and CEO John Gachora and Family Bank Chief Executive Officer Rebecca Mbithi as the advocacy group’s Chairman [...]
