Kenya's Competition Watchdog Fines GT Bank KSh 33.18mn in Credit Renewal Dispute with Manufacturer
Kenya’s competition watchdog has ordered Guaranty Trust Bank Kenya Ltd, a commercial lender headquartered in Nigeria, to pay a fine of KSh33.18 million
Ethiopia's Banks Pull Back at Foreign Exchange Auction as Exposure Limits Bind
After weeks of heavy oversubscription, demand eased at Ethiopia’s latest USD 500 million FX auction, leaving about USD 45 million unallocated. Banks took up roughly USD 455 million, as exposure limits and rising pricing risk began to cap bids despite persistent dollar shortages.
Nedbank Moves Closer to NCBA Acquisition after CMA Nod
Nedbank’s proposed acquisition of NCBA has advanced after Kenya’s Capital Markets Authority granted an exemption from the mandatory takeover rule, allowing a partial pro-rata offer capped at about 66 percent. Shareholder backing has strengthened, with irrevocable undertakings rising to 77.54 percent of NCBA shares, reducing execution risk as the deal awaits remaining regulatory approvals.Stanbic Bank's China Desk Strengthens Kenya-China Trade Through Finance, Payments and Cultural Partnerships
At the centre of this momentum is Stanbic Bank Kenya, whose China Desk is helping businesses navigate the complexities of operating between the two markets.
Digital Asset Firms Nudge Kenyan Banks To Embrace Stablecoins
Officials and industry participants convened at the exclusive Capital Club of East Africa at a roundtable dubbed The Kenyan Wall Street: Board of Trailblazers on the sidelines of the Africa Tech Summit Nairobi.Ethiopia's Stock Exchange Advances Six Banks Toward Listings
Ethiopia’s stock market is set for its first meaningful expansion after the Ethiopia Securities Exchange confirmed six banks have received approval in principle to list on the ESX Main Market. Awash, Dashen, Bank of Abyssinia, Abay, Anbesa, and Amhara banks are finalising securities registration with the Ethiopian Capital Market Authority and completing prospectus disclosures, the final regulatory steps before listing and the start of trading. The move signals growing momentum as Ethiopia shifts from market launch toward active capital formation ahead of the fiscal year-end.Ecobank Taps Former Family Bank CEO Rebecca Mbithi as Kenya MD
Ecobank Kenya has appointed Rebecca Mbithi, who served as Family Bank CEO from 2019 until December 2023, as Managing Director.
The 27-Year Old University Dropout Allegedly Behind KSh 11.4mn Cyber Theft
Prosecutors have charged a 27-year-old university dropout Seth Mwabe Okwanyo, also referred to in the documents as Seth Onyango Odhiambo, on 20 counts.Equity, KCB, NCBA Cut Lending Rates to 8.75% After CBK Move
Stanbic Holdings Taps Joshua Oigara as CEO, Mweheire Moves to Group Role
Stanbic Holdings Plc has named Joshua Oigara as its next chief executive, replacing Patrick Mweheire who will retire at the end of February,February Bond Reopening Draws KSh 213bn in Bids as Govt Leans on Domestic Funding
Tether Steps Into Kenya’s Virtual Assets Debate as Regulation Looms
Globally, more than $308 billion worth of stablecoins are in circulation today, with Tether’s USDT accounting for roughly 60% of that total.
