IM Bank Receives $50 Million IFC Loan to Support SMEs in Kenya
The International Finance Corporation (IFC) has partnered with FMO, a Dutch development bank, to assist small businesses in Kenya by providing funds for working capital, expansion, and to weather the [...]
Stanbic Holdings Half-Year Net Earnings up 35% to KSh 3.5 Billion
Stanbic Holdings Plc has recorded a 35 per cent increase in half-year profits to KSh 3.5 Billion for the period ended 30th June 2021. This is compared to KSh 2.6 [...]
Absa Kenya Unveils WhatsApp Banking
Absa Bank Kenya haslaunched a new digital innovation dubbed Abby, which allows its customers to access their accounts and transact via WhatsApp. Abby is an AI- powered conversational bot that [...]
Kenya Inches Closer to Regulating Digital Lenders
Kenya has made progress in its quest to regulate digital lenders after a parliamentary committee approved a Bill giving the Central Bank power to regulate them following complaints from borrowers. [...]CBK Accepts KSh 22.9 Billion at Weekly T-Bills Auction
The Central Bank of Kenya( CBK) received bids worth KSh 23.9 Billion at the Weekly T-Bills Auction, representing a performance of 99.76% out of the KSh 24 Billion that was [...]Kenya's Current Account Deficit Widens to 5.4% of GDP in June
Kenya's current account deficit, which measures a country's trade and financial flows with other nations, widened to 5.4% of GDP in the 12 months to June from 5.2% in the [...]Kenya's Banking Assets rise 12.4% to KSh 5.4 Trillion
Kenya's Banking Industry Balance Sheet size expanded by 12.4% in 2020 to KSh 5.4 Trillion from KSh4.8 Trillion in 2019, driven by a faster expansion in non-loan assets. This is [...]CBK Accepts KSh 17.7 Billion at Weekly T-Bills Auction
The Central Bank of Kenya(CBK) collected KSh 17.7 Billion at the Weekly Treasury Bills Auction out of bids worth KSh 17.8 Billion that was received from investors, representing an undersubscription [...]CBK Retains Benchmark Rate at 7%
The Central Bank of Kenya (CBK) through its top policy-making organ-the Monetary Policy Committee (MPC) has retained the benchmark policy rate at 7% for the ninth consecutive time. At its [...]Co-operative Bank of Kenya to Hold Virtual AGM in August
Co-operative Bank of Kenya Limited has notified shareholders that it will hold the 13th Annual General Meeting(AGM), through virtual means on Friday, Aug 20th 2021, at 11.00 am. Top on [...]CBK to Strengthen its Monetary Policy Tools
The Central Bank of Kenya(CBK) intends to modernize its monetary policy tools and operations in line with new economic and financial realities. According to a white paper that it has [...]Kenya's Forex Reserves Fall by $250 Million in One Week
Kenya's foreign exchange reserves dropped to the lowest level in July, after consistent growth in the past four weeks. The forex reserves, which are often used as a shield against [...]
