IFC Loans KSh8.25 Billion to Co-operative Bank to Support MSMEs
The International Finance Corporation (IFC), a member of the World Bank Group, has given a KSh8.25 billionloan to Co-operative Bank, to enable the bank to increase lending to Micro, Small [...]
Dutch Development Bank Gives Equity Bank $5.4 B Loan Guarantee to Support MSMEs
Dutch Development Bank FMO announced a $50 million (Ksh 5.48 billion) loan guarantee facility with Equity bank Kenya to support Kenyan micro-, small and medium-sized enterprises (MSMEs) to recover from [...]Arise B.V. Acquires 34.9% Stake in NMB Bank Tanzania
African investment company, Arise B.V. has acquireda 34.9% stake initially owned by Rabobank, in NMB Bank, which is listed on DSE (Dar es Salaam Stock Exchange) in Tanzania. The Capital [...]Cooperative Bank Issues Profit Alert Following a Tough Year
Kenya's fourth-largest bank by assets, Cooperative bank, has issued a profit warning following a tough year that saw the bank's expenses rise faster than its income. In a public statement, [...]
CBK raises KSh 13.8 Billion from Weekly T-Bills Auction
The Central Bank of Kenya(CBK) raised KSh 13, 840.6 Million from the weekly Treasury Bills Auction held this Thursday 7th January 2021. This represents an undersubscription of 65.7%, out of [...]
Kenya's Forex Reserves Fall by $1 Billion to $7.75 Billion in 2020
The level of foreign exchange reserves held by the Central Bank of Kenya fell by $1 billion to $7.75 billion on 31st December 2020 compared to $8.758 billion held on [...]Equity Group get nod to merge its subsidiary with BCDC Bank, Congo
Equity Group has received regulatory approval to merge its subsidiary Equity Bank Congo (EBC) and Banque Commercial Du Congo (BCDC).The new bank will be known as Equity Banque Commercial du [...]Central Bank of Egypt Extends Waiver on Bank Transaction Fees to June 2021
The Central Bank of Egypt has extended the suspension of withdrawal fees from ATMs and waivers on fees and commissions for banking transactions in the Egyptian pound. The measures in [...]Diamond Trust Bank (DTB) Issues Profit Warning
Listed tier 1 lender Diamond Trust Bank (DTB) Kenya Limited has issued a profit warning for the financial year ended December 2020. In a statement, the bank said its earnings will [...]Kenya's Central Bank Gears Up For Open Banking in New 5-Year Strategy
The Central Bank of Kenya has published its 2021-2025 vision and strategy document which sets the agenda on the future of the country's digital payments ecosystem including the adoption of [...]Mwalimu National SACCO fully acquires Spire Bank
Mwalimu National SACCO has fully acquired Spire Bank from Naushad Merali for undisclosed amount. The deal to sell off Spire Bank begun in 2014 when the Competition Authority (CA) gave [...]NIC Securities to cease operations after Merger with CBA
NIC Securities has applied to the Capital Markets Authority (CMA) concerning its request to cease operations. This investment bank is associated with the former NIC Bank, which has since merged [...]
