Equity Group Pulls Out of Atlas Mara Acquisition Deal
Atlas Mara acquisition by Equity Group has flopped as the two firms have mutually agreed to discontinue acquisition transaction discussions citing the need to refine EGH's strategy given the COVID19 [...]
CBK Revokes Crown Bureau de Change License
The Central Bank of Kenya revoked the license of Crown Bureau de Change according to a gazette notice dated 8th June 2020. Forex bureaus in Kenya are regulated by the [...]
SP Global Affirms AfDB's AAA Rating
SP Global Ratings agency has certified its AAA/A-1+' long- and short-term issuer credit assessment of the AfDB (African Development Bank) with a stable outlook. The rating agency positively assessed AfDB's [...]
Anxiety as Free Mobile Money Transfer Period Nearly Ends
Expectations are that the Central Bank of Kenya(CBK) will extend the waiver on mobile money transaction fees for amounts below KSh 1,000. Following consultations with the CBK in March, mobile [...]StanChart Cuts Final Dividend to KSh 7.50
The board of directors of Standard Chartered Bank Kenya has proposed a final dividend of KSh 7.5 for the FY 2019. This is a revision down from an earlier proposed [...]Safaricom Launches Mpesa for Business App
Safaricom has launched the Mpesa for Business app, allowing businesses to withdraw money from their mobile phones and bank accounts at agents locations. The app only comes a few weeks [...]Treasury Receives KSh 2.12 Billion in KCB Dividends
The National Treasury received KSh 2.12 billion in KCB dividends payout. This makes total KCB dividends payout to the government to add up to KSh 12.98 Billion for the past [...]Credit Bank Names Jack Ngare as Non-Executive Director
Credit Bank PLC has appointed Jack Ngare as a new Non-Executive Director. Jack currently heads Microsoft's research and Development Facility, Africa Development Centre. Jack brings a wealth of experience in [...]What will 2020 hold for Equity Group?
Ratings Agency Moody’s has picked Equity Bank as among the few financial institutions that have strong liquidity buffers and adequate liquidity assets which will aid in easing asset quality pressure [...]
CBK to Hold MPC Meeting on June 25th
The Central Bank of Kenya(CBK) has announced that it will hold the next Monetary Policy Committee(MPC) meeting on June, 25th, 2020. During the last meeting held on May 27th, the [...]Absa Group Completes Separation From Barclays
Absa Group says it has completed a substantial portion of the separation program from Barclays plc which commenced in 2017. Barclays PLC in 2016 announced divesting from the African banking [...]Zimbabwe's Central Bank Limits Internal Bank Transfers
Zimbabwe's central bank, the Reserve Bank of Zimbabwe (RBZ), has limited internal bank transfers to two per day, a move that seeks to curb the free fall of the Zimbabwe [...]
