Stock-trading App Hisa in Acquisition Talks with Nigerian Fintech Risevest
Nigerian fintech startup Risevest, which provides users with access to global investments and Nigerian stocks, is reportedly in talks to acquire Hisa, a Kenyan startup that offers access to US [...]
Stanbic and Stanchart's 2023 Sustainability Reports Highlights
Stanbic and Stanchart 2023 Sustainability Reports indicate how the lenders generated, sustained, and maximized positive impact on the society, environment and economy during the year. Key Highlights The number of [...]Wholesale Prices Decline to Record Lows
Kenya’s wholesale prices of goods and services softened to negative territory in the past one year to -1.8% from 11.4% in a similar period 2023, lows last seen in 2016. [...]Looming Inflation and Job Losses Stemming from Nature-Related Risks
The African Natural Capital Alliance (ANCA) and FSD Africa have released a report detailing the findings of the nature stress test conducted on the banking systems of five African countries, [...]Bank Accounts With Over KShs. 500k Declined by 40% in 2023
Bank accounts with more than half a million shillings declined by 39.89% while accounts with below KShs. 500 grew by 50.4% in 2023IX Africa, Schneider Electric to Power New $50mn Data Center in Kenya
Schneider Electric has deployed its MV and LV switch gear in a new East African data center established by IX Africa in Nairobi. Kenya is a hypercloud-ready region with advanced [...]Shilling Edges above KShs 131/USD on Protests, High Dollar Demand
Last week, the Kenya Shilling weakened marginally against the US Dollar, closing the week at KSh 130.7299 from KSh 129.3 the previous week. Similarly, the year-to-date performance stalled at 17.9%, [...]Credit History Requests Declined Marginally in 2023 as Interests Rates Rose
Credit reports requests declined by 3 percent, from 37.5 million in 2022 to 36.4 million, in 2023, which the CBK attributes to low business activity and lower demand for credit. [...]6 Bank Mergers and Acquisitions in 2023 Amid Plan to Raise Capital Base
In 2023, there were six consolidations in the banking sector where four commercial banks and two microfinance banks were either partially or wholly acquired, as the regulator kicks off plans [...]Agency Banking Fights for Relevance in Era of Internet, Mobile Money
Increase in mobile money and internet banking is eating into the agency banking space with number of transactions through bank agents decreasing by 8.3 percent from approximately 158.4 million transactions [...]CBK Misses Target by 51% in the July Bond Auction
The Central Bank of Kenya (CBK) has missed its target for a second time by 51% in the July bond auction, with investors seeking higher rates to maximize their real [...]EABL CEO Jane Karuku Appointed Chair of Manufacturers' Association
The Kenya Association of Manufacturers (KAM) has appointed EABL CEO and Group Managing Director, Jane Karuku, as its chairperson for a two-year term. As I take up the mantle, I [...]
