Zambia Explores Digital Currency Despite Ban on Cryptocurrency
Zambia’s central bank expects to complete research on forming a digital currency that could cut transaction costs and boost participation in the formal financial system by the fourth quarter. “The [...]
BasiGo Secures US$ 4.3 Million for its Electric Bus Business
BasiGo, a Kenyan electric bus company has announced a US$4.3 million Seed funding round, led by Novastar Ventures with participation from several Silicon Valley investors including: Moxxie Ventures, Nimble Partners, [...]
Branch Acquisition of Century MFB gets CBK approval
Branch International , a fintech enterprise has welcomed the approval from Central Bank of Kenya (CBK) for its plan to acquire Century Microfinance Bank. Branch International Limited, a digital lending [...]CMA Issues Two Coffee Brokers With Full Licenses
The Capital Markets Authority (CMA) has granted full licenses to Mt. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited, in line with the Capital Markets [...]Mauritius Holdings Acquires 73% Stake in Key Microfinance Bank
Mauritius Holdings Limited(LOLC Mauritius) has acquired a 73% stake in Key Microfinance Bank(Key MFB) by Mauritius firm, says a bulletin from the Central Bank of Kenya(CBK), effective January 1st, 2022. [...]Absa Kenya Appoints Christine Mideva Sabwa as Non-Exec. Director
Absa Kenya Plc Board of Directors has appointed Ms. Christine Mideva Sabwa as an independent Non-Executive Director with effect from February 9th 2022.With over 25 years experience in Business Strategy, [...]Kesses Solar Project Receives $35 Million Loan from EAIF
The Emerging Africa Infrastructure Fund (EAIF) has provided a $35 million loan over a 15 year term to the 40MW Kesses solar project to be built near Eldoret. The project will cost [...]
Mobile Money Transactions Ups 32% to Hit KSh 6.8 Trillion in 2021-CBK
Mobile money transactions in Kenya grew by 32% in 2021, data from the Central Bank of Kenya(CBK) shows. This growth in mobile money use is attributed to an increase in [...]NSE Daily Equity Turnover Rises 243.9% to KSh 728.9 Million
Nairobi Securities Exchange(NSE) was up to KSh 728.9 Million when trading ended at the bourse this Tuesday, 8th February 2022 compared to Monday's 217.6 Million. The number of shares also [...]Moodys Projects Non-Performing Loans to Fall Back to Pre-Pandemic Levels
Global credit agency, Moodys, has projected Kenya’s bad loans to fall over the next 12 to 18 months and resume to pre-pandemic levels as the economy recovers from Covid-19 effects. [...]World Bank and Kenya in Talks for $200M Agriculture Loan
The World Bank is set to give Kenya $200 million to support various development projects to improve food security in the country. On Monday, Vinay Kunar Vutukru, a senior agricultural economist [...]Tanzania Agrees to Sign EU Trade Deal
The East African Community is set to finally sign the new Economic Partnership Agreement (EPA) with the European Union this month as a bloc after Tanzania agreed to change its [...]
