Kenyan Gov’t to Spend Sh 15 Billion in the Rollout of New Currency
Central Bank of Kenya (CBK) Governor Patrick Njoroge has said that the rollout of the new generation currency will cost the Government approximately spend Sh15 billion, an exercise that is [...]
Citi Issues Buy Rating for Absa, as split from Barclays PLC 69% Done
The separation of Absa Group from the UK-based Barclays PLC is well on course. Absa Group is a banking institution based in South Africa and with subsidiaries across Africa. The [...]
Nairobi County Launches New Revenue System After Terminating JamboPay's Contract
Nairobi County has terminated the contract of JamboPay which has been collecting revenue for the county for more than five years. City hall accused the company of not collaborating and [...]High Court Declines to Suspend Planned Acquisition of NBK by KCB Group
The takeover of National Bank of Kenya by the Kenya Commercial Bank Group remains in force after the High Court declined to issue conservatory order to suspend the deal. In [...]Regulator clears Kestrel Capital Founder of any liability in the Kenol Kobil Insider Trading case
The Capital Markets Authority has completed the second phase of the investigations into the Kenol Kobil insider trading scandal. Since the investigations began, the markets regulator says it has recovered [...]Kenyan digital lenders form lobby group ahead of planned regulation
In a move to engage the regulators ahead of planned regulation, Kenyan digital lenders have formed a lobby group, the Digital Lenders Association of Kenya (DLAK) consisting of 12 members. [...]Tanzania suspends conversion of Kenyan Currency in their banking sector
The Bank of Tanzania has suspended the exchange of Kenyan shillings in their banking system. The move follows Kenya’s decision to fight illicit financial deals by demonetizing the KSh1,000 bank [...]Institutional investor acquires stake in Tuskys Supermarkets
An institutional investor has acquired a stake in Tusker Mattresses Ltd, a Kenyan based family owned retail chain with more than 60 branches across the region. According to our sources [...]
KCB Group financials to weaken after the acquisition of National Bank Moody's
KCB’s plan to acquire the debt-laden National Bank of Kenya recently gained approval from its shareholders and the Central Bank of Kenya. The transaction is expected to be finalized by [...]World Bank Sets aside Sh 5 Billion to Fund Kenyan SMEs
World Bank has partnered with the Ministry of Trade and Industrialization to set up a Sh 5 Billion kitty to fund local entrepreneurs saying this is meant to improve innovation [...]James Githii Mburu to Replace John Njiraini as New KRA Commissioner General
James Githii Mburu has been appointed as the new Commissioner General of the Kenya Revenue Authority (KRA), replacing Mr John Njiraini whose term ends in June. In a special gazette [...]CMA Regulatory Sandbox is now accepting applications. Here's why it is a big deal
When the Capital Market's Authority announced plans last year to set up a regulatory sandbox for startups to join and develop their FinTech products albeit within the regulatory frameworks set, [...]
