Banks Restructure Loans worth KSh 1.38 Trillion as Virus hits Loan Books CBK
Data from Central Bank of Kenya(CBK) shows that commercial banks have now restructured loans totalling KSh 1.38 Trillion, which is 46.5% of the industry’s total loan book of KSh 2.9 [...]
PayPal Opens its platform to Cryptocurrency Transactions
PayPal Holdings Inc, a US-based online payments system has joined the cryptocurrency market. The global firm that deals with online money transfers and serves as an electronic alternative to traditional [...]Listing Loan Defaulters with CRBs Resumes
Banks will begin to forward names of loan defaulters to credit reference bureaus (CRBs) for blacklisting according to a statement from the Central Bank of Kenya. The financial regulator has [...]Inflation Drops Marginally to 4.2% in September
A fall in the price of vegetables, maize flour, beans, kerosene, and cooking gas resulted in a slight drop in Kenya's monthly inflation rate to 4.2% in September. This is [...]Banks Restructure KSh 1.12 Trillion Worth of Loans
Commercial banks have restructured over KSh 1.12 trillion worth of loans since April according to data from the Central Bank of Kenya (CBK). Out of this, personal/household loans amounting to [...]Pension Scheme Members to Buy Residential Houses Using a Portion of Their Benefits
An amendment to the Retirement Benefits Authority Act (1997) gazetted by Treasury will see pension scheme members access a portion of their accrued benefits to buy residential houses. In The [...]
Banks and Pension Funds Dominate Kenya's Domestic Debt
Banks and pension funds have dominated government domestic debt stock according to the latest CBK weekly bulletin. Banking institutions have grown their share of local debt from 53.63 per cent [...]Harnessing the Promise of Digital Finance
On August 26, 2020, the United Nations Secretary-General (UNSG) António Guterres launched the report of his Task Force on Digital Financing of the Sustainable Development Goals (The Taskforce), on which [...]
Investing During a pandemic
General principles of investing still apply even during these pandemic times. In this article, we shall explore important considerations for investors looking to reap the highest gain. First and foremost [...]
Kenyans Urged to Claim Over 800Mn of Unclaimed Shares
The Unclaimed Financial Assets Authority (UFAA) is calling Kenyans to claim unclaimed shares by August 31. A notice from the Authority says that institutions have reported over 800 million with [...]
State to Start Paying KSh 4.4 Billion to Vulnerable Groups
Starting tomorrow, the State will kick off the process of paying a total of KSh 4,377,292,000 Cash Transfers to vulnerable groups. The payment which covers May-June 2020 payment cycle, [...]Kenya Moves Closer to Becoming an Islamic Finance Hub
Efforts are underway to develop a National Policy on Islamic Finance, moving Kenya closer to being an Islamic Finance Hub in the region. It will join the ranks of South [...]
