Barclays Bank of Kenya to empower Kenyan youth with shs 230 million
The biggest problem in Kenya since Moi ruined the economy has been Youth Unemployment. President Kibaki under NARC promised to provide more than a half a million jobs each year but politics could not...
View ArticleEquitel Services will never overtake MPESA unless marketing and distribution...
We have said here several times that Safaricom services are damn expensive, where in a recent analysis we concluded that by and large Safaricom services are at least 50-70% more expensive than Airtel...
View ArticleCentral Bank slashes KBRR rate by 10 percent as CBR retained at 10.5 percent
The Central Bank of Kenya (CBK) retained the Central Bank Rate (CBR) at 10.5 percent after the Monetary Policy Committee (MPC) committee met today. This, according to CBK, is to “anchor inflation...
View ArticleJumia to get in the payments industry with Jumia Pay
Jumia to get in the payments processing industry with Jumia Pay I’d say the payments processing industry in Africa, and specifically Kenya has been quiet for a while after the MPesa entry. The industry...
View ArticleThe mobile-traded government security, M-Akiba, to be launched in October,...
After waiting for close to a year now the mobile-traded government security, M-Akiba, will launch in a month’s time, that is, October 2016. According to the Business Daily the following is what...
View ArticleCBR or KBRR, which is the lending base rate that commercial banks should adapt?
Which is the base rate that commercial banks are supposed to use to price their loans? Is it the Central Bank Rate (CBR), now at 10.5 percent, or the Kenya Banks Reference Rate (KBRR), which is at 8.9...
View ArticleThe cost of loans to lower further as CBK re-adjusts the lending base rate,...
In an earlier article we had informed you that the Central Bank of Kenya (CBK) Governor Patrick Njoroge had come out clear and declared that the Central Bank Rate (CBR) is the legitimate base rate....
View ArticleDo not be deceived, Equitel Eazzy Loan is not more expensive than M-Shwari
If you ever wanted a reason to ditch the M-Shwari Loan for the affordable Equitel Eazzy Loan, then this is it. With the reduction in interest rates to 14% in line with the new Banking Act, there has...
View ArticleEazzy Banking Suite – a new digital banking platform from Equity Bank that is...
Equity Bank is keen in making the banking experience of its customers for appealing. It is because of this reason that on Tuesday, 11th October, 2016, the bank announced that it had moved most of its...
View ArticleBarclays Financial Services Limited (BFSL) – a new stock brokerage subsidiary...
With the capping of interest rates it is only a matter of time before banks diversify to new income generating businesses so as to remain profitable. The banks will have to cut their reliance on...
View ArticleFlutterwave wants to transform payments processing in Kenya (and Africa)
Flutterwave, a startup that wants to make it big in Africa has set its inroads in Kenya’s already busy fintech playing field. Flutterwave hopes to ‘process payments to & from Africa with one API’....
View ArticleHow (and when) to invest on Treasury Bills in Kenya
The following are instructions on how and when to invest on Government Treasury Bills: Any potential investor MUST have an active and updated CDS account at Central Bank of Kenya. 91-, 182- and...
View ArticleHow to know amounts to pay Central Bank after successfully applying to invest...
A treasury bill is a short-term borrowing instrument issued by the Government through the Central bank of Kenya (the fiscal agent) to raise money on short term basis – for a period of up to one year....
View ArticleEazzyAPI by Equity Bank is the power Kenya’s online businesses have been...
Of the challenges faced by online businesses in Kenya including warehouse logistics, ontime delivery nightmare, and risks associated with cancellation of orders, payment methods top the list. Most...
View ArticleCBK: Credit and liquidity checks show impact on Monetary policy in Kenyan banks
The Monetary Policy Committee (MPC) of the Central Bank of Kenya has reviewed the outcome of its previous policy decisions and the recent economic developments. The meeting held against the backdrop...
View ArticleImperial Bank depositors to receive a third disbursement of funds up to a...
There is some good news to all the Imperial Bank depositors. Verified depositors will be able to access additional funds of up to a maximum of 10 percent of their remaining deposits. Those with...
View ArticleEazzy Loans : This is Equity Banks new one-month mobile based loan product
Equity Bank is putting on hold the Eazzy Plus Loans. Eazzy Plus Loan was attractive due to the fact that consumers could apply for loans payable in two months to one year. The lender will now focus on...
View ArticleProbable Direction of Kenya Equities Market in 2017
The CBK Weekly Report revealed that the interbank rate increased by 80 bps to 8.3%, from 7.5% registered the previous week, a reflection of the skewed liquidity distribution in the money market towards...
View ArticleTreasury Bills now on the 5th week of under-subscription
Preference in the fixed income market for the past week was skewed towards short-term paper. The overall subscription came in at 76.6%, compared to 82.5% recorded the previous week. The 91-day T-bill,...
View ArticleKenya Bankers Association (KBA) names management team that will run its...
Kenya Bankers Association (KBA) has appointment the management team that will run its fully-owned mobile banking and payments technology subsidiary, Integrated Payments Services Ltd. (IPSL). Ms...
View ArticleKenyan banks to launch their own mobile cash transfer system powered by Kenya...
About six banks, out of the 43 who are members of the Kenya Bankers Association (KBA), have received regulatory approval from Central Bank of Kenya (CBK) to launch a mobile money transfer platform....
View ArticleBanks and Telecommunications companies slow on implementing fees directive
Commercial banks and telecommunications companies are lagging behind in implementing a directive to disclose all fees on mobile money transactions to the customers. According to the Competition...
View ArticleEcobank partners with MasterCard to launch Mobile QR payment in Africa.
Ecobank Kenya has launched Ecobank Mobile App. This will enable an instant way of banking via the mobile phone by allowing customers to shop, transact and do business on the Ecobank platform without...
View ArticlePesaLink poses a threat to cheques and payment cards
Pesalink may be what brings an eventual end to the use of cheques, Payment cards and Electronic funds transfer. This is according to analysts at Ecobank Africa. A shorter settlement cycle is a major...
View ArticleKenyans transact over 3 Trillion via Mobile money.
3.35trillion. This is the amount of money moved via mobile money transfer in the last one year. This represents a 20% growth from the previous year to hit the 3trillion mark. This is according to the...
View Article12 Banks in Kenya sign to use Verve Card (The first African card that...
Interswitch Group has announced that 12 Banks in Kenya have signed with Verve International. Verve International is the company’s payment solution which allows customers to make payments across the...
View ArticleKCB results: Dividends rise in spite of flat earnings
Earnings before tax rose 10% from KShs. 26.5 billion; posted the same period last year, to KShs. 29.1 billion profit for the full year ending December 31, 2016. This was revealed by KCB Group CEO and...
View ArticleSaccos warned on the growth of cybercrime
Sacco’s have been warned on the need to strengthen their cyber defenses as the cybercrime continues to pose a threat to member’s personal information, deposits, and transactions. Speaking at the...
View ArticleHere is why CBA Loop is more than a simple Mobile Banking App
March 13th 2017, that’s when CBA announced her Mobile Banking App – the CBA Loop – which is an App that is meant to “eliminate the need for visiting a physical branch for any of the core banking...
View ArticlePesalink money transfer payments solution links 2 millionth customer
A total of 2 million bank customers have signed up for the newest money transfer service, PesaLink owned by the bankers’ umbrella body. The milestone has been achieved barely two months after the...
View ArticleChase bank sues former bosses in Ksh 14 billion theft case
Chase Bank has sued its former chairman and former senior managers in an effort to recover billions of shillings they are accused of illegally siphoning from the lender during their more than 10 years...
View ArticleOnly if Mshwari was part of the CBA Loop App
It is slightly over a month since CBA launched their mobile banking app dubbed the CBA Loop – Unbank yourself. I honestly do not know how they justified the use of the words “Unbank yourself” yet in...
View ArticleTen Years Down The Line and 80% Of Kenyan GDP Pass Through M-PESA
The year 2017 will probably be more associated with the forth-coming general elections in Kenya and whatever will happen thereafter but this is also the year M-PESA turned ten. M-pesa was launched in...
View ArticleInternet Banking- Meet First Internet Bancorp
First Internet Bancorp operates First Internet Bank of Indiana as a bank holding company. It is one of the very first state-chartered, FDIC-insured banking institutions that doesn’t have any brick and...
View ArticleAON Kenya Announced Cyber Enterprise Solutions To Guard Against Cyber Risks
“Data Is the New Oil of the Digital Economy. Data in the 21st Century is like Oil in the 18th Century”. That is a common phrase these days that most people probably take for granted, but it is real. I...
View ArticleOn Banks’ Lending Capacity: They Don’t Need Your Money
We know banks to be reservoirs which hold money. In return, they earn by charging service fees. As such, you don’t have to scratch your head trying to find a safe spot to stash your money. After...
View ArticleAfDB and World Bank clash over Africa’s huge debt
The Africa Development Bank, (AfDB) recently fired back at World Bank’s President David Malpass. In a press release, they accused Malpass of making statements that are not fact-based saying the...
View ArticleKCB Group announces Sh11.1 billion total dividend payout to shareholders for...
KCB Group PLC has announced a Shillings 11.1 billion total dividend payout to shareholders for the financial year ended 31st December 2019, an increase from the Sh10.7 billion dividend paid out in...
View ArticleKDIC announces deposit insurance coverage limit of Ksh500, 000, effective 1st...
The Kenya Deposit Insurance Corporation (KDIC) has announced the implementation of the raised deposit insurance coverage of KSh 500,000 from KSh100,000 aimed at compensating depositors in case of a...
View ArticleFamily Bank records KSH 852.1 million profit before tax in the first half of...
Family Bank has recorded a 63.6 percent increase in its profit before tax for the first six months of the year 2020. A Kenya Shillings 852.1 million profit up from Sh 520.9 million registered in a...
View ArticleKDIC rolls its risk-based premium model for commercial banks
The Kenya Deposit Insurance Corporation (KDIC) has announced the implementation of the risk-based insurance premium model for commercial banks which had been suspended last year due to the Covid-19...
View ArticleKCB To Give Sh13 Million In Loyalty Cash Rewards To Customers
KCB Bank Kenya has unveiled a loyalty rewards campaign that seeks to appreciate its customers, merchants, and agents. Dubbed “Simba Rewards”, the campaign will see customers and partners who perform......
View ArticleNBK Posts Sh36 Million Profit Reduction In Half Year Results
National Bank of Kenya reported KShs. 729 million profits after tax in H1 results compared to KShs. 765 million over a similar period in 2021. Whereas the Bank reported remarkable... The post NBK Posts...
View ArticleFaulu MicrofinanceTargets University Students In Financial Training Programme
Faulu Microfinance Bank has embarked on delivering in-person and online training on financial education to students in Universities and Technical Institutions across the country in partnership with...
View ArticleDTB CEO Selected Among Top 25 Powerful Women Impacting Business
Diamond Trust Bank (DTB) Group CEO Nasim Devji has been listed as one of the Top 25 Powerful Women in the C-Suite Impacting Business 2022 by Business Monthly magazine. Specifically,... The post DTB CEO...
View ArticleEquity Bank Buys Teachers’ Bank In New Deal With Spire Bank
Equity Bank Ltd, a subsidiary of Equity Group Holdings has signed an Assets and Liabilities Purchase Agreement with Spire Bank Limited for the purchase of certain assets and liabilities of... The post...
View ArticleCBK Approves 10 Digital Lenders Out Of 288 Initial Applicants In New Lenders Law
Central Bank of Kenya has said that digital lenders that fail to meet strict customer protection rules introduced under Digital Credit Providers Regulations, 2021 will not be allowed to operate... The...
View ArticlePrivacy Scorecard Exposes Abuse Of Personal Information By Telcos & Financial...
The 2022 Privacy scorecard report recently launched by Unwanted Witness in partnership with the Centre for Intellectual Property and Information Technology Law (CIPIT) has warned that personal data is...
View ArticleKCB Group Posts KShs. 40.8 Billion in Full Year 2022
KCB Group Posts KShs. 40.8 Billion in FY 2022 Net Profit, Balance Sheet Crosses KShs. 1.5 Trillion Mark. KCB Group PLC recorded KShs.40.8 billion in profit after tax for the full... The post KCB...
View ArticleNBK Posts Kshs. 828 Million In Net Profit For 2022
National Bank of Kenya has posted a profit after tax of KShs.828 million for the financial year ending December 31, 2022. The Bank maintained strong operational performance, reporting an operating......
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