BANKING

BANKING BUSINESS CYBER SECURITY MOBILE MONEY TECHNOLOGY

Privacy Scorecard Exposes Abuse Of Personal Information By Telcos & Financial Institutions in Kenya & Uganda

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 in…

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BANKING BUSINESS

CBK 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…

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BANKING

Equity 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…

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BANKING BUSINESS BUSINESS NEWS MONEY MARKET

DTB 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,…

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BANKING

Faulu 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 AIESEC and the…

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BANKING BUSINESS

NBK 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…

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BANKING

KCB 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…

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BANKING TECHNOLOGY

KDIC 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 crisis. The model…

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BANKING

Family Bank records KSH 852.1 million profit before tax in the first half of 2020

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…

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BANKING

KDIC announces deposit insurance coverage limit of Ksh 500, 000, effective 1st July 2020

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 bank collapse. The…

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BANKING

KCB Group announces Sh11.1 billion total dividend payout to shareholders for the financial year, 2019

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…

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BANKING

AfDB 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…

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BANKING BUSINESS NEWS FINANCES AND INVESTMENT

On 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…

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BANKING CYBER SECURITY

AON 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…

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BANKING

Internet 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…

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BANKING EMERGING TECH MOBILE MONEY OPINION

Ten 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…

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BANKING

Only 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…

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BANKING

Chase 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…

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BANKING

Pesalink 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…

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BANKING

Here 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…

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BANKING

Saccos 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…

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BANKING

KCB 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…

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Verve Card AFRICA BANKING KENYA TECH NEWS

12 Banks in Kenya sign to use Verve Card (The first African card that competes with Visa and MasterCard)

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 lenders’ network in over 3,000 point of…

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BANKING MOBILE MONEY TELECOMMUNICATION

Kenyans 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…

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BANKING

PesaLink 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…

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BANKING BUSINESS

Ecobank 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…

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BANKING MOBILE MONEY

Banks 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 Authority of Kenya…

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Kenya Inter-participant Transaction Switch (KITS) BANKING

Kenyan banks to launch their own mobile cash transfer system powered by Kenya Inter-participant Transaction Switch (KITS) by early April, 2017

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…

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Integrated Payments Services Ltd. (IPSL) BANKING

Kenya Bankers Association (KBA) names management team that will run its mobile cash transfer subsidiary IPSL

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 Jennifer Theuri will serve…

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treasury bills BANKING

Treasury 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…

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