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 ..
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 2018. ..
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 inaccurate ..
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 depositing ..
“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. ..
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 mortar ..
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 ..
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” ..
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 ..
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 ..
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 ..
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 launch ..
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 MD, Joshua ..
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 ..
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 most ..
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 factor ..
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 ..
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 ..
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. These ..
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 ..
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, ..
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 ..
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 issuing ..
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 balances ..
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 ..
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 Kenyans ..
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. ..
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 364-days ..
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’. ..
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 interest ..