BANKING

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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BUSINESS NEWS

Safaricom To Use Auctioneers Against Mobile Loan Defaulters

Safaricom will soon come for your property for defaulting loans acquired through the telcos credit products; Fuliza, M-Shwari, KCB-Mpesa, and the latest product Faraja. Faraja was recently launched by Safaricom…

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CBK MOBILE MONEY

CBK announces resumption of transaction charges above KSH 100 via mobile money wallets

The Central Bank of Kenya (CBK) has announced the resumption of charges for transactions above Ksh.100 effected through bank-specific (in-house) mobile money wallets that are closely linked to the Savings…

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MOBILE MONEY

Central Bank of Kenya reviews its emergency measures to encourage continued use of mobile money

When President Uhuru Kenyatta appeared to give his first address regarding the COVID-19 pandemic in the country, he directed telco companies to explore ways of deepening mobile money usage to…

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MOBILE MONEY

Kenya shillings 1000 is the new minimum for CRB listing

The Central Bank of Kenya (CBK) has announced that Kenya shillings 1000 will be the new minimum threshold for negative credit information that lenders will submit to the Credit Reference…

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BUSINESS

KCB’s Ksh 10.7Billion National Bank Aquisition To Further Boost Its Lending Capacity

KCB Group’s proposal to acquire 100% of the issued ordinary shares of National Bank has been approved by the lender’s shareholders. This approval follows the offer made by KCB Group…

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BUSINESS

KCB pays Sh10 Nominal Value In Imperial Bank Takeover

KCB will inherit Imperial bank without paying premium after a period of receivership under the supervision of Central Bank Of Kenya. According to reports, KCB will pay Sh10 to acquire…

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BUSINESS

Fintech: Diaspora Transaction Volumes Rose To Ksh107 Billion from Ksh36 Billion

Equity’s Fintech innovation and digitization have powered rapid growth of Diaspora banking boosting the total revenue income by 38%. Diaspora transaction volumes grew by 196% to Kshs 107 Billion while…

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BUSINESS

MPs Imposed Laws Ignorant Of International Banking Regulations – CBK

The push by Kenyan legislators to relax Anti-Money laundering laws will attract increased international scrutiny, heightened financial pressure or even see Kenya’s banking sector cut off from the global financial…

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KENYA

Healthy Government Spending and Stable Private Sector to dictate GDP growth to 6.3%

Kenya is looking at 6.3% GDP growth in 2019 CBA has stated. This will be a climb from the current 5.7 % GDP growth leaving a gap of 0.6% GDP…

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TECHNOLOGY

KCB Exits Chase In Successful Resolution

KCB Bank Kenya Limited has completed its assignment as the Kenya Deposit Insurance Corporation appointed receiver manager in Chase Bank Ltd marking the first ever full resolution of a local…

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de la rue kenyans BUSINESS

Kenyan notes to get a new coat

Kenyan bank notes will get a new coat of varnish to reduce wear and tear and prolong their life in circulation. British printer De La Rue, which mints Kenyan currency…

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BUSINESS

Kenya Shilling at highest level against the dollar

Investor portfolio inflows coupled with exporter inflows offset corporate demand for the dollar powering the Kenyan shilling to an 11-month high on Tuesday. According to data, the shilling touched 102.45…

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KENYA

De La Rue in trouble for obtaining CBK tendering documents without consent

Central Bank of Kenya has opened bids for the tender of printing after Petitioners accused CBK of unlawfully restricting process to foreign entities. The new currency will be printed in…

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TECH NEWS

KCB Quarter financial report: Interest cap and political tension to blame for Low interest income

Fees and commissions saw KCB Group’s total non-interest income read at Ksh 17.5 billion an increase of 18.4% against the same period in 2016. The financial institution posted a pre-tax…

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BUSINESS

Effects of the Proposed Treasury Single Account

The government is looking to plan its cash flows better and possibly reduce borrowing through overdrafts and other short term treasury securities. This, will be under regulations provided for by…

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KENYA

CBK in a move to increase Cyber security in banks

Kenyan banks are, in two months, expected to compile and file detailed reports with the Central Bank of Kenya (CBK) on their approaches to tackle threats to cyber security. The…

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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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BANKING

Probable 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…

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BUSINESS

Debt Sustainability: Kenyan equities market on a downward trend

The government has once again postponed the launch of the much awaited 5-year mobile-phone based bond, named M-Akiba bond. The product aims to encourage individuals to purchase government securities for…

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BANKING

CBK: 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…

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BANKING

How to know amounts to pay Central Bank after successfully applying to invest in Treasury bills

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…

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treasury bills BANKING

How (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-,…

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cbr BANKING

The cost of loans to lower further as CBK re-adjusts the lending base rate, CBR, downwards

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)…

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BANKING

CBR 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…

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m-akiba BANKING

The mobile-traded government security, M-Akiba, to be launched in October, 2016 after multiple botched attempts

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…

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BUSINESS

THE GROWTH OF REPO-MARKETS IN KENYA

Repo markets have had a steady growth for the last two years. Banks have moved to sign sale and repurchase agreements. Commercial Bank of Africa (CBA) and Standard Bank of... Read More
TECH NEWS

Enough reasons to have MobiKash.

Mobile money product MobiKash has broken into the already chaotic industry where the big fish are up in arms against each other, small fish dying out and now an outfit…

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