CBK: Only one in 10 bank transactions is being done at a branch

By Kepha Muiruri,

Only one out of 10 bank transactions are being conducted at a physical branch pointing to the increased digitization of the banking process. Accord...

Central Bank of Kenya , COVID-19 , Kenya Bankers Association (KBA)

‘It would be foolish to say the worst is behind us,’ CBK Governor Njoroge says on economy

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has remained pragmatic on economic prospects to Kenyans this year even as the green light flashes on a potential recov...

Central Bank of Kenya (CBK) , coronavirus , COVID-19 , Kenya's economy

CBK holds the benchmark lending rate at 7 percent

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has held its benchmark lending rate for the second time at seven percent, noting continued policy transmission on rece...

Central Bank of Kenya (CBK) , Central Bank Rate (CBR)

CBK urged to relax rules to banks on loan defaults

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has been urged to relax loan-loss provisioning rules to commercial banks as loan defaults pick up. Analysts at Cyto...

Central Bank of Kenya (CBK) , Cytonn Investment , Dr. Patrick Njoroge

Banks extend cushioning to customers as loan restructures hit Ksh.360 billion

By Kepha Muiruri,

Commercial bank loan restructures to cushion borrowers against the Covid-19 pandemic have increased to top Ksh.360 billion. In his maiden budget st...

Central Bank of Kenya (CBK) , Covid-19 pandemic , non-performing loans

Digital lenders name and shame rogue peers as CBK noose draws closer

By Kepha Muiruri,

The Digital Lenders Association of Kenya (DLAK) has named and shamed rogue practices by two non-members Opesa and Okash. The two non-member digital...

Central Bank of Kenya (CBK) , Digital Lenders Association of Kenya (DLAK)

75% of Kenyan SMEs stare at total collapse by end of June

By Kepha Muiruri,

Three quarters of all small and medium enterprises (SMEs) are staring at a total collapse by the end of June as cash-flows shrink. Central Bank of ...

Central Bank of Kenya (CBK) , SMEs in Kenya

Top banks restructure Ksh.176 billion customer loans in cushion against Covid-19

By Kepha Muiruri,

Seven of Kenya’s largest banks have restructured a combined Ksh.176 billion worth of customer loans to cushion clients against the Covid-19 pandemic...

Central Bank of Kenya (CBK) , Covid-19 pandemic

CBK mulls Ksh.100B plan to cushion SMEs against pandemic

By Kepha Muiruri,

The Central Bank of Kenya (CBK) says it is working with member banks on a scheme to cushion micro, small and medium enterprises (MSMEs) against shocks...

CBK , COVID-19 , smes

Kenya in line to save Ksh.244 billion from debt restructure – World Bank

By Kepha Muiruri,

Kenya stands in line to realize gains of up to Ksh.243.6 billion ($2.3 billion) from the suspension of all 2020 loan repayments to its external credit...

IMF , Kenya's debt , National Treasury , World Bank Group

CBK sanctions Absa Bank for irregular forex trading

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has flagged Absa Bank Kenya for irregular foreign exchange trades conducted in March. According to the reserve bank...

Over 20,000 formal jobs in Kenya may be lost this year due to coronavirus

By Faizal Ahmed,

Over 20,000 formal jobs may be lost this year in Kenya due to the coronavirus outbreak. Economists from NCBA Bank stated that the scale of job loss...

coronavirus

Relief for Kenyans who earn up to Ksh.24K as Uhuru orders cuts to PAYE, VAT

By Kepha Muiruri,

President Uhuru Kenyatta has ordered the National Treasury to move to Parliament and implement a raft of changes including relief on employee tax and ...

National Treasury , stimulus , Uhuru kenyatta

Coronavirus: CBK seeks Ksh.116 billion in emergency support from World Bank and IMF

By Benjamin Muriuki,

The Central Bank of Kenya (CBK) is seeking in excess of Ksh.116.6 billion in emergency support from the World Bank and IMF to strengthen Kenya’s res...

coronavirus , World Bank

CBK releases Ksh.7.4B to boost Gov’t in fight against coronavirus pandemic

By Faizal Ahmed,

Elevated demand of the U.S. dollar coupled with a decrease in tourism numbers and export earnings has seen the Kenyan shilling fall to a four-year low...

coronavirus

Banks to extend loan repayments by one year as coronavirus effects hit economy

By Kepha Muiruri,

Commercial banks have agreed to extend repayment of personal loans by a period of up to 12 months in a measure to cushion the economy from feeling the...

Central Bank of Kenya , coronavirus , governor patrick njoroge , Joshua Oigara

Kenyan businesses count losses from coronavirus disruptions

By Kepha Muiruri,

The majority of Kenyan businesses in the country have tabulated losses from the ongoing coronavirus outbreak at less than Ksh.1 million. This indic...

coronavirus , KEPSA

Banks fall short of transparency test by Kenyans, study reveals

By Kepha Muiruri,

Local banks have fallen short of the transparency test by customers on the pricing and documentation of products and services, a new survey shows. ...

bankers , CBK , Habil Olaka

Despite tough talk, Gov’t yet to deliver on planned austerity measures

By Kepha Muiruri,

Despite talking tough on implementing far reaching budget cuts, the government has found it tough going to sustain the austerity walk as doubts on fis...

austerity , fiscal consolidation , National Treasury

CBK warns banks against ignoring sector reforms

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has cautioned banks against ignoring the implementation of recent sector reforms terming the downplay as a risk to the...

CBK , CRBs , Credit Information Sharing (CIS)