KRA owes banks Ksh.13B in irrecoverable taxes – report

By Kepha Muiruri,

The Kenya Revenue Authority (KRA) owes commercial banks an estimated Ksh.13.3 billion in irrecoverable taxes mirroring on the sector’s disproportion...

KBA , KRA

HF Group keen on diversifying investments away from real estate

By Kepha Muiruri,

Mortgage financier Housing Finance (HF) has expressed its keenness to move away from the real estate comfort zone highlighting the significant shift i...

Housing Finance , nse , Real Estate

Kenyans break ‘last minute’ stereotype as deadline for old Ksh.1K notes closes

By Kepha Muiruri,

Commercial Banks registered average to routine operations on Monday as the window to change over to the new currency Ksh.1000 notes came to a close. ...

CBK , demonetization , new notes

Faulu Microfinance to open eight new branches

By Kepha Muiruri,

Faulu Microfinance is set to open eight new branches around the country at an estimated cost of Ksh.113 million. Additionally the tier-one ranked m...

Faulu Microfinance Bank Limited

Buying electricity tokens most expensive form of digital lending for Kenyans

By Citizen Reporter,

A report has revealed that buying electricity tokens is the most expensive form of digital lending. Consumers pay up to 43.4 percent on the loan du...

digital lending , Okoa Stima , tala

Banking staff to get 6% pay raise in new CBA

By Kepha Muiruri,

Bank employees are set to receive a six percent raise on their salaries following a new agreement between the Banking, Insurance and Finance Union (BI...

BIFU , CBK , KBA

HF Group posts Ksh.97 million half-year loss

By Kepha Muiruri,

The Housing Finance (HF) Group has reported a Ksh.97 million loss for the first six months of operations in 2019. The loss which is against a narro...

Housing Finance

88 Stanbic employees jobless after bank’s voluntary retirement plan

By Kepha Muiruri,

Stanbic Bank has accepted the voluntary retirement of 88 of its staff members under its ongoing rationalization plan which is embedded on cost-cutting...

portland cement employees , Stanbic Bank Kenya , telkom employees

Co-op Bank’s business mix pushes half-year profit to Ksh.7.5B

By Kepha Muiruri,

The Cooperative Group has announced a 5.6 percent jump in half-year earnings to Ksh.7.5 billion. The marginal rise in net profit which keeps touch ...

Cooperative Bank , Digitization

Sponsored: How Zenka Finance became the most preferred non- banking platform in Kenya

By Sponsored,

The digital lending market in Kenya has been expanding rapidly since the world's first digital credit solution was launched. Soon, it became the domin...

Fintech businesses , Non-banking platform , Zenka Finance

Imperial Bank’s asset-value falls by over 50% in one year

By Kepha Muiruri,

The value of net assets held at Imperial Bank Limited in Receivership (IBLIR) has sunk by half in the past year to a sum lesser than Ksh.5.2 billion (...

CBK , IBLIR , imperial bank , KCB Bank , KDIC

Stanbic remains tight-lipped on staff layoffs

By Kepha Muiruri,

Stanbic Group has remained mum on the impending staff layoffs even as its proposed voluntary early retirement (VER) scheme employee submission window ...

Equity Bank’s Finserve boss Jack Ngare moves to Microsoft

By Kepha Muiruri,

Managing Director to Equity Group’s digital finance subsidiary Finserve Africa-Jack Ngare has ditched the lender for global tech giant Microsoft. ...

Equity Group , Finserve Africa , Jack Ngare

Equity Bank half year net profit hits Ksh.12 billion

By Kepha Muiruri,

Equity Group has announced a nine percent increase in net profit for the first six months of 2019 to Ksh.12 billion. The lender’s notable surge i...

Dr. James Mwangi , equity bank , Equity Group

Cryptocurrency plan will radically transform Kenya’s monetary system: report

By Kepha Muiruri,

A ICT Ministry-backed team has retained its quest for the development of cryptocurrency assets in Kenya in spite of regulator unease. The task-forc...

bitcoin , cryptocurrency , ICT Ministry , Joe Mucheru

How China is slowly expanding its power in Africa, one TV set at a time

By CNN,

In the outskirts of Nairobi, Kenya, Michael Nganga is watching a Chinese Kung Fu movie. His small home in Limuru doesn't have running water and i...

China in Africa , Pang tV , StarTimes , TRANSSION

Kenyan banks at pains to offer new currency as shortfall hits

By Kepha Muiruri,

Kenyan banks have re-configured their teller machines to churn out old-series notes. A senior banking official told Citizen Digital that lenders ba...

CBK , demonetization , New currency

Software Group Africa appoints new CEO

By Citizen Reporter,

Software Group, a global software company that provides digital financial solutions with African operations run from Kenya, has appointed Connor Hanan...

CEO , Connor Hanan , Software Group Africa

How the rate cap sparked change to an ‘indisciplined’ financial sector

By Kepha Muiruri,

The interest rate cap has brought a substantial level of positive change to the financial sector this in spite of its well documented regressive effec...

Central Bank of Kenya , interest rate cap law , Jude Njomo , Kenya Bankers Association , National Treasury

Facebook called before Senate panel over digital currency project

By Reuters,

Facebook Inc’s plans to create a global cryptocurrency will face scrutiny from the U.S. Senate Banking Committee on July 16, the latest sign that po...

cryptocurrency , facebook , Mark Zuckerberg