Banks profitability heading for the rocks, KBA warns

By Kepha Muiruri,

Growth in earnings by commercial banks will soon grind to a halt under prevailing macro-economic conditions, the Kenya Bankers Association (KBA) has w...

CBK , interest caps , Kenya Bankers Association

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

Why new notes are taking time to hit your wallet

By Kepha Muiruri,

While a number of Kenyans have already gotten their hands on the new age currency notes, a similar proportion is yet to interact with the new notes to...

Central Bank of Kenya (CBK) , demonetization , New currency

‘CRB should stop listing individuals over Ksh.100 debt ’- Olaka

By Kepha Muiruri,

Commercial banks have welcomed the ongoing conversation to review the law governing Credit Referencing Bureaus (CRBs), highlighting on gross inconsist...

CBK , CRBs , Habil Olaka , Kenya Bankers Association , Metropol , patrick njoroge

Mortgage accounts poised to increase with KMRC launch

By Kepha Muiruri,

The Kenya Mortgage Refinancing Company (KMRC) launched on Wednesday by President Uhuru Kenyatta is expected to double the number of mortgage accounts ...

affordable housing , CBK , KMRC , National Treasury

Controversy of overvalued shilling: Why Central Banks intervene globally

By Kepha Muiruri,

An International Monetary Fund (IMF) report has ignited the debate on the true value of the Kenyan shilling. This after another study by Amana Capi...

Central Bank of Kenya (CBK) , IMF , Kenya Shilling

FULL LIST: Uhuru appoints former MPs, Governor to top parastatal jobs

By Benjamin Muriuki,

A handful of individuals who lost in the last General Election have been awarded plum parastatal jobs as board directors and board members. In also...

Parastatal appointments

SME credit guarantee a piece of a larger jigsaw – Experts

By Kepha Muiruri,

Stakeholders in the micro, small and medium enterprises (MSME) space have welcomed the establishment of a credit guarantee scheme by government termin...

interest rate caps , Kenya Bankers Association , SMEs in Kenya , State of the nation address , Viffa Consult

Legislators unstirred by rate-cap ruling

By Kepha Muiruri,

Legislators have vowed to ensure the continued hold of interest earnings from commercial banks’ lending, playing down a hint at a return to expensiv...

COFEK , Habil Olaka , interest rate cap law , Jude Njomo , Kenya Bankers Association

Kenyan banks lose Ksh.50M daily as hackers wreak havoc

By Faizal Ahmed,

The Directorate of Criminal Investigations (DCI) on Wednesday published posters with the faces and names of 130 suspects wanted for hacking into bank ...

Directorate of Criminal Investigations (DCI) , Habil Olaka , hacking

Kenya’s private sector mulls creation of corruption referencing bureau

By Kepha Muiruri,

Players drawn from Kenya’s private sector are pondering the creation of a corruption referencing bureau in the course of the next five years, in an ...

Central Bank of Kenya , Habil Olaka , Kenya Bankers Association , KEPSA , Whistle-blower Bill

Banks shy away from farmers over waiver culture

By Sophie Kinoti,

Government debt relief to small holder farmers has seen most lenders become hesitant to offer loans. According to a report by the Kenya Bankers’ ...

agriculture , banking , debt waiver , farming , government policy , Habil Olaka , Jared Osoro , KBA

Banks to shift to risk based deposit insurance plan

By Kepha Muiruri,

Commercial banks insurance premiums on customer deposits could soon rise with plans to move to a new risk based model. Currently banks pay a flat r...

banks , Central Bank of Kenya , consumer confidence , Habil Olaka , INSURANCE , KBA , Kenya Deposit Insurance Corporation , Mohamud Ahmed , risk based supervision

Banks cut out ‘middleman’ with PesaLink launch

By Mumbi Warui,

12 banks have been cleared by the central bank of Kenya to run and operate industry based mobile money transfer platform. PesaLink, a brainchild of...

banks , cashlite , Fintech , Habil Olaka , Integrated Payment Services Limited , IPSL , KBA , Kenya Bankers Association , M-pesa , merchants , micropayments , mobile money transfer , payment solutions , PesaLink , Safaricom , subsidiary , Transactions

Gov’t will not arrest drug addicts – County Commissioner

By Nicky Gitonga,

Kwale County Commissioner, Kutswa Olaka, has assured 4,200 victims of drugs addiction in the county that the government will neither harass nor arrest...

Drugs Addicts , Kwale County Commissioner Kutswa Olaka , President Uhuru Kenyatta

KBA hires team to run fintech subsidiary

By Citizen Reporter,

The Kenya Bankers Association (KBA) has appointed a senior management team to run its mobile banking and financial technology subsidiary. The move ...

banks , business , CBK , cut operating costs , financial technology , Fintech , Habil Olaka , Integrated Payments Services Limited , IPSL , Jeniffer Theuri , KBA , Kenya Bankers Association , M-pesa , Michael Mbuthia , money transfer , Safaricom

Bankers Association appoints new CEO in charge of mobile banking

By Teddy Otieno,

The Kenya Bankers Association has appointed a senior management team to run its mobile banking and financial technology subsidiary. The move comes ...

Standard Chartered to lay off 300 as bank moves shared services to India

By Citizen Team,

Standard Chartered Bank Kenya has announced plans to shift part of its operations from Nairobi, to India, as part of plans to restructure its operatio...

Family bank , First Community Bank , Habil Olaka , KBA , Lamin Manjang , lay off 300 employees , restructuring , shared services centre , Sidian Bank , Stanchart , Standard Chartered Bank Kenya

KBA expects pressure to drive more banks into restructuring

By Patrick Igunza,

The banking sector is set for a round of layoffs, as lenders opt for technology to drive growth. The Kenya Bankers Association (KBA) said pressure ...

Bank restructing , equity bank , Family bank , Habil Olaka , KBA , KBA CEO , Kenya Bankers Association , layoff employees , lower cost of services , pressure mounting on banks , Sidian Bank

Will law capping interest rates really protect the borrower?

By Wangui Ngechu,

In March 2016, Parliamentarians embarked on an a rather imperative plan to cap the skyrocketing interest rates on loans through what came to be the fa...

Banking (Amendment) Bill 2015 , borrower? , capping , CBK , Federation of Kenya Employers , FKE , Habil Olaka , Interest Rates , Law , President Uhuru Kenyatta , really protect , the Chief Executive Officer Kenya Bankers Association , wangui Ngechu