Equity boss calls for regulation of mobile lending apps

By Citizen Team,

The government has been called on to regulate micro lending platforms that have gained popularity in the country. Equity Bank is among lenders push...

Central Bank of Kenya , equity bank , exposure , high default rates , interest rate cap , James Mwangi , lending , micro loans , mobile lending apps , predatory lending , SME

Why Japan men are ‘rented’ for as low as Ksh.900

By CNN,

"Unless you have interesting input coming into you all the time, you will psychologically die." "You learn by seeing through other people's eyes." ...

japan men rented

Central Bank moves to spur lending

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has reviewed its base lending rate to commercial banks by 50 points to nine percent in an attempt to enhance the flow ...

agriculture , banking , benchmark lending rate , Central Bank , economic growth , first quarter growth , KNBS , lending , Manufacturing , patrick njoroge , private sector lending

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

Treasury plans repeal of interest rate cap law

By Citizen Reporter,

After months of talk, the government has finally tabled its proposal to repeal the law capping interest rates in the country. This after a consensu...

banking , Banking Amendment Act , Biashara fund , budget , Financial Markets Conduct Bill , Henry Rotich , interest rate cap , Merger , National Credit Guarantee Schem , parlaiment , patrick njoroge , Uhuru kenyatta , Uwezo Fund

We’ve learnt our lesson on interest caps’, Pres. Kenyatta

By Reuters,

Kenya could modify or scrap a law that caps commercial lending rates, President Uhuru Kenyatta said on Tuesday, recognizing that access to credit for ...

Central Bank of Kenya , chatham House , Commonwealth Heads of State Summit , interest rate cap , London. , risky borrowers , smes , Uhuru kenyatta

Treasury mortgage financing arm gets Sh15bn seed funding

By Kepha Muiruri,

With incorporation at the end of the month insight, the Kenya Mortgage Refinancing Company (KMRC) has received major backing from the World Bank to th...

African Development Bank Regional , Henry Rotich , Housing , Kenya Mortgage Refinancing Company , KMRC , mortgage , seed funding , World Bank

Treasury eyes credit management bill in rate cap scrap bid

By Kepha Muiruri,

The National Treasury has rubbished the remarks from members of the national assembly who threatened to collapse any motion calling for the repeal of ...

banking , Henry Rotich , IMF , interest rate cap , Kenya Mortgage Refinancing Company , parliament , World Bank

Central Bank retains CBR at 10pc with eyes on interest cap effects

By Dennis Otieno,

The Central Bank of Kenya (CBK) has retained the benchmark lending rate at 10 percent following its bi monthly rate setting meeting. The decision t...

banking , banks , benchmark lending rate , business , CBK , CBR , Central Bank of Kenya , import , Inflation , inflation target , interest cap law , Interest Rates , Monetary Policy Committee , mpc , patrick njoroge , personal loans , private sector credit , Real Estate , regulator , Treasury

Equity Bank profit dips 4pc on tight loan book management

By Sophie Kinoti,

Equity Bank has announced a four percent dip in its full year profit to Sh16.6 billion. The country’s largest bank by customer numbers attributed...

Banking Sector , business , equity bank , full year profit , government borrowing , Interest Income , interest rate cap , investment , James Mwangi , KBA , loan bok , non-performing loans , NPLs , operating costs , provisions , tighter controls

Bad loans dampen NIC Bank’s 2016 profit

By Citizen,

The continued growth of non-performing loans has weighed down NIC Bank’s profit for the year ended December 2016. During the period, the listed b...

bad loans , Banking Industry , Central Bank of Kenya , core banking system , corporate customers , customer deposits , dividend , EFFICIENCY , Interest Income , interest rate cap , John Gachora , loan book , NIC bank , non-performing loans , operating expenses , profit , provisions , results , shareholders

IMF calls for review of interest rate cap law

By Patrick Igunza,

Six months after being signed into law, controls on interest rates is yet again stirring debate among Kenyans. With the Banking (Amendment) Act 201...

Banking (Amendment) Act 2016 , cap interest rates , CBK , commercial banks , IMF , Interest Rates , international monetary fund , Kikuyu MP Kimani Ichungwa , parliament , President Uhuru Kenyatta , private sector credit

Africa Oil, partners to begin drilling new Kenya wells in December

By Reuters,

Africa Oil and its partners in Kenya will drill up to eight exploration and appraisal wells starting from December to boost proven resources and impro...

Africa Oil , crude , kenya , Maersk International , oil fields , Oil Pipeline , recoverable contingent oil resources , South Lokichar Basin , Tanzania Uganda , Tullow Oil

Govt. mulls plans to merge Youth, Women, Uwezo funds

By Sophie Kinoti,

The government has renewed plans to merge state managed funds in an effort of making lending more affordable. The move will see the Uwezo, Youth En...

access to credit , cap interest rates , government , John Gachora , Julius Korir , Kenya National Bureau of Statistics , NIC bank , private equity funds , smes , Uwezo Fund , Women Enerprise Fund , Youth Enterprise Development Fund

CBK to create collateral registry

By Sofia Ali,

Banks will soon implement the collateral registry to ease transactions between banks and their customers. Central Bank of Kenya (CBK) Deputy Govern...

CBK , collateral registry , heila M’Mbijjewe , KBA

KIRUKU: No longer will banks be economic saboteurs

By Anne Kiruku,

The signing into law of the Banking Act (Amendment Bill) to cap interest rates by banks in Kenya should be emulated by the region at large. It is a mo...

Banks to follow law capping interest rates – Association

By Sam Gituku,

As commercial banks strategize on how to respond to the capping of interest rates, the Kenya Bankers Association (KBA) has committed to follow the new...

Borrowers , commercial banks , credit , Interest Rates , Kenya Bankers Association , Law

CBK to introduce capital adequacy rules

By Citizen,

The Central Bank of Kenya (CBK) has introduced new risk based supervision regulations for banks, to keep tabs on the banking industry’s capital adeq...

banks , CBK , chase bank , core capital requirements , ICAAP , international capital adequacy assessment process , risk based supervision , three banks placed under receivership , Treasury

ICDC to partner with MFIs for SME lending

By Beatrice Eghwa,

The Industrial and Commercial Development Corporation (ICDC) has set aside Sh1 billion to fund small and medium sized companies as part of its investm...

Borrowers , business proposal , ICDC , lending , risk profile , smes , start ups

Kenya, India sign trade deal to revive Rivatex, boost economy

By Wangui Ngechu,

Visiting India's Prime Minister Narendra Modi opn Monday extended a 4.5 billion shillings credit line to Kenya via India's Export Import Bank (Exim B...

bilateral talks , cancer centre , India's Export Import Bank (Exim Bank) , Kenyatta National Hospital (KNH) , KNH , pharmaceutical drug manufacturing , President Uhuru Kenya , Prime Minister Nasendra Modi , The Rift Valley Textile Industry (Rivatex). , wangui Ngechu