Barbados PM Mia Mottley lauds M-Pesa as noble innovation

By Duncan Mutwiri,

Barabados Prime Minister Mia Mottley has lauded Safaricom's M-Pesa as a noble innovation. Speaking at the Micheal Joseph Center in Nairobi on Wedne...

Barbados PM , Mottley , Safaricom

CBK assures affordable loans but won’t shepherd banks on rates

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has assured Kenyans to the retention of affordable loans in the post rate cap environment in its attempt to demystify ...

CBK , Interest Rates , Kenya Bankers Association (KBA)

CBK boss warns banks against taking advantage of Kenyans

By Kepha Muiruri,

Central Bank of Kenya (CBK) Governor Patrick Njoroge has cautioned banks against side-lining borrowers in the aftermath of the interest rate caps repe...

CBK , KBA

‘Greedy’ lenders to blame for feared hike on bank loan rates

By Kepha Muiruri,

The interest rate charged on your new loan is inevitably set to rise in the aftermath of the interest rate cap repeal in spite of assurances from the ...

CBK , Finance Act , interest rate caps , KBA , Treasury

Kenya bankers welcome Uhuru repeal on interest rate cap

By Paul Ombati,

Kenya Bankers Association chairperson Joshua Oigara has welcomed the repeal of the interest rate cap which President Uhuru Kenyatta assented to His...

bankers association , oigara

Banks free to set higher interest rates as Uhuru approves Finance Bill

By Kepha Muiruri,

President Uhuru Kenyatta has signed into the law the Finance Bill 2019 giving nod to among other provisions, the free setting of interest rates by com...

Finance Bill 2019 , interest rate caps , KBA

Banks promise not to take advantage of interest cap removal

By Kepha Muiruri,

Banks have vowed not to go back to the exorbitant interest rates they were charging before the introduction of the rate caps which was removed on Tues...

CBK , interest rate caps , KBA

MPs leave Kenyans at the mercy of banks as rate caps fall

By Kepha Muiruri,

Members of Parliament (MPs) have left Kenyans at the mercy of banks on the rate charged on new loans as the interest rate caps fall. In a chaotic v...

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

Lenders to cover Ksh.500K after Chase Bank, Imperial, Dubai saga

By Kepha Muiruri,

Commercial banks will begin covering deposits for an estimated 98 percent of customers as from July next year. This follows amendments of provision...

chase bank , Dubai Bank , imperial bank

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

Businesses break off use of old Ksh.1000 notes days to Oct 1 deadline

By Kepha Muiruri,

Consumers looking to transact in the old series Ksh.1000 note face the risk of rejection by businesses as many of the enterprises dissociate themselve...

CBK , demonetization

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

Banks holding more money than ever before as Kenyans suffer empty wallets

By Kepha Muiruri,

Combined, commercial banks are now holding more cash reserves than ever before even as the private sector languishes in a cash-crunch strangle hold. ...

CBK , Kenya Bankers Association (KBA)

KCB trims payout to Imperial Bank depositors after revised offer

By Kepha Muiruri,

KCB Group has trimmed its final payout to deposits held under the Imperial Bank Limited in Receivership (IBLIR) by Ksh.6.5 billion in a revision of it...

IBLIR , imperial bank , KCB

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

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

Banks ask parliament to revise interest rate capping law

By Kepha Muiruri,

Commercial Banks now say if parliament will not repeal the interest rate capping law, it should at least widen the capping band to allow flow of credi...

CBK , interest rate caps , Kenya Bankers Association , National Treasury

Digital payments on the rise in hidden-sight

By Kepha Muiruri,

Digital payments have continued to rise inconspicuously to break the trend of cash dominance discretely, even as cash remains king in the settlement o...

CBK , Communications Authority of Kenya (CA) , digital payments in Kenya , financial inclusion

Real estate brokers ease fears of sector crashing even as property prices fall

By Kepha Muiruri,

Developers in the real estate industry have quelled fears of an impending crash to one of Kenya’s key economic segment even as property prices remai...

Cytonn Real Estate , Hass Consult , Knight Frank , real estate in Kenya , Regent Group