Topic: Central Bank of Kenya
Kenya’s debt soars to Sh10.8 trillion as pressure on finances mounts
Dec 19, 2024 at 12:15 PM
Kenya’s public debt has surged to Sh10.8 trillion, as reported by the Central Bank of Kenya (CBK) in its latest September 2023 data....
Kenyan banks undertake to lower their interest rates in line with CBK directive
Dec 09, 2024 at 07:55 PM
Kenya’s banking industry is gearing up to reduce lending rates in a move to tackle the persistent challenges of high borrowing costs, as announced by the Kenya Bankers Associatio...
I&M Bank also reduces its lending rates
Dec 02, 2024 at 10:11 AM
I&M Bank has announced a 0.75 per cent reduction in its interest rates, following the Central Bank of Kenya's (CBK) recent decision to lower the Central Bank Rate (CBR)....
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AERC Summit to explore Africa's US$65 billion FinTech growth by 2030
Nov 25, 2024 at 06:55 PM
Africa’s FinTech market is projected to surge thirteenfold to US$65 billion by 2030, with a compound annual growth rate (CAGR) of 32 per cent, according to a recent report by pro...
CBK announces release of new currency banknotes with enhanced features
Nov 20, 2024 at 12:12 PM
The Central Bank of Kenya (CBK) has officially begun releasing redesigned currency banknotes for denominations of Sh50, Sh100, Sh200, and Sh500....
Equity Bank responds to CBK rate slash with significant loan interest reduction
Nov 19, 2024 at 02:38 PM
In a bid to provide financial relief to its customers, Equity Bank has announced a significant reduction in interest rates on all Kenya Shilling-denominated credit facilities, effe...
KNBS notes 13.2 per cent surge in mobile money transactions to Sh6.5 trillion
Nov 19, 2024 at 01:56 PM
The Kenya National Bureau of Statistics (KNBS) has reported a remarkable surge in mobile money transactions, which hit Sh6.5 trillion in the first nine months of 2024....
New bill aims to bring buy-now-pay-later companies under CBK control
Nov 19, 2024 at 10:45 AM
Kenya’s fast-growing buy-now-pay-later (BNPL) sector is about to face a potential shake-up with the introduction of a new Bill in Parliament that could place BNPL firms under the...
John Gachora strongly defends Kenya’s banking sector strength against critics
Nov 14, 2024 at 01:52 PM
NCBA Group Managing Director John Gachora has lauded the strength of Kenya’s banking sector, rallying Kenyans to take pride in the nation’s robust financial institutions amid i...
CBK warns public against misleading information on banking stability
Nov 13, 2024 at 11:27 PM
The Central Bank of Kenya (CBK) has issued a decisive warning to the public, urging vigilance against false information circulating about the nation’s banking sector....
William Ruto nominates leaders for key state commissions and agencies
Nov 13, 2024 at 09:33 AM
President William Ruto has unveiled a series of nominations to fill critical roles within Kenya’s constitutional commissions and state agencies, a strategic move aimed at reinfor...
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BIMA: Safaricom secures licence from IRA to launch new insurance product
Nov 08, 2024 at 03:14 PM
Safaricom has been granted an insurance intermediary licence by the Insurance Regulatory Authority (IRA), officially paving the way for the company to introduce insurance services ...
Kenya’s African exports hit Sh248.7 billion, climbing 26 per cent on robust trade ties
Nov 05, 2024 at 02:13 PM
Kenya has recorded an impressive 26 per cent surge in its exports to African nations over the first seven months of 2024, driven by an increase in shipments and bolstered bilateral...
Surge in non-performing loans triggers alarming wave of auctions across Kenya
Oct 23, 2024 at 03:02 PM
Kenya's economic turbulence has led to a dramatic rise in non-performing loans (NPLs), which have surged to Sh651 billion in 2023....
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JPMorgan Chase picks Sailepu Montet as Kenya Country Manager in expansion bid
Oct 18, 2024 at 10:17 PM
JPMorgan Chase has appointed Sailepu Montet as its country manager for Kenya as the American bank rolls out its ambitious plans to spread its tentacles across Africa....
CBK unveils plan for instant payments between financial institutions in Kenya
Oct 18, 2024 at 06:33 PM
The Central Bank of Kenya (CBK) has unveiled ambitious plans to launch a groundbreaking Fast-Payment System (FPS), poised to transform how money moves across the country’s financ...
Kenya banks challenged to lower their interest rates to support MSMEs growth
Oct 16, 2024 at 08:21 PM
Local banks must lower their lending rates if Kenya’s micro, small, and medium-sized enterprises (MSMEs) are to thrive....
'Inua Biashara': Govt unveils accelerator program to stimulate growth of MSMEs
Oct 16, 2024 at 07:27 PM
President William Ruto on Wednesday launched the MSME Accelerator Programme aimed at boosting the development of Micro, Small, and Medium Enterprises (MSMEs) in Kenya....
Kenya migrates its RTGS system in bid to boost payment security and processing
Oct 15, 2024 at 12:24 PM
Kenya has successfully transitioned its Real-Time Gross Settlement (RTGS) system to the ISO20022 Global Messaging Standard in a major stride towards modernising its financial lands...
JPMorgan Chase gets go-ahead to set up regional representative office in Nairobi
Oct 14, 2024 at 10:55 PM
Central Bank of Kenya (CBK) has permitted JPMorgan Chase Bank to set up a regional representative office in Nairobi, ahead of an expected visit by its CEO Jamie Dimon to Kenya....
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