How to Apply for the Mastercard KCB Bank Multi-Currency Prepaid Card
KCB Bank Kenya, in partnership with Mastercard, has launched a multi-currency prepaid card supporting 11 hard currencies worldwide, designed to simplify and enhance international transactions. Key Features and Supported Currencies The Mastercard KCB Multi-Currency Prepaid Card allows users to transact in 11 different currencies, including the Kenyan Shilling (KES), US Dollar (USD), British Pound Sterling […]
How the I&M Foundation is Driving Economic Growth
The I&M Foundation, the philanthropic arm of I&M Bank, is celebrating its fifth anniversary this year with a renewed focus on driving sustainable societal impact. Since its inception, the Foundation has been a catalyst for economic growth, social progress, and environmental conservation, demonstrating the power of purpose-driven philanthropy to create shared value for all stakeholders. […]
Why the Safaricom Ziidi MMF Has a Low Interest Rate
The Safaricom Ziidi Money Market Fund (MMF) has been attracting significant attention due to its perceived lower-than-expected interest rates. However, what may seem like a low return on the surface becomes more understandable when we consider several factors that influence the fund’s performance. One key reason for the perceived low interest rate is the fundamental […]
How Kenyan Entrepreneurs Can Apply for the 2025 TEF Entrepreneurship Programme USD 5,000 Seed Capital
The Tony Elumelu Foundation (TEF), in collaboration with UBA Kenya Bank Ltd, has announced the opening of applications for the 2025 TEF Entrepreneurship Programme. This initiative offers Kenyan entrepreneurs a chance to access USD 5,000 in seed capital, along with business training, mentorship, and a valuable global network. Since 2015, 782 Kenyan entrepreneurs have received […]
National Treasury Moves to Take Debt Role from CBK – Here’s What It Means
The National Treasury is seeking to transfer the responsibility for issuing government bonds and Treasury bills from the Central Bank of Kenya (CBK) to its own Public Debt Management Office (PDMO). This is designed to cut the State’s borrowing costs, which currently hover around 10 percent, and aligns Kenya’s debt management framework with the U.S. […]
Safaricom Ziidi MMF Launches: Here’s How to Invest
Safaricom, in partnership with Standard Investment Bank and ALA Capital Limited, has officially launched the Ziidi Money Market Fund (MMF). This innovative platform leverages the widely-used M-PESA platform to offer customers a simple, faster, and smarter way to invest and grow their wealth. What is Ziidi MMF?Ziidi MMF is a unit trust that allows customers […]
What Donald Trump’s Second Term May Mean for the African Banking Sector
On January 20, 2025, Donald Trump was inaugurated as the 47th President of the United States, marking his second non-consecutive term in office. The ceremony, held within the U.S. Capitol’s Rotunda due to extreme cold weather, reignited global discussions on what his presidency could mean for various regions and sectors, including Africa. Among the key […]
How the KCB Bank and UnionPay Partnership Will Benefit the E-Commerce Industry in Kenya
Kenya’s e-commerce sector is set to experience significant growth thanks to the partnership between KCB Bank Kenya and UnionPay International (UPI). This collaboration is set to redefine online payment solutions in the country, enabling UnionPay cardholders to enjoy seamless, secure, and efficient transactions across digital platforms. The partnership aligns with Kenya’s rapidly growing e-commerce market, […]
How SMEs in South Africa Are Set to Benefit from AfDB in 2025
The African Development Bank Group (AfDB) has approved two significant financial facilities for the South Africa-based Standard Bank Group. This move is poised to have a transformative impact on small and medium-sized enterprises (SMEs) and trade financing across the continent, marking a promising start to 2025. The first initiative is a $200 million trade finance […]
How the World Bank’s “Mission 300” Will Benefit Africa
The World Bank and the African Development Bank (AfDB) have unveiled an ambitious $40 billion financing initiative, dubbed “Mission 300,” to electrify Africa. This program aims to provide electricity access to 300 million Africans by 2030, addressing one of the continent’s most pressing developmental challenges. Of the total funding, $30 billion will come from multilateral […]