US and Australia Withheld Support for Kenya’s US$750 Million World Bank Loan, Board Minutes Reveal
The United States and Australia formally abstained from voting during the World Bank Board’s approval of Kenya’s US$750 million fiscal support package, marking one of the few instances where two major shareholders publicly withheld their endorsement while allowing a financing operation to proceed. The abstentions were recorded during the June 29, 2026 meeting of the […]
Kenya’s FX Reserves Rise to $14.1 Billion as CBK Eyes $16 Billion Buffer, Thugge Reveals
Kenya’s foreign exchange reserves have risen by $954 million in two weeks to $14.1 billion, supported largely by a $750 million financing package from the World Bank, Central Bank of Kenya (CBK) Governor Dr. Kamau Thugge has said. Speaking at the 23rd East African Banking School (EABS) Conference held in Diani, Kenya, Dr. Thugge said […]
Africa’s Energy Transition Requires Bankable Projects, Grid Investment and Flexible Financing, Standard Bank Says
Africa’s energy transition must move beyond ambitious targets and focus on delivering bankable power projects that expand access, strengthen energy security and support economic growth, according to Standard Bank Corporate and Investment Banking. Rentia van Tonder, Head of Power and Renewables at Standard Bank Corporate and Investment Banking, said Africa’s energy transition must be practical, […]
National Bank of Ethiopia Ends Bank Credit Restrictions, Cuts FX Costs in New Monetary Policy Measures
The National Bank of Ethiopia (NBE) has removed its credit growth cap and raised its benchmark policy rate by one percentage point as it moves to strengthen its interest rate-based monetary policy framework and contain renewed inflationary pressures. The decisions were approved following the seventh regular meeting of the NBE Monetary Policy Committee (MPC), held […]
Nigerian Banks Cut Lending to Key Sectors by N5.45 Trillion After CBN Policy Shift
Nigerian Deposit Money Banks (DMBs) reduced lending to eight major sectors by N5.45 trillion in 2025 after the Central Bank of Nigeria (CBN) ended its regulatory forbearance framework, forcing lenders to reassess risky exposures and strengthen loan portfolios. Total credit extended to manufacturing, oil and gas, real estate, construction, information and communication technology (ICT), education, […]
KRA Revenue Hits KES 2.8 Trillion in 2025/26 Financial Year, Up 10.6% Year-on-Year
Kenya Revenue Authority (KRA) collected KES 2.844 trillion in total revenue during the 2025/26 financial year, achieving 95.2% of its annual target as improved performance in customs, corporation tax and digital tax collections supported growth. The KRA revenue collection increased by 10.6% year-on-year, representing an additional KES 273 billion compared with the previous financial year. […]
KCB Partners with Mastercard to Launch Sahl Card and Expand Islamic Banking Access
KCB Bank Kenya has partnered with Mastercard to launch the KCB Sahl Card, a Shariah-compliant payment solution designed to provide Islamic banking customers with secure, convenient and values-driven financial services. The new card is part of KCB’s broader Sahl Banking proposition, which provides banking solutions developed in accordance with Islamic finance principles. The launch also […]
Kenya Scraps 32-Year Bank Licence Fee Model, Adopts Revenue-Based Charges under New CBK Rules
Kenya has ended a 32-year-old bank licence fee structure after introducing a new revenue-based model that replaces the traditional branch-count approach with a Gross Annual Revenue (GAR) framework. This follows the gazettement of Legal Notice No. 81 of 2026 by the Central Bank of Kenya (CBK) on May 8, 2026, through the Banking (Fees) Regulations, […]
John Mbadi appoints Centum CEO James Mworia and five others to National Infrastructure Fund Board
John Mbadi has appointed six members to the National Infrastructure Fund (NIF) Board, marking a key step in operationalising the newly established infrastructure financing vehicle aimed at reducing Kenya’s reliance on public debt. The appointments, effective July 8, 2026, will run for a three-year term and bring together professionals drawn from corporate finance, engineering, law, […]
Kenya Retains Lower-Middle-Income Status in World Bank’s 2026/27 Income Classification
Kenya has retained its position as a lower-middle-income economy in the World Bank’s 2026/27 Country Income Classifications, reaffirming its place among the region’s relatively stronger economies despite persistent global and domestic economic headwinds. The latest rankings, released on July 1, 2026, show that Kenya and Tanzania remain the only mainland East African countries classified as […]