Inside the Struggles of Somalia’s Banking Industry
The Somalia Banking Industry operates in an environment shaped by decades of conflict, political instability, and economic fragility. Despite some progress in rebuilding formal institutions, the sector continues to face major hurdles that limit its ability to support growth and stability. The struggles of Somalia’s banking industry range from weak regulation and poor infrastructure to […]
Reform or Collapse? The Future of Kenya’s Microfinance Banks
Kenya’s microfinance banks (MFBs) are at a breaking point, with the sector posting nine consecutive years of losses. The Central Bank of Kenya (CBK) reported a combined deficit of KES 3.53 billion in 2024, a record that raises urgent questions about the future of Kenya’s Microfinance Banks. Once celebrated as engines of financial inclusion, MFBs […]
Kenya’s Sh1.6 Billion Fraud Losses Expose Rising Mobile Banking Risks
Kenya’s mobile money boom has reshaped the financial system, but rising cybercrime now poses a growing threat. The Central Bank of Kenya’s (CBK) Financial Sector Stability Report 2024 shows that Kenyan banks suffered Sh1.6 billion in direct losses to hackers in 2024, up from Sh412 million in 2023. The total amount exposed to fraud, funds […]
I&M Bank Accelerates Growth with Strategic Branch Openings in Kapsabet and Mombasa
I&M Bank has announced the opening of two new strategic branches in Kapsabet, Nandi County, and Nyali, Mombasa County, marking yet another significant milestone in the bank’s retail expansion under its ambitious iMara Strategy (2024-2026). These openings will increase I&M Bank’s footprint to 65 branches across 24 counties, reinforcing its position as one of Kenya’s […]
Why Kenyan Banks Introduced Salary Advance Loans
Salary advance loans have grown into a major financial product offered by leading institutions in Kenya, including Equity Bank, KCB Bank, NCBA, Family Bank, Co-operative Bank, Stanbic Bank, Absa, and Standard Chartered. Microfinance institutions and the digital lenders have further expanded access to this type of short-term credit. These loans allow salaried employees to draw […]
Will Reclaiming Idle Government Cash Squeeze Bank Liquidity?
The Kenyan government’s decision to reclaim idle cash held by public entities in commercial banks under the new Treasury Single Account (TSA) system is reshaping the country’s public finance management framework. While the reform is aimed at consolidating government resources, enhancing transparency, and reducing borrowing costs, it raises pressing concerns for banks that have long […]
How Does Nigeria’s Payment Overhaul Compare With Global ISO 20022 Adoption?
The Central Bank of Nigeria (CBN) has embarked on a comprehensive modernization of the country’s payment infrastructure, mandating full migration to the ISO 20022 messaging standard and introducing stringent geo-location requirements for all payment terminals. The directive, issued through a circular dated August 25, 2025, and signed by Dr. Rakiya O. Yusuf, Director of the […]
Mamo Mihretu: How Ethiopia’s Reform-Driven Central Bank Governor Shaped the Economy (2023–2025)
Mamo Mihretu’s tenure as the 10th Governor of the National Bank of Ethiopia (NBE), from January 2023 to his resignation on August 28, 2025, marked one of the most reform-driven periods in the country’s recent economic history. Appointed by Prime Minister Abiy Ahmed, he assumed office during a period of high inflation, depleted reserves, and […]
Turn Small Savings into Big Wealth: The Magic of Compound Interest
Many people ask: how do others manage to build wealth without winning the lottery or earning huge salaries? The answer is often a simple financial principle known as compound interest. In Kenya, where access to mobile banking and investment platforms is expanding, compound interest has become one of the most practical ways for ordinary savers […]
5 Simple Steps to Opening a Business Bank Account in Kenya
Opening a Business Bank Account in Kenya is a critical step for entrepreneurs, freelancers, and companies aiming to manage finances effectively, ensure compliance with tax laws, and build trust with clients and suppliers. A dedicated account separates personal and business transactions, simplifies accounting, and provides access to financial tools such as loans, overdraft facilities, and […]