How 150 Saccos Evaded Oversight and Took Sh1.33 Billion With Them
The Kenya Union of Savings and Credit Co-operatives (Kuscco) is seeking the intervention of the Commissioner for Co-operative Development, David Obonyo, to help trace 150 saccos that have gone missing after borrowing Sh1.46 billion from its Central Finance Fund (CFF). Only Sh133.8 million of the loans is secured through deposits, leaving Kuscco with Sh1.33 billion […]
Why Ethiopia Banned Four US-Based Remittance Firms
The National Bank of Ethiopia (NBE) has blacklisted four remittance companies based in the United States—Shgey Money Transfer, Adulis Money Transfer, Ramada Pay (Kaah), and TAAJ Money Transfer—accusing them of operating without proper authorization and facilitating illegal cross-border transactions. The decision, announced through a public advisory, comes amid growing efforts by Ethiopian authorities to regulate […]
BADEA Signs $150M Facility Agreements with Uganda to Support Private Sector Growth
The Arab Bank for Economic Development in Africa (BADEA) and the Government of Uganda have signed two Facility Agreements amounting to USD 150 million to strengthen Uganda’s private sector. The agreements were signed on the sidelines of the 41st Board of Governors meeting of the Trade and Development Bank Group (TDB Group) in Kigali, Rwanda, […]
Family Bank Gets Ksh 2.6 Billion BII Facility to Support Kenyan MSMEs
Family Bank has secured a USD 20 million (approximately Ksh. 2.6 billion) trade finance facility from British International Investment (BII), the UK’s development finance institution and impact investor. The Family Bank BII Facility is aimed at expanding access to financing for Micro, Small, and Medium-sized Enterprises (MSMEs) in Kenya’s trade-related sectors. The partnership between Family […]
Novotel Nairobi Westlands to host August Sunday Brunch
This August, Novotel Nairobi Westlands one of Accor’s Flagship properties, is set to host a special edition of its beloved Sunday Family Brunch on August 3, 2025, bringing in a taste of togetherness. Taking place at the hotel’s signature restaurant, Gemma’s Italian Restaurant, this special brunch will run from 12:30 P.M. to 4:30 P.M., offering […]
Sidian Bank Partners with Kirinyaga University to Offer Financial Solutions for Staff, Faculty, and Students
Sidian Bank has signed an MoU with Kirinyaga University aimed at supporting the staff through a staff scheme. The MoU seeks to provide financial solutions, including unsecured loans, asset finance, mortgages, and development loan facilities, among other tailored solutions Through this partnership, Sidian Bank will also support the University’s operations with project accounts, fee collection […]
New CBK Rule Ties Borrower Loan Costs to Interbank Rate
The Central Bank of Kenya (CBK) has introduced a new loan pricing framework that links commercial loan pricing to the short term interbank rate, effectively replacing the previously used Central Bank Rate (CBR) as the main benchmark. The move, formalized through a draft agreement with commercial banks on July 20, introduces a standardized formula for […]
Access Bank Acquires 76% Stake in AfrAsia Bank in Fourth Cross-Border Deal
Access Bank Plc, Nigeria’s largest lender by assets, has finalized the acquisition of a 76% majority stake in AfrAsia Bank Limited, marking its fourth cross-border acquisition in a year. The deal, first proposed in November 2024, was executed through Access Bank UK Limited, the lender’s wholly owned subsidiary, and received full regulatory approval from both […]
Factors to Consider when Choosing a Bank in Kenya
Finding the right bank in Kenya isn’t just about where to deposit your money, it’s about who you trust to handle your financial journey. With more than 40 licensed institutions under the watch of the Central Bank of Kenya, the choice can feel overwhelming. But whether you’re running a business, managing a salary, or freelancing […]
How the New NSE Trading Rules Will Change Share Trading in Kenya
The Nairobi Securities Exchange (NSE) has announced new NSE Trading Rules that will change how investors trade shares in Kenya. Effective August 1, 2025, the NSE has eliminated the requirement that shares be traded in minimum lots of 100, a rule that has been in place for decades. The revised NSE Equity Trading Rules will […]