SACCOs vs Bank Loans: Which is Better for Business Financing?
When it comes to business financing in Kenya, entrepreneurs often face a tough choice: Should they seek funding from SACCOs or opt for bank loans? Both financing options come with their own sets of advantages and limitations, and the right choice depends on your business model, stage of growth, and financial readiness. Here’s a closer […]
CBN Conditions Delay Access Bank’s Takeover of National Bank of Kenya
The planned acquisition of the National Bank of Kenya (NBK) by Nigeria’s Access Bank has encountered a major delay due to regulatory conditions imposed by the Central Bank of Nigeria (CBN). Despite receiving all necessary approvals from Kenyan authorities, the deal remains incomplete as Nigerian regulators have yet to issue final clearance. The Central Bank […]
Banks Face Daily Fines from June for Failing to Lower Lending Rates, CBK Says
The Central Bank of Kenya (CBK) has announced it will begin imposing daily fines on commercial banks that fail to reduce their lending rates in line with the Central Bank Rate (CBR), effective June 2025. This comes as the regulator pushes to strengthen the transmission of monetary policy and ensure that borrowers benefit from the […]
CBK Reduces Base Lending Rate to 10%
The Central Bank of Kenya (CBK) has cut its base lending rate to 10%, marking a 75 basis point drop from the previous 10.75%. The decision, announced following a meeting of the Monetary Policy Committee (MPC), is aimed at boosting credit to the private sector and giving the economy a much-needed lift. The rate cut […]
High Court Nullifies Sh384.5M NCBA Tax Exemption Over 2019 Merger
The High Court of Kenya has nullified a Sh384.5 million stamp duty exemption granted to NCBA Group following the 2019 NIC-CBA merger. Justice Chacha Mwita ruled that the tax break, authorized through Legal Notice No. 112 by the National Treasury, was unconstitutional and failed to meet the legal requirement of public interest. The ruling marks […]
Common Banking Scams in Kenya and How to Avoid Them
Banking scams are an ever-present threat, with fraudsters continually devising new methods to steal money and personal information. A Visa “Stay Secure” study released in March 2025 revealed that 71% of Kenyan consumers had encountered digital fraud attempts, the highest rate in Sub-Saharan Africa. These scams range from phishing and identity theft to sophisticated account […]
How to Choose the Right Bank for Your Business in Kenya
Choosing the right bank for your business in Kenya is a crucial decision that can influence your financial management, growth, and overall success. With numerous banking options available, each offering different services and pricing structures, business owners must carefully evaluate their needs before making a choice. Here’s a step-by-step guide to help you select the […]
AfDB, Mastercard Launch MADE Alliance: Africa to Digitally Empower Smallholder Farmers
The African Development Bank and Mastercard have officially launched the Kenya Country Chapter of the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa. The announcement was made during the “Scaling Finance for Smallholder Farmers in Africa” conference, co-organized by the African Development Bank and the Pan-African Farmers Organization. The event brought together key stakeholders, […]
Equity Group FY24 Profits Rise to Sh 48.8 Billion, Declares Sh 4.25 Dividend Per Share
Equity Group’s net profit for the 2024 financial year rose by 11.6% to Sh 48.8 billion, with the bank declaring a dividend of Sh 4.25 per share, up from Sh 4.00 in the previous year. The Group’s total assets edged up by 1% to Sh 1.8 trillion, while customer deposits stood at Sh 1.4 trillion. […]
NCBA Group Posts Sh 21.9bn Profit in FY 24
NCBA Group has reported a net profit of Sh 21.9 billion for the financial year 2024, marking a 2.0% increase year-on-year. As a result, NCBA Group announced a final dividend of Sh 3.25 per share, bringing the total dividend payout for 2024 to Sh 5.50 per share. The Group continued to drive financial inclusion across […]