2024 Banking Customer Satisfaction Survey: Here is What You May Have Missed
The Kenyan banking sector is making strides in customer satisfaction, with the latest findings from the 2024 Banking Customer Satisfaction Survey indicating increased trust and loyalty among customers. The Kenya Bankers Association (KBA) officially launched the Banking Industry Customer Satisfaction Report 2024 on February 12, 2025, at the Radisson Blu Hotel in Nairobi. Key Highlights […]
Bank Lending Rates in Kenya 2025
The Central Bank of Kenya (CBK) lowered the benchmark lending rate by 50 basis points to 10.75% from 11.25% on the 5th of February. This move, announced after the Monetary Policy Committee (MPC) meeting, aimed to stimulate economic growth by making credit more affordable. Additionally, the Cash Reserve Ratio (CRR) was cut by 100 basis […]
DTB Lowers Lending Rates
Diamond Trust Bank (DTB) has announced a reduction in its lending rates, a move aimed at supporting businesses, particularly Micro, Small, and Medium Enterprises (MSMEs). Effective January 1, 2025, DTB reduced its lending rates by up to 50 basis points, translating to a 0.50% decrease in interest rates on loans. A further reduction of 37 […]
All you need to know about the Azania Digital Bank, Azania Bank’s Digital Banking Platform
Azania Bank, a leading commercial bank in Tanzania, has launched a new digital banking platform aimed at transforming financial services and promoting financial inclusion. This innovative platform, launched on February 12, 2025, introduces cutting-edge digital solutions designed to enhance customer convenience, accessibility, and security. Key Features of the Azania Digital Bank Platform The Azania Digital […]
Selcom Microfinance Bank Tanzania Launches SELCOM PESA
Selcom Microfinance Bank Tanzania Limited has officially launched SELCOM PESA, a digital financial service aimed at transforming the country’s financial landscape. The innovative platform is designed to provide seamless, secure, and affordable access to financial services, breaking down long-standing barriers to financial participation and fostering a more inclusive economy. SELCOM PESA sets new standards in […]
Equity Bank Reduces Lending Rates Following CBK Rate Cut
Equity Bank Kenya has reduced its interest rates on all new and existing Kenya Shilling-denominated credit facilities. The revised rates will take effect on February 13, 2025, for new loans, while existing loan holders will benefit from the changes starting March 1, 2025. This follows the Central Bank of Kenya’s (CBK) recent decision to lower […]
Bank of Zambia Introduces New Currency
The Bank of Zambia (BoZ) has announced the introduction of a new family of Zambian currency, set to be launched on March 31, 2025. This initiative aims to enhance security features, improve the quality of currency in circulation, and facilitate everyday transactions. New Currency Features The new currency family will consist of six banknote denominations: […]
CBK Wins Global Banknote Award
The Central Bank of Kenya (CBK) has received international recognition after winning the Best New Series of Banknotes award at the High Security Printing – Europe, Middle East, and Africa (HSP-EMEA) Conference. The prestigious award acknowledges the introduction of CBK’s new banknote series, which was launched in August 2024 and features advanced security enhancements. According […]
President Museveni Appoints New Bank of Uganda Governor After Three-Year Vacancy
Michael Atingi-Ego has been appointed by President Museveni as the new Governor of the Bank of Uganda, with Augustus Nuwagaba named as his Deputy Governor. Their appointments, which are subject to parliamentary approval, bring an end to a nearly three-year leadership vacuum at the central bank following the passing of former Governor Emmanuel Tumusiime-Mutebile in […]
KCB Bank Reduces Base Lending Rate
KCB Bank Kenya has reduced its base lending rate from 15.6% to 14.6% per annum, effective February 10, 2025. The final lending rate will be determined by a customer-specific margin, applied to the base rate in accordance with the approved Risk-Based Credit Pricing Model. “KCB Bank Kenya wishes to notify our customers and the public […]