How to Apply for the Mastercard KCB Bank Multi-Currency Prepaid Card
KCB Bank Kenya, in partnership with Mastercard, has launched a multi-currency prepaid card supporting 11 hard currencies worldwide, designed to simplify and enhance international transactions. Key Features and Supported Currencies The Mastercard KCB Multi-Currency Prepaid Card allows users to transact in 11 different currencies, including the Kenyan Shilling (KES), US Dollar (USD), British Pound Sterling […]
Why the Safaricom Ziidi MMF Has a Low Interest Rate
The Safaricom Ziidi Money Market Fund (MMF) has been attracting significant attention due to its perceived lower-than-expected interest rates. However, what may seem like a low return on the surface becomes more understandable when we consider several factors that influence the fund’s performance. One key reason for the perceived low interest rate is the fundamental […]
How Kenyan Entrepreneurs Can Apply for the 2025 TEF Entrepreneurship Programme USD 5,000 Seed Capital
The Tony Elumelu Foundation (TEF), in collaboration with UBA Kenya Bank Ltd, has announced the opening of applications for the 2025 TEF Entrepreneurship Programme. This initiative offers Kenyan entrepreneurs a chance to access USD 5,000 in seed capital, along with business training, mentorship, and a valuable global network. Since 2015, 782 Kenyan entrepreneurs have received […]
National Treasury Moves to Take Debt Role from CBK – Here’s What It Means
The National Treasury is seeking to transfer the responsibility for issuing government bonds and Treasury bills from the Central Bank of Kenya (CBK) to its own Public Debt Management Office (PDMO). This is designed to cut the State’s borrowing costs, which currently hover around 10 percent, and aligns Kenya’s debt management framework with the U.S. […]
Safaricom Ziidi MMF Launches: Here’s How to Invest
Safaricom, in partnership with Standard Investment Bank and ALA Capital Limited, has officially launched the Ziidi Money Market Fund (MMF). This innovative platform leverages the widely-used M-PESA platform to offer customers a simple, faster, and smarter way to invest and grow their wealth. What is Ziidi MMF?Ziidi MMF is a unit trust that allows customers […]
How the KCB Bank and UnionPay Partnership Will Benefit the E-Commerce Industry in Kenya
Kenya’s e-commerce sector is set to experience significant growth thanks to the partnership between KCB Bank Kenya and UnionPay International (UPI). This collaboration is set to redefine online payment solutions in the country, enabling UnionPay cardholders to enjoy seamless, secure, and efficient transactions across digital platforms. The partnership aligns with Kenya’s rapidly growing e-commerce market, […]
How the World Bank’s “Mission 300” Will Benefit Africa
The World Bank and the African Development Bank (AfDB) have unveiled an ambitious $40 billion financing initiative, dubbed “Mission 300,” to electrify Africa. This program aims to provide electricity access to 300 million Africans by 2030, addressing one of the continent’s most pressing developmental challenges. Of the total funding, $30 billion will come from multilateral […]
How Ethiopians can Pay Insurance through M-Pesa
Safaricom has partnered with Awash Insurance, Ethiopia’s leading private insurer, enabling Ethiopians to pay for insurance services through the M-Pesa platform on their mobile phones. Through this partnership, Awash Insurance customers can now pay their premiums and complete other insurance-related transactions directly via M-Pesa. This development marks a shift in the accessibility of insurance services, […]
5 Rules and Regulations Every Bank Must Follow
In 2024, the Central Bank of Kenya (CBK) fined Kenya Commercial Bank (KCB), Equity Bank, and three other leading financial institutions a total of Sh191 million for breaching lending regulations. These banks were found to have exceeded the single obligor limit, a rule that caps lending to any single borrower at 25% of a bank’s […]
Central Bank of Kenya Reports Financial Loss in 2023/2024
The Central Bank of Kenya (CBK) has revealed a net deficit of KSh 24.3 billion in its Annual Report and Financial Statements for the fiscal year 2023/2024, marking a sharp contrast to the surplus of KSh 150.5 billion recorded in the previous financial year. The deficit was primarily driven by an unrealized exchange loss of […]