3,307 NAIROBI REGION WINGS TO FLY AND ELIMU SCHOLARS MENTORED ON LEADERSHIP, EDUCATION, AND EMPOWERMENT; THE TRIAD TO SUCCESS
Equity Group Foundation (EGF) is conducting its 15th Education and Leadership Congress for 23,101 Elimu and Wings to Fly scholars during the April school holiday break. Of the total scholars to attend this year’s Congresses, 2,574 will be refugee scholars from Dadaab and Kakuma. The Congress is being held across the country under the theme […]
What the NCBA Rate Hike Means For You
NCBA Bank Kenya has announced a significant increase in their lending rates from 16.50% p.a. to 17.50% р.а. effective May 21st, 2024. Additionally, United States Dollars Base Lending Rate will increase from 11.0% p.a. to 11.75% p.a. The above change will have the following impact on your loan facilities: All other terms and conditions of […]
Sanlam Kenya’s 10-year No-Dividend Streak Marches On
Sanlam Kenya PLC shareholders will continue to face a decade of disappointment as the company extends its streak of no dividends for another year. The board of directors failed to recommend paying dividends for the financial year ending December 2023, extending the suspension of payouts that began in 2013. That year, Sanlam Kenya issued its […]
Stanbic Bank Scores Major Client with Devki Group
Stanbic Bank Kenya has pulled off a major coup in the Kenyan banking sector, successfully attracting the Devki Group of Companies as a new client. This marks a turning point for Devki Group, which has enjoyed a long-standing partnership with KCB Bank Kenya for over four decades. Devki Group Chairman, the influential industrialist Narendra Raval, […]
3 Factors Behind I&M Bank’s Rapid Growth in Personal Accounts
I&M Bank personal accounts are witnessing remarkable growth. In 2023, the bank nearly doubled its personal accounts, adding 68,666 new accounts, up from 33,359 in 2022. By December 2023, the total number of personal accounts had reached 326,054. This growth is driven by three core strategies: 1. Eliminating Transaction Fees In February 2023, I&M Bank […]
World Bank Explains 3 Reasons Why The Shilling is Gaining
The World Bank has hailed various measures taken by the Central Bank of Kenya (CBK) as a key factor in the recent appreciation of the Kenyan shilling against the US dollar. This comes as the usd to ksh exchange rate reached a positive milestone, with 1 US Dollar now equaling approximately 130.14 Kenyan Shilling on […]
Why Your M-Pesa Balance Doesn’t Earn Interest
Millions of Kenyans using M-Pesa and other mobile money services might be surprised to learn they could be earning interest on their deposits. A 2014 law stands in the way, making Kenya an exception compared to its African counterparts where mobile money flourishes. Before 2014, the system operated differently. Vodafone, the parent company of Safaricom, […]
Key Blunders to Avoid When Borrowing From a Bank
Taking out a loan can be a smart financial move, helping you consolidate debt, finance a major purchase, or cope with unexpected expenses. But navigating the loan application process can be complicated, and borrowers often fall into a trap that often leads to financial stress along the way. Here are 10 loan landmines to avoid […]
Sidian Bank Expands Presence with the Opening of its 46th Branch in Kiambu County
Sidian Bank an SME-focused Bank in Kenya, has announced the opening of its 46th branch in Thindigua, Kiambu County. This move is part of the bank’s ongoing efforts to expand its presence across the country and support the growing local economy. The latest branch opens its doors at K-Mall near Thindigua estate and will provide […]
What The E-Invoice System Holds For Your Small Business
The Kenya Revenue Authority (KRA) is intensifying efforts to bring small businesses into electronic payments (e-invoicing) with the launch of a new scheme. This initiative comes after failing to meet their initial targets, with only a handful of expected businesses adopting the Tax Invoice Management System (TIMS) introduced in 2022. The initial implementation of TIMS […]