Islamic Banking Consolidation Wave Sweeps Across EMEA Region
Islamic banks in the Europe, Middle East, and Africa (EMEA) region are poised for continued consolidation through 2025, driven by the need for increased scale, profitability, and operational efficiency amid evolving economic and regulatory environments, according to Fitch Ratings. This trend is particularly prominent in the Middle East, where high-profile mergers have already been observed […]
NCBA Group Joins Forces with CISI to Elevate Professional Standards Among Staff
NCBA Group has partnered with the Chartered Institute for Securities & Investment (CISI) to enhance the professional skills and standards of its employees. This collaboration aims to equip NCBA staff with the knowledge and tools to provide superior financial advisory services and develop financial products that cater to the unique needs of both retail and […]
CBK Cuts Benchmark Lending Rates
Charges on bank loans are set to drop after the Central Bank of Kenya reduced the benchmark lending rate from 12.75% to 12%. This decision, announced by the Monetary Policy Committee (MPC), marks the largest interest rate cut since the start of the COVID-19 pandemic in March 2020. The CBK’s rate cut was prompted by […]
UBA Strengthens Its Pan-African Presence through Financial Inclusion
United Bank for Africa (UBA) is reinforcing its commitment to supporting the continent’s economic growth through innovative financial solutions. The bank, with a legacy of 75 years, is aiming to bridge the gap between local economies and global markets with a focus on customer-driven services, connecting African economies with international financial hubs. As the only […]
Absa Kenya Foundation: Fostering Positive Change Through Four Pillars
The Absa Kenya Foundation will accelerate socio-economic impact through entrepreneurship, education and skills, natural resource management, and health and humanitarian relief. This was announced during the launch event held today, where the Cabinet Secretary for the Ministry of Environment, Climate Change and Forestry, Hon. Aden Duale, E.G.H., noted the importance of the Foundation’s four pillars. […]
How to Borrow with the MCo-op Cash Business Plus Loan
The MCo-op Cash Business Plus Loan is a loan of up to Ksh 1 million, payable in up to 6 months, available to Co-op customers who have an active Co-op Bank Business account for at least six months. The loan is suitable for individuals, registered partnerships, business enterprises, limited companies, and private schools. The MCo-op […]
How to Borrow with the I&M Bank Buy Now Pay Later Loan
I&M Bank has launched a new AI-powered ‘Buy Now, Pay Later’ loan service, designed to provide customers with the option to finance their purchases at the point of sale, with flexible and convenient repayment options available at participating outlets. The Buy Now Pay Later loan, available on the I&M Bank OTG web or app, allows […]
How to Benefit from the KCB Bank and Airtel Money Merchants Payments Deal
KCB Bank and Airtel Money have partnered to allow Airtel Money customers to make payments directly to KCB merchants’ tills through the Lipa na KCB service. Speaking at the launch event, KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai, highlighted that this initiative is part of KCB Bank’s efforts to develop an efficient payments ecosystem […]
Loan Rates Charged by Kenyan Banks
The Central Bank of Kenya lowered its main interest rate to 12.75 percent in August, down from the 13 percent rate it had set earlier, in an effort to stabilize inflation and the exchange rate. Several banks responded by adjusting their loan rates, with some raising them and others lowering them. These loan rates affect […]
Absa Bank Introduces Absa Pay, a tap-to-pay Feature for Android Users
ABSA Bank has launched Absa Pay, an innovative tap to pay platform designed to enhance the online shopping experience by streamlining transactions with speed and security. This state-of-the-art solution aims to redefine how consumers interact with their favorite online retailers by eliminating the need for physical cards and exposing sensitive banking details. AbsaPay stands out […]