NCBA Group Secures 100% Ownership of AIG Kenya Insurance Company
NCBA Group has announced the completion of its 100% acquisition of AIG Kenya Insurance Company Limited (AIG Kenya), after purchasing the additional 66.67 percent stake from American International Group (AIG). NCBA had held a minority stake in AIG Kenya for over 18 years, with a 33.33 percent stake at the end of December 2022. John […]
A Guide to the KCB M-PESA Loan
The KCB M-PESA loan is a convenient and accessible loan product offered by KCB Bank specifically for Safaricom M-PESA customers. It provides a quick and easy way to meet unexpected financial needs or seize opportunities that require immediate funds. Eligibility and Requirements To be eligible for the KCB M-PESA loan, you simply need to be […]
Mary Wangari Wamae, Equity Group Executive Director, Retires
Equity Group Holdings board of directors have announced the retirement of Mrs. Mary Wangari Wamae, the executive director of the company. This marks the end of an illustrious two-decade career at Equity Group, where Wamae rose through the ranks to become a highly respected figure in the Kenyan banking industry. Mrs. Wamae’s journey with Equity […]
CBK Licenses 7 Additional Digital Credit Providers
The Central Bank of Kenya (CBK) has announced the licensing of seven additional Digital Credit Providers (DCPs). This brings the total number of CBK-approved digital lenders in Kenya to 58, following the licensing of 19 DCPs earlier in March 2024. Since March 2022, the CBK has received more than 550 applications and has been working […]
Equity Bank Approves Dividends Payouts and Formation of Subsidiaries at the 20th AGM
Equity Group shareholders have overwhelmingly approved all proposals presented by the Board of Directors during their 20th Annual General Meeting held virtually on Wednesday. Shareholders endorsed a Ksh 15.1 billion dividend payout for the second consecutive year, reflecting a payout ratio of 36%, up from 33.6% the previous year. “The Kshs. 4 per share dividend […]
Equity, Absa Among Banks Expected to Pay Dividends this Week
Kenyan listed banks are gearing up to reward their shareholders handsomely, with a cumulative payout of Ksh 63.08 billion for the financial year 2023 expected by this coming Friday, the 28th. This exciting news follows a period of strong performances by the lenders, with most reporting significant growth in net profits. Equity Group Holdings, the […]
Sidian Bank, Oikocredit, and Aqua for All launch Ksh 1 Billion WASH Loan Facility For SMEs and Water Service Providers
Sidian Bank, Oikocredit, and Aqua for All have launched a blended finance program that will integrate climate action and gender inclusion in (Water, Sanitation, and Hygiene) WASH Financing. The initiative aims to leverage Ksh 1 billion in commercial financing initiatives towards WASH infrastructure projects. The program prioritizes WASH lending across various entities. Small-scale water service […]
Equity Bank Recognized as Africa’s Most Admired Financial Services Brand
Equity Bank has been recognized as the Africa most admired financial services brand according to the prestigious 2024 Brand Africa 100: Africa’s Best Brands report. This recognition signifies equity bank’s unwavering dedication to understanding the needs of its customers across East and Central Africa, consistently delivering exceptional financial solutions. The Brand Africa 100 report is […]
Family Bank New Chairman, Architect Francis Gitau, Passes Away in the USA
The Family Bank Board of Directors and Management have announced the passing of their newly appointed Chairman, Architect Francis Gitau Mungai, who passed away while receiving treatment in the United States of America. Arch. Gitau Mungai served on the Board of Family Bank Limited since 2016 and had been serving as Vice Chairman for the […]
African Development Bank Assures Aid for Sudan Amidst Civil Turmoil
The African Development Bank (AfDB) has pledged its continued commitment to supporting Sudan through its ongoing civil conflict. This commitment was reaffirmed during a meeting in Cairo, Egypt, between Rufus N. Darkortey, the Bank’s Executive Director representing The Gambia, Ghana, Liberia, Sierra Leone, and Sudan, and Dr. Gebreil Ibrahim Mohamed Fediel, Sudan’s Finance Minister and […]