Will risk based pricing bring cheaper loans in Kenya
Absa Bank said it would get rid of negotiation fees under the new model which will mean cheaper costs for the borrower.
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Africa should build its own financial architecture from ground up
In a generation an educated youthful population who number two for every child and pensioner delivers an economic boom since more people are economically active than dependents, and this builds up enough savings to reduce the cost of credit.
Family Bank builds up 24 percent profit jump on stability
The bank said it made strategic investment in secure and stable investment avenues and effective asset management even as the economy continued to grapple with the adverse effects of high inflation.
Depositors shrink Equity Bank’s Q1 margins by a quarter
Equity Bank's interest expenses on customer deposits almost doubled from Kes5 billion to Kes9.5 billion signaling the challenge facing lenders as depositors become more aware of the value of their money.
Absa’s Timiza and Safaricom Fuliza ya biashara fastest growing platforms
Safaricom’s new overdraft for merchants disbursed Kes32.5 billion in its first full year of operations, making a powerful market grab as the company converts small business seeking payments solutions into loan customers.
Safaricom hooks youth to arrest falling call time
At Kes140 billion, M-Pesa revenues now make up 43 percent of mobile money incomes dwarfing voice, mobile data and messaging incomes for the telco.
Kenya Power to bring E Mobility charging portals to Kisumu
The electricity distributor Kenya Power plans to invest Sh258 million in buying electric vehicles and setting up related infrastructure over the next three years to boost the uptake of e-mobility.
Family Bank customer support keeps lid on defaults
The slower growth in the interest income was because the group chose not to pass the full cost of funding to the customers thereby cushioning them from the steep rise from interest rates
Bad loans and acquisition deals cost KCB twice as much to recapitalize
KCB Group plans to borrow $200 million (Kes26.5 billion) to help rebuild the balance sheet of its Kenyan banking subsidiary up from $100 million, about Kes14.5 billion the bank announced last year.
Absa smoothens transition year with 12 percent profit growth
Absa appointed Abdi Mohamed as CEO in May 2023, replacing Mr Jeremy Awori who left the lender after a decade that saw it switch brands from Barclay Plc. Last year was also the inaugural year for Absa executing its ambitious five-year strategy to win
IMF warned Kenya currency strength won’t bring down prices
IMF said models tracking Kenya’s exchange rates movement over decades showed that while prices shot up during currency depreciations, they do not come down when the shilling strengthens.
