CBK Licences 7th Deposit Taking Microfinance
The Central Bank of Kenya has granted a license to Century Deposit Taking Microfinance (DTM) Ltd to carry out nationwide deposit-taking microfinance business. This is the seventh Deposit TM institution to be licensed. Central Bank said that Century DTMs’ primary focus is agricultural finance and,…
Kenyans Rally Against MPs Hefty Bonus
The move, sponsored by MP Adam Kenyan, to pass an amendment to the salary and Remuneration act that gave the MPs a KES 2.1 Billion send off package may have had a larger impact on Kenyans than he thought. When tied with the introduction of a 10% excise duty on…
Hill+Knowlton Wins PR and Marketing Award
Hill+Knowlton Strategies East Africa has been named the transaction adviser of the year (PR and Marketing ) in this year’s Think Business Capital Markets Awards. The panel of judges unanimously awarded the agency for its role…
SACCO Deposits Grew 22.5% in FY 2010/2011
Savings and Credit Cooperative Society (SACCO) deposits grew by 22.5% in 2011 to stand at KES 180.0 billion from KES 157.5 billion in 2010. This is an indicator that the SACCO sector has been playing a big financial services provision especially in loan advancements for middle and low…
8 Junior Savings Accounts For Your Kid
Saving, saving, saving. This is the sacrament of any financial institution. Yet the older you get the harder it gets to start. So maybe you should start cultivating a habit of saving in your kids. Make it easier for them.
Mobile Money Transfers Grows 7000% in 5 Years
The number of mobile money transactions grew by 7000% over the 5 year period to December 2011. The amount transacted grew by 7073% to KES 1,169 billion in 2011 while the number of transaction in a year grew 7773% to 433 million in 2011 from 5.5 million in…
More Kenyans Are Using Credit Cards
According to the Financial Stability Report 2011, the number of card users has increased with credit card usage exhibiting the biggest growth from 2010. “Payment cards industry continued to grow through 2011, with remarkable usage of Automated Teller Machines (ATMs) cards, credit & debit cards, and…
HSBC Kenya Representative Office changes name
The Kenyan representative office of Chinese bank The Hong Kong and Shanghai Banking Corporation (HSBC) has changed its name according to a notice by the Central Bank of Kenya. “The Central Bank of Kenya hereby brings to the attention of the…
Kipngetich New Equity Bank Operations Boss
Former Kenya Wildlife Services (KWS) Director Julius Kipng’etich has been appointed Equity Bank‘s Chief Operations Officer (COO). Kipngetich, who is hailed for turning around KWS into a functional institution, has headed it since 2004. He has been serving on the Equity Bank board as a…
KNUT, KUPPET,Civil Servants Union support NSSF Bill
Three key trade unions affiliated to the teaching and civil service fraternity are set to support the planned tabling of a parliamentary bill to guide the transformation of the National Social Security Fund (NSSF) from a provident to a fully-fledged pension fund. The…
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