Drop in interest Rates to Go on, says KBA
Two weeks after the Central Bank of Kenya cut its base lending rate to 13%, more than 12 banks have followed suit and lowered their rates by different margins. The news for lower lending rates is welcome for borrowers as they will be relieved from the high interest…
How Much have Banks Cut Lending Rates?
The last two weeks have seen most commercial banks in the country lower their base lending rates by different margins. This move came after the Central Bank of Kenya‘s Monetary Policy Committee (MPC) lowered its base lending rate (CBR) by 3.5 percentage points to 13%…
SACCO Members to get Samsung Products on Credit
Samsung Electronic has partnered with supermarket chain Nakumatt to offer members of Savings and Credit Cooperative Societies (SACCOs) their products on credit. In an invite to the media, the electronic company noted “For the first time,…
NSSF set for historical AGM on Monday
The National Social Security Fund (NSSF) has confirmed that plans for the staging of the fund’s first Annual General Meeting (AGM) in the funds 47 year history are now complete. According to NSSF Acting Managing Trustee, Mr. Tom Odongo, logistics…
Cost of Fuel Rises Ending 3 Month Price Easing
This month's fuel price review breaks the three month consecutive drop in fuel prices witnessed in prior months
NSSF Suspense Account Drops
The National Social Security Fund (NSSF) has reported a drop in the fund’s suspense accounts balance to KES 3.1 billion down from KES 7 billion. The drop is attributed to a recent communication campaign dubbed Sawazisha, according to the fund’s acting managing trustee Tom Odongo.
Standard Chartered Reports Lowest Base Rate
Standard Chartered Bank of Kenya has slashed its base lending rates by 3 percentage points to have it at 18.5% down from 21.5%. This is currently the lowest base rate on the market in the wake of a market rate cut following…
Credit Cards Vs Debit Cards
Debit card issuers charge a fee on transactions performed by the card from the account balance. Credit card issuers charge an interest on money advanced to the holder through the card transactions.
Banks Follow MPC Move To Lower Rates
Barclays Bank of Kenya has announced that it will cut its base lending rate by 1.5% percentage points to 19.5% effective 1st October 2012. This comes a week after the Central Bank of Kenya‘s Monetary Policy Committee cut its lending rate by…
NSSF Rebrands Ahead of AGM
Social Security provider, National Social Security Fund (NSSF) has embarked on a re-branding exercise as part of NSSFs institutional transformation. The re-branding exercise started early this month with a series of internal communication activities to get the more than 1600 NSSF staff to embrace a…
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