New CBK Guidelines To Come Into Effect August
The draft Prudential Guidelines and Risk Management Guidelines issued by the Central Bank of Kenya (CBK) for all applicants intending to be licensed to conduct banking, mortgage or financial business in Kenya primary stakeholders and the public for review and comments will come into effect in August.
No Clearing Charges On Cheques
Last week, The Kenya Bankers Association announced that upcountry banks will stop charging clearing fees on cheques issued outside Nairobi starting this July. Cheques drawn on upcountry and remote towns attracted a commission charge to cater for the costs of transportation and other services associated with the clearing…
Airtel, Nakumatt Launch Airtime Promotion
Airtel Kenya and supermarket chain Nakumatt Holdings have today announced a countrywide reward program that will see Airtel customers get discounts when they purchase the Airtel airtime in any Nakumatt store countrywide. Speaking at the promotion launch, Airtel Kenya managing director Mr. Shivan Bhargava…
Inflation Down 0.77%
The Kenya National Bureau of Statistics (KNBS) has released Consumer Price Indices (CPI) and rates of inflation for the month of June 2012. KNBS generates the numbers using data collected during the second and third weeks of every month under review to get the CPI. The CPI decreased by…
Kidero Resigns as Mumias Sugar Boss
Mumias Sugar Company Managing Director Dr. Evans Kidero has resigned. Kidero has resigned as per constitutional requirements of public officers wishing to run for political seats. The former MD is eyeing the Nairobi Governor’s seat in the next general election. He has been at the helm of the…
NSSF to Receive Dividend from NBK
National Social Security Fund (NSSF) Acting Managing Trustee, Mr. Tom Odongo, will this morning receive a dividend cheque from National Bank of Kenya Management team during a brief courtesy call at NSSF Head offices in Nairobi. This comes only two days after…
Kenya Breweries Has a New Managing Director
East African Breweries Limited (EABL) has announced that it has appointed a new Managing Director. In a press statement dated 28th June, EABL Group Director and CEO Seni Adetu announced the appointment of Mr. Joe Muganda as the MD for Kenya Breweries Limited. Mr. Muganda, who will…
KCB to Boost its Mortgage Fund
KCB Bank Group plans to borrow up to $150million in long-term financing to support its mortgage kitty. The group which offers mortgage financing through its subsidiary S&L Mortage has plans to raise the money by the end of the year. According to…
Banks to Hire 'Professional Bankers'
Bankers will soon be required to attain professional banking qualifications to be able to work in banks. Kenya Bankers Association chief executive Habil Olaka says its time the industry defined who a professional banker is because at the moment, individuals with bachelors degrees can work as banking executives. The…
CFC Insurance Holdings Profits Rise
CfC Insurance Holdings Limited (CfCIH) held its first Annual General Meeting (AGM) during which they announced a consolidated pretax profit of KSh 950 Million for the year ended 31 December 2011 up from KSh 260 Million in 2010. CfCIH, which was listed at the…
1
