Choosing the Right Bank
Banking for dummies...How to bank in this "Facebook Era!
What to Look for in the CBK Weekly Bulletin
The Central Bank of Kenya releases a weekly bulletin every Friday. This bulletin is more of a digest as it contains quite a bit of information on the performance of the money market over the week. However it is important to know exactly what to look out for in the…
PM Asks Banks to Cut Lending Rates
Prime Minister Raila Odinga in statement read at the Banking Survey Awards asked commercial banks to cut down their lending rates to 16%. The premier noted that the government mobilized MPs to vote against capping of interest rates and asked the banks to show appreciation by lending to the people…
No Capping Interest Rates, House Decides
Loan borrowers will have to put up with the high interest rates main stream banks charge them on loans after parliament shot down proposed amendments to the finance bill 2011/2012. The Jakoyo Midiwo sponsored amendments to have bank interest capped and have a base on the interest given…
Mobile Loans with M-Pepea
Salaried people can now access small short term loans through a genius mobile application called M-Pepea. Raven Ltd the company behind M-Pepea uses the application to advance small emergency loans to borrowers. M-Pepea which Raven Ltd launched in 2010 is a fast and convenient lending service. A…
Loans Easily Accessible in the Coming Days?
So banks in the country have been posting billions of shillings even as the economy and millions of Kenyans struggled in the past five years. But all that has now come to an end. In the coming weeks, as the earnings reporting season for the first three months of 2012 begins,…
'Bad Debtors' to Miss Out on Loans
Individuals and companies who have been listed by banks as bad debtors, will miss out on credit for a minimum of seven years. This is a milestone for the lenders which has been made possible by Credit information Sharing by Credit bureaus,banks and other credit giving institutions. A newly published…
The Painful Side of Taking a Loan on Items
A sign on a shop in Nairobi (Photo: Mocality) When you walk on the ever busy and crowded Tom Mboya street in Nairobi, you will see hundreds of pink signs with “INSTANT CASH ON ITEMS”. The rate at which entities sprung clearly shows there is business in it. The…
Inflation to Rise During Election Period
Expect inflation to rise during the election period as politicians pour money into the economy. Campaign insiders predict that political parties targeting not only the presidential seat but also senate and parliamentarian positions for their candidates will spend up to about $100 million to $150 million…
Interbank Rate Rises
The interbank rate went up by 1.2% from 13.8% to 15% on Monday and rose even further to 16.3962% as at the close of business on Tuesday. The interbank rate is the cost at which commercial banks borrow from each other. This increase seems to be in response to the…
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