Author: Muindi

NCBA Group opened its third branch at Kahawa Sukari in Kiambu as part of its local and regional expansion strategy. In launching the Kahawa Sukari branch, Tirus Mwithiga, the director for retail banking at NCBA said the expansion represents the company’s steadfast commitment to meeting the evolving needs of its customers. “This latest branch will be key to supporting the local businesses in the area by offering personalized banking solutions. At NCBA, we understand the significance of SMEs to economic growth, innovation, job formation, and social cohesion. We recognize that SME lending is one of the most economically important and…

Boya, a Kenyan fintech firm, has launched its virtual Visa expense card in partnership with VISA and Diamond Trust Bank (DTB). The Visa expense card is designed to help local businesses manage payments and expenses with one virtual card solution. The Boya platform aims to streamline and revolutionize expense tracking and reporting for businesses of all sizes. With the new product, Boya has integrated DTB’s Cards as a Service offering into the platform, enabling Boya’s customers to access virtual corporate cards supported by the Visa card scheme. https://twitter.com/DTBKenya/status/1683846086287294473?s=20 These virtual corporate cards will allow businesses to efficiently track, manage, and…

GOtv has announced that starting August 2023, it will air all Premier League and La Liga matches through its newly introduced GOtv Supa+ package. According to Jacqueline Sagala, Head of Customer Experience & Care at MultiChoice Kenya, the GOtv Supa+ package has been curated to bring customers the latest sporting spectacles and a diverse range of content. https://twitter.com/GOtvKenya_/status/1683794384301740032?s=20 With access to over 70 exceptional channels and an expanded World of Champions offering, subscribers can enjoy a broader selection of thrilling football action and indulge in a variety of sports on dedicated channels. The package will cost KES 3,500 offering more…

Absa Bank Kenya PLC will waive fees for transactional notification messages (SMS) and E-statements for its customers. The decision was made in response to feedback from Absa customers, according to Simon Gachahi, the Head of Premier and Liabilities at Absa Bank Kenya. Gachahi stated that Absa takes customer feedback seriously and strives to provide the best possible service and competitive products. “Ultimately, Absa’s ambition is to be a digital-first bank that is well-positioned to compete in today’s digital world,” he added. The waiver is intended to boost customer satisfaction and cushion them from unnecessary costs. Absa’s ambition is to be…

The International Monetary Fund (IMF) is keeping a close watch on the court case concerning the suspended Finance Act 2023 in Kenya. The IMF executive board had approved it stating it was “crucial to support ongoing consolidation efforts to reduce debt vulnerabilities.” “Depending on what comes out from the courts against the Finance Act, we will regroup with the authority to look at the contingency plans in place, our discussions will depend on parts of the act the High Court will do away, or if it blocks completely implementation of the law,” said IMF Mission Chief for Kenya, Haimanot Teferra.…

The International Monetary Fund (IMF) Executive Board completed its fifth review of the 38-month Extended Fund Facility (EFF) and Extended Credit Facility (ECF) financing for Kenya The review allows for an immediate disbursement of US$415.4 million. This includes US$110.3 million from an augmentation of access. The Board also approved a 20-month arrangement under the Resilience and Sustainability Facility (RSF) for US$551.4 million to support Kenya’s efforts to build resilience to climate change and catalyze private climate financing. “The approval of the FY2023/24 Budget and 2023 Finance Act are crucial steps to support ongoing consolidation efforts to reduce debt vulnerabilities while…