The new rates, effective October 1, will see customers borrowing KES500-1000 pay a daily interest charge of KES6 down from KES10.
Browsing: BANKING & FINANCE
Dive into the pulse of East African banking and finance with Khusoko.com. Explore in-depth news, analysis, and insights on everything from financial regulations and fintech trends to industry mergers and central bank announcements.
Shareholders of KCB Group have approved the proposed acquisition of the DRC-based lender Trust Merchant Bank SA (TMB). At the…
Financial instituions use technology to support their business processes, reduce costs, diversify income streams, and improve customer experience.
The deal will see Equity, which has a KSh1.3 trillion asset base, take over KSh945 million in loan assets from struggling Spire Bank and deposit liabilities of KSh1.3 billion.
The loan to KCB is part of IFC’s growing work in Kenya to increase the amount of climate financing available.
Kenya is in breach of East Africa’s FX reserve policy, where members are expected to have above 4.5 months of import cover at all times.