Equity Bank to hold investment forum in UK

Tanzania is the cash cow for Kenyan Banks

The Tanzanian market has emerged as most favourable for subsidiaries of Kenyan banks in East Africa, accounting for 35.1 per cent of the total profits drawn from their regional presence. The latest Central Bank of Kenya Banking Surveillance Report shows that the subsidiaries in Rwanda accounted for 21.29 per cent of the total profits while […]

Uganda: Dfcu in Drive to Raise Shs200b to pay off Shareholder Loan

Dfcu Limited, the single shareholder of dfcu Bank, has launched the rights issue where it expects to raise Shs200 billion by selling new shares to settle a shareholder loan. The rights issue, which opened on Monday September 4, will run for three weeks closing on September 25 with a total of 263,157,895 new shares issued […]

Pan African lender woos sophisticated Kenyan investors

Pan African lender woos sophisticated Kenyan investors

African Export-Import Bank Kenyans have a chance to own part of one of the biggest lenders on the continent through global depository receipts. Egypt-based African Export-Import Bank (Afreximbank) is offering Sh30.9 billion worth of secondary equity through a private placement targeting pension funds and sophisticated investors. Launched in July, the capital raising is closing in […]

Uganda: DFCU to Float Largest Rights Issue Ever on Use

DFCU Ltd is seeking to mobilise Ush200 billion ($54.8 million) in a rights issue this month – the largest transaction of its kind on the Uganda Securities Exchange’s history. But market concerns about the offer price have unsettled some investors while expectations of increased liquidity on the company’s counter appear high after this transaction. A […]

Equity inks Sh300m deal to finance small-scale farmers

Equity inks $2.8m deal to finance small-scale farmers

Equity Bank and the Ministry of Agriculture have signed a Sh300 million agreement to finance farmers under phase two of the Agricultural Credit Guarantee Scheme (ACGS), in which the government provides collateral. The partnership is a risk-sharing arrangement where the government provides a guarantee fund to cushion the participating financial institutions from any proven loss […]

Kenya’s Equity Bank removes ATMs in shift towards mobile banking

Kenya’s Equity Bank removes ATMs in shift towards mobile banking

Kenya’s Equity Bank has started closing some of its automated teller machines (ATMs) as the lender shifts customers to alternative channels in a fresh cost-cutting strategy. Equity, Kenya’s biggest bank by customer numbers, has so far closed 11 ATM lobbies, each of which had multiple cash dispensing machines. One in every five ATMs in Kenya […]

Can Uganda Step Up to New Economic Challenges?

Uganda: 6 Tycoons Probed Over $67m Crane Bank Loans

Kampala — Crane Bank suspiciously advanced more than Shs244b in separate loan amounts to companies owned by six tycoons, a preliminary forensic audit report conducted by PricewaterhouseCoopers shows. The report, code-named Project Nyonyi, names the six individuals as Ms Amina Hersi Moghe , John Bosco Muwonge (Boost), and one of Kampala’s largest land owners, Mr […]