![Africa Tomorrow – Is M-Pesa Synonymous With Kenyan Fintech? [Video]](https://moneyinafrica.com/wp-content/uploads/2021/09/africa-tomorrow-kenya-fintech-thumbnail-230x130.png)
When M-Pesa was launched in 2007 within a year it became widely popular. By 2010, the company had a near monopoly on the market. Even today despite the launch of rivals like Equitel, Airtel Money, Orange Money, Tangaza Pesa and MobiKash – M-Pesa still has 70% of Kenya’s 68 million mobile money accounts. And in […]
Micah Cheresem, then CBK Governor as he displayed the new Sh500 notes in 1998. When then 42-year-old Micah Cheserem took over from Eric Kotut as the Governor of scandal-hit Central Bank of Kenya (CBK) in 1993, there were murmurs. The secretary of opposition party DP John Keen said this was “a Kotut taking over from […]
KCB Group CEO Joshua Oigara. PHOTO | FILE National Bank of Kenya (NBK) plans to recover Sh5 billion tied in bad loans by end of the year and eliminate the need for fresh capital injection from its parent firm. KCB Group , which wholly owns NBK, says the loan recoveries—in form of asset sales such […]
A market in Kinshasa. DR Congo, with a population of about 85 million people, has attracted the attention of many regional banks. PHOTO | AFP KCB Group kicked off a plan to enter the Democratic Republic of Congo through the acquisition of an existing lender in the next four months. This is part of the […]
The National Bank of Kenya (NBK) has posted Ksh. 765 million in profit after tax for the half year ending June 30, 2021. This is a 307% growth compared to a similar period last year. The growth has been attributed to increased income from loan interest and foreign exchange trading, coupled with lower loan loss […]
KCB Group CEO Joshua Oigara (left), Chairman Andrew Kairu (centre) and the CFO Lawrence Kimathi during the bank’s half-year results announcement at the Nairobi Serena Hotel on August 19, 2021. PHOTO | DIANA NGILA | NMG KCB Group doubled its net profit for the first six months to June to Sh15.3 billion as its subsidiary […]
National Bank of Kenya Managing Director, Paul Russo during a past event PHOTO/COURTESY The National Bank of Kenya (NBK) has won three major global awards for Best Bank in Customer Service Kenya, Best Islamic Window Kenya and Best SME Bank in Kenya. The bank bagged the awards in the International Business Magazine Awards 2021 that […]
Banking experts have hailed the return to profitability of Kingdom and National Bank as a win to consolidation. In analysis of the recently released half year results by local lender, experts at GCR Ratings attributed the good performance of the two lenders to sound management efficiency and risk spread. ‘’The acquisition by superior institution played […]
KCB & Equity Group Managing Directors, Joshua Oigara and Dr. James Mwangi The KCB Group is now the second local bank to reach the Ksh.1 trillion mark in total assets after the Equity Group. The lender crossed the threshold in the quarter ending in June 2021 where its total assets peaked on the right side […]
KCB Group CEO and MD Joshua Oigara KCB group Chairperson Andrew Kairu KCB and Group CFO Lawrence Kimathi during the release of KCB Half year 2021 financial results in Nairobi on August 19, 2021 Kenya Commercial Bank’s investment in National Bank of Kenya is paying back after the subsidiary posted a Sh717.6 million net profit […]
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