CBK order for Safaricom to split dividend revealed

CBK order for Safaricom to split dividend revealed

Safaricom headquarters on Nairobi’s Waiyaki Way. PHOTO | DIANA NGILA Pressure from the Central Bank of Kenya (CBK) has forced Safaricom #ticker:SCOM to split its dividend payouts in the quest to shield the weakening shilling when the telecommunications firm seeks dollars for repatriation to foreign investors, it has emerged. Safaricom in February announced its first […]

Botswana: Expresscredit Appoints Charlotte Onneile Mathula As CEO in Botswana

Botswana: Expresscredit Appoints Charlotte Onneile Mathula As CEO in Botswana

Gaborone, Botswana — ExpressCredit Botswana has appointed Charlotte Onneile Mathula as its CEO in a move to strengthen the position and performance of the company’s product portfolio. "As we lead ExpressCredit into the next chapter of growth, we sought a leader who truly exemplifies our commitment to promote financial inclusion in Botswana," Una Hewitt, a […]

East Africa: Banks Raise Bad Loans Provision to Cushion Distressed Clients

East Africa: Banks Raise Bad Loans Provision to Cushion Distressed Clients

Covid-19 pandemic has seen the world confront its biggest health crisis this century, posing one of the most disruptive periods to businesses, forcing banks to empathise with clients’ lost livelihoods and businesses by easing off on loan payment demands Top East African banks increased provisions for bad debts by over $736 million last year (2020) […]

East Africa banks’ dilemma over dividend payout

East Africa banks’ dilemma over dividend payout

East Africa banks have been advised to maintain adequate capital buffers to remain resilient through the coronavirus pandemic. PHOTO | SHUTTERSTOCK Banks in the region are faced with a delicate balancing act of paying dividends to shareholders and preserving capital to withstand the economic shocks occasioned by the Covid-19 pandemic. Regional central banks have advised […]