Standard Chartered Bank Kenya chief executive Kariuki Ngari. PHOTO | NMG Standard Chartered Bank Kenya will lock out borrowers with multiple digital loans from its mobile lending app that will be unveiled in the coming days. StanChart chief executive Kariuki Ngari said the lender would not “overburden” borrowers with additional credit, citing elevated default rates […]
Nairobi Securities Exchange trading floor. PHOTO | NMG The value of shares traded on the Nairobi bourse yesterday hit a three-year high, buoyed by a rally in Safaricom and banking stocks that has seen investors gain Sh207.5 billion since mid-May. Nairobi Securities Exchange (NSE) data showed that the market gained for the fifth day in […]
A former Nakumatt supermarket. FILE PHOTO | NMG The High Court has stopped the distribution of assets belonging to Nakumatt Holdings Ltd pending the determination of a case filed by the widow of its former internal auditor over non-payment of Sh30 million insurance claim. This means the creditors of the collapsed supermarket chain giant, which […]
Kariuki ngari StanChart CEO and Managing Director. PHOTO | SALATON NJAU | NMG Standard Chartered Bank Kenya is among top-tier lenders that have in recent years invested heavily in digitisation in line with changing preferences by clients. The country’s sixth largest lender has reported that about 90 percent of transactions are now done via its […]
Ms Kellen Kariuki is the new chairperson of the board of Standard Chartered Bank Kenya, a listed financial institution at the Nairobi Securities Exchange (NSE). She is second woman to hold that position after Ms Anne Mutahi, a small and medium enterprises advisor. Ms Kariuki, currently the managing director of Feruzi Holdings Limited, succeeds Mr […]
Standard Chartered Bank Kenya #ticker:SCBK is upgrading its automated teller machines (ATMs) for all to accept cheque deposits as the lender deepens its digital banking offerings. The Nairobi Securities Exchange-listed firm has invested heavily in digitisation including video banking, a strategy that has helped it recruit new customers and cut costs. Currently, it has 138 […]
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 […]
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 […]
Customers wait to be served at a banking hall. FILE PHOTO | NMG Banks’ balance sheets look unfamiliar as lenders count the cost of setting aside large sums of money to absorb shocks of loan defaults. According to a report, Kenya and Ghana are the countries where banks look to have done precautionary provisioning as […]
The shilling Wednesday strengthened to a five-month high against the US dollar, with traders linking this to flower remittances and muted foreign currency demand on reduced dividend repartition. It closed the day averaging 108.25 units against the dollar compared with 108.60 units at the close of trading on Tuesday, marking the 10th straight day of […]
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