Imperial Bank depositors hold placards outside the Westlands branch during a past demonstration/FILE The Central Bank of Kenya has appointed the Kenya Deposit and Insurance Corporation to liquidate the defunct Imperial Bank after efforts to revive it failed. In a statement on Thursday , the banking regulator said the decision to windup followed a comprehensive […]
Imperial Bank depositors hold placards outside the Westlands branch in Nairobi during a past demonstration. The Central Bank of Kenya (CBK) has placed Imperial Bank Limited in liquidation, paving way for the sale of its assets. Imperial Bank was placed under receivership in October 2015, and the Kenya Deposit Insurance Corporation (KDIC) appointed as the […]
The Central Bank of Kenya (CBK) has approved the liquidation of collapsed Imperial Bank, setting the stage for the sale of the lender’s remaining assets. Imperial Bank collapsed six years ago with money belonging to depositors, bondholders and creditors and has been under receivership of the Kenya Deposit Insurance Corporation (KDIC). During the six years, […]
The value of stocks on the Nairobi Securities Exchange (NSE) #ticker:NSE dropped to a seven-month low on foreign investors’ sell-off of blue-chip firms amid rising concerns over new coronavirus variant. Market data shows investors’ paper wealth declined Sh89.06 billion in a week through Monday, pushing the market value to levels last seen in mid-April. The […]
Zamara Group has expanded its digital pension plan Fahari Retirement to allow users to access it on the online messaging app WhatsApp. The pension firm targets to grow its customer base for its retirement products, especially in the informal sector. Fahari Retirement Plan allows individuals to save as low as Sh20 per day or Sh300 […]
On days like these, investors seek liquidity from several sources just to keep going. One of many sources is share-backed loans. In this scenario, an investor gets instant liquidity for taking care of immediate needs and other personal needs, all backed by his/her equity investment. Typically, a loan is offered by banks with a credit […]
Safaricom’s Fuliza credit facility , KCB Bank and Britam Insurance are among the top preferred brands in Kenya in the third quarter of 2021. This is according to Ajua’s quarter 3 customer loyalty benchmark report. Ajua describes itself as Africa’s first Integrated Customer Experience company for businesses on the continent. The report, which is available […]
The Fuliza overdraft service transacts more than Sh1.2 billion daily. Safaricom’s overdraft facility, Fuliza, has taken less than three years to capture the digital lending market. But the telco’s climb to the pinnacle of the market segment has been anything but smooth. It started with M-Kesho—the ill-fated product launched by the mobile service provider in […]
On days like these, investors seek liquidity from several sources just to keep going. One of many sources is share-backed loans. In this scenario, an investor gets instant liquidity for taking care of immediate needs and other personal needs, all backed by his/her equity investment. Typically, a loan is offered by banks with a credit […]
Co-operative Bank, Kimathi Street branch, Nairobi Workers tapped more than Sh44.12 billion salary advances from Co-operative Bank in nine months ending September this year. The huge appetite for overdrafts highlights the growing popularity of short-term borrowings. The lender disclosed that the advance borrowings, mostly to meet short-term needs such as buying food and paying bus […]
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