NAIROBI–( BUSINESS WIRE )– Western Union , a global leader in cross-border, cross-currency money movement and payments, is collaborating with major financial institutions in Africa, to enable millions of consumers to send and receive cross-border payments , quickly and reliably, 24/7. “Customers, globally and in Africa, want flexibility and trust in their cross-border money transfers […]
Tag: XNAI_KCB
Hackers tried to steal Sh2 billion, KCB reveals
In 2020, Kenya Commercial Bank (KCB) stopped a Sh2 billion attempted fraud on its banking system. Last year, as the Covid-19 pandemic ravaged the country, Kenya Commercial Bank (KCB) stopped a Sh2 billion attempted fraud on its banking system. “In 2020, the Group successfully prevented a theft of Sh2 billion, in attempted fraud, thanks to […]
KCB Discloses Sh2 billion Fraud Attempt on Banking System in 2020
KCB bank [File/Photo] The Kenya Commercial Bank (KCB) has revealed that it was the victim of a Sh2 billion fraud attempt on its banking system in 2020, at the height of the Covid-19 pandemic. The bank made public the incident on Thursday through its sustainability report which put the number of prevented cyberattacks at 3,624 […]
Stanbic dominates as bancassurance sees 2nd quarter growth
The Insurance Regulatory Authority (IRA) of Uganda, has published industry performance for the period April-June 2021 with bancassurance recording a 54% growth dominated by Stanbic Bank which consolidated its market share to 21.2% from 19.1 between January and March. This was followed by Absa Bank with 17.7%, Centenary Bank 7.7%, dfcu Bank 6.2%, Orient Bank […]
Kenya: Value of Kenyan Brands Declined By 8% in 2021 – Brand Finance
Nairobi — Brand valuation consultancy firm, Brand Finance has reported an 8 percent decline in the value of Kenyan brands featured in the Brand Finance Africa 150 2021 ranking with total firms accumulating a total brand value of USD1.4 billion, up from USD 1.5 billion recorded in 2020. The firm ranks over 5000 of the […]
Kenya: Why DR Congo is a Magnet for Kenyan Firms
A growing list of Kenyan companies are looking for investment opportunities in the Democratic Republic of Congo (DRC) shifting focus from the East African Community. This as the mineral-rich economy turns out to be a fertile hunting ground for top firms, with the World Bank and the African Development Bank tipping the nation as the […]
Western Union Partners With African Banks for Easy Cross-Border Transfers
Western Union is teaming up with major financial institutions (FIs) in Africa to make digital cross-border money transfers and bill payments faster and easier, according to a press release on Thursday (Sept. 30). People using KCB Bank Kenya, the Diamond Trust Bank (DTB) and the Kenya Post Office Savings Bank (Postbank) can now use Western […]
East Africa’s Top Banks in 2021
Sopotnicki/Shutterstock.com Although regional economies have been hard hit, Kenya and other countries have seen the benefits of accommodative monetary policies as part of the emergency response by policy-makers and central banks. Recovery is expected during 2021, with Kenya bouncing back fastest, although held back by ongoing precautionary restrictions. The pandemic has also advanced digitisation . […]
Foreign investors pull Sh843m from Nairobi exchange
Foreign investors made net sales on the Safaricom #ticker:SCOM and EABL #ticker:EABL stocks at the Nairobi Securities Exchange (NSE) last week, pulling down the share prices of these stocks as well as the bourse’s market capitalisation. The net outflows on the foreign desk — which accounted for 45.5 percent of total market turnover — stood […]
Half of Nairobi bourse firms fail to recover from Covid
Nairobi Securities Exchange trading floor. PHOTO | NMG Firms that have made positive corporate moves in the stock market such as bonus issuances and buyouts like Nairobi Business Ventures (NBV) have also recorded higher gains relative to peers. But investors have punished top firms viewed to struggle under effects of Covid-19, including East Africa Breweries […]