Mr. Gichinga is Chief Economist at Mentoria Economics By Ken Gichinga As the prospects of an economic recovery begin to take shape, there is a deep desire among Kenyans to rebuild wealth in the new economy. For many, there is a great need to diversify beyond the traditional assets and venture into new areas. Most […]
Kenya Commercial Bank branch in Nairobi. FILE PHOTO | NMG National Social Security Fund (NSSF) has purchased an additional 8.55 million shares in KCB Group , raising its stake in the country’s biggest bank to 7.99 per cent. Latest disclosures shows that the state-controlled pension fund closed last month with 256.903 million shares in KCB, […]
(Adds details, background) NAIROBI, April 30 (Reuters) – Kenya’s Equity Group Holdings said on Tuesday it was in discussions with London-listed financial services firm Atlas Mara Limited about acquiring stakes in banks in Rwanda, Zambia, Mozambique and Tanzania. Equity’s announcement marks the third major deal among lenders in Kenya since the government capped commercial lending […]
Former Head of Mission of the League of Arab States has been awarded Sh2 million as compensation for discrimination by a local bank. Justice Weldon Korir (pictured) in a landmark judgment ordered Gulf African Bank to pay Mustafa Abdulrahman Khogali Sh2 million after finding that the lender closed his bank account on the account of […]
Mr Paul Russo. FILE PHOTO | NMG National Bank of Kenya (NBK) and Costa Homes yesterday launched an off-plan housing development account where buyers’ funds will be held until delivery of their completed units. NBK managing director Paul Russo said the savings plan seeks to eradicate instances where developers use pre-sale funds for development of […]
Former Head of Mission of the League of Arab States has been awarded Sh2 million as compensation for discrimination by a local bank. Justice Weldon Korir (pictured) in a landmark judgment ordered Gulf African Bank to pay Mustafa Abdulrahman Khogali Sh2 million after finding that the lender closed his bank account on the account of […]
* To buy controlling stake in Banque Populaire du Rwanda * Deal will make KCB the second-biggest bank in Rwanda * To take full ownership of ABC Tanzania, eyes DRC next (Updates with value of the deal) NAIROBI, Nov 26 (Reuters) – Kenya’s top lender by assets, KCB Group, has entered a binding agreement to […]
National Bank of Kenya (NBK) has partnered with the National Youth Service (NYS) to plant 50,000 tree seedlings in the Tana River Basin. This was part of the Greening Kenya Initiative by the financial institution, which is a subsidiary of KCB Group . The tree planting campaign is part of government efforts to grow the […]
KCB’s acquisition of two banks in Rwanda and Tanzania has pushed its total asset base to over Ksh1 trillion ($10 billion), creating a regional banking giant with a re-energised ambition to join the ranks of leading pan-African banks, currently dominated by Southern and West African banks. "This is a significant milestone and very historic positioning. […]
* To buy controlling stake in Banque Populaire du Rwanda * Deal will make KCB the second-biggest bank in Rwanda * To take full ownership of ABC Tanzania, eyes DRC next (Updates with value of the deal) NAIROBI, Nov 26 (Reuters) – Kenya’s top lender by assets, KCB Group, has entered a binding agreement to […]
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