A Kenyan court has frozen the sum of $48.6 million suspected to have been laundered by Nigerians backed by powerful politicians The millions were transferred from multiple offshore accounts (including Nigeria) into the accounts of these three Kenyan companies —Remix Capital Ltd, OIT Africa Ltd and Avalon Offshore Logistics Ltd. Four Nigerian and Kenyan nationals, […]
The leading telecommunications company, Safaricom , has been ranked top in the 2022 List of Top Companies in Kenya. Equity Bank and Kenya Airways come in second and third, with KCB Group coming in fourth. This is the first of what’s expected to be an annual ranking, and will be running alongside similar lists of […]
UK development finance institution and impact investor CDC Group has formally renamed itself British International Investment (BII), with CE Nick O’Donohoe saying the organisation will build on the CDC’s legacy by inheriting its “unparalleled” experience of impact investing and deep-rooted knowledge of the markets in which it invests. “BII is a strong, modern identity, which […]
Governor Patrick Njoroge of the Central Bank of Kenya Business Insider Africa understands that Kenyan banks used to charge between $0.260 (Sh30) and $1.71 (Sh197) per mobile transaction. But the transaction fees were waived in March 2020 as part of the palliative measures aimed at easing the economic burden of the pandemic. While banks have […]
Two Nigerians suspected to enjoy the backing of a powerful Kenyan politician and two Kenyans have been linked to Sh5.6 billion frozen in six bank accounts over alleged money laundering. The billions in the accounts in Equity Bank #ticker:EQTY and UBA Bank were frozen by the High Court after the Assets Recovery Agency (ARA) applied […]
Equity Bank’s Chief Executive Officer James Mwangi in Nairobi, Kenya November 11, 2020. Picture taken November 11, 2020. Kenya’s largest banks reported strong earnings for 2021 driven by write-backs, but the Russia-Ukraine war, inflation and upcoming elections may narrow margins going forward. Kenyan banks reported stellar earnings growth for 2021, driven by strong credit growth, […]
High Court has cleared Equity Bank #ticker:EQTY to auction a five-storey building in Nairobi’s city centre belonging to Tuskys Supermarket, dimming chances of a revival for the once giant retailer. The sale of the prime property on Tom Mboya Street was temporarily suspended last month after the retailer petitioned the court to stop the lender, […]
Governor Patrick Njoroge of the Central Bank of Kenya Business Insider Africa understands that Kenyan banks used to charge between $0.260 (Sh30) and $1.71 (Sh197) per mobile transaction. But the transaction fees were waived in March 2020 as part of the palliative measures aimed at easing the economic burden of the pandemic. While banks have […]
DPO Group has appointed Frank Anwelle as Country Manager for Ghana. In a statement, the company said Frank will provide overall leadership to the DPO team in Ghana by growing the organisation’s market share, ensuring total revenue growth and managing all operations. He will also facilitate their Merchant Acquisition, Account management and Superior Service delivery […]
KCB Group #ticker:KCB has received regulatory approval from the National Bank of Rwanda (BNR) to merge its newly acquired Banque Populaire du Rwanda (BPR) and KCB Bank Rwanda. The two banks will now operate as a single entity named BPR Bank Rwanda Plc, with KCB Group as the majority shareholder effective April 1, 2022. The […]
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