Telecommunication firms Safaricom #ticker:SCOM and Airtel are among the most loved brands by women in Kenya, a new survey shows. The survey by IPSOS, which interviewed 13 million women from across the country, places Safaricom’s M-Pesa at number two indicating how the money transfer platform has become entrenched in the country. The study placed Equity […]
Tag: XUGA_KCB
CBK lifts freeze on bank lending rates after IMF notice
The Central Bank of Kenya has begun approving lenders’ applications to increase the cost of loans based on customer risks, setting the stage for expensive credit for small traders and workers in the informal sector. Equity Bank is the first lender to publicly reveal that the CBK has approved the risk element in its lending […]
Verve Cards enters partnership with KCB Uganda
Damalie Sajjabi(centre) exchanges agreement with KCB’s Michael Ssekyondwa Verve, a pan-African payment scheme owned by the Interswitch Group, and KCB Bank Uganda, have announced a new phase of their partnership which will see KCB Bank, become one and the first commercial bank to accept the Verve Card on its widespread and strategically distributed point of […]
East Africa: Kbc Opens Shop At EAC
STAFF and delegates at the East African Community (EAC) can now easily conduct banking services at the EAC premises, following the launch of a Kenya Commercial Bank (KCB) Tanzania mini-branch, at the Secretariat Headquarters. The move follows the signing of a Memorandum of Understanding (MOU) between the EAC Secretary General, Peter Mathuki and KCB Tanzania […]
KCB adds 1,013 staff after purchase of Rwandan lender
A customer is served at the Kenya Commercial Bank (KCB) in Nairobi on January 24, 2018. PHOTO | SIMON MAINA | AFP KCB Group added 1,013 employees to its payroll last year following its acquisition of a controlling 62.06 percent stake in Banque Populaire du Rwanda Plc (BPR). The transaction, which made BPR a subsidiary […]
Upper Tana-Nairobi Water Fund plans to expand watershed initiatives
The Upper Tana-Nairobi Water Fund ( UTNWF) has unveiled an ambitious plan to expand its ongoing source water protection initiatives in the Tana catchment area. The Fund, which was initially established by The Nature Conservancy, Nairobi City Water & Sewerage Company and Pentair to help secure the source of water for Nairobi, launched its five-years […]
KCB Group courts DRC bank in expansion plan
KCB Group Chief Executive Officer Joshua Oigara. PHOTO | COURTESY The deal, the bank said, will push the regional lender’s assets towards the Ksh1.5 trillion ($13.15 billion) mark in the next financial year. Chief executive Joshua Oigara told The EastAfrican that negotiations for a potential buyout are at an advanced stage and the deal should […]
KCB has turned Ksh. 3 Billion loan to National Bank into Equity
The KCB Group has converted a Sh3.45 billion long-term loan it had given to National Bank of Kenya (NBK) last year into equity. This is meant to enable NBK to meet its core capital ratios. The conversion now makes the total equity financing that KCB has put into NBK to Sh8.45 billion. This is due […]
Kenya Airways shareholders’ long wait for soft landing
Kenya Airways planes at Jomo Kenyatta International Airport (JKIA), Nairobi [Boniface Okendo, Standard] The classic investment philosophy is to invest in companies that are beaten down but with the hope that they will bounce back. That was the thinking of investors who between March 25, 1996 and April 1996 agreed to buy into Kenya Airways […]
Dividend boom is here as banks turn the corner on Covid woes
Investors and analysts, during the peak of Covid-19 infections, did not expect payouts to snap back quickly to 2019 levels. Kariuki Ngari, the chief executive of Standard Chartered Bank of Kenya, says he does not need to “hold anything in excess” like in 2020 when Covid-19 disruptions convinced him to conserve cash. At the time, […]