Small businesses are eyeing longer-term loans at fairer rates from funds provided to banks by development finance institutions to provide capital to fund the post-Covid-19 recovery plan. Cooperative Bank #ticker:COOP last week announced a seven-year loan facility for small businesses with up to 250 workers, partnering with the European Investment Bank (EIB) that has provided […]
Kenya’s securities exchange has moved a step closer to requiring companies to start Environmental, Social and Governance, or ESG, disclosure and introducing an index for the category. The Nairobi Securities Exchange published its ESG guidance manual on Monday, with a view of aligning information reported by companies listed in Kenya with international standards. The NSE […]
Listed companies will now publish annual sustainability reports that show investors how they deal with issues such as corruption, customers’ data privacy and environmental impact. The Nairobi Securities Exchange (NSE) #ticker:NSE has issued Environmental, Social and Governance (ESG) guidelines for the listed firms in partnership with Global Reporting Initiative (GRI). The NSE is the fourth […]
Co-operative Bank had the highest volume of non-performing loans. FILE PHOTO | DENNIS ONSONGO Meanwhile, Bank of Tanzania (BoT) has introduced measures to address non-performing loans, which include zeroing in on individual bank employees who are directly responsible for issuing the loans. The latest unaudited financial statements for regional lenders KCB, Equity and Co-operative banks […]
East Africa’s top retail banks booked more than $125 million of bad loans in the nine months to September this year, as borrowers struggled to repay their loans following the expiry of a 12-month loan repayment relief programme for customers adversely impacted by the Covid-19 pandemic. This comes as regional banking regulators in Kenya, Tanzania […]
National Bank of Kenya (NBK) has delisted from the Nairobi Securities Exchange (NSE) effective Thursday following full acquisition by KCB Group. This means shares of the company will stop trading at the Nairobi bourse. "Notice is hereby given on the de-listing of National Bank of Kenya (NBK) from the Nairobi Securities Exchange with effect from […]
Kenya has taken initial steps towards setting up a secondary mortgage market where lenders will sell home loans to long-term investors such as pension funds and insurers at a discount. The Kenya Mortgage Refinancing Company (KMRC) is working with banks to develop mortgage-backed securities where the lenders will pool home loans of similar characteristics to […]
Nairobi — The National Bank of Kenya has received approval from the Capital Markets Authority(CMA) to de-list from Nairobi Securities Exchange following the full takeover by KCB Group. NSE, in a statement targeting all shareholders, investors and the general public said NBK will subsequently be removed from the course on 25 November. "Notice is hereby […]
National Bank of Kenya. [PHOTO/ COURTESY] The National Bank of Kenya (NBK) has delisted from the Nairobi Securities Exchange (NSE) following a full acquisition by the Kenya Commercial Bank (KCB). In a notice on Monday, NSE announced that the delisting of the lender will take effect on November 25, 2021, after approval by shareholders. “Notice […]
KCB Group #ticker:KCB has lost full control of running troubled Mumias Sugar Company after the High Court directed it to involve other creditors in the operations and planned leasing of the ailing miller. Justice Alfred Mabeya directed the KCB appointed receiver manager — Pongangipalli Venkata Ramana Rao — to involve and seek the nod of […]
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