Fuliza M-Pesa Fuliza, the mobile-money overdraft facility by Safaricom has gained quite the traction since its introduction to Mpesa services back in 2019. On the first week of its launch in January of 2019, it disbursed a little over Ksh.1bn , an impressive feat to over 1 million Mpesa users. As of the six months […]
Timiza product is Absa bank’s virtual banking strategy to extend its growth and services to the mobile space/FILE NAIROBI, Kenya, Sep 5 – Absa bank has been under pressure in the past few weeks from a section of its clients over its mobile banking platform dubbed Timiza. The app currently serves over five million customers […]
A display of listed equities at the NSE. PHOTO | CITIZEN DIGITAL Foreign investors propped up the rebounding performance of the Nairobi Securities Exchange (NSE) by buying stocks worth Ksh.1.7 billion last month. According to data from Cytonn Research, this represented the second straight month of positive flows into the market after a narrow Ksh.154 […]
Investors on the Nairobi Securities Exchange #ticker:NSE (NSE) have lost Sh146 billion in paper wealth over the last two weeks as demand for stocks slumped amid shifting preference for the government’s tax-free infrastructure bond. The NSE market capitalisation declined from a high of Sh2.93 trillion mid-August to Sh2.78 trillion at the close of trading Monday […]
Nelson Gaichuhie, CAS The National Treasury and Planning and John Gachora, the NCBA Group Managing Director during the launch of NCBA 2020 Economic Outlook Report at Radisson Blu Hotel Nairobi The shutting down of several branches in Kenya due to Covid-19 on reduced business activities has seen NCBA bank relegated lender to the fourth position […]
A Banque Populaire du Rwanda (BPR) banking hall. The Rwandan lender was recently acquired by Kenya’s KCB Group. PHOTO | FILE The recent acquisition of BPR Atlas Mara by KCB group to form BPR Bank will shake up competition in the Rwandan financial market. In terms of how this will reflect on the competition for […]
Lower credit impairment costs by local commercial banks has signaled an ease to loan defaults by borrowers. This is as the banking clients resume loan repayments as the economy begins to re-emerge from disruptions of the COVID-19 pandemic. The low impairments as seen in banks half year results have freed up funds for the industry […]
Former Nakumatt CEO Atul Shah is set to lose his home in Nairobi’s high-end estate of Lavington over a Sh2 billion defaulted loan. The multi-million-shilling mansion was used as security for a loan given to the collapsed retail chain by Kenya Commercial Bank (KCB) in 2011. Following the collapse of Nakumatt, the debt has remained […]
65 per cent of formal workers borrow from online lenders. Kenyans in formal employment make the majority of those who seek loans from digital lenders , a new report has revealed. The report released on Wednesday says 65 per cent of formal workers borrow from the online lenders, followed by those in the informal sector […]
Auctioneers have failed to find a buyer for a mansion belonging to former Nakumatt CEO Atul Shah. The home located in Nairobi’s posh estate of Lavington was repossessed from Shah over a Sh2 billion debt and was put up for sale in July. This was after the High Court dismissed a petition seeking to block […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.