The Nairobi Securities Exchange (NSE) #ticker:NSE is eyeing investments in regional bourses as it looks to supplement the revenue it earns from trades and data sales at the local market. The bourse recently bought a 4.9 percent stake in Tanzania’s Dar es Salaam Stock Exchange (DSE) and is now looking at investing in the Uganda […]
Tag: XUGA_KCB
Kenya: KCB Group Receive Approval to Merge Rwanda Operations
Nairobi — KCB Group PLC 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 This means the two banks will now operate as a single entity named BPR Bank Rwanda Plc, with KCB Group as the majority shareholder with […]
Juliana Rotich to head Safaricom’s fintech integration unit
Juliana Rotich. She is expected to further deepen the impact of Safaricom as a key fintech in the country. Safaricom has named Ms Juliana Rotich as its Head of Fintech Integration Solutions where she will oversee the company’s financial solutions, which are anchored on M-Pesa. These include M-Shwari, Fuliza and KCB M-Pesa. The appointment comes […]
Kenyan Banks Poised for Fastest Credit Growth in Six Years
Credit growth at Kenya’s largest banks is set to expand at the fastest pace in six years as they shift cash parked in government securities to lending to the private sector. Lenders in East Africa’s biggest economy were stymied as regulatory decisions hampered their ability to price risk. The central bank is now expected to […]
How to access Safaricom Halal Pesa, a Sharīʿah-compliant loan facility
Safaricom and Gulf Bank Africa have partnered to launch a SharÄ«Ê¿ah-compliant loan facility called Halal Pesa. It is the first SharÄ«Ê¿ah-compliant mobile and digital financial solution in the country allowing all customers on the M-Pesa platform access to full amounts requested with a repayment period of 30 days at a 5% Murabaha margin. How to […]
Kenyan Banks Poised for Fastest Credit Growth in Six Years
(Bloomberg) — Credit growth at Kenya’s largest banks is set to expand at the fastest pace in six years as they shift cash parked in government securities to lending to the private sector. Lenders in East Africa’s biggest economy were stymied as regulatory decisions hampered their ability to price risk. The central bank is now […]
EXPLAINER: How the Massively Successful Safaricom M-PESA Agency Network is Driving Digital Banks in Kenya to Go Physical
One of Kenya’s top lenders, NCBA Bank, has announced plans to open 12 new branches in the country in 2022 as part of its expansion plans. This announcement comes despite the bank shutting 14 of its branches in Kenya in 2021 due to the disruption caused by Covid-19. With its expansion, the lender targets to […]
Safaricom dividend pay pulls Nairobi Securities Exchange to one-year low
Investors at the Nairobi Securities Exchange ( NSE ) lost Sh73.2 billion in a week and the value of the bourse sank to one-year low on reduced interest on Safaricom after the telecoms operator paid a multi-billion shilling dividend. The market capitalisation dropped to Sh2.426 trillion on Thursday from Sh2.499 trillion when the bourse opened […]
KCB turns Sh3bn National Bank loan into equity
KCB Group #ticker:KCB has converted a Sh3.45 billion long-term loan it had given to National Bank of Kenya (NBK) last year into equity, helping the subsidiary meet its core capital ratios after years of default. The conversion brings the total equity financing that KCB has put into NBK to Sh8.45 billion, having put in an […]
Safaricom pulls NSE to 12-month low
Screen showing stock prices at the Nairobi Securities Exchange. [Wilberforce Okwiri, Standard] The value of investors’ wealth at the Nairobi Securities Exchange (NSE) today touched 12-month low, majorly pulled down by Safaricom as foreign investors sustained selling. Market data shows investors’ paper wealth has in the last seven days of trading dropped by Sh79.91 billion […]
