Month: June 2023
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Economy
Africa’s fintech market to reach Ksh.9.1 trillion in revenue by 2030, says new study
The African fintech market is projected to reach Ksh.9.1 trillion ($65bn) by 2030, representing a 13-fold increase over 2021. This…
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Markets
Businesses brace for rising finance costs as CBK raises key rate to 10.5%
Businesses are bracing for higher financing costs after CBK raised the key policy rate to 10.5% from 9.5% on Monday,…
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Corporate
KCB inks cross border payment deal targeting AfCFTA
KCB Group has entered into a deal with the Pan-African Payment and Settlement System for cross-border transactions on the continent.…
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News
How Kenya Shilling is trading against dollar in Dr. Thugge’s first week in office
Over the last 12 months, the Kenya Shilling has lost its grip against the US Dollar, shedding 13 percent of…
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Economy
Thugge’s first MPC meeting pushes borrowing cost to all-time high
Newly appointed Central Bank of Kenya (CBK) Governor, Dr. Kamau Thugge chaired his first Monetary Policy Committee (MPC) meeting Monday,…
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Economy
CBK puts breaks on plans for digital currency
After receiving comments on the discussion paper issued in February 2022, CBK ruled early June that a Central Bank Digital…
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Markets
Investors continue to shun 182, 364-days T-Bills despite hiked rates
Investors continued to shun the 182-day and 364-day Treasury Bills (T-Bills) last week, maintaining a trend that has persisted since…
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Economy
Ruto approves Ksh.22.9 billion from Consolidated Fund for additional spending by state
President William Ruto approved the Supplementary Appropriations (No. 2) Bill, 2023 Monday, warranting the additional spending by the National Government…
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Markets
Treasury raises Ksh.18.5 billion in tap sales on 3-year bond
Treasury raised Ksh.18.522 billion at 14.23% interest for budgetary support in last week’s tap sales of the 3-year bond which…
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Economy
World Bank to introduce ” debt pause option” for countries in event of crisis
The World Bank is mulling introducing a pause mechanism if low-income countries are hit by a crisis. This is according…
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