The National Treasury managed to tap a mere Ksh.15.1 billion from the October Bonds against a Ksh.40 billion auction that closed on October 4. It signalled a real snub by local investors in a re-opened 10 and 15 year Bonds issue A 10-year paper with a 4.9-year
Central Banks in both developed and emerging economies are raising their benchmark lending rates amidst the high cost of living due to soaring inflation rates. The lending rates have a considerable impact on the economy for consumers and businesses from both spectrums. The recent country to revise
Digital lenders are now required to notify loan defaulters a month prior, before presenting their names to the Credit Reference Bureau (CRB). This comes after changes were made to the Consumer Protection Act which saw the Central Bank of Kenya (CBK) become an overseer of all-digital
A survey by the Central Bank of Kenya has shown a two-year high of 57 percent in March for hotel bed occupancy rates. “On average, bed occupancy improved in all regions in March after the decline reported in January due to seasonality factors. Bed occupancy in
The Kenyan Shilling has retained its vulnerability against the United States Dollar at a low of 114.8 units, signaling a crisis in commodity prices. On Tuesday, the shilling slumped further against the dollar to trade at Ksh.114.82, down from Ksh.114.7 on Monday. This has been fueled by
Cheque volumes and values have continued to fail as individuals and businesses make greater use of electronic payment instruments, particularly during the COVID-19 pandemic. Prior to the pandemic, several countries had initiated discussions on the future of cheques. In countries like Sweden and Norway cheques have either
The Central Bank of Kenya (CBK) has formulated a set of principles that will help govern costs which come with digital payments and mobile banking. In an attempt to strengthen the landscape on national payments, CBK eyes to tame digital transaction costs and will take place
Kenyans made mobile money transactions totaling Ksh.6.24 trillion between January to November 2021, the Central Bank of Kenya has revealed in fresh data released January 10. This represents a 20 percent increase in mobile money transactions when Kenyans moved Ksh.5.20 trillion via phones same period in
Moving forward, it will now be illegal for a mobile lender, legally identified as Digital Credit Providers (DCP) to make direct contact or send endless messages if you run into default. It is in line with new draft regulations that were published by the Central Bank
The Central Bank of Kenya (CBK) has approved the merger of Commercial Bank of Africa (CBA) and NIC Group PLC effective September 30, 2019. This follows CBK’s approval on August 27, 2019, under Section 13(4) of the Banking Act, and approval by the Cabinet Secretary, National Treasury
