Ethiopia Raises Mobile Money Capital Rule
The National Bank of Ethiopia (NBE) has doubled the minimum capital requirement for non-bank mobile money operators, setting it at 100 million birr from 50...
Will Stanbic’s UGX 133 Billion Bet Redefine Drug Manufacturing in Uganda?
Stanbic Bank Uganda has approved a UGX 133 billion loan facility for Quality Chemical Industries Limited (QCIL), aimed at enhancing pharmaceutical manufacturing capacity in Uganda....
NCBA Group Posts Sh5.5 Billion Net Profit in Q1 2025
NCBA Group PLC has reported a net profit of KSh 5.5 billion for the first quarter of 2025, marking a 3.0% increase from KSh 5.3...
KCB Group Shareholders Approve Dividend Payout for FY2024
Shareholders of KCB Group Plc have approved a total dividend payout of KSh 9.6 billion for the financial year ending December 2024, following a resolution...
I&M Bank Uganda Launches Short-Term Loan Facility for Salaried Customers
I&M Bank Uganda has introduced Musaala Boost, a short-term loan facility targeted at salaried customers who receive their income through the bank. The loan enables...
NCBA Group Appoints New Managing Director for NCBA Bank Kenya
NCBA Group PLC has appointed James M. Gossip as the new Managing Director of NCBA Bank Kenya PLC, effective May 12, 2025. The appointment follows...
KCB Group Posts Sh 16.53 Billion in Profits for Q1 2025
KCB Group PLC reported a profit after tax of KSh 16.53 billion for the first quarter ended March 2025, compared to KSh 16.48 billion in...
Equity Bank Fires Staff Over Suspected Insider Fraud
Equity Bank Kenya has dismissed an undisclosed number of employees after internal investigations uncovered suspicious financial activity involving staff salary accounts and personal M-Pesa numbers....
CBN Maintains MPR at 27.5%
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has voted unanimously to retain the Monetary Policy Rate (MPR) at 27.5%, maintaining its current tight...
Equity Group Honored Again in East Africa
Equity Group Holdings Plc has been named a Superbrand in East Africa for the fourth time. The recognition comes through the Superbrands East Africa Volume...