IFC and StanChart Partner on KSh 38B Trade Finance Deal for African SMEs
The International Finance Corporation (IFC) and Standard Chartered Bank (StanChart) have announced a new KSh 38 billion risk-sharing facility aimed at expanding access to trade...
Bank of Abyssinia Launches Paperless Banking Service at New Ras Special Branch
The Bank of Abyssinia has officially launched its newest innovation, a fully paperless banking service, at the newly established Ras Special Branch in Addis Ababa....
Absa Group Renews Visa Partnership to Boost Digital Payments and SME Access Across Africa
Absa Group and Visa have renewed their long-standing partnership to accelerate the development of inclusive, secure, and digitally enabled financial ecosystems across Absa’s Regional Operations...
World Bank Freezes Multi Billion DPO Loan to Kenya
Kenya’s shaky fiscal outlook has taken another hit after the World Bank froze a Sh96.93 billion ($750 million) Development Policy Operations (DPO) loan over the...
How the NCBA-MoneyGram Partnership Will Simplify Global Money Transfers
NCBA has partnered with global money transfer giant MoneyGram to ease the process of sending and receiving funds across borders, expanding access to over 200...
KCB Bank Becomes Kenya’s Largest Backer in Sh829.04 Billion G-to-G Fuel Import Deal
KCB Bank has disbursed $6.405 billion (Sh829.04 billion) in letters of credit (LCs) under Kenya’s government-to-government (G-to-G) oil import arrangement, making it the largest backer...
Auditor Flags CBK’s Sh14.5 Billion Secret Banknote Printing Deal
The Office of the Auditor-General has raised procurement compliance concerns over the Sh14.5 Billion Secret Banknote Printing Deal between the Central Bank of Kenya (CBK)...
Four Reasons Kenyan Youths Prefer Mobile Money Accounts Over Banks
Kenyan youths are increasingly favouring mobile money accounts over banks, with nearly half of them not holding traditional bank accounts. According to The Global Findex...
Stanbic IBTC Bank Secures CNY800 Million 3-Year Loan Facility from China Development Bank
Stanbic IBTC Bank, a subsidiary of the Standard Bank Group, has signed a CNY800 million facility agreement with the China Development Bank (CDB). The 3-year...
I&M Bank Expands into Kirinyaga County, Boosts Access to Finance in Kenya’s Agricultural Hub
I&M Bank has expanded its national footprint with the opening of its first branch in Kirinyaga County, extending its reach into one of Kenya’s most...