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In a reshuffle, KCB Group has sent home almost the entire former board of National Bank of Kenya (NBK) few weeks after acquiring the troubled lender. Consequently, KCB tapped NSSF board of trustees chairman and ex-KDF boss Julius Karangi and Treasury’s acting director general in charge of public investments
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The Central Bank of Kenya (CBK) will shred and package the entire sum of 209.7 million of the collected old series Ksh.1000 notes before destroying them. Addressing the press on Wednesday, CBK Governor Patrick Njoroge said holes will be punched on all collected notes before shredding them into
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The Central Bank of Kenya collected 209,661,000 pieces of the old Sh1,000 notes (Sh209 billion) by September 30. As at June 1, there were 217,047,000 pieces of the old Sh1,000 banknotes in circulation with 3,172 suspicious transactions under probe. 7,386,000 pieces
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Kenya Revenue Authority (KRA) has lost trace of Sh803 billion that wealthy Kenyans wired back into the country from offshore accounts in the last three years after they were offered an amnesty on tax and the source of the riches. The taxman Tuesday said he was uncertain whether the repatriated
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As a borrower, there are some questions that you are probably wondering like; How to repay Tala, Branch or Saida loan for another line, Can I pay Tala or Branch loan for another person using my phone? Is it possible to use another M-Pesa account to pay a mobile loan
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More than 140 sacco chief executive officers have completed a three-day training on business development during their annual summit held in Naivasha last week. CIC Group CEO Tom Gitogo, whose firm sponsored the summit, said that sacco leaders must sharpen their skills in order to keep up with the pace
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The Kenyan shilling is in the spotlight as diaspora remittances fell for a second straight month amid expected pressure from the demonetisation of the old Sh1,000 note that has raised liquidity in the market. Diaspora remittances, which account for the largest share of Kenya’s foreign inflows, have grown
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Retailers are exposing themselves to legal suits and regulatory punishments on opting to reject the older Sh1,000 notes ahead of the central bank withdrawal deadline of October 1. A number of retailers including supermarkets and eateries are issuing notices to customers that they will not accept the old notes
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Financial institutions have in the recent past fallen victim to criminals. Kenyan banks have suffered their fair share of bold, daring and sometimes comical heists and much of this has been blamed foe security lapses or inside jobs. Here is a list of the biggest bank heists that captured the
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Gunmen stole an unknown amount of money belonging to Equity Bank from an aircraft parked at the Moyale Airstrip on Wednesday 11th September. The Armed robbers stormed the airstrip, ambushed the pilot, his copilot and Wells Fargos cash officer and ordered them to lie down. The pilot had gone to
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Bank employees are set to receive a six per cent raise on their salaries following a new agreement between the Banking, Insurance and Finance Union (BIFU) and the Kenya Bankers Association (KBA). The new pay rise contained in a revised Collective Bargain Agreement (CBA) between the union and the banking
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The risk of the Kenyan shilling depreciating is high in the short-term due to dollar demand as the Central Bank of Kenya (CBK) removal of old Sh1,000 currency notes from the circulation draws to a close. An analysis by Sterling Investment Bank indicates that Kenyans are seeking to hold