News
Three suspects have been arrested by police in Embu North after they were found with fake Ksh. 100,000 in new currency notes. The suspects were caught following a tip off from residents in Manyatta trading market and the police swiftly moved in to arrest them. The three were then
News
If the real-time credit information system is implemented, then firms under the Digital Lenders Association of Kenya (DLAK) will have access to customers borrowing history which will help them greatly in taming defaulters who borrow from one mobile lender, default and run to another mobile lender to borrow another loan
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The World Bank has warned Kenya over the risks involved in borrowing expensive loans. Many African countries are on a commercial loans borrowing spree and World Bank warn of possible repayment difficulties. The World Bank Vice-President for Africa Hafez Ghanem indicated that Kenya’s debt level has not yet reached
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The Kenyan shilling strengthened against the dollar on Thursday due to hard currency inflows from horticulture exports and offshore investors buying government debt amid thin oil importer demand. At 0638 GMT, commercial banks quoted the shilling at 102.10/30 per dollar, compared with 102.25/45 at Wednesday'
Banking & Finance
The US Embassy has accepted the new Kenyan Currency in consular appointments and transaction. This comes shortly after they posted on their site that they were developing procedures to accept the new Kenyan shillings. Until these procedures were in place, consular applicants were only supposed to pay for services using
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Market News Equity Group to manage Sh6bn EU agro-processing loan scheme Wednesday, June 12, 2019 19:13 By JAMES KARIUKI The European Union on Wednesday unveiled a Sh6.62 billion package for onward lending to farmers and agro-processors servicing demand-driven contracts. European Union delegation to Kenya Charge’ d’Affairs Walter
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Ideas & Debate Why mobile loans rate control plan is bad for small borrowers Wednesday, June 12, 2019 20:09 By PHYLLIS KAMAU | There has been continuous negative misrepresentation of digital lenders as shylocks out to defraud and take advantage of consumers. This distortion is informed by a general lack
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Companies Equity and KCB feted at Africa bankers awards Wednesday, June 12, 2019 21:10 By VICTOR JUMA Equity recognised for its investments in the community while KCB was named most innovative lender KCB Group #ticker:KCB and Equity Group #ticker:EQTY were feted at the 2019 edition of the
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Companies WorldRemit launches business payments service Wednesday, June 12, 2019 21:12 By ANNIE NJANJA London-based money remittance firm WorldRemit Wednesday unveiled a new service that allows businesses and employees of foreign firms in Kenya to receive payment from small and medium-sized enterprises in the UK. The service dubbed ‘WorldRemit
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News Kenya signs another Sh4.7 billion loan from World Bank Wednesday, June 12, 2019 12:54 By ANNIE NJANJA The World Bank has advanced Kenya a Sh4.7 billion loan for funding of solar power projects and provision of clean cooking stoves in 14 marginalised counties. The debt, under
News
News Bad bank loans hit an all-time high Sh345bn Wednesday, June 12, 2019 12:17 By CHARLES MWANIKI The value of bad loans in the banking sector hit a new high of Sh345 billion at the end of March, raising questions on the health of the economy even as the
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News CBK orders banks to file reports on new currency seekers Tuesday, June 11, 2019 20:37 By BONFACE OTIENO The Central Bank of Kenya (CBK) has instructed commercial banks to file weekly reports on persons exchanging old notes in part of strict measures seeking to curb circulation of illicit