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Kenya’s telco giant Safaricom has tapped Citi Bank’s managing director Mr Michael Mutiga to heads its strategy and acquisitions, in its bid to have a larger share of the financial services market. Mutiga who is also the head of Citi Bank’s corporate finance for sub-Saharan Africa will
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Broke Kenya Broadcasting Corporation (KBC) has failed to remit employee retirement benefits amounting to Sh984.3 million, exposing the serious cash flow crisis it is facing and economic pain its staffers are faced with. According to Auditor General Nancy Gathungu’s report for year ended June 2020, the State broadcaster
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Centum Investment and its subsidiary Bakki Holdico Ltd have raised their combined stake in Sidian Bank to 83.41 per cent through a rights issue. Sidian Bank disclosed in its latest annual report that only Centum and Bakki—a wholly-owned subsidiary of Centum—participated in the rights issue that was
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Ethiopia has began making changes to its national payment laws to pave way for Safaricom to introduce its popular M-Pesa services in the market that boasts of over 100 million people. The country’s central bank has drafted a Bill that will allow foreign investors to offer mobile money transfer
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The National Treasury in its budget estimates for the financial year beginning July listed Japan as its largest source of loans and grants, taking over China which has been a key financier for the past decade. This comes after China cut financial commitment to President Uhuru Kenyatta’s legacy projects
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The Co-operative Bank of Kenya has partnered with Thunes, a cross-border payment provider, to launch a global money transfer service dubbed as Co-opRemit. The service will allow real-time money transfers, particularly within Africa, allowing Co-op Bank customers to move funds at affordable rates. The deal will see Co-op Bank customers
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The Co-operative Bank on Monday, December 7, awarded a total of KSh5 million to the top four fintechs in the just concluded Akili Kali Innovation Challenge, Among the four winning fintechs, three are operated by Kenyans while the fourth has some foreign interest. The top four are Chamasoft Ltd, Awamu
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DT Dobie has sealed a strategic financing partnership worth KSh1 Billion that will enable institutions such as schools, churches, universities and fleet owners to purchase or lease Mercedes Benz buses. Customers who qualify for the scheme will have the option to purchase buses with financing of up to 95 per
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Co-operative Bank of Kenya has been named Bank of The Year in Kenya, in the FT Banker 2020 Awards run by London based Financial Times. The bank was recognised for its digitisation strategy plans that have improved efficiency and enhanced digital offerings to its customers. Products such as E-credit and
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* The Co-operative Bank of Kenya has reported Ksh 9.8 billion profit after tax in the 3rd quarter of the year 2020. According to the bank's statistics, this represented a 10% drop compared to the previous year which was Ksh10.9 billion. “The group has taken a 90%
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Many Kenyans take loans to help them move closer to their financial goals. The hectic repayment process, however, sometimes erodes the benefits offered by the loan itself. For whatever reason one might be servicing a loan, it is important to make it as hassle-free as possible. Understanding your loans and
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Co-operative Bank of Kenya has introduced Co-op eCommerce which allows a payment collection solution designed for individuals and organisations who wish to receive online card payments via their Mobile APP or Website. Co-op Bank says: “It powers your platform to receive card payments directly into the organisation’s Co-opBank account,