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  • KCB-MPesa loans hit over Sh25 million daily

    Kenyans are borrowing between 25 and 30 million daily through the mobile-based KCB-Mpesa credit line, Safaricom and Kenya Commercial Bank said. The two firms, which jointly operate the savings and micro-credit platform, said the total loans advanced so far since the launch of the service in March 2015 was Sh10.3 billion. Total savings currently held […]

  • Jamii Bora’s Uchumi buyout was a con

    Jamii Bora Bank’s management has told shareholders that they were duped into buying Uchumi Supermarket shares. Chief executive Samuel Kimani says the information memorandum used to entice the tier-II lender into the Sh500 million acquisition did not show the true position of the retail chain. “As a listed company, we got the transaction approved by all […]

  • Ex-taxman Michael Waweru quits TransCentury board

    Former taxman Michael Waweru has quit the board of troubled infrastructure firm TransCentury barely six months into his tenure, in a shakeup that will also see two other long-serving directors exit the company. Mr Waweru — who served as commissioner- general at the Kenya Revenue Authority for nearly a decade — joined TransCentury on December 1, […]

  • Unaitas to go into full banking as capital grows

    Unaitas Savings and Credit Co-operative Society’s share capital is expected to hit the Sh1 billion mark by the end of this year as it looks to venture into full banking services. Currently, the Sacco’s share capital is Sh752 million compared to Sh696 million in December last year, chairman Joseph Ngaai said during the shareholders’ annual […]