Articles Posted in the " News " Category

  • Governor Njoroge: CBK had no role in NYS scandal

    By Moses Michira Central Bank of Kenya has distanced itself from the National Youth Service scandal, where an estimated Sh1.8 billion was stolen. Governor Patrick Njoroge said CBK only acted as a banker to the Government where it fulfilled its obligation to settle payment requests from ministries and departments. Suspect payments were made from bank […]

  • Equitel registers fast growth in loan disbursements

    Equity Group’s mobile money platform Equitel has recorded a 6,470 per cent growth in loan disbursements since its launch in July 2016. Speaking during the release of the 2016 half year financial results, Equity Group Holdings CEO Dr. James Mwangi said Equitel had processed loans worth Ksh.20.8 billion as at the end of June 30 […]

  • Interest cap to squeeze small lenders harder

    Large banks will protect their profit margins by pushing more loans if capping of interest rates is introduced, an international rating agency has said. Fitch Ratings noted large banks would be better placed than their smaller rivals to deal with the sharp reduction in net interest margin. “Large players, with stronger franchises and more diverse […]

  • 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 […]