Tag: Central Bank of Kenya

The Central Bank of Kenya's decision aligns with global trends, where central banks have been lowering interest rates to address ...

The last time the forex reserves were at this level was in October 2017, underlining the pressure on the Central ...

In the second quarter of the year, more than half of commercial banks raised their lending rates to individuals and ...

Virtual Pay plans to collaborate with all sector players in the market including banks, nonbank financial institutions, major card schemes, ...

The Assets Recovery Authority is conducting a complex money-laundering investigation into Flutterwave. Until now, it was unclear whether the company ...

As a result of the VAT reduction, a 13kg cylinder was retailing at an average of Kes 3,100.67 in July ...

The IMF loan will be used for budget support, bringing Kenya’s total disbursements for budget support so far to about ...

Airtel and Telkom customers can now pay into Safaricom's MPESA pay bill numbers after the successful launch of the second ...

The CBK on Thursday published a Discussion Paper on Central Bank Digital Currency inviting public input on modalities of possible ...

Data from the Central Bank of Kenya (CBK) shows top CEOs in Kenya are optimistic about business growth this year

IMF Deputy Managing Director and Acting Chairperson of the Executive Board, Antoinette Sayeh, said Kenya had shown remarkable resilience to ...

The software has been developed and will be moderated by Deaf eLimu Plus Ltd, with funding from KBA and FSD ...

Kenya is exploring the use of central bank digital currency (CBDC) to settle cross-border payments according to the country’s Central ...

The Kenya Shilling has been on a losing streak against the U.S Dollar in what analysts and forex traders attribute ...

The Central Bank of Kenya (CBK) has revoked the authorisation granted to Mobile Pay Limited (MPL) which has the brand ...

Kenya's Inflation stood at 6.57% in August as the Central Bank of Kenya warned of risks arising from both domestic ...

China has been named the leading bilateral lender to Kenya by the Central Bank of Kenya (CBK) accounting for 67% ...

Forex exchange reserves dipped by over Kes. 11.3 billion after the Central Bank of Kenya (CBK) released more dollars into ...

Kenya has appointed Citi and JP Morgan as joint book-runners for a dollar-denominated sovereign bond issue, and I&M Bank and ...

The Kenyan economy is expected to rebound to 6.6 percent in 2021 reinforced by the prevailing stable macroeconomic environment and the ...

Kenya expects to receive a loan of $750 million from the World Bank in the next two weeks to support ...

CBK’s foreign currency reserves remain adequate to provide 4.55 months of import cover and cushion the economy against short-term shocks ...

Cognizant of the continued evolution of the COVID-19 pandemic and its resultants effects on the economy, the IMF has trimmed ...

The CBK placed Chaterhouse bank limited under statutory management after it violated sections of the Banking Act relating to lending

KRA recorded improved collection in all revenue streams where Customs & Border Control net the taxman Kes. 54 billion against ...

Digital mobile lenders will have six months to be licensed by the Central Bank of Kenya (CBK) if Parliament adopts ...

The Central Bank of Kenya (CBK) accepted bids worth Kes 81.94 Billion from the 18-year old April 2021 Infrastructure Bonds ...

The Executive Board of the International Monetary Fund (IMF) approved 38-month arrangements under the Extended Credit Facility (ECF) and the ...

Diamond Trust Bank’s (DTB) net profit for the year that ended on 31st December 2020 dipped by 51% to Kes3.5 ...

The Central Bank of Kenya (CBK) on Tuesday announced the extension of the loan repayment measures put in place for ...

Kenya is expected to raise its debt ceiling of kes 9 trillion to accommodate growing expenditure needs amid underperforming tax ...

Kenya's treasury aims to raise Kes 123.8 billion from sovereign bonds sold to foreigners in the next four months and ...

The International Monetary Fund (IMF) on Monday said it will soon disburse Kes 262.69 billion (USD 2.4 billion) to the ...

Banks have posted the lowest 11-month pre-tax earnings for the banking sector since 2012. The low profits were attributed to ...

The Central Bank of Kenya (CBK) Monetary Policy Committee (MPC) on Wednesday kept the benchmark rate unchanged at 7% in ...

Kenya's total debt jumped to 65.6% of gross domestic product in June 2020 from 62.4% a year earlier, the World ...

Kenya has  recorded a 10.7 % rise in remittances from US$2,796 million in 2019 to a record high of US$3,094 ...

Overall, the global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout ...

“The price cuts are permanent, effective from January 1, 2021 and will enable more than 26.8 million customers to continue ...

FDI contributed 62,876 jobs in Uganda accounting for (18.2%) of total jobs created, while FDI into Tanzania created 46,765 jobs ...

The transport index decreased by 0.15%, as the government relaxed travel and curfew restrictions which saw transport activities improve in ...

The service will allow customers to send money to bank accounts and mobile wallets in 15 countries, including neighboring Uganda, ...

Family Bank also signed a partnership with Performeter Agribusiness Limited setting aside Sh1 billion to fund fodder production for dairy ...

Manufacturing sector recorded a 7.8% growth in loan uptake, transport and communications at 21.1%, real estate 7.6%, and consumer durables ...

Kenyans abroad sent home a record Kes. 28.4 billion ($263.1 million) in October this year, a 17.3% increase compared to ...

The profit dip has however trimmed the bank’s earnings per share to Kes.11.13 from Kes.16.15 last year.

Budget deficit in the three months that ended in September grew to Kes. 131.7 billion compared to Kes. 123.5 billion ...

An estimated 3 million Kenyans who live abroad sent home Kes 280 billion in last year.

However, the reductions were not big enough to offset price increases of other sampled items.

CBK collaborated with commercial banks through the Kenya Bankers Association to establish the currency center.

Ordinary revenues are now projected to decline by Kes 28 billion to Kes 1.60 trillion in the current financial year.

The fourth edition of Absa Africa Financial Markets Index 2020 show Kenya has dropped four places. The  index that  measures ...

DTB has appealed the ruling and secured a stay of the execution of the judgement. The lawyers at ENS say ...

New orders grew for the third month running, helped by a further increase in foreign orders, particularly from Europe and ...

However, according to CBK, the amount of loans acquired during this period has  increased steadily  with banks having restructured loans ...

The value of transaction has been tipped to rise on account of COVID-19 pandemic.

“NPL increases were noted in the real estate, personal, transport and communication sectors due to subdued business environment,” Dr. Njoroge ...

However, external valuations for real estate investments will be performed by an independent registered property valuer at least once every three ...

The National Treasury expects the Kenyan economy to grow by just 2.5 percent due to COVID-19 induced economic slowdowns.

The idea was boosted by passage of The Public Procurement and Disposal (Amendment) Bill, 2013 which provided that women, youth ...

The Central Bank of Kenya in June revealed that the ratio of non-performing loans stood at 13.1 percent, the highest ...

CBK is using some of its reserves to help ease some of that pressure, which we think is partially seasonal

This follows a unanimous approval of the transaction by shareholders of Jamii Bora Bank during the extra ordinary general meeting ...

KDIC says the new limit will cover 99 per cent of depositors with funds in banks and deposit-taking microfinance institutions. 

The hold in the Central Bank Rate was supported by inflation stability with inflation rate at 5.6% in April. Going ...

The Bank projects that it will wither the tough operating environment characterized by the COVID-19 pandemic to grow its earnings ...

The negative outlook also captures the higher risks to the bank's asset quality and profitability due to a more fragile ...

In each of the next three years, Kenya will need to repay on average 1.7% of GDP in external principal ...

That brings the total easing since November to 200 basis points, with the rate now the lowest since September 2011

Absa Bank Kenya will cease to transact as an authorized foreign exchange dealer in the Kenyan market from Thursday, April ...

Fitch expects Kenya's general government debt to continue rising through FY22 to reach about 70% of GDP. This is higher ...

The net interest income grew by 16.3 per cent to KES. 5 Billion compared to KES. 4.3 Billion realized in ...

As the virus spread and Kenya's reported an additional one confirmed case of the COVID-19 yesterday and also reported the ...

The lender’s total operating income grew by 59 per cent to Ksh.33.7 billion from Ksh.21.2 billion posted in the previous ...

At the moment, it's a game of bazookas, tanks and all arsenal Central Bankers can pull against a new enemy, ...

In making this decision, the CBK Board also noted the ongoing critical efforts to stem the spread of the Coronavirus ...

In a statement accompanying financial results, Co-op Bank Group MD Dr. Gideon Muriuki said the bank has continued to leverage ...

Kenya's largest telecoms operator Safaricom said on Monday it will waive transaction costs on mobile money transfers under Kes 1,000 ...

In the newsletter, Co-op bank issued a cautionary statement, informing investors of a major corporate action which might significantly affect ...

This is the first unscheduled, emergency rate cut since 2008, and it also marks the biggest one-time cut since then. ...

For instance, in 2019, Kenya's petroleum product imports amounted to USD 3,310 million and the average price of our benchmark ...

1. Global Markets soared yesterday for the first time in two weeks as China reported lower cases of the Corona ...

Kenyan parliamentary committee has rejected a request from the finance ministry to scrap the cap on commercial interest rates imposed ...