KCB Group announces voluntary early retirement programme

KCB Group announced that it is offering a voluntary buyout program for employees considering early retirement as the bank accelerates its transformation strategy. The employee buyout programme which was approved by the board of directors today is expected to save an estimated KShs.2.0 billion per annum and should recover buy out costs within a period

Barclays Bank of Kenya

Banks increase directors’ pay despite tough times

Nairobi Securities Exchange-listed banks increased their directors’ pay by 3.6 percent last year despite the fall in industry earnings, reversing the previous year’s effort to keep board spending in check. The total remuneration of bank directors hit Sh1.15 billion after seven out of the 11 publicly traded lenders increased their boards’ pay. National Bank nearly

Interest Rate Caps Effects

Interest Rate Caps Effects: Most lenders increase exposure to the risk-free government securities as opposed to other risky borrowers

Kenya is one of the countries forecast to be among the fastest-growing economies globally in 2017. The country forms part of the East African Community, a regional grouping of countries whose economies are forecast to grow significantly faster than the Sub-Saharan Africa average. Firms with operations in the East Africa region benefit from regional integration,

Shika

Alternative Circle signs a $1.1 million agreement with Creditinfo Group to help launch the rival to M-Shwari, Shika

Kenya’s Alternative Circle has signed an agreement with the international credit risk management company, Creditinfo Group, to the tune of $1.1 million. The seed capital will see Alternative Circle gain a wider geographical footprint, which will in turn open doors for greater opportunities for the mobile financial solutions innovator. “Partnering with Creditinfo Group will not

Monetary Policy Committee (MPC)

Cost of loans to remain at 14% p.a after review by Monetary Policy Committee (MPC)

Yesterday, Monday 27th March, 2017 the Monetary Policy Committee (MPC) met to review the outcome of its previous policy decisions and recent economic developments. The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent in order to anchor inflation expectations. Hope you remember that the Banking (Amendment) Act 2016 sets the