House committee nods to CBK Governor nominee Kamau Thugge
The National Assembly’s Finance and National Planning Committee has recommended to the House to approve the Central Bank of Kenya (CBK) Governor nominee Kamau Thugge for the position. Thuge, nominated by President William Ruto on May 15, is set to take over from the current Governor Patrick Njoroge who retires in a fortnight. “Having considered […]
Borrowers to get 50% discount on non-performing mobile loans – CBK
The Central Bank of Kenya (CBK) has announced the rollout of a Credit Repair Framework for mobile loans by commercial banks, microfinance banks and mortgage finance companies In a statement on Monday, November 14, 2022, CBK said that banking institutions will be required to provide a discount of at least fifty per cent of the non-performing […]
Safaricom hints at return of charges on banking transactions
Safaricom has hinted that it might soon start charging banking transactions, two years after the charges were dropped due to Covid-19. While reporting a 10 per cent drop in profits to Ksh33.47 billion for the six months that ended on September 30, 2022, the telco said it anticipates return of the bank transactions charges. “Safaricom […]
CBK flags DP Gachagua’s comments on Foreign Exchange reserves
The Central Bank of Kenya (CBK) has flagged Deputy President Rigathi Gachagua’s comments about the adequacy of CBK’s foreign exchange cover. In an interview with a local TV station on Sunday, October 2, 2022, Gachagua claimed that the CBK did not have enough Foreign Exchange reserves even to import oil, blaming it on “state capture”. […]
CBK announces internship programme for fresh graduates, how to apply
The Central Bank of Kenya(CBK) has announced new internship openings for fresh graduates. In a statement, the bank is seeking new recruits for their six months programme without a break. “Opportunities are available in the following functions; Finance, Research, Banking and Payment Services, Human Resources, Communications and Legal Services,” part of the statement read. The […]
CBK cuts lending rate to 7pc in bid to cushion economy from virus fallout
The virus has disrupted agriculture and tourism, which are Kenya’s biggest foreign-exchange earners after remittances.
CBK penalises Absa Bank Kenya over foreign exchange lapses
CBK says that Absa Bank Kenya failed to adhere to financial transaction requirements, including conducting standard checks on anti-money laundering and know-your-customer policies.