1.0 Commercial Banks’ Credit Officer Survey The latest survey by the Central Bank of Kenya (CBK) aimed to gauge the lending behavior within the banking sector across all eleven economic sectors. Queries revolved around credit demands, loan approval standards, non-performing loans, credit recovery efforts, and the implementation of International Financial Reporting Standards (IFRS) 9 on…
In a groundbreaking development, Kenya and several other African nations have successfully secured climate-related financing deals, amounting to a staggering $23 billion (Sh3.36 trillion), during the inaugural climate summit held in Nairobi. These substantial investments are set to bolster Africa’s green initiatives significantly. President William Ruto expressed his satisfaction with the three-day Africa Climate Summit,…
In the ever-evolving landscape of financial markets, Equity Group, under the astute leadership of Managing Director and CEO Dr. James Mwangi, has unveiled a strategic move that distinguishes it from its peers in Kenya’s banking sector. Amidst the transition to a comprehensive risk-based pricing system, Equity Bank has taken a unique stance by preserving the…
The Central Bank of Kenya (CBK) has raised concerns about microfinance banks (MFBs) charging high interest rates, up to 32 percent, on loans to small and medium enterprises (SMEs). These high interest rates are despite the requirement for collateral and are seen as a potential hindrance to the growth of SMEs. Here are the key…
In today’s fast-paced world, financial flexibility is a crucial aspect of achieving one’s dreams and ambitions. Whether you’re considering starting a business, purchasing a home, or even covering unexpected expenses, understanding loans and credit ratings in Kenya is paramount. In this comprehensive guide, we will unravel the complexities of the Kenyan financial landscape, offering you…
In a recent move, the Kenya Revenue Authority (KRA) has decided to increase taxes on used car imports, further impacting this sector. This comes as the KRA has reduced the maximum depreciation rate from 70 percent to 65 percent, significantly affecting the valuation of vehicles. Understanding the Tax Adjustment Pamela Ahago, the acting commissioner for…
In a strategic move to bolster Kenya’s energy security, the Kenya Pipeline Company (KPC) is setting its sights on repurposing refinery tanks for an impressive fuel storage expansion. This transformative initiative, spearheaded by Energy and Petroleum Cabinet Secretary Davies Chirchir, is poised to reshape Kenya’s role in the regional energy landscape. Fueling a Competitive Edge…
Standard Chartered Bank Kenya has introduced an exciting opportunity for Kenyan investors to explore offshore unit trust fund investments. This initiative opens up a gateway for retail investors to tap into the dynamic US, European, and Asian equities and bonds markets. Expanding Investment Horizons with Signature CIO Funds These innovative investment opportunities, known as the…
